Baby Budgeting Tips

The happiness, the love the joy. This is what most couples dream of when they decide to have a baby. Within this period, their mood shoots to the sky; choosing baby names, selecting different blankets and bedding in expectance of their little one. And will you blame them for their actions?

However, the financial burden that every newborn child places on the household and the cost of raising a child is always a concern to most parents. As the excitement is boiling, these are thoughts that rarely break through them. In order to avoid a heavy debt and to provide the child with everything he or she may need, it is important that parents have an effective plan for the financial cost of raising a child .

If you want to welcome a new baby in your family, here are the tips that will help you to set an effective financial plan for your new bundle of joy.

How To Plan For Your Baby

When you first consider having a baby, sit down and write out a list of all the items your baby will need when it first comes into the world. You must include items like cribs, car seats, diapers, bottles and a baby monitor. While you may receive many of these gifts at your baby shower, you must plan as if you won’t. Save and purchase these items before the baby arrives.

Analyze your current monthly income. Your new budget will now include more food, clothing, formula and diapers for your baby including toys and other items. If you have been living from pay check to pay check, it is necessary that you eliminate some unnecessary expenses to have enough money for these items. To help you get in terms with these new lifestyle, you have to start now to cut your monthly expenses.

You will need to add the new addition to your health insurance, so talk with your employer to see how much it will cost. If you don’t currently have health insurance, get some. This is because your baby will definitely make several trips to the doctor and you need to be prepared for such emergencies.

If you want your spouse and yourself to go back to work after the baby is born, now is the time to visit your area’s day-cares, find babysitters and interview them. You will need to decide which child care option is best for your baby and examine the cost.

Tracking Expenses

Have your income and expenses put into home budget software such as PocketSmith, Mint or other. With this software system, you can track your income and expenses and better still, have an effective financial plan in place for the family you are preparing for. The right online home budget tool will allow you to see exactly how much raising your child will cost so you can map out a new saving plan to suit it.

If you’re expecting a baby, definitely make sure you don’t overlook the financial aspects of raising a child. With another mouth feed, you best believe that now is the time when each and every dollar really counts!

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Margareth Batac

Planning expenses for your future baby is a good idea. This article will be a great help for couples especially the ones who have a tight budget. My additional suggestion for couples is instead of buying baby formula practice breastfeeding up to two years of age. It saved my sister a lot of money.


This is a helpful article for young couples planning on having a baby. As a mother myself, my husband and I planned my pregnancy. We had everything we needed when the baby arrived and had money set back for emergencies. I am so thankful we had the insight to do this. But, I am really amazed at those who do not know to do this. I hope your article finds its way to all young couples so they can realize the importance of planning for a baby.

Sandeep Saroha

A very good article about baby budget planning. This is something that parents often forget amid the joy of having a baby. The tips and budgeting softwares you suggested are definitely going help a soon to become parent.


A baby is one of the most exciting times in your life.  However there are important decisions to make about how you want to arrange your life before and after you have your baby that will impact on your finances. You should think before you take actions because for less guilt or else — you will regret it and can lead to financial problem. Only buy things that are necessary for your baby.


Planning before having a baby is good idea. Many things to prepare and do and these are what future/new parents often forgot. List everything that necessary is a good idea, but do not buy anything first. I have few friends that were miscarriage couple of times, so buying the baby’s items may remind them of the miscarriage. It is good if they finally have anotger baby in the end, but if not, I think it’s only bring them bad memories.

Rissa J

As a former babysitter, I’ve personally seen how some parents struggle with the presence of their new family member. As the guide said, listing down the baby’s needs (from the basic necessities to possible health issues) is a must, so unpleasant surprises won’t catch them off guard. Locating a trustworthy daycare or a sitter is also a good advice before letting the children out of their sight. If these steps are followed thoroughly, having a baby can be the best time of your life!


I have never used PocketSmith before but I have used Mint which is very nice to use, especially if you don’t want to write everything out budget wise by hand. I prefer doing paper budgets though in a notebook because I find I stick to it better then using an app. Something else to add for saving sake would be to use shopping cash back apps. Checkout51 often has deals for Pamper diapers and sometimes other baby items. The cashback is small but it all adds up.


Lots of parents are known for not planning their budgets, especially if the couple is unemployed. I believe these are suggestions that every parent should read, before the baby is born if possible. Good preparation makes miracles.

Dista Mardani

Thank God I found this article. As a young couple, this article reminds me that we should welcome the baby with well budgeting preparation because we tend to buy many things that not really necessary just because we want to give everything best for our very first baby. Thing that never came up to my mind is health insurance. And sure I will put my concern to it after this.

Medha Gautam

Babies come with God’s grace, but their upbringing is in the hands of parents. A lot of stuff changes after having a new member in ones household. This post correctly tells how and why you need to cut your monthly expenses when you are planning to have a baby.

Mr: B. Zagre

In a third world country like where i’m from, we’d have to consider and budget for costs of prenatal consultations of the mother with the doctor, tests, and the cost for the operation whether normal or cs delivery. People from a country like ours don’t get medical privileges that a 1st world country would provide their citizens. We don’t even get healthcards or health insurances.


What about the unplanned pregnancies? The parents can only employ the last step, which is to track expenses. Haha.


parenthood can swiftly go from exciting to frustrating without proper preparation. This is a good article for those planning to have a baby

Del Ann

Having a baby on the way can be very exciting, but a lot of couples, especially the younger ones tend to overlook that having and raising a kid is a serious matter. Yes, a child is a precious gift, but having one (not the child himself) can also become a burden especially when you don’t know how to handle your finances properly.

Marcy G

Being financially prepared before even thinking of having a baby is important. The cost of childbirth alone is no joke and the expenses will just keep coming and coming after that, from baby formula to diapers, day care, toys until your child grows older, and by older I mean college, so couples should really prepare and save up because there’s no turning back once the baby arrives.


These are all excellent tips for planning for your baby financially. It is also a good idea to set aside a miscellaneous pot of money to cover anything that may come up with the baby. And it’s never too late to start setting aside money for the babies education.


I can’t begin to stress the importance of how important this article is. As a parent myself, I’ve been thru the financial struggle this article is trying to caution you of. As much as we physically plan for the baby, prepping the room, proofing the house, buying the necessary seats for the car, dinner table and such, we need to plan financially not only for us, but for the child. Things don’t usually get cheaper as we grow older.


This is really what having a baby really means. Soon-to-be-parents need to find time for all of these, yet, for sure, most wouldn’t be too excited to visit day care facilities and interview baby sitters as it is still too early to do that. And by the way, i thought that this already talks about how to budget after having a baby, not anymore the planning stage.

Lori Penn

You may cross out baby formula in your list of expenses if you opt for breastfeeding. This alternative will benefit the parents in the long run. As your baby gets bigger, one can of formula will only last for two to three days. Baby formula is costly nowadays. Breastfeeding promotes healthy immune system for baby too. She/he will not be sickly, hence it will save the parents expenses for hospitalization and medicines.

Bennah Marie

For new couples I think you should have an allotment for your expenses especially when you want to have a baby because it would require money and time as well. Having a baby is such a blessing.


Early planning for daycare is such a must! There are so many options these days, not only budget but also philosophy. However, the most important thing was always the pragmatics. I spent many hours mapping the quickest routes to choose a dayhome in the end.


I’ve always found that being specific is the best way to plan for a baby! Lists really help, but most importantly ask friends and family- they usually want an excuse for gifts and it is better to make ends meet with things you actually need.

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