Finances & Baby Budgeting

The cost of having a child, including the time it may be necessary to take off and the consequences that can have on your income, can be a big concern for a parent to be. If you have decided that you are financially able to have a baby, there are a number of steps you can take towards preparing yourself for the expenses of a larger family. These are largely simple measures that can take a lot of pressure off you and your partner during and after the pregnancy.

Budgeting for a child

Working out your income and outgoings will help you work out how much leeway you have in your finances for additional costs. It might be a good idea to map out exactly what goes in and out of your accounts, and from there work out how the additional costs of a child will affect your monthly budget.


The major costs associated with a child include formula if you aren’t breast-feeding, diapers, the cost of baby furniture and if necessary baby proofing your home (padding corners and safe locking drawers). Preparing yourself for these cots prior to the pregnancy can put your mind at ease as many new parents can be overwhelmed by the costs of raising a child.

Paying off debts prior to a pregnancy

It is often recommended that you pay off any major credit card bills or loans if possible prior to a pregnancy as this can release a substantial portion of your income. Paying off such debts can also relieve a lot of stress, and there is no price for peace of mind.


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PREGNANCY