HAVING A BABY ON A BUDGET (DON’T GO BROKE!)

A while back I had a comment on one of my debt free living posts… something to the effect of we “wouldn’t still be debt free after we had a baby, because kids are so expensive.” (I was pretty pregnant when I read that comment, so it hit closer to home than it might have a few months before.

Was I being totally naïve to assume that we could have a baby without going into debt? Would raising this kid break us? What if my blog didn’t make any money, (my backup plan to supplement maternity leave) and we had to get by on LESS than we had coming in now?

(Yes, this is a boring way to start, but it’s oh-so-important.) If you are a two income family – about to become a one income family – then you need to look at the big picture and make decisions now about how you will handle things then. This is the most crucial step in preparing for having a baby on a budget.

1) DETERMINE IF YOU CAN, IN FACT, LIVE OFF THE MONEY THAT WILL BE COMING IN OR IF YOU NEED TO FIND A WAY TO BRING IN MORE

If you’re not pregnant yet but even just THINKING about getting pregnant, you should still start a baby emergency fund now.

2) START A BABY FUND

Health insurance is very important for staying on budget when having a baby; the fact is that it costs a LOT OF MONEY to cover your medical expenses if you aren’t in a country with universal health care.

3) MAKE SURE YOU HAVE INSURANCE FOR THE BIRTH (ESPECIALLY IF YOU ARE IN THE UNITED STATES)

You wouldn’t believe the number of times I would just given up and grabbed take out if there hadn’t been freezer meals waiting. These probably saved us a few thousand dollars in the first two months alone.

4) PREPARE FREEZER MEALS (AND LEARN TO MEAL PLAN) PRIOR TO BABE’S ARRIVAL

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