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. I was working a not-high-paying job, and I certainly planned on 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 MOREFOR BABY

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.

2) START A BABY FUND

If you’re not pregnant yet but even just THINKING about getting pregnant, you should still start a baby emergency fund now. Whatever you can put away – although I’d aim to have a least $1000 saved up by the time the baby comes – will be a huge help IF unexpected costs pop up. (And they do, they always do.)

3) MAKE SURE YOU HAVE INSURANCE FOR THE BIRTH

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) BE REALISTIC ABOUT WHAT YOU ACTUALLY NEED FOR BABY

Be careful not to start buying baby stuff too early, and don’t buy tiny shoes that you’ll only use for a very short time! I’ll let you be the judge of what your baby does and doesn’t need… but when we brought our baby home from the hospital we bathed him in the sink, often changed him on a towel laid on the spare bed (even though we do have a change table), and to this day we still don’t own a stroller.

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. (Take-out ads up FAST! $35 or so, even just 3 times per week, is an easy $400 / month. And if I’m honest, we eat more than 3 x week.)

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

Second hand shopping is one of the easiest things you can do to save money when having a baby on a budget. It is SUCH an easy way to save money on baby clothes, and a great way to say on baby in general.

5) LEARN TO LOVE THRIFT SHOPS

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