Money Matters: 6 Ways To Budget For Baby

Your baby’s coming and it’s getting down to the wire! Do you have all your coins aligned?

Try not to stress too much because we don’t want the baby making a surprise appearance. Whether budgeting has been on your mind or you haven't given it one thought, check out these 6 Ways to Budget for Baby:

1. See Where Your Money Will Go

Sit down and make a list. Write out all the things you could ever possibly want or need when it comes to the baby. Next, price it out and compare. Seeing these things written out will ultimately be your blueprint and deciding factor as to what's actually a necessity.

2. Seriously Price Childcare Options

If you know for a fact you can’t swing staying home beyond your allocated maternity leave, you must take time beforehand to really budget out what childcare costs will look like for you. Even if you have family members that say they will chip in and keep your baby, it's better to be safe than sorry and budget it out anyway. You never know what may happen to them or if their circumstances suddenly change. Always plan ahead!

3. Seek A Part-Time Gig

You’ve got your budget down of all the things you’ll need and the costs to expect. Now you have to come up with that money. From the time you find out you’re pregnant, you must start saving immediately. This can come in the form of you cutting out Starbucks as a means to start saving or picking up a part-time gig.

4. Start A Separate Baby Savings Account

Allocate a portion of your check every 1-2 weeks as money solely for your baby. This money needs to go untouched until your baby gets here. What you make outside of that can go towards your immediate bills and even baby clothes.

You will need money saved for your time off of work as well, so try to hold off using any of that savings for her as long as possible.

5. Shop Secondhand

Once Upon A Child should be awarded for the relief they bring to everyday working moms. Having a baby is expensive! Secondhand stores have gently used to new clothes, baby gear, toys, and more – all for a low, affordable price.

RELATED: 5 Ways to Save $10K in 2022

6. Give yourself a quick threshold budget every time you spend

Okay, we all know when we see something, our impulse kicks in and we simply just have to have it. Right then, and there. I totally understand, however, this can lead to overspending every single time you step out.

Give yourself a daily budget and for the days you buy nothing, rollover that budget to the next day. This way you can keep track and stick to a budget that actually works for you and not against you. Skip a few days, don’t go to the store, and at the end of the week, you may be able to splurge on that Boppy pillow you’ve been eyeing!

Tia Muhammad, BS, is an award-winning freelance content & media creative, copywriter, blogger, digital designer, and marketing consultant. She owns the boutique content and digital media company, jackieGLDN|studio.

By Tia Muhammad | Published February 4, 2022