Dealing with the Financial Stress of a New Baby: These Tips Can Help


Everyone is always quick to talk about how incredible it is to have a baby, share all those special firsts with them, and really savour every single moment there is. And while no-one can take that away or argue those facts, there is also the flip side of bringing home a new baby, especially for new parents who don’t know what to expect, and that’s the financial side. Let’s face it, caring for a baby is expensive. You’ll be going through nappies like crazy, they need clothing, baby gear, formula, if you don’t plan on nursing, food, toys – the list goes on and on, and it can leave your head spinning and your budget ballooning out of control.

planning for a new baby financially


So before you get too caught up in the financial stress of being a new parent, here are some tips that can help you through this rather costly time, and ensure that you don’t go broke and crazy in the process.

Tips for Overcoming Financial Stress of a New Baby

Start Saving Before Your Little One Arrives

One of the best pieces of advice for expectant parents is to start saving money the moment you learn you are pregnant. The longer you can save, the more it will help when your baby does arrive. Even if it’s just a little bit that you can put away each week, that will still add up over time. A rainy day fund is always a smart plan, as it doesn’t even have to be baby-related expenses that you need it for. If possible, it’s also wise to continue putting aside as much as possible even once your baby is born.


Create a Budget

When your baby does arrive, it’s important to re-work your budget and make sure that your new expenses are included. Also, there will likely be a change in income while one parent is home with the baby. A budget can uncover areas that you could be saving money in, and then you can allocate those funds to other expenses or even savings.


Cut Back on Household Expenses

Often this goes hand-in-hand with your budget, as there’s a good chance there will be areas you can cut back on. Some of the best places to save money are on entertainment expenses, dining out, your grocery bill (sticking to what’s necessary, not impulse shopping), clothing expenses, perhaps your cable bill, and so forth. The more you can take from these categories, the more cash you can free up for baby-related expenses.

If cutting back still won’t make enough of a difference, it may be time to think about downsizing major things such as your vehicle and your home.

Make a List of What is Needed

The baby gear, accessories, clothing, and food industries are all massive industries with so many companies trying hard to convince parents that their items are absolute must-haves. With all that marketing and advertising hitting you on a regular basis, it’s easy to be overwhelmed and start believing you need everything, which can result in over-spending. Instead, it’s a good idea to make a list of what is truly needed and then stick to that list.


There are all kinds of helpful articles and lists that you can find online that are able to weed out the unnecessary and frivolous purchases and help you to just stick to the basics. You can also speak to friends and family with babies or young kids and ask for their input on what the most important items are, and those they never used.

Need Cash Fast – A Short-Term Pay Day Loan Could be the Answer

As you go through this list making a mental note of all the items you need to grab before your little one arrives, it’s only natural to get a little stressed about the amount of money you’re going to need in a relatively short period of time. For those who are coming up a bit short at the moment, payday loans can be a great option. These are meant to be small loans that you pay back in a short period of time. You can read more about them here. That extra money can be just enough to get you through until you have the cash saved up.

Ease Up on the Stress

By using these tips, and really thinking through your purchases, you’ll be able to ease up on the stress, find ways to pay for all the necessary items, and learn how to say no to the unnecessary ones.