Seven Tips to Successful Pregnancy Budgets
If you are determined to start a family soon, you might want to consider the psychological, emotional, financial, and social consequences of having a baby. Apart from missing work and potentially going part time or paying for childcare, you will have to spend a lot of money on baby items, medial bills, and adjustments in your home. To make sure that the costs don’t come as a surprise, you might have to create a pregnancy budget, so you can enjoy every second of your parenthood, without having to worry about your finances. Below you will find seven tips on creating a budget for a new baby.
1. Ask Your Friends Who Already Have a Baby
It is a good idea to sit down with your friends, family members, and colleagues who have a baby and ask them about what they learned. Turn up with a notebook and find out about the cost of having a C-section, and write down the names of the best baby stores you are likely to need to visit for the next few months. You need to find out about all the costs, including nurseries, and parenting courses.
2. Budget for Your Medical Bills
If you have an insurance cover provided by your employer, you might need to look into the details to find out what is covered. It is sometimes better to upgrade your insurance and compare the prices before you decide to get pregnant, as this will save you thousands of dollars. You might have a medical condition that increases your risks of postnatal complications, therefore, you have to sit down with your health care provider and insurance company to determine the budget of your treatment. If you suffer from fertility problems, you have to contact a provider of IVF plans for the price of different treatments.
3. Buy Early and Compare Prices
There are some baby items you will need to have from Day One, including a bed, baby mobile, diapers, clothing items, shampoo, car seat, and a buggy. If you keep an eye out for deals, you can save hundreds of dollars. You can use online price comparison sites, and find the models you prefer at the price you are comfortable paying for each item. The sooner you start looking the more likely you will save money.
4. DIY for Budget Nurseries
One of the most exciting things about planning for a baby is designing the nursery. You can take care of the decoration and even get a friend to help with custom bedding and curtains that will make your baby’s personal space unique on a budget. Look out for discount items and create your own baby mobile and wall decorations cheaply.
5. Use Coupon Sites
If you sign up for deal alerts on popular coupon sites, you can save up to 60 percent on different items you will need. In the first few years, you will need diapers, baby wipes, and bathing products, and it is a good idea to buy bulk ahead of the time, so you don’t have to worry about your monthly expenses any more. Look for baby freebies in your local social media parenting group, on popular online outlets, and in local newspapers and magazines. Coupons can save you a lot of money and hassle.
6. Set Up a Part Time Business
To supplement your income for time off work, you might try to supplement your income and set up a business from home. From tutoring to babysitting and blogging, you have several options to consider. A part time business income can pay for your expensive baby items and allow you to have money left to relax and take some time off work when you need it.
7. Talk About Your Plans with Your Employer
Once you decide to become a mother, you will need to talk to your employer and discuss your options with the HR department. You might be offered maternity leave and flexible working hours for a few months, or reduced workload, so you can stay connected with your workplace and transition back to employment easier after you can find childcare.
Children are expensive, but they are worth every cent. To make sure you are not going to get stressed out over the cost of diapers and baby seats, you should start creating a budget early and have a plan to supplement your income. Get creative in the nursery, take advantage of offers and coupons, and make sure you agree on a deal with your employer before you have a baby and leave.