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So many things go through your mind when you find out you are expecting! Every mama has loads of thoughts, joys, and concerns on her mind daily. In addition to the “are we ready,” and “will I be a good mom?” More practical questions like “how much will this baby cost and how can we best prepare?” also need answering. While babies do cost money, it’s fairly easy nowadays to prepare and find ways to save money for baby while you’re pregnant.

save money for baby

Save Money for Baby

Register Early On

Every baby doesn’t need every baby product on the market. Honestly, newborns need comfy clothes, a safe car seat, diapers, wipes, and their mama. Depending on your budget and how much you want to splurge on the baby “extras” will determine what baby items you want to register for. But, either way, registering early can give you loads of time to buy items here and there as your checks come in. Also, this gives your family and friends time to help you out and choose the items you need and don’t have at home yet. You can register at Babylist or Amazon and pick out all the baby items you want to purchase brand new. Then blast this out to friends and family. Amazon gives you 10% off once you complete your registry which can really help with purchases later on and they also have subscribe and save options of things like diaper and wipes, too!

PRO TIP: Even if this isn’t your first baby, you will always have friends or family wanting to get you and the new baby a little gift. Still Register!

Simplify to Save Money for Baby

I am totally guilty of buying things my baby doesn’t need. But, simplifying your want/need list for baby can be a very simple and easy way to save money for baby throughout your pregnancy. No, you don’t NEED a diaper pail, or 600 matching burp cloths, or a newborn size, $30 Nike Outfit. Splurge where you want but then remember that your baby just needs to be warm, fed, safe and loved! So maybe after you create that baby registry, go back through with a simplifying mindset and knock a few items off!

Second-hand Doesn’t Mean Gross

It’s hard not to purchase everything brand new nowadays. So much pressure for us, our babies and all our accessories to look like they came out of Vogue Magazine. However, this is such a steep trap for us to fall into. Almost every town has a local second-hand baby clothes shop like Once-Upon-a-Child or second hand Facebook groups for baby items. Usually, these are in super great condition and the previous owner just had a baby outgrow them. This can be a great way to get quality baby items and get more for your buck.

Start a Baby Savings Account

Whether you have an extra $5/month or $50/month, consider setting up a high-yield savings account for your baby. This one from Synchrony earns 2.25% APY and has a $0 account minimum balance for earning APY. Whether this is something you gift them when they turn 18 or its strictly for education, or you use it for future expenses related to your baby, having an extra savings account can only help.

PRO TIP: Even if you only did $5/month automatically for 18 years, that will be over $1000 for your newly-turned adult teen!


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Review Your Health Insurance

You will need to add your little one to your health insurance plan once he/she is born. However, it’s a good idea to make sure you know what doctors and hospitals/birthing centers are in-network for you when the time comes. Its also not a bad idea to start looking into pediatricians in network so that isn’t something you have to do once baby has arrived! Calling your health insurance plan or logging in online is also a good idea so you can become aware of any out-of-pocket premiums and expenses you will be responsible for and then you can budget wisely.

PRO TIP: Look into other benefits that are offered through your employer too such as an FSA (flexible spending account) and an HSA (health savings account). If your employer offers these, contribute to them from each paycheck automatically! These are great ways to pay for your out-of-pocket expenses related to pregnancy as well as child-care, acupuncture, chiropractic care and more.

save money for baby

Adjust your Budget to Save for Baby

Your baby will come with monthly expenses such as diapers, wipes, clothes, etc. Consider creating a new budget with these monthly expenses added in before baby arrives. This way your budget doesn’t receive a shock once you are making these purchases. Plus, this allows you the time and ability to shift the grocery budget, extra spending, and other moveable budget items so you can make room for your new little one’s necessities. 

PRO TIP: Don’t have a budget or want one that’s a little more official? Check out One Big Happy Life. They have an amazing YouTube Channel and free budget resources that are awesome and super easy to use!

Consider a 529 Plan

While this is not necessary, some find this to be very important to them and their child’s future. A 529 plan is basically a college fund which can have different investment options. Considering a 529 plan or want to learn more? Fidelity Investments breaks it down really simple and is also an excellent place to start your investments.

Pro Tip: Consider also creating a will and getting life insurance. This is an excellent addition to your family’s financial security but will also provide you with peace of mind knowing your family and baby will be taken care of.

Start an Emergency Fund

My husband and I are firm believers in having an emergency fund. Having 3-6 months of expenses in a savings account is amazing. Even if this is unrealistic to have before baby arrives, saving as much as you can and having this be your goal will be setting you up for great success.

Verify You and Your Partner’s Work Leave

Maternity leave is a fairly common occurrence in the USA however more and more employers are offering paternity leave too. Something to definitely check into and make a plan for. Knowing how much pay you will get with your work benefits can make a big impact on how much time you can take off to just heal and bond with your new baby. Look into your maternity and paternity leave benefits before baby arrives to help you plan!

save money for baby

Tax Benefits for You After Baby

Although this is no reason to have a baby 😉 you do get some great tax breaks after you’ve had your baby! This can be a huge help every April after spending hundreds over the year on diapers and baby products. 

While having a baby will definitely require some money to be moved around to new places, hopefully, these will help you financially prepare for your little one and make the transition to parenthood easy! I am sure if you do these items, they will definitely help you save money for baby while you are pregnant so you can focus on bonding with your new bundle of joy when he/she arrives!

How are you going to save money for baby?

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