Expecting a baby? Expect the expenses

expecting parentsAre you expecting? Congratulations!

While you are pouring over baby name books and picking out décor for the nursery, you may want to take a reflective moment. Your life is about to change in a profound way (a profoundly good way).

Take a few minutes to consider and plan for the financial implications surrounding that bundle of joy- both around their impending arrival, as well as in the longer term.

Salary cut?

Are you or your partner taking a maternity/paternity leave? Unless you are one of the lucky ones whose employer tops up their leave pay, that means you are looking at a short-term pay cut.

The other issue is that as your income scales back, your short-term spending is going to ramp up. You’re going to be shelling out on diapers, possibly formula and a host of other baby expenses.

Be proactive now while you are expecting to try and live on less in the short term. Bank the rest to easy the pinch while you are off.

Think about food

This may sound weird, but in the last few weeks before your little one arrives, take some time to menu plan. Have a bunch of friends over for a cooking afternoon and stock your freezer.

When you are sleep deprived, the last thing you want to do is Martha Stewart it up in the kitchen. Trust me, when you actually have 10 consecutive minutes to yourself, it’s nap time.

This means a whole lot of take out, which is not only unhealthy, it’s very expensive. Plan ahead now, pay less later.


You may have no interest in thinking about heading back to work before you’ve even left, but what are your plans for childcare? Investigate now and get yourself on waiting lists if need be.

Find out if your employer offers any sort of alternative work arrangements, like telecommuting or flexi hours, which may let you and your partner share the care, lessening the days that you may have to engage paid care.