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How to Avoid New Baby Budgeting Blues

Having a baby might be a wonderful experience, but it’s difficult to ignore the expense that comes hand-in-hand with the pitter patter of tiny feet. Babies need a lot of things that you wouldn’t generally account for in your budget, like formula, new clothes, nursery furniture, and countless diapers. If you’re not careful, you could end up spending thousands of pounds before you’ve even hit your second trimester. 


It’s easy to get overwhelmed when you’re preparing for the arrival of a new baby. However, the critical thing to remember is that just like any other financial goal, making sure that you’re ready for a baby just requires a little bit of planning and the right budget. 

Here’s what you need to know if you want to avoid excessive new baby debt.

1. Decide if You’re Going to Need a Loan

When most people think about taking out a loan, they consider borrowing money for things like a new car, or even a new house. However, there’s also a chance that you might need to turn towards loan products for help with your baby costs too. Don’t wait until the baby arrives to start considering your loan options. Start by figuring out how much you need to borrow to pay for things like prams and car seats now, and head online to compare your options.

Remember, even if you don’t have the best credit, you can still reduce the amount you need to spend on your loan by comparing providers such as HappyPenguin Loans and looking for the one that can give you the lowest interest rate and the least fees. 

2. Get Ready to Adjust your Lifestyle

There’s a good chance that you’re going to need to do some compromising to make sure that you can afford your new baby. After all, with new expenses to think about, something in your budget is going to need to take a hit, and you can’t afford to ignore things like your rent payments or your emergency savings. With that in mind, look for thing you can cut down on.

Maybe you can afford to spend less on entertainment each weekend – as you’re likely to spend more time at home with the baby anyway. Additionally, there’s a good chance you’re not going to be interested in going to the gym for a little while after your bundle of joy arrives so that you can cut costs there too. 

3. Find Out What Financial Help is Available

Even single parents aren’t alone when it comes to raising a baby. Maternity leave is available to mothers around the UK, although the amount you get from your employer can vary. It’s a good idea to get in touch with a boss and learn as much as you can about what you can expect to receive while you’re away from work. 

While you’re at it, think about creating an appointment at your local citizen’s advice bureau, where you can find out about any child tax credits or government schemes you can get involved with. You’d be surprised how much help is out there if you’re willing to search for it.

4. Remember Other Kinds of Assistance

When it comes to getting help with the baby budgeting blues, don’t forget that it’s not just financial assistance that you may need to think about. Asking around among your friends and family members to find out what kind of support you can get with things like babysitting and childcare will save you a fortune on paying for babysitters. 

Additionally, don’t be afraid to ask about hand-me-downs from other people in your circle that have recently had children too. Most people won’t mind letting you borrow some essentials, so you don’t have to splash out extra cash yourself. 

5. Practice a Frugal Lifestyle

Finally, as soon as you learn that you’re pregnant, start working on becoming more frugal with your money. That means continually looking for ways to cut the costs of everything that you buy – whether it’s food or baby supplies. Go online to check whether you can get lower prices from another supplier or find out whether it’s cheaper to buy certain items in bulk.

Some companies like Boots and Amazon even allow you to sign up for free parenting communities where you can get access to vouchers and special deals on the must-have items you need. The quicker you get into the routine of using these tools, the better off you’ll be when your baby arrives.