Whether you’ve been trying for a while or it was a complete surprise, finding out you’re pregnant is a wonderful and exciting time. There’s no joy quite like finding out you’re going to be parents (or parents again!) However along with the feelings of happiness, there are also likely to be some worries and stresses too. For many expecting parents, it’s wondering whether they can afford everything their new baby will need. Luckily you have a good few months to prepare for this, and so getting your finances order as soon as possible is worthwhile. Here are a few things to consider.
Buying Baby Items
For such a small person, a new baby needs a lot of stuff! Your best bet here is to write down a list of everything that you need to buy in the coming months (there are lots of helpful lists online) and tick things off as you go. That way you’re not accidentally buying repeats of things, and you can get a few items each week to spread the cost. Bear in mind that friends and family will probably want to buy baby outfits and other gifts when they find out, so tick these off too and perhaps hold back on buying some things if you think it will be bought for you. Often parents and grandparents like to help by purchasing a large item like a car seat or pushchair, so if you’re offered the help don’t be too proud to accept! This frees up money that you can spend elsewhere on other baby items.
Your Home and Car
Having a baby is a huge change of lifestyle, and two things that might not be up to scratch for a baby is your home and car. If you live in a one bedroom apartment for example or a place with lots of stairs and no lift, you might want to consider moving. Sure, the baby will be sleeping in your room for a good few months but they will need their own nursery eventually. If you’re able to, moving now will save you hassle later down the line and will allow you to get settled ready for when they’re born. Your car might also be too small, if you have a three-door car it can be a hassle pulling the seat forward to get your baby in and out. Maybe you already have other children using car seats or booster seats and don’t have space for another. In this case, a bigger car will be needed. You could look into quick loans no credit check same day payouts for an easy way to raise the cash, or have a look at different car finance options. If you part exchange your old car, you have some money to put towards it.
Work and Childcare
One question you will need to consider after having a new baby is how much time you will take off work. Work out how much time you will be able to take before returning based on your financial situation. Bear in mind there are often government schemes and grants to help with childcare which can make the situation easier. You could also ask family members for help looking after children which could be an option if you’re returning to work.