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Money Do’s and Don’ts: How to save money when you’re pregnant

Money Do's and Don'ts: How to save money when you're pregnant, with MoneyBites
It’s time to find and consolidate your super accounts.

Money Bite-Size Read:

  • Pregnancy is a huge lifestyle change for you and your money.
  • It’s essential to talk about the costs involved and how to manage these.
  • Here’s the money do’s and don’ts on how to save money when pregnant and what to expect to budget for when you’re expecting.

The MoneyBites Take:

Look into the different options and costs available to you to save money when you’re pregnant.


How much does it cost to be pregnant?

We rarely talk about the costs involved in pregnancy, despite the massive change it brings to your lifestyle. The costs of pregnancy quickly add up and vary greatly depending on where in the world you have your babies and the choices your make about your health care.

Money should be the least of your concerns when you’re in labour.

You should be able to afford to enjoy your recovery and time with your newborn, which is why it’s important to talk about these costs and how to save money when pregnant. If you’re not sure what to budget for, an emergency fund can be helpful, particularly when you build up this fund gradually to cover unexpected expenses. So, what’s worth spending money on, and where can you afford to cut back?


Here’s the money do’s and don’ts for how to save money when you’re pregnant:


DO budget for your time out of work

If you’re taking time out to have a baby, you need to budget ahead for your living expenses while on maternity leave and for any additional time you want to spend with the new baby.


DON’T ignore paid paternity leave schemes

Many companies pay your salary during and immediately after pregnancy, including Australia’s paid parental leave scheme, which offers this to new parents. Look into what support is available to you.


DO look for second-hand pregnancy clothes

Pregnancy means your body will change, with the added costs of needing to dress your bump. You’ll only wear them for a few months, so save money when pregnant by buying cheaper pregnancy clothes from charity shops or second-hand clothing websites.


DON’T buy all new baby items

We all want the best for our children, but your baby doesn’t care about brand names or celebrity-endorsed products. So long as the items are clean and meet current safety standards, it’s worth looking at second-hand options for prams, cribs and baby clothes.


DO look for discounts on items you need to buy new

As much as we want to recycle, there are certain items you’ll want to buy new, like a baby mattress. Compare different options, look at price reductions via discount vouchers and sales such as the Black Friday sales season to save money.


DON’T forget your retirement fund

Check whether your employer will be contributing to your retirement while you’re on parental leave. Then, take steps to sort out your super, including making a co-contribution while you’re not earning a full-time wage.


DO consider whether you want to go public or private

While you might have private health insurance, there are still hidden bills involved. Look at all available options, including midwifery group practices, to find what works best for you.


DON’T ignore costs after the baby arrives

Babies introduce a whole lot of ongoing expenses to your budget. For example, nappies, wipes, and baby food quickly add up, ranging from $791 to $1059 in Australia. This is where the emergency fund comes in handy for unexpected expenses after the baby is born.


DO look after yourself post-birth

When you fly, the emergency briefing tells you to put your own mask on before helping others. Make sure you budget for self-care so that you can be the best parent to your new baby, including being able to afford to enjoy activities you love.


DON’T forget about education costs

When a child is born, you’ll need to start budgeting for education costs. Look at childcare costs and how you and your partner can manage the cost of childcare and schooling throughout your careers.

Having a baby is one of the greatest value adds to your life.

There’s no one way to have a child, and we need to talk about the different options and costs involved. Having this conversation early lets you save money when pregnant and spend more time focused on your newborn rather than worrying about your finances.

Written by Kate Crowhurst

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