Baby Finances-Are you preparedCongratulations! Having a baby is an incredibly exciting opportunity. It has its own unique rewards and challenges. One challenge is working out baby finances.

We understand that preparing for the baby’s arrival can be a little stressful. You can expect your expenses to increase, and your income to decrease. But don’t panic! Here are some things you can do to prepare financially before the baby arrives.

Increase your income

Your finances may be tight for a while when the baby comes. If you or your partner can pick up some extra work now, you can increase your savings for later.


Any time your financial situation changes significantly is a time to re-budget. Draft a post-birth budget that will keep you in the green when things get tighter.


Not only should you plan your post-birth budget, start saving an emergency fund now. As a rule of thumb, calculate three months’ living expenses and plan to save at least that much as protection against unexpected financial situations.

start saving an emergency fund now

Reduce debt

Pay down as much debt as you can, especially high interest-rate debt such as credit cards. Repayments will sting you a lot more when your family income is diminished.

Protect your credit rating

You may soon find yourself in the market for a bigger car or house. Make payments punctually and do what you can to protect or improve your credit rating.

Remember your super

Many women overlook their super when they are having a baby, which is understandable. But it can also have significant consequences. Consider talking to a financial adviser to find ways to keep your super growing.

Maternity leave and childcare

Are you planning to return to work after the baby comes? Or stay at home for a period of time? Think about what you want to do and make sure you have a plan.

Relationship time

You will probably has less free time once the baby is born. Take the opportunity now to invest in relationships that matter to you.

Take the opportunity now to invest in relationships that matter to you.

Having a baby is an exciting adventure, and you don’t need to face baby finances alone. Talk to our experienced team today for assistance throughout the journey.

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