4 Helpful Personal Finance Tips for Pregnant Moms
Expecting a child is one of the most exciting things that can happen to you, but it’s also one of the most expensive. Aside from the costs of raising a child to adulthood, you’ll have to deal with more immediate expenses, such as paying for prenatal, delivery, and postnatal care and buying baby food and supplies. To avoid spending too much during this period, you can take the following steps:
Take a close look at your health insurance
You need to find out exactly what your health insurance covers and what it does not. This way, you’ll know what expenses you must pay from your own pocket when you give birth and what they cost. This, in turn, gives you a clear idea of how much you need to save.
Consider your future income
If you’re working, you’ll probably get paid maternity leave from your employer; if you’re self-employed or have your own business, you might lose a large portion of your income when you step back from work to take care of your baby. With these in mind, you have to make plans as to how you’ll support yourself after you give birth. Sit down with your partner to discuss your future income and figure out how you’ll survive on it.
List the items that you need
Babies come with a laundry list of things including baby bottles, swaddle blankets, and infant clothes. List down everything you don’t yet have to ensure you’ll be ready when your baby comes out.
Find ways to save on baby and maternity items
Once you have a list, start looking for ways to get these items without spending too much. Shop for gently used baby clothes (infants quickly outgrow clothes so buying pricey designer stuff won’t make sense), and browse through eBay or Craigslist to find secondhand cribs, changing tables, and other furniture. If you have friends who have already been pregnant, see if you can swap clothes with them to get maternity clothes for free.
Use these tips to enjoy your pregnancy while protecting your financial future.