Are You Expecting? Tips to Plan Your Baby Expenses


Having a new member in the family can be exciting but the expenses that follows might startle you, if you are not prepared for it. With right budget planning, you can provide a quality life to your little prince/princess without compromising your lifestyle.

Q1. When is the right time to start planning for the baby’s expenses?

You can start planning from the first trimester, earlier the better. This way, you can have an idea about the expenses for doctor appointments, routine tests, delivery expenses etc. It will also give you time to look out for better financial options.

Q2. What are the major expenses involved?

Make a list of all the expenses that you are about to face which includes:

  • Hospital expenses
  • Doctor appointments
  • Tests and medications
  • Travel expenses (your travel options might change from third trimester)
  • Umbilical cord stem cell banking service
  • Baby clothes and products
  • Nursery or baby furniture (crib)
  • Baby proof materials
  • Vaccinations
  • Regular pediatrician checkups etc.

You can add more to the list according to your requirements. Prepare a budget based on this list and start saving your finances.

Q3. How to manage my current expenses to save for the baby?

Keep a check on all your expenses.

  • Distinguish necessary expenses from casual ones and cut down on unnecessary spending.
  • Avoid expensive baby toys and use them on quality baby products that are required in the first one year.
  • Understand the maternity benefits of your medical insurance, if available and utilize them to save on the medical bills.
  • Cut down your credit card usage and spend based on your budget.
  • Start a recurring account and save little amount every month to manage the big expense with ease.

Q4. What are my other financial options?

  • You can rely on the medical insurance to cover most part of the expense.
  • Talk to your employer about the benefits of maternity leave. Plan ahead, if you are going to extend it.
  • Try to reduce your luxury expenses and save more.


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