3 Proven Ways To Remove Financial Stress While Pregnant - Baby Chick
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3 Proven Ways To Remove Financial Stress While Pregnant

Here are three proven ways you can reduce your financial stress while pregnant, with several strategies to help you reach your goals.

Updated March 17, 2024

by Meredith Rines

Accountant and Certified Financial Planner

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When I was pregnant with our son, I remember bouts of panic hitting me — could we really afford a baby? Sure, my husband and I could pay our bills and save a little extra each month, but we weren’t traveling to exotic places or living large. The thought of having to provide for another person (especially one so helpless as a newborn baby) was scary. After my son was born and I talked to other first-time and second-time moms, I realized my fear wasn’t specific to me. It seems most expectant mothers worry about money and whether we’ll actually be able to afford everything we need. We’re already picturing the college expenses for our little one, and they aren’t even here yet!

Sometimes, we need to take a step back and just create a plan. As someone who loves a good to-do list, I think having a financial checklist while you’re pregnant is a great place to start to relieve some of that stress and worry.

3 Ways To Remove Financial Stress While Pregnant

Here are three proven ways that you can reduce your financial stress when you’re pregnant. Each step has multiple ways to reach your goal, so you can easily find a solution that fits your current situation:

1. Get Your Budget Ready

Spend time reviewing your budget before baby comes. You might need to be more mindful of your spending — eating out, groceries, entertainment, etc. Once you have a good handle on your expenses, you can start building in future expenses for the baby. This is a great way to learn to go with less for those discretionary items. Include expenses such as daycare, formula, diapers, doctor visits, etc.

Call around to get an average price or research online to determine the typical monthly expenses. Then, you can add that to your budget. It’s recommended to physically remove those new expenses from your checking account. So, transfer those into a savings account (which will help you quickly build your cash cushion, too).

It’s also smart to budget for items you don’t think you’ll need, such as formula and bottles. Hopefully, if you want to breastfeed, then you’ll have no issues; however, that isn’t the case for all moms. Take it from someone who drove herself crazy trying to breastfeed and produce breast milk. It just wasn’t in the cards for me, so we ended up having to buy formula for our baby.

2. Build a Cash Cushion

Experts recommend that families have a minimum of $1,000 in their emergency fund at all times.1 However, when you’re expecting, it doesn’t hurt to have enough to cover your family’s insurance deductible in addition to your $1,000 minimum.

Research your medical insurance online or call your provider to determine your family’s deductible. As a mom, you probably have a deductible of anywhere from $500 to $1,000 for the year. However, your family deductible could be $2,500 or higher. It’s best to be prepared if you have any other medical conditions that arise during or after your pregnancy or to cover your newborn if they need to be admitted to the NICU for any period of time.

A quick way to build your cash cushion before the baby arrives is to save at least 10% of each paycheck. You can set an automatic transfer through your bank to send a set amount on payday to your savings account. You probably spend more than 10% of your paycheck each month eating out for lunch and dinner, so make an effort to eat at home more and bring your lunch to work during the week.

3. Save More on Things for Baby

Many new parents are fortunate enough to have multiple baby showers thrown for them. This is a great way to get lots of baby items! However, there are probably a few items you’ll still need to buy before baby arrives. Here are some great ways to save money on those things:

Amazon Baby Registry

If you love Amazon, signing up for their baby registry is a no-brainer. They have thousands of items to choose from, and they make it easy to share your wish list with friends and family. Plus, for those non-Prime users, you can get free shipping on orders of $35 or more. In addition, Amazon offers a 15% completion discount for items ordered off the registry, giving you up to $300 in savings. If that wasn’t enough, they also give you a free welcome gift and free returns on any gifts purchased from your Amazon Baby Registry for up to a year.

Company Newsletters and Free Samples

Sign up for all the baby product newsletters you can find through companies like Enfamil, Similac, Pampers, and Huggies. Most will send you samples of their products and coupons. More than likely, if you enter your child’s due date or birthday, the company will also send samples through the first 12 months. They may even continue to send samples through their toddler years!

In-Store Registries

Retailers like Walmart and Target offer welcome boxes with samples and coupons when you sign up for their baby registry. Target even offers a 15% discount that you can use eight weeks before your expected arrival date. This is a great way to get expensive items (like a crib, car seat, and rocker) you’re afraid no one will be able to afford. Similarly, Pottery Barn Kids has a 15% completion discount for their registry. They also offer free nursery design and registry advice, which can be super helpful!

These simple tips can help relieve some financial stress while you’re pregnant and preparing for the addition of your new baby. By budgeting for items appropriately, building your cash cushion, and taking advantage of free gifts and savings from different companies, you’ll be on your way to reaching your financial goals.

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Meredith Rines, MBA, CFP®
Meredith Rines Accountant and Certified Financial Planner
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Wife, Mom, MBA, Certified Financial Planner, and a budget and financial strategist helping families pay off debt and live the life they've always wanted. Meredith resides in Missouri with her… Read more

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