Expecting a baby is an exciting and transformative time filled with anticipation and joy. But can also bring financial challenges. We’ve compiled the ultimate guide to save money during pregnancy.

This guide covers everything from budgeting tips to smart shopping strategies to ensure you can enjoy this special time without breaking the bank.

The best part?

Every tip in this guide is proven to work.

So, if you want to be financially prepared for your new arrival in 2024, you’ll love today’s guide.

Let’s dive right in…

How Much Money should you save During Pregnancy?

Knowing the financial landscape is crucial when preparing for a baby. From prenatal care to delivery, the costs can be significant, which explains why many new mothers frequently ask: how much money should you save during pregnancy?

On average, vaginal births cost about $14,768, and cesarean sections about $26,280 in the USA. And that’s just the start. If you’re wondering how much money to save during pregnancy, the answer is at least $30, 000. Aim to save this amount to cover childbirth expenses and potential additional costs.

It may help to create a detailed budget to help you track and manage these expenses. Start by listing all anticipated costs, like medical tests, maternity clothes, and baby gear.

Categorize them into essentials and non-essentials to help you set realistic savings goals and ensure you’re financially prepared for every stage of your pregnancy journey.

How to Save Money during Pregnancy Before Baby Arrives

Starting to save early is key. Here are some proven strategies to save money during pregnancy before the baby arrives;

• Build a 6-Month Emergency Fund to Save Money During Pregnancy

Aim to save enough to cover six months of living expenses. This cushion will help you manage unexpected costs and reduce financial stress.

To save for a six-month emergency fund, set aside a portion of each paycheck. After that, cut back on non-essential spending and consider a side gig to boost your savings.

• Reduce Unnecessary Expenses

Take a hard look at your current spending habits. Dining out frequently?

Try cooking at home. Subscriptions you don’t use? Cancel them. Opt for generic brands instead of pricier name brands.

• Pay Down Debt

One of the best hacks to save money during pregnancy is to focus on paying off high-interest debt first. Doing so will not only free up more money for pregnancy-related expenses.

It will also help reduce financial stress and minimize the total amount of interest you’ll pay over time. This will make allocating more funds toward essential items and savings for your baby’s future needs easy.

• Limit Baby Toys

It can be really tempting to buy lots of baby toys. But did you know that there are many household items that can keep your baby entertained?

Take, for instance, an upside-down saucepan and a wooden spoon. These everyday items can make a fun drum. Simple, everyday objects can be just as engaging for a baby as expensive toys. 

• Find an Easy Side Hustle

Consider finding a side hustle that doesn’t require too much heavy lifting and can be managed alongside your regular job and pregnancy. Earning apps like Swagbucks, Rakuten, and TaskRabbit can help you earn extra money through simple tasks, surveys, and cashback offers.

These platforms allow you to make money during your free time without significant effort. And the best part is that they do not need any investment.

• Research Nappies to Save Money During Pregnancy

Sometimes, it seems that no matter how well you’ve kept costs down while preparing for your newborn, nappies will still be a significant expense.

But you can still save money on them. When trying to save money during pregnancy but worried about nappies, look for deals and discounts at various stores. Also, consider using reusable nappies to save money and reduce environmental impact.

• Join Baby Classes or Playgroups

This may sound cliché, but it is still worthy of a mention! Participating in baby classes or playgroups can be a great way to meet other parents and get valuable advice.

While some classes can be expensive, many community centers offer free or low-cost options. Look out for these to stay within budget while still benefiting from social interactions and learning opportunities.

• Explore Benefit and Grant Options

When you find out you’ll be a parent, it’s normal to worry about money. This is especially true if you or your partner plans to take a break from work.

Research the various benefits and grants available to parents. You might be entitled to more financial support than you think, such as child tax credits, maternity grants, and other government assistance programs.

• Create a Baby Budget

To save money during pregnancy, you will also want to outline all potential expenses related to pregnancy and baby care. This includes medical costs, baby gear, maternity clothes, and more.

Categorize these expenses into essentials and non-essentials. And then prioritize your spending accordingly. Having a clear budget will not only help you stay on track but also avoid overspending.

• Use Discount Apps and Coupons

Take advantage of discount apps, loyalty programs, and coupons to save on groceries, baby products, and household essentials. Many retailers provide substantial savings through these channels.

If you know where to look, these channels can help you stretch your budget further. Check for new offers and promotions regularly to maximize your savings and make managing your finances more manageable.

• DIY and Homemade Solutions

Whenever possible, opt for DIY solutions. Homemade baby food, for example, can be much cheaper and healthier than store-bought options. Similarly, creating your own cleaning supplies and personal care products can save money and reduce exposure to harsh chemicals.

How to Save Money During Pregnancy on Maternity Clothes

Maternity clothes don’t have to break the bank especially if you’re looking to save or even make some money on the side. Here’s how to save during pregnancy on maternity clothes

• Buy Second-Hand

Thrift stores, consignment shops, and online marketplaces like eBay and Facebook Marketplace are treasure troves for affordable maternity clothes. Many items are gently used and in excellent condition.

• Borrow or Swap

Have friends or family who recently had babies? Borrow or swap maternity clothes. It’s a great way to save money and keep your wardrobe fresh.

• Invest in Basics

Purchase a few versatile, high-quality basics that you can mix and match. Look for stretchy fabrics and adjustable features to accommodate your growing belly.

Managing Medical Expenses to Save Money During Pregnancy

Medical expenses can be one of the biggest costs during pregnancy. Here’s how to manage them;

• Understand Your Insurance Coverage

Review your health insurance policy to understand what’s covered and what isn’t. Know the details of your deductible, co-pays, and out-of-pocket maximums. If you’re uninsured, look into government programs or financial assistance options.

• Choose a Cost-Effective Birthing Plan

Explore different birthing options, such as birthing centers or home births, which can be less expensive than hospital deliveries. Discuss these options with your healthcare provider to determine what’s safe and suitable for you.

• Negotiate Medical Bills

Don’t hesitate to negotiate your medical bills. Many hospitals offer payment plans or financial assistance programs. Contact your healthcare provider’s billing department to discuss your options.

Long-Term Financial Planning to Save Money During Pregnancy

Long-term financial planning is essential for your child’s future. Here are the steps to take:

• Set Up a Savings Account for the Baby: Open a savings account dedicated to your child’s future expenses, such as education. Regularly contribute to this account to build a substantial fund over time.
• Plan for Educational Expenses: To prepare for future educational costs, consider setting up a 529 college savings plan or other educational savings accounts.
• Teach Financial Literacy: Start teaching your child about money management from a young age. Simple lessons about saving, budgeting, and spending wisely can set them up for financial success in the future.
• Double your Income: Increasing your income does not only enhance your financial stability. It also offers you the flexibility for unexpected expenses and also reduces stress. To double your income, consider side hustles, passive income, career advancement, and remote work. They can help you build a more robust emergency fund, pay off debts faster, and invest in your child’s future.
• Seek Financial Independence: Strive for financial independence to secure your family’s future. Reduce reliance on traditional employment by diversifying income streams. Explore entrepreneurship, investments, and passive income opportunities. This path provides financial security and opens doors to pursue passions while supporting your family.

Closing Thoughts on how to Save Money During Pregnancy

Pregnancy is a time of joy and anticipation but also requires careful financial planning. Start planning and saving early, and remember that every little bit helps.

We hope these tips help you manage your finances during pregnancy. If you have additional tips or experiences, we’d love to hear from you in the comments below. For more financial planning advice and tips, subscribe to our blog or post a question in our forum section and stay informed.