10 Money Moves to Prepare for Baby
1. Start or add to your emergency fund
How much should you have in an emergency fund?
2. Get life insurance
3. Figure out how much you will have to adjust your budget
- How much will you spend on diapers and clothes?
- Will you breastfeed or formula feed?
- Will you need childcare?
4. Get your financial life and debt in order
5. Make extra income with side hustles
Related Article: 7 Ways to Make Extra Money from Home
6. Be realistic about what your baby needs & buy secondhand
Related Article: Baby on a Budget – 8 Things You Don’t Need
7. Master meal-planning and prepare freezer meals
- 8 Freezer Meals that Make Delicious Dinners
- 15 Budget-friendly Kitchen Gadgets that Make Meal Prep Easier
8. Use Amazon Family to Save Money
9. Take advantage of freebies for moms!
Use the promo code READY4MOTHERHOOD at any of the following stores for your free stuff:
- Carseat Canopy ($50 value) carseatcanopy.com
- Nursing Pillow ($40 value) nursingpillow.com
- Udder Covers ($35 value) uddercovers.com
- Breast Pads ($35 value) breastpads.com
- Custom Pacifiers ($30 value) custompacifiers.com
- Hooded Towels ($35 value) hoodedtowels.com
- Little Wanderers ($60 value) littlewanderers.com
- Milk Bands ($35 value) milkbands.com
- Baby Leggings ($50 value) babyleggings.com
- Seven Baby Sling ($40 value) sevenbaby.com
- Babsy Books ($40 value) babsybooks.com
- Pregnancy Pillow ($50 value) pregnancypillow.com
- Ruffle Buns ($60 value) rufflebuns.com
10. Create a will.
Talking about a will may be another difficult subject to think about during this time of your life. Even if you don’t have many assets or belongings, think about who you would want as the guardian of your children in case both parents passed away. Do you want your children to be the sole beneficiaries of your assets and life insurance, or do you want to leave some financial assistance for the guardian? These are just a few of the things that you can think about.
Now that you’re all set financially, you can focus on the wonders of welcoming a new bundle of joy into your home. Congratulations! I’m sending lots of love to you and your family.