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Pregnant woman considers her finances for her baby

Finding out you are pregnant is one of the most exciting moments of your life, and your joy shouldn't be tempered by worry about your financial situation. With some savvy financial tips for having a baby, a little planning, and the wisdom and discipline to save, you can afford to bring this new life into the world! 

If you are unsure where to start, it can help to think of planning for a baby financially as your first real parenting task. With the right insights, you can have peace of mind regarding your finances as you welcome home your little one.

Have a Pre- and Post-Delivery Budget

Budgeting is a powerful financial tool for managing your income and unexpected expenses, but drawing up a budget for welcoming a baby can understandably be overwhelming. One way to combat this and draw up a practical and helpful budget is to create separate financial plans for different stages. Breaking up your baby budget into smaller chunks makes it easier to look at what you need, when you need it, and how you can achieve it.


Baby isn't here yet, but extra costs definitely come up when you're expecting. Budgeting for these essentials throughout your pregnancy will help you cover these additional expenses:

  • Supplements: Your baby's health and well-being are your priority during pregnancy. Prenatal supplements give mom and baby the added vitamins and minerals needed for a healthy pregnancy. Folic acid is especially important in those early weeks.
  • Maternity clothes: Growing a whole human being means lots of physical changes. Maternity clothes are essential for comfort and help moms look and feel their best during an exciting but often emotional time.
  • Doctor's visits: It's vital to look at your health insurance to see exactly which appointments and procedures it covers so you can include out-of-pocket medical expenses in your budget.
  • Prenatal classes: This one may not be necessary after your first child, but for first-time parents, prenatal classes are a must. Being equipped with professional advice and actionable knowledge can make a world of difference throughout pregnancy and especially childbirth.
  • Nursery basics: Your baby's nursery needs to be ready long before they arrive. There won't be any time after the baby is born, so this is definitely an expense you should plan for during pregnancy. At minimum, you'll need a crib and bedding. You may also want to include a changing table, decor, and non-toxic paint in your nursery budget.
  • Miscellaneous: If your baby budget allows for it, try to factor in extras such as pregnancy magazines, a baby shower, a babymoon, or a maternity shoot so you stay on top of all your expenses — even the leisure ones.

Now is also the ideal time to budget for and purchase all the essential baby gear you need upon your little one's arrival. This includes the following items:

  • Bedding
  • Stroller
  • Car seat
  • Pacifier
  • High chair
  • Bottles
  • Baby clothes, blankets, and towels
  • Baby monitors
  • Basic baby first aid kit


Giving birth is one of life's amazing miracles. Keep the focus on a healthy delivery by preparing for these costs:

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  • Birth and hospital costs: Contact your health insurance to ensure you understand your options for birth and the hospital stay and determine what your out-of-pocket expenses will be.
  • Hospital bag essentials: Remember to budget for basic medical supplies like creams, pads, and shields for breastfeeding after the baby is born.


Finally, budget for these vital expenses once your baby is finally here:

  • Post-birth checkups
  • Nest egg for daily expenses while on maternity leave
  • Day-care if returning to work
  • Health insurance coverage for the baby
  • Life insurance coverage for the baby
  • Baby-proofing materials for once the baby can crawl
  • Essentials like diapers, baby wipes, formula, toiletries, and clothing

Register for Gifts

Having a baby registry makes it easy for your friends and family to support you with the items you need most. Directing your friends and family to your registry is simpler than trying to remember what you need every time someone asks. Plus, registries cut down on duplicate gifts and eliminate well-intentioned but unuseful presents. The best part is that you get to curate the list so your loved ones know they are giving you something you will treasure. 

Shop Around for Baby Gear

If you're a first-time parent, it's understandable that you will want everything you get for your baby to be brand new. This desire makes sense for many products — baby's first outfits, bottles and pacifiers, and safety gear like car seats.

It is also good to remember that many options can help you save money on various products. You can look for baby product sales and discounts and shop for quality second-hand clothes, cribs, high chairs and strollers. You may even get some nice freebies from friends and family who have had babies. 

Open a 529 Account

It is never too early to begin planning for your child's future. As you discuss your finances, consider opening a 529 account for your newborn. A 529 offers tax advantages for saving for your child's college or any future educational path. Oklahoma and Texas offer state 529 plans that allow you to save without committing to any college. 

Draw up Your Will

Pregnancy financial planning isn't only about now — it's about the future, too. It's crucial to put a plan in place in case something happens to you and you can't provide financially for your child. 

Drawing up a will ensures your wishes will be followed, and your child can move forward with some financial stability even when the worst happens. You can make a will for a low payment when you use an online program, or you can find a lawyer to create one for you.

Discuss Childcare and Work With Your Partner

If you and your partner aren't sure how things will work once the baby has arrived, it's important to discuss some of these before the baby arrives — who will go back to work full-time, who will take care of the baby full-time, and will you need childcare? 

If so, you must add that critical category to your monthly budget. Childcare can add up, which makes it smart to start shopping around for the most affordable and trustworthy childcare in your area.

Look Into Tax Credits

Taking on the responsibilities of parenthood is a huge undertaking. That's why the government recognizes the needs of parents and offers exemptions and tax credits worth thousands of dollars each year.

Also, if you need childcare, you may qualify for savings at the end of the year related to that expense. Look at estimates for the amount you'll save with only one partner working — it may make more sense financially for one of you to stay home full-time with the baby.

Open a Separate Baby Savings Account

Once you know you can afford all the expenses of a new baby, consider opening a savings account for your child. The money in this account can be seen in one of two ways — as an emergency fund for anything that might come up related to the baby's health and well-being or as a starter fund for their future. Most savings accounts are easy to open and have very low interest, but they are safe accounts that allow you to build your child's future.

Personal Loans for Peace of Mind From Atlas Credit 

Financially planning for a baby is a wise and vital step throughout your pregnancy journey and beyond. But even with the most careful planning, unexpected expenses can come up, and you may need vital products that you cannot budget for now.

At Atlas Credit, we make it simple to apply for personal loans, even if you have bad credit. We believe you should be able to meet your needs and enjoy your pregnancy and post-birth experience regardless of your finances. We have an easy application process and a quick turnaround time for credit decisions. If you are approved, you can cover your baby's expenses and pay the loan off at your own pace for peace of mind.

Apply for a loan today or visit one of our Oklahoma, Texas or Virginia locations to speak to a friendly professional!

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