Saving money during pregnancy


Congratulations, you’re having a baby! That’s so exciting. You’re probably a little bit nervous though – and that’s okay, change is never easy.

We want to help you, so we put together a few tips on getting financially ready for starting a family.

Create your new budget

This helps you find ways to save money and gives you a better idea of what you’re saving for.

  • Steps to creating your new budget

    • Download 6 months’ bank statements and make a detailed spreadsheet of your expenses.

    • Cut all unnecessary spending. It’s shocking how much restaurant bills, takeout’s or even those cappuccinos at work round up to after 6 months.

    • Create your new monthly budget for the next 9 months (or how ever many months of pregnancy you have left).

    • Write up a list of the once-off (and most likely expensive) things you need to start buying – pram, crib, car seat, baby mattress, etc. Look online for different product and best prices and then compare deals.

    • Figure out when you’re going to buy which item and work the estimated cost into that month’s budget.

    • Remember to include debt, future investment returns or other extra incomes to your budget sheet. The point of this exercise is to see the big financial picture, so take your time and really get into detail.

Build a savings plan

Saving money is easier said than done, but the sooner you get into the habit of it the better.

Now that you’ve figured out exactly what your financial situation is, you can work out what you can put aside.

  • Two types of savings plans to create

    • A short-term savings plan for the few months after your baby is born. This will be used for emergency purchases or for last minute things you didn’t realise you’ll need.

    • A long-term savings plan. Even if you can only start small, it will get you into the mind-set of growing your wealth and saving for long-term expenses like education.

    When you’re putting money aside, remember that investing will help this money grow. Consider building an investment portfolio instead of keeping your money hidden in a dark and dormant savings account.

Find gaps to save money 

You already know what you’re going to cut back on, but have you considered how you can save money on your fixed expenses?

  • Monthly instalments you can relook

    • Contact your medical aid and ask them detailed questions about your plan. You must make sure that you’re paying for the right kind of cover. Remember to ask about doctors’ consultations, labour and delivery terms, newborn care and follow up visits.

    • Re-evaluate your car and home insurance premiums to see if you can negotiate a better deal. Research the plan you’re on and compare it to different offerings or even other companies’ deals.

    • Create a grocery-shopping plan. Micromanaging your money really helps you save, plus it will help you create a healthy eating plan too. Remember to make good use of different reward points or loyalty advantages.

    • Save money in the long run by settling your debt soon. This doesn’t mean deprive your income until every cent is gone, just work with your money responsibly.

Remember the baby shower

Baby showers and nappy braais are the best thing soon-to-be parents can ask for during this time of intense preparation. Make the most of this opportunity by guiding your close friends and family through your gift wish list.

  • Five top tips

    • Keep them up to date on bigger purchases you’ve already made.

    • Communicate what theme or colour scheme you’re going for in the baby room.

    • Keep track of the clothes you’ve already bought for different ages. Babies grow by the second, there’s no use in having too many outfits for the first few months!

    • Suggest that someone creates a Whatsapp group where guests can talk about different present ideas. All too often people end up with 57 new baby blankets and only 3 bottles!

    • Don’t feel awkward about creating a gift registry. Guests truly appreciate knowing that they’re getting you something you really need.

It’s completely normal to want to give your baby everything in this world, so you don’t have to force yourself into sticking to the bare minimum.  As long as you curb irrational and irresponsible spending, you can treat your baby and still save money.

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