Budget for Having a Baby

Having a baby is wonderful, but it helps to be financially prepared. Understanding the costs involved lets you enjoy your new arrival without money stress.

One-Off Costs to Consider

Before baby arrives, you'll need essential items. A cot, pram, car seat, and clothing are the main upfront costs. Consider buying some items pre-loved to save money.

Big-ticket items like prams and car seats should be bought new for safety reasons. Other items like clothing and toys work well bought second-hand.

Ongoing Monthly Costs

Nappies, formula (if not breastfeeding), clothing, and wipes add up monthly. Budget around £60-100 per month for essentials. Childcare is often the largest expense for working parents.

Consider whether one parent will stay home or if childcare costs make working worthwhile financially.

Income Changes

maternity or paternity leave affects your income. Statutory Maternity Pay covers 90% of earnings for 6 weeks, then £184.03 per week. Plan your budget around this reduced income.

Check if your employer offers enhanced maternity pay beyond the statutory minimum.