Healthy living

Money, budgets and saving when you have a new baby

Having a baby can put financial pressure on a family. You may have gone from a two income family down to one and be wondering how you are going to manage. The best time to start thinking about managing your money with a new baby is before your baby is born. Add up how much income you will have after the baby is born, how much parent leave, paid or not paid, you are both entitled to, and how long you are both planning on being off. Having a good idea of the money you will have coming in can be a powerful tool in planning a budget.

Do you have a budget?

The best way to manage your finances is with a budget. It’s not very exciting, but it will help you see where your money is going and how you might be able to cut back. There are plenty of templates on the internet. Start with a Google search for ‘simple budget’.

Ways to cut back

Shopping and entertainment

  • You baby doesn’t need everything brand new. There are some great second hand baby markets around you can check out or try looking online.
  • If your local community has a toy library you can save lots by borrowing toys that may only be used for a short period of time.
  • It’s a great idea to try and plan out your meals for the week and shop to a list. You can even get your shopping delivered to save time, and temptation with the check-out line chocolate bars!
  • Scan junk mail for specials and vouchers and stock up when things are reduced. You will always need more toilet paper!
  • Buy generic brand medications.
  • Your local library is your friend. Not only will they have lots of books and magazine you can borrow, but also e-books, DVDs, music and more.

Eating and drinking

  • Save the planet and your pocket by taking your own coffee and water with you when you go out
  • Plan a picnic if you are heading out. This can be less stressful when you’re eating with a baby in tow, and will save money.


  • Find out if your bank charges fees for not using their ATM, and if they do, make sure you never pay them.
  • Make the switch from credit card to debit card.
  • Keep an eye on your bank balances – avoid paying overdraft fees.

Home and car

  • Turn off appliances at the power point – standby electricity adds up.
  • Check the cheapest fuel online before buying petrol, and take your fuel vouchers.
  • Have a regular car service to avoid most major problems (and related expenses).
  • Review your home and car insurance, there can be big saving to be had.

Know your entitlements

This is general information only. For professional advice, consult a financial advisor.


Women and Newborns Health Service

This publication is provided for education and information purposes only. It is not a substitute for professional advice. Information about a service, product or treatment does not imply endorsement and is not intended to replace professional advice. Readers should note that over time currency and completeness of the information may change. All users should seek advice from a qualified professional for answers to their questions.

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