How to budget for a new arrival for the arrival of a baby can be stressful enough without also having to worry about how you’re going to afford to feed and clothe them. If you and your partner both work full-time, you’ll also have to consider how much childcare is going to cost and how you are going to pay for it in addition to all your other outgoings.

Here are a few tips on how to budget for your new arrival so that at least one burden is removed.

Calculate your finances

Using a savings calculator from can be a great help in aiding you to work out your total expenses and income so that you can budget more effectively. Your earnings may vary from month to month or week to week, so being able to keep track of your payments on a regular basis is essential.

This calculator will also help you to work out how much you can afford to invest and how much you need to save, providing you with the rate of return you can expect based on how long you plan to save for and the top rate of tax.

Prepare for unexpected costs

When welcoming a new child into your home, issues such as heating and the safety of electrical appliances become of increased importance. Especially if this is your first child there are many aspects of bringing up a child which you probably haven’t thought about.

For example, who’s going to get up at 3 o’clock in the morning to change their nappies or send them back to sleep? Unexpected expenses such as the cost of toys, leisure, recreation and toiletries can be an extra headache on top of the outgoings already factored in to your spending so make sure you prepare for them as best as you can.


All the preparation in the world won’t make the costs of raising children go away and you need to remember that the costs don’t stop here. Once you’ve welcomed the new arrival into your home you’ll be footing the bill for them for the foreseeable future and this can mean contributing towards university fees, helping them buy their first car or even giving them some money to put towards a deposit on a house.

Regularly putting money aside can help with this so set yourself a target and make sure you save as much as you can, using a suitable account to get a good rate of interest back on your investment.

Embrace second-hand

If you have older children, recycling the clothes they’ve grown out of will save you a great deal in the long run. The toys and books they have used can also be given to the younger siblings or sold second-hand if they’re no longer of any use. You’ll be surprised how much money you can get back and looking for second-hand options when buying these items for your kids is equally beneficial.

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