How to Budget When You're Having a Baby

Budgeting for a newborn baby is key to reducing stress on the family.

• The family's income may be lower due to mum not working leading up to, during and after pregnancy
• Detailed cash flow planning is a must to ensure sufficient monies are available to meet the family expenses
• You should revise your expenditure budget to include costs of newborn baby (you can use our budget template)
• You should include hospital costs
• It is important to review life insurances (life, trauma, TPD, income protection).

Here is a related article from AFA content hub - it is a good read covering public and private healthcare, day-to-day baby costs and costs after the baby arrives.

If you have any queries you can contact us for assistance.