When my husband and I found out we were pregnant, one of the first things we did (after the happy tears and panicked Googling) was sit down and look at our finances. What are we spending now? What will we need to add? What can we cut back on without feeling like we’re giving up every little joy in life (yes, I’m looking at you, overpriced candles)?
If you’re expecting and trying to figure out how to financially prepare for a baby, I promise — you don’t need a fancy app or a paid subscription to get started. We skipped the budgeting apps and created our own DIY financial plan using nothing more than a simple Google Sheet.
Step 1: Download Your Spending
Start by pulling your income and expenses from the last month. Most banks let you download this easily as a CSV or PDF. From there, break everything down into categories that make sense for your lifestyle.
Here’s how we categorized ours:
- Bills (utilities, taxes, car payments, insurance)
- Dog expenses
- Medical expenses
- Subscriptions
- Investments
- Miscellaneous spending (warning: this list is usually LONG)
- Income
We even took it a step further and split the “miscellaneous” spending by person, so we could see where each of us was accidentally hemorrhaging money. Then we added a simple formula: income minus total expenses. The result? A lovely little number at the bottom — red if we were in the hole, green if we had room to breathe.
Looking for a free budgeting template to get started? Click Here
Step 2: Review Line by Line (Yes, All of It)
Then came the real fun (read: minor existential crisis). We went through every single line item and asked ourselves:
- Can we cancel this? (Like my gym membership that I forgot I had… classic.)
- Can we cut this back? (Do we really need takeout every Friday and Saturday? Probably not.)
- Can we make a smarter swap? (Big Y is insanely more expensive than Aldi, so we adjusted our grocery game accordingly.)
We also looked ahead and added in new baby-related expenses like:
- Life insurance
- Potential daycare costs
- Medical bills for baby appointments
We didn’t try to predict every baby cost down to the last diaper. For us, this wasn’t about planning for every tiny onesie or bottle. It was about setting ourselves up to feel comfortable — knowing we could handle the big stuff and save smartly in the months ahead.
Step 3: Keep It Real (And Revisit Often)
I’ve always been a little afraid of money. It’s overwhelming, and if I’m being honest, I’ve avoided it more than I care to admit. Thank goodness for my husband, who gave me the gentle nudge I needed.
But once we laid it all out, it wasn’t as scary as I expected. And more than anything, it made us so much more mindful of our spending. Now, we question everything we buy — maybe a little too much, but hey, awareness is half the battle.
A Final Word from a Fellow Mom-to-Be
If you’re feeling overwhelmed by the idea of financially preparing for a baby, I get it. I’m right there with you. The economy is wild, the costs are real, and you’re growing a tiny human on top of everything else. But taking this one step at a time really helped us feel more grounded and confident.
You don’t have to have it all figured out. But starting somewhere — even with just a simple spreadsheet and a few honest conversations — can make a big difference.You’ve got this, mama. And if no one’s told you yet: you’re doing an amazing job 💕
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