Planning to start a family is an exhilarating, but also terrifying time. How will you cope with pregnancy? What will you call your baby? And, most importantly, how much will this new phase of life cost?!
If there's one thing that's proven beyond doubt it's that babies don't come cheap.
We have some advice to help you get ready for a new addition to your family so the worry of buying nappies and keeping a roof over your head doesn't detract from this exciting event.
Step 1: Save, save, save You should be doing this anyway, but as soon as you start thinking about having a child focus on your savings. The more money you can put away before the baby is born means the less stress after, when there's so much else to focus on. This is particularly important if you're going to be dropping down to one income for a while (or permanently). This calculator here will help you work how much you need to put away before you stop working. Click here for lots of info on Savings and Investment accounts.
Step 2: Revise your budget Look at where you can cut back your spending. You'll find that when the baby comes you'll probably spend much less on socialising for a while and if you're off work you'll save on clothing, food and transport costs - not to mention those nine months you can't drink - think what you'll save on wine! But you're also going to have other costs - babies do require a lot equipment. Click here for a free Budget Calculator to help you do the sumes.
Step 3: Spread your expenses While you're pregnant start adding a box of nappies to your weekly grocery shop. Keep an eye on sales and get your baby gear and clothing when you see good deals. Also, don't forget that you'll probably receive a lot of gifts and excited grandparents often want to help out with the new arrival. Friends who have already had children might have equipment or clothing they can pass on and you're sure to find some bargains on TradeMe.
Step 4: Think of the future Now is also a good time to make sure you have adequate insurance cover. Home, life and income protection insurances become even more important when you have a wee, defenceless bundle of joy to consider! It's also important to revise your will to make sure your child is covered. As horrible as it is to think about, you need to consider carefully who would care for your baby if something happened to both you and your partner. Westpac have plenty of options to ensure you’re full covered. Find out more here.
Whatever you do, don’t over think things – there’s no such thing as the perfect time to have a baby, so as long as you’re comfortable you can provide for your little one then you’re already on track to being a great mum!
Planning to start a family is an exhilarating, but also terrifying time. How will you cope with pregnancy? What will you call your baby? And, most importantly, how much will this new phase of life cost?! 
Step 1: Save, save, save
Step 2: Revise your budget
Step 4: Think of the future(585).jpg){kind=small}