Managing Your Finances During Pregnancy: 9 Pointers 

If you have a baby on the way, congratulations! That’s wonderful news. At the same time, you may have a few concerns about your budget. After all, you’re now responsible for supporting at least one new life.

Few would argue that giving birth is inexpensive. However, you can get your budget under control by simultaneously cutting back in some areas while boosting your income. Here’s how.

Tips for Saving Money

Ah, the lure of those adorable baby outfits and that to-die-for nursery gear. You might feel tempted to break out the credit card, but before you do, remember! Most baby items see limited use.

Do you genuinely need a designer outfit your kiddo will wear once, spit up all over, then outgrow?

1. Shop in Your Closet

Chances are, you have a few items that you can wear even in your third trimester, like maxi dresses. Plus, if you find yourself now working from home, you don’t need as extensive of a maternity wardrobe.

Sure, you can find $100 maternity jeans, but do you need them if you only run out to the grocery?

2. Use Hand-Me-Downs

Your baby will throw up all over their shirts, and that’s not all. Why let them defile a $40 set of duds? Plus, they outgrow clothing faster than you can buy them.

If you have a family member or friend with a few hand-me-downs to spare, take advantage.

3. Refinance

Depending on your circumstances, now may be the ideal time to refinance your mortgage. If you wait until you go on maternity leave to apply, your income will likely decrease.

Additionally, your lender might have questions about your future ability to make payments. If you have a partner who also works, you will probably have a more streamlined time winning approval.

4. Click Unsubscribe

Like it or not, you live in a subscription economy, and many people have recurring charges for items they no longer use. One fellow found he paid $40 a month for in-flight WiFi for eight months while he was safely grounded. That amount would pay a monthly utility bill in some areas.

Download an app like Truebill and enter your information. Do you need a subscription to the Tai Chi Move-of-the-Month club any longer, or can you go without to save money?

5. “Upcycle” Your Produce

Things could be worse — the current pandemic could have struck in the dead of winter. Now, however, you don’t have long to wait until planting time. If you live in the south, you could enjoy peak season already.

Learn how to save the seeds from your produce and start seedlings indoors. When they grow large enough, replant them in your garden. This way, your family will always enjoy a supply of fresh vegetables, even when the grocery budget gets tight.

Tips for Increasing Your Income

In addition to cutting your budget, you can increase your income, even during tumultuous times. Here are some ideas.

1. Become a Virtual Assistant

Scores of companies need virtual assistants for handing everything from customer calls to emails. You might manage social media posts or help with bookkeeping tasks.

Sites such as Fiverr allow you to offer your services for sale to the highest bidders.

2. Sell Crafts on Etsy

Are you a crafty mama-to-be? If you have knitted more adorable baby booties than your child could wear by the time they turn 21, why not sell the excess on Etsy?

You can set the price for your wares, and once you establish yourself as a seller, you can do well. You can also search your home for any high-value items like electronics you don’t need or use, and see if you could possibly pawn them for a little extra cash.

3. Teach or Tutor Online

In case you missed it, many schools have shuttered for the rest of the year, and the demand for online teachers is high. If you have a certificate, you can work for a virtual school.

However, even if you lack a credential, you can tutor if you have a bachelor’s degree.

4. Start a YouTube Channel

Do you have a skill you can share? One grandmother recently gained significant stardom when she started a YouTube cooking channel to pass down her recipes.

If you can do yoga, knit like a fiend or make a tutorial on how to build a better birdhouse, you could earn residual income through advertising revenue.

Get Your Budget Under Control Before Baby Arrives

Once your baby arrives, you will have plenty to occupy your mind. In the meantime, get your budget in order so that you feel secure in your family’s finances.