It costs an average of $10,808 to have a baby in America, according to statistics from Business Insider. However, this figure can rocket to $30,000 once prenatal and postnatal care is taken into consideration. With such high costs to pay out for, it’s essential that you utilize the nine months of your pregnancy and plan your finances meticulously. Not only will this give you the best start as a new mom, but it will benefit your family in the long run, too.
Save a little extra each month
America is one of just a handful of countries where paid maternity leave isn’t a legal requirement. As a result, millions of moms-to-be face the prospect of 12 weeks of unpaid leave following the birth of their child. Therefore, as soon as you find out that you’re pregnant, it’s advisable to review your current outgoings and make a plan to put a little extra aside each week to help you while you’re on leave with your newborn. A healthy diet is a must during pregnancy, so consider ditching your weekly takeout and stashing the cash in a savings account. Similarly, review your non-essential expenses, such as TV subscription services, magazine subscriptions, and gym memberships and consider cutting these too.
Source second-hand items
The U.S government estimates that parents will spend $233,610 raising their child to the age of 18. But this cost can be reduced by finding ways to cut your expenses while you’re pregnant. Maternity clothes, pushchairs, baby clothing, toys, and nursery furniture can all be picked up relatively cheaply second-hand. Therefore, rather than shelling out $350 for a brand new crib which your tot will use for no longer than two years, search for a good quality used one on online auction sites, marketplaces or at your local flea market.
Reconsider your medications
The Financial Times reports that the average U.S citizen spends $1,112 every year on prescription drugs. Meanwhile, it’s predicted that prescription medication spending will increase by 3% by 2021. But not all prescription and over-the-counter drugs are safe to consume when you’re expecting a baby. Some antibiotics, anti-inflammatories, anti-allergy medications, and antidepressants should be avoided as they could potentially harm your unborn child. So, save yourself some cash and protect your unborn baby by ditching as many of these medications as possible. Although, it’s important to note that you should check with your doctor first before ceasing use of them.
Keep an eye out for coupons
You’ll find various discount coupons for baby items in magazines and online. By signing up to expectant mom groups, you’ll be sent them in the post too. Start saving these as early as you can in your pregnancy so that when the time comes to stock up on diapers, wipes and more, you get a decent discount at the till.
Giving birth in America is a costly experience. But by using your pregnancy wisely you can be prepared for this cost, as well as the other expenses that come with having a baby.