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  1. #1
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    Default 1st time expecting... Worried about finances. What things should I be doing?

    We're expecting our first child (12 weeks) and want to make sure our finances are in order. We have some cash saved in our mortgage offset (to cover medical expenses & any emergencies).
    What other smart things should we be doing to get our finances in order...? Any smart tips out there for 1st time parents...?

    (I'm also new to BH so looking forward to joining in the fun!)

  2. #2
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    Welcome to BH and congratulations on your pregnancy - it is so exciting expecting your first child :-)

    I don't really have much advice but a couple of thoughts that came to mind were;

    - paying a little extra now on your telephone, electricity, water, gas will reduce the bills when bubs is born and may even put you in credit for a while.

    - maybe buy nappies/wipes etc before bubs is born and when on special so that you have some stored up (this will also help so that you do not have to run to the shops alot when you may prefer to be at home)

  3. The Following User Says Thank You to MsTruth For This Useful Post:

    luck  (16-04-2012)

  4. #3
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    Congratulations! I agree with the above post - if you can get in credit for most utilities, it will be a real help once bub arrives.

    My biggest mistake was not budgeting correctly as I had worked on receiving paid parental leave from a certain date - my DS was ten days late then it took about 2 months to actual receive my first payment - it stretched us pretty thin so if you can have extra on hand (or be in credit) so you don't have to scratch around for money it will allow you to enjoy those first few months much better.

    Wishing you all the best :-)

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    luck  (16-04-2012)

  6. #4
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    Congrats
    We are having our second and Iv put a budget in place so every month I pay amounts off bills. Do when they come in its already paid and we don't get big bills.

    Also don't rely on family a or b. I was never got any till the new financial yr as I earned to much.

    And process ur ppl or baby bonus early ( think 3 months) so its all there ready and u just need to take birth cert in

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    luck  (16-04-2012)

  8. #5
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    I know this sounds really small in the scheme of things but stock up on those things that can cost a lot during your weekly/fortnightly groceries when you see them on sale now.

    Wipes & nappies (if you are using disposable) is a good one, but also things like toilet roll, sprays & deodorants, washing powder etc.

    Sounds crazy I know but it did help (for me anyway!).

    Getting your paid parental or baby bonus paperwork done now is good advice.. one less thing to worry about post birth, apart form birth certificate, and hopefully minimise wait time (although no gaurantees!)

    And in the lead up, i think about 2 months before, I tried to live off what we would be on once on mat leave to see if I needed to adjust anything to make our budget more realistic. I'm a spread sheet nazi so I had everything on a spreadsheet!

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    luck  (16-04-2012)

  10. #6
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    Subscribing

  11. #7
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    Quote Originally Posted by Ahpez View Post
    Subscribing
    Hi there, It might be my naivety but ' subscribing' to what? Thanks!

  12. #8
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    With the time I learnt so much to save money as a sahm, you def get to learn your tricks. We always pay extra on bills as well. Kids basically wear mostly second hand, starting to shop at aldi and just get the weekly specials that we stock up on at woolies changed really our life in terms of our grocery bill. I can only give boring mum tips as my husband does the finances lol

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    luck  (16-04-2012)

  14. #9
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    Something quite trivial but will be a godsend time and moneywise. Cook and freeze lots of meals now while your awaiting bubs arrival. It will be a life saver when your strapped for time with your newborn and less likely to spend money on takeaway!!

  15. The Following 2 Users Say Thank You to diesal444 For This Useful Post:

    Bubbles10  (17-04-2012),luck  (16-04-2012)

  16. #10
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    Something quite trivial but will be a godsend time and moneywise. Cook and freeze lots of meals now while your awaiting bubs arrival. It will be a life saver when your strapped for time with your newborn and less likely to spend money on takeaway!!


 

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