Budgeting for your
baby

OK, budgeting isn't everyone's idea of fun but trust us, it's a great way to get perspective and take control. But it isn't as difficult as it sounds and is definitely worthwhile. And once you've created one, sticking to a budget is a sensible way of helping to manage your family finances.

Take stock of your present financial situation by thinking about what you spend your money on now.  Start a spending diary by writing down everything that you spend over a four week period.  It's a good idea to go through your bank statements so that you can make a note of all your direct debits and standing orders.  As well as including your mortgage/rent and household bills, don't forget to include all the little things such as magazines, lunch at work, chewing gum etc.  It's surprising how it all adds up!

Your spending patterns may change once you finish work and go on maternity leave, and you may find that you can save money simply because you're no longer going to work. You're likely to spend less on travel, coffee in the morning, lunches out, etc.

Of course, you'll have to consider buying equipment and other everyday items for your baby such as clothes, nappies, and so on, all of which adds up! If you have friends or relatives with children, you might be able to get the equipment and clothes they no longer need. Or you can consider buying second hand. There are some great bargains to be found online and at mums groups’ sales.

We often hear that you don't always need everything people tell you to buy. Take a look at our table to see which essential items we think you might need.