Preparing to become a dad comes with plenty to think about.
Some of it is important. Some of it is exciting. And some of it involves standing in a baby shop wondering how someone who weighs less than a decent-sized house cat apparently needs several thousand pounds’ worth of equipment.
Having a baby undeniably changes your household finances, but preparing for one does not mean you need to buy everything advertised to you.
A bit of planning before the baby arrives can make those first few months far less financially stressful.
Work out what you actually need
Before you start buying anything, separate your shopping list into three categories:
Things you need immediately, things you will need later and things that would simply be nice to have.
A newborn does not need a highchair, mountains of toys and clothes for every size up to two years old on the day they come home.
Concentrate on the first stage.
You can buy things for later once you know what works for your family, what you have been given as gifts and what you can borrow from other people.
This also spreads costs over a much longer period.
Don’t get caught up in ‘dad gadgets’
There is an entire market of products designed to convince dads that ordinary baby equipment needs to be upgraded into some kind of military-grade technical system.
You will find changing bags that look like expedition backpacks, app-connected devices for almost everything and gadgets promising to solve problems you did not know existed.
Some are genuinely useful.
Others will be exciting for approximately three days before living permanently in a drawer.
Ask whether something will genuinely make your life easier before buying it.
Buy second-hand where it makes sense
Babies grow out of things quickly, which makes the second-hand baby market enormous.
Clothing is one of the easiest places to save.
A newborn does not care whether their sleepsuit came straight from a shop or was worn twice by another baby first.
Bundles of baby clothes can cost a fraction of buying every item new.
There may also be toys, nursery furniture and other equipment worth considering second-hand, although you should always check current safety recommendations before buying products where safety is particularly important.
Avoid buying huge quantities in advance
Buying in bulk usually sounds financially sensible, but it can backfire with baby products.
Babies grow. Preferences change. Feeding plans change. Products that seemed essential suddenly become unnecessary.
Rather than filling cupboards with months’ worth of one product before the baby has even arrived, start with a sensible amount and see what you actually use.
This can be particularly important with feeding supplies.
If you do end up with eligible unopened products you no longer need, check whether there is a legitimate way to return, pass on or resell them rather than automatically binning them.
US families with unopened and unexpired baby formula, for example, can check services such as SellFormula.com to see whether their products qualify for resale.
It might seem like a relatively small thing, but reducing waste across all the baby products you buy can make a noticeable difference over time.
Put aside a monthly baby budget
One of the simplest things you can do before the baby arrives is practise having the additional expense.
Estimate what you expect to spend each month and start moving that money into savings before the birth.
Even if your estimate is not perfect, you will build up an emergency fund while getting used to having less disposable income.
Once the baby arrives, you can adjust the figure based on your real spending.
Think beyond the newborn stage
It is easy to spend all your time financially planning for the birth itself.
But babies have an annoying habit of continuing to grow.
Think about costs that may appear six or twelve months later too.
That could include childcare, reduced working hours, larger clothing sizes, weaning equipment, nursery changes and eventually family activities.
You do not need to have the money for every future expense immediately, but knowing what is coming makes budgeting far easier.
Speak openly about money
If you are raising the baby with a partner, talk about finances before sleep deprivation enters the equation.
Work out who is paying for what, how parental leave will affect income and whether you want to combine more of your finances.
Discuss your priorities too.
One person may think an expensive pram is absolutely worth it while the other would rather buy something cheaper and keep the difference in savings.
Neither approach is automatically wrong.
Having the conversation before making major purchases prevents resentment later.
Take advantage of things people offer you
Friends and relatives who already have children may suddenly start offering you boxes of things.
Take a look before refusing.
Baby clothes, books, toys and equipment are frequently passed between families because they are used for such short periods.
You do not need to accept absolutely everything, unless you fancy replacing your own home with a warehouse, but useful hand-me-downs can save a substantial amount.
Remember what your baby actually needs
There is enormous pressure around preparing perfectly for a baby.
The perfect nursery.
The perfect pram.
The perfect wardrobe.
The latest equipment.
Most of it matters considerably less than it feels like it does when you are preparing for your first child.
Buy good-quality products where quality matters. Spend money on things that genuinely improve your family’s life. Save money where the expensive version adds very little.
And accept that you will inevitably buy at least one thing that turns out to be completely useless.
That seems to be part of becoming a parent too.
Preparing financially is less about becoming incredibly frugal and more about making deliberate decisions.
If you can avoid unnecessary purchases, reuse what you already have, sell or pass on products you no longer need and keep some money aside for the unexpected, you will already be in a much stronger position when the baby arrives.
