That Girl On Fire
  • Instagram
  • Facebook
  • Pinterest
  • Linkedin
  • Mail
  • Home
  • About
  • Blog
  • Contact
  • Search
  • Menu
Money Tips

Budgeting For A Baby (And FI, Too)

Preparing for a baby on a budget

I cannot tell you the amount of times I have heard that financial independence is simply not possible when budgeting for a baby. That as soon as you procreate, all notions of economic autonomy go out the window, along with your sleep, sanity and sex life.

“Must be nice, but wait until they have kids.”
“Whatever. Saving is easy when you have no dependents.”
“You can’t be good with money with mouths to feed.”

Is it true that having children burden us so much that we lose all sense of fiscal responsibility? Are kids so expensive that our only destiny is to forever bounce from one pay check to another, always sacrificing in order to make ends meet? 

Maybe for some in certain circumstances, but in reality, it’s likely those circumstances existed before the baby. The baby just stretches an already lean budget, making what is a difficult situation even tighter.

But for those who aren’t in financial straits, why is our view of the financial burden of children so bleak and one-dimensional?

Since finding out we were having a baby earlier this year, we’ve been determined (if not a bit excited) to see how our FIRE numbers will change. 

Currently, we routinely save and invest up to 80% of our incomes.

The process looks like this: money comes in, we save first, pay expenses and bills second and then live on the rest.

Whether or not we’re going to be able to do this with the same ferocity alongside budgeting for a baby remains to be seen. One thing we can control now, however, is how much we spend in anticipation of our new addition.

From the beginning of my pregnancy, I’ve come to see first-hand how the marketing of stuff ramps up in the targeting of soon-to-be parents for what they need (not want – need) in order to have healthy, happy spawn. 

Here’s how we’ve combatted that in order to make sure we’re still achieving that, without blowing our budget through the roof, and compromising on our FIRE goals.

Living on one income early, saving the rest.

I’ve written about this in the media a fair bit because I think it’s very prudent if you can give it a go.

We learnt to live on one income early on, saving the rest in a separate baby fund that was dedicated to buying both baby stuff we needed, and also giving me an extra buffer for disposable funds should I decide to take a little bit longer off than first anticipated. 

We had a goal of having $15,000 in there by November – some of it we’ve spent on the bigger-ticket items we needed, like a car seat, modern cloth nappy stash and a doula, but the rest is for us to play with as we want. 

It will also serve to ease the burden of the one-income sticker-shock during my maternity leave, and give us an extra buffer if I decide I want to take a bit longer away from the business (when my government maternity payments end).

Creating a baby budget.

We created a baby budget for living on one income, which included me going through our expenses to minimise or pause what we wouldn’t need.

Some of my business subscriptions could stop, some things that were entertainment-related went in the bin (bye bye Hayu, I have a feeling I’m not going to have time for your mind-numbing goodness anymore), and I shopped around on some of our insurances and dues to lower the cost. 

I largely kept the ‘social’ category in tact to account for a new type of socialising. Think less boozy Sunday afternoons, more mummy midweek brunches. 

On the subject of being organised, we also made a baby list on Wunderlist (one of my favourite free list resources) and were ruthless on what we wanted and needed – no twenty million blankets or endless amounts of clothes, five types of barrier cream and all those electric baby accessories that line the shelves of baby shops with enormous price tags. 

We were strict on selecting only things we had been told multiple times (by different parents) that we’d need, or those aligned with our parenting preferences. Everything else, we decided we would get once he arrived and the need was proven, including a pram.

Yep, no pram. We’re baby-wearers, yo.

Getting everything secondhand and freecycled.

This has been such a huge part of our money-saving baby journey. We have literally saved thousands by getting things for free or secondhand on Facebook marketplace and pay-it-forward groups. 

I cannot stress this enough – people are so generous once they know you’re expecting. As in, I’d go and pick something up and I’d be presented with an array of other things offered up as well.

So far, I’ve picked up a baby bath, a baby bouncer, a tummy time mat, a change table, nursery rhyme books – all free, from people in my neighbourhood. Someone even gave me the whole Peter Rabbit book series – those things go for a bomb.

For everything else, I’ve saved up to 90% on the retail price by buying secondhand. Think an Ergobaby carrier, a double electric breast pump, a MotherCare bassinet, virtually all unused. And when we had our baby shower, we asked for only some key, practical things if folk felt generous enough to bring something along. They weren’t the fluffy, idealised baby things but they were just honestly what we needed.

Buying in bulk, upfront.

If it’s something you need and know you’ll use, buying in bulk can be a major cost-saver. 

We invested a few hundred on a stash of modern cloth nappies and wipes at a baby fair, which we hope will last our little bambino until he’s ready to brave the porcelain throne solo. FYI – this is a really good read if you’re interested in the cost breakdown and environmental impact of cloth vs disposable. 

I am making my own baby products from products I already own – like coconut oil, essential oils, cocoa butter and castile soap, in containers I already have, to save on the cost (and chemicals) of mainstream baby cults… I mean, brands.

Putting your money where your heart is.

As with everything on this FIRE journey, allocating your cash flow to things that you prioritise is key. 

What matters to you on your parenting journey? What kind of pregnancy or birthing experience do you want? What kind of parent do you want to be? 

We are, and always have been, an experience over things kind of unit. After a miserable and very sick pregnancy, we decided that we wanted to pursue an intervention-free water birth with full gusto. We wanted to be present – and even enjoy – every moment of bringing our son into the world, together, sans medication or surgery, and completely united.

In order to best architect the best birth experience possible, we brought on an amazing birth doula and have spent many hours researching the birthing process together, even taking a CalmBirth weekend course.

We’ve practiced breathing, acupressure, tried to understand the mechanics of pain and how it can be overcome and will go into our birth, whatever may happen, with that knowledge.

On the other hand, one of the things that didn’t rate highly on our list was showy, expensive activities. I don’t like the idea of enrolling in flashy classes or groups just to feel a sense of social achievement that I’m in a club, and I resent predatory marketing that makes parents feel like they are doing their children a disservice by not involving them.

This is obviously all a personal preference but instead, I created a series of free, low-cost or just really fun sounding activities for me and bambino ahead of time. Ones that take advantage of our community services, or align with our lifestyle.

This is the kind of exercise that helps you funnel your money into things that matter to you, and when budgeting for a baby, is going to make all the difference.

October 25, 2019/4 Comments/by Michelle
Share this entry
  • Share on Facebook
  • Share on Twitter
  • Share on Pinterest
  • Share on Linkedin
  • Share on Tumblr
  • Share on Reddit
  • Share by Mail
https://thatgirlonfire.com/wp-content/uploads/2019/10/Confetti.jpeg 1500 2253 Michelle https://thatgirlonfire.com/wp-content/uploads/2019/02/That-Girl-On-Fire-Web-Logo-Header.png Michelle2019-10-25 12:36:502019-11-04 11:04:30Budgeting For A Baby (And FI, Too)
4 replies
  1. CaptainFI
    CaptainFI says:
    August 27, 2020 at 10:01 am

    Hey there! Love the post. Great to tell people about the second hand market, having been through buying stuff for my sisters kids, I have been able to suss out great bargains on Gumtree and FBMP, new stuff in stores can be ridiculously expensive! Also LOL at the “just wait till they have kids” part, People say that to me ALL THE TIME because I don’t have kids, but talk about finance and wanting to start a family. Time will tell I guess!

    Reply
    • Michelle
      Michelle says:
      August 31, 2020 at 10:41 am

      I now have a child and can honestly say that none of our principles on money have changed. The additional family headcount has meant we’ve needed to readjust our retirement numbers a bit but absolutely not to the extent that it makes FIRE unachievable within the next decade. Whatever you decide will be the right thing for your financial goals because at the core of it, you’ve got the right foundations in place, and that doesn’t change with kids.

      Reply
  2. Jess
    Jess says:
    September 27, 2020 at 3:48 am

    Love this blog. We are firing and have 1 baby, #2 on the way. It’s not a choice if children or fire, yes having a baby has made it slower but the joy is worth it and we are looking forward to fire with new zeal as we can spend more time with our children. 2 Nd hand and buy nothing are fantastic. Our biggest expense is going private but completely worth it as that’s the birth experience I want and have saved hard to afford

    Reply
    • Michelle
      Michelle says:
      September 27, 2020 at 12:26 pm

      Beautifully put, Jess! While the joy is priceless, the children themselves aren’t, but still not to the extent that it’s a ‘one or the other’ decision. Congrats on baby number two and hope everything goes well!

      Reply

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recent Posts

  • Bonds Vs Direct Investments For Kids
  • The Six Steps To Ensuring Your Financial Independence (And Early Retirement!)
  • Managing Business Financials As A Minimalist
  • Budgeting For A Baby (And FI, Too)
  • Paper Trading: How To Get Started With ‘Fakevesting’

Search posts

A bit of history

  • February 2021
  • August 2020
  • January 2020
  • October 2019
  • August 2019
  • July 2019
  • June 2019
  • March 2019
  • February 2019

Blog categories

  • Financial Independence
  • Intentional Spending
  • Investing
  • Minimalism
  • Money Tips

Mo money, less problems. Follow our journey to FIRE on Instagram.

🖥 Up now on the blog - bonds vs direct investin 🖥 Up now on the blog - bonds vs direct investing for kiddos. Are bonds really all they’ve been earnestly sold to be? Tell me about your experiences investing in bonds - or if you decided not to, why not? 👂🏼Link in bio ➰
Say it once more for the cheap seats in the back 🙌🏽 Money isn’t the be-all-end-all for FIRE. You’ve got to find the happiness en route otherwise it’s all just paper, really.
Coming back from mat leave (or any kind of hiatus) Coming back from mat leave (or any kind of hiatus) is a bit like learning how to walk again. My relationship with money changed MASSIVELY while away from the day-to-day handling of it. It was almost like I forgot how to do it for a while, I was so disengaged when I wasn’t making an income. Back on the horse and hi, it’s good to be back.
“The habit of saving is itself an education; it “The habit of saving is itself an education; it fosters every virtue, teaches self-denial, cultivates the sense of order, trains to forethought, and so broadens the mind.” 🐉 If you want your money to grow - you must first grow yourself 🌱
Alfie blue steelin’ for @korangoaustralia (📸C Alfie blue steelin’ for @korangoaustralia (📸Camille Nuttall Photography / Sheridan Davey Stylist) ✨@unicorn_kids_modelling
The face you make when your portfolio averages a 6 The face you make when your portfolio averages a 6% increase in one of the worst economic points of recent history. Diversity is damn sexy, friends.

Disclosure and Terms of Use

Privacy Policy

Copyright © 2019 That Girl On Fire

Paper Trading: How To Get Started With ‘Fakevesting’ Paper trading can be simple once you know how to start My tax and business expenses as a minimalist Managing Business Financials As A Minimalist
Scroll to top

This site uses cookies. By continuing to browse the site, you are agreeing to our use of cookies.

OKLearn more

Cookie and Privacy Settings

How we use cookies

We may request cookies to be set on your device. We use cookies to let us know when you visit our websites, how you interact with us, to enrich your user experience, and to customize your relationship with our website.

Click on the different category headings to find out more. You can also change some of your preferences. Note that blocking some types of cookies may impact your experience on our websites and the services we are able to offer.

Essential Website Cookies

These cookies are strictly necessary to provide you with services available through our website and to use some of its features.

Because these cookies are strictly necessary to deliver the website, you cannot refuse them without impacting how our site functions. You can block or delete them by changing your browser settings and force blocking all cookies on this website.

Google Analytics Cookies

These cookies collect information that is used either in aggregate form to help us understand how our website is being used or how effective our marketing campaigns are, or to help us customize our website and application for you in order to enhance your experience.

If you do not want that we track your visist to our site you can disable tracking in your browser here:

Other external services

We also use different external services like Google Webfonts, Google Maps and external Video providers. Since these providers may collect personal data like your IP address we allow you to block them here. Please be aware that this might heavily reduce the functionality and appearance of our site. Changes will take effect once you reload the page.

Google Webfont Settings:

Google Map Settings:

Vimeo and Youtube video embeds:

Privacy Policy

You can read about our cookies and privacy settings in detail on our Privacy Policy Page.

Disclosure and Terms of Use and Privacy Policy