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Having a baby on a low income

Having a baby on a low income

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When you are living on a budget, it can be difficult providing for yourself, never mind a baby. While we’d all like to wait until we are financially secure before we have children, that isn’t always the way it works out. Having a baby on a a low income maybe more difficult but there are lots of ways you can budget successfully.

If you’re pregnant and you are struggling on a low income, there are ways you can cut the cost and make motherhood more affordable. Below you’ll find some of the best ways to provide for you and your bundle of joy without spending a fortune.

Assessing your budget

The very first thing you need to do is work out your budget. How much do you have coming in and going out each month?

Seeing where you can make cutbacks in your monthly outgoings is a great idea. Eating in rather than eating out, shopping around for the best deals and even switching energy suppliers could save you a lot of money that can be spent on your new baby.

Having a good understanding of your finances will help you to discover whether you are entitled to any benefits. It will also help get you used to budgeting for when the baby arrives.

Being able to manage your money is an essential skill you are going to need. So start now! Write down your incoming and outgoings and whether there are any ways you can cut your spending.

Are you entitled to benefits?

Having a baby on a low incomeMost families find that they are entitled to at least one type of benefit when they have children. Did you know for example that prescriptions are completely free on the NHS for new mums for the first year and for pregnant women? You will need to fill out a Maternity Exemption form to apply that you can get from a midwife or doctor.

Child Benefit is the most common benefit you’ll likely be entitled to. You will need to get the form from the HM Revenue website. One thing to keep in mind is that if you or your partner earns over £50,000 per year, the Child Benefit will need to be paid back in the form of additional tax.

Ensuring you get the benefits you are entitled to can save a lot of money over the course of a year.

Saving on baby essentials

There are so many things that your baby is going to need.

Many new parents fall into the trap of buying designer clothes. It is a much better idea to buy clothing from high street stores or even supermarkets. They offer baby clothing basics at affordable prices. Your baby grows really quickly so you will end up buying clothes pretty frequently over the first few months. They don’t know or care whether the clothes they are wearing come with designer labels. You’ll simply be wasting your money if you invest in top of the range essentials.

It can cost more than £7,000 a year to raise a baby. Therefore it makes sense to look at all of the ways you can make this cost more affordable.



About Jemma Porter

About Jemma Porter

Jemma Porter is an experienced content creator who has written for a number of online publications. A self-confessed penny pincher; she's often found seeking out the best personal finance deals.

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