How to Avoid new Baby Debt

Today – How to Avoid new Baby Debt

This is a guest post from James Barnett

It’s hard to compose a piece on new baby debt, whilst bypassing the incredible euphoria and momentous occasion of welcoming a new child into the family, however new babies are quite simply expensive! Nappies, clothes and milk are but to name a few of the basic necessities that will continue to drain your income each month alongside investments in the pram, clothes, utilities and additional room required to feature the new born child.

The challenge does not just rely on the baby finance itself but the balance of employment issues and the monetary impact on life’s other requirements Below I have provided some research tips on how to avoid new baby debt within contemporary financial management.



How to avoid new baby debt – top tips

Budgeting – A baby budget should analyse all expenses occurred plus a 10% additional cost as a safety net for unforeseen outgoings. Should there be an immediate requirement to finance your child’s needs there will be funds available as oppose to seeking a short term financial lending solutions that are likely to be a more costly and challenging process.

Lifestyle – Using the home financial forecast, ensure you carry out a meticulous review of existing expenditure that will then enable you to plan for the baby’s costs and plan the necessary changes prior to the birth. When spending disposable income on niche products, see if there are more sustainable options that would integrate with your children.

Maternity Leave – Carefully study the maternity leave available within current employment law to ensure that you retain the full financial income for the allocated time of the pregnancy and birth. Manage your employment successfully before you depart to ensure that upon returning you can continue to climb the ladder career without over challenging yourself. A debt free business is also crucial to your happiness upon return.

Unnecessary Expenses – Buying expensive clothes for your baby is a luxury that is unsustainable as babies grow very quickly and not will appreciate the same fashion trends you do. Once your baby progresses to eat solid foods, explore ways to grow fresh fruit and vegetables as oppose to retaining dependence on the purchase of supermarket products.

Childcare – Research the most effective childcare opportunities and ask for help from friends and relatives when things are tough. A babysitter may also be a cost effective option for when you need time to complete life’s errands and necessities.

Finance – In times of short income with your child, try to avoid relying on credit cards as this will incur high interest when there are other routes to explore for credit. Manage your income prior to the baby’s arrival by exploring all the financial opportunities available and without inter dependency on future child tax credits and schemes offered as government incentives.


I hope you found this post obn how to avoid new baby debt useful. You can find more of my budgeting articles here and my click through here for my best baby budgeting tips




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