Find out what support you can get
Parental leave, child benefits and tax rules are set nationally and differ a lot between countries. Look them up early on your government's official website, note any deadlines, and ask your employer how leave and pay work in your job.
If you are self-employed, a single parent or in a less usual situation, check your options specifically – the rules for your case may differ from the standard ones. The country rules page is a starting point.
- Leave you and any partner can take, and how it is paid.
- Child or family benefits, and how to apply.
- Any tax changes when you have a child.
- Deadlines and documents needed for each.
Plan the gap, not just the shopping list
It is tempting to focus on what to buy. Just as important is the monthly gap: how much less comes in, and how much more goes out, for how long.
For example, if your household's essential costs rise from €2,000 to €2,300 a month and income drops by €500 for a while, the gap is €800 a month (€300 + €500). Over six months that is €4,800. Saving it over the eight months before the baby arrives means putting aside €600 a month.
Your own numbers will be different. Use real figures for the support you expect, and leave some margin. If you can't save the whole gap in time, any amount helps – and knowing the number lets you plan where to trim spending during those months.
Keep one-off costs in proportion
You may need fewer things than shopping lists suggest, and babies outgrow many of them quickly. Buy the essentials first and wait on the rest until you know what you actually use.
Second-hand items, hand-me-downs and borrowing from friends can lower costs. For anything related to safety, check that it meets current standards and is in good condition.
- Needed from day one: a safe place to sleep, a car seat if you drive, clothes, nappies, feeding basics.
- Can wait: most toys, larger equipment, anything for later months.
Protect your cushion and your family
Your essential costs will be higher with a child, so your emergency fund target should rise too. Recalculate it and treat the gap savings and the emergency fund as separate pots.
Think about what would happen if a parent could no longer earn. Check whether you need life or income protection cover, and whether you have a will and a named guardian. The rules depend on your country, and it is worth getting proper advice for your situation.
Once things settle, review your budget again. Your first plan won't be perfect, and that is fine.
Look ahead to the next stage
Some costs only arrive later, such as childcare when you return to work or change your hours. Ask about prices and waiting lists early, so the number is in your budget before the bill is.
If you are raising a child on your own, the same steps apply, but a cushion matters even more because there is one income to rely on. Make sure someone you trust knows where your key documents are.