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-   -   Freaking out about not being financially ready for baby (http://www.justmommies.com/forums/f1192-getting-ready-for-baby/2584853-freaking-out-about-not-being-financially-ready-for-baby.html)

austinmay13 October 15th, 2012 12:07 PM

Freaking out about not being financially ready for baby
 
Hi! I am 21 years old and my husband and I got married a little over a year ago and found out we will be expecting a baby in April! This was unexpected, but we both are so excited about having a baby! On the other hand we both are feeling stressed about our money situation. We get by each month, but basically we live paycheck to paycheck and sometimes we have enough left over to save, but not always. So I guess my question is what have other couples done in this situation to help feel ready for the baby. I just keep freaking myself when I think about once the baby is here and we might have a bad month where we have to spend a lot of money and we will barely have enough money left over to buy the things our baby needs. Thank you so much for taking the time to read this!

vie31 October 16th, 2012 02:18 AM

Re: Freaking out about not being financially ready for baby
 
A lot of couple says that they are not ready, but there's no point in waiting to be ready as you never will be. Just have the baby and work out how to cope. Good luck.

rhiane2013 November 8th, 2012 07:31 AM

Re: Freaking out about not being financially ready for baby
 
i agree with vie31. what's more important is for u to be emotionally matured then financially matured. I belive you'll survive. Just have faith

OatmealKisses November 17th, 2012 11:20 AM

Re: Freaking out about not being financially ready for baby
 
You can indirectly get ready for baby buy saving money on your groceries with coupons. Check out extreme couponing. Use the money you would have spend on your groceries toward your baby and savings account.

Buy used whenever possible. Remember that babies don't need as many things as commercial retailers would have you believe. They need clothing, food, a roof over their head, somewhere to sleep, attention, and love.

ameeker December 7th, 2012 07:45 AM

Re: Freaking out about not being financially ready for baby
 
I just consolidated my debt. This will help lower interest rates and pay off my debt in a simple payment per month. Let me know if you're interested and I'll PM you the website.

OatmealKisses December 7th, 2012 12:39 PM

Re: Freaking out about not being financially ready for baby
 
Quote:

Originally Posted by ameeker (Post 26848906)
i just consolidated my debt. This will help lower interest rates and pay off my debt in a simple payment per month. Let me know if you're interested and i'll pm you the website.

scam!

Kinethra December 12th, 2012 06:33 PM

Re: Freaking out about not being financially ready for baby
 
This might be two months late, but, my friend made $9 an hour and was able to somehow work it out so that she was the sole provider for her baby and husband. She had some masterful budgeting skills or something, but she could just get it to work! Things have a way of working out.

OatmealKisses December 12th, 2012 06:59 PM

Re: Freaking out about not being financially ready for baby
 
Quote:

Originally Posted by Kinethra (Post 26867595)
This might be two months late, but, my friend made $9 an hour and was able to somehow work it out so that she was the sole provider for her baby and husband. She had some masterful budgeting skills or something, but she could just get it to work! Things have a way of working out.

She must have had state aid and/or crazy overtime. A family of 3 just can't make it on $9 an hour with no overtime and assistance. The healthcare alone would bust the budget.

Kinethra December 13th, 2012 05:52 AM

Re: Freaking out about not being financially ready for baby
 
She absolutely refused state aid of any kind. She worked at Kroger and unfortunately there is no such thing as overtime in grocery stores. Unless you want to get written up. She just was amazing at budgeting and was able to find housing for a decent price. She bought food in bulk and had zero debt. Paid everything with cash only. Refused to have a bank account. In total she had about $1100 a month. They lived minimally but had everything they needed. (Of course, had nothing they didn't need. Like internet, cable or expensive gadgets.) Really, it was pretty inspiring. And with that, you can see that living in any way is possible if you adjust your mindset of what "comfortable living" is.

Mila-Maya December 15th, 2012 04:11 AM

Re: Freaking out about not being financially ready for baby
 
I think you'll survive.
The things you could do upfront is check if you're paying to much on insurances you don't need, or if there are cheaper options. Think of health care, car insurance, sport club memberships, provider of energy supply at home, cell phone provider, telephone provider, internet provider etc.

You will not believe how much you can save by going through all of those things!

I just changed my health care insurance (was $140, will be $100) and I'm going to save up to $40 a month! The things that are insured are the same, the provider is a different one.
I changed my car insurance, saving up to $20 a month ($59 to $39,50)
Sport club, just signed out, saving up to $15 a month ($15 to $0) didn't use it anyway
Cell phone bill ($55 to $48) saving $7 a month, due to another provider
Phone/Internet/Tv bill ($67 to $42) saving $25 a month.

So every month I will be saving $107, by making some minor changes.
That's a nice amount to spend on our baby, ourselves or don't spend it and save it for later.

writerchick324 December 16th, 2012 08:57 AM

Re: Freaking out about not being financially ready for baby
 
We were in the same spot. Once we had a baby shower and handmedowns, there really wasn't anything we had to buy out of pocket. We got on WIC which helped with formula when I was not able to breastfeed, as well as some groceries. We haven't needed to buy anything for Elliott other than diapers, but most of those we had bought here and there while I was prego (buy a pack every grocery shopping trip). I wouldn't get anything new, they go through items soooo fast. You'd be surprised. But having a baby, all we really buy for elliott is diapers. We get formula from the state. We live on just my bf's $12/hr job. So you'd be surprised, there isn't that much that you really need to buy!

Jill_GummyBear December 20th, 2012 02:28 PM

Re: Freaking out about not being financially ready for baby
 
I know what you mean

AndieP December 24th, 2012 04:25 AM

Re: Freaking out about not being financially ready for baby
 
If you think about money and the cost of having a baby, you'll never have one!

Some good points in this thread already. Check out some price comparison websites to see if you can save on your utility bills.

I don't know how you are with food shopping, but keep a real look out for bargains

1) Check the upper and lower shelves as supermarkets try to put the more expensive items at eye level
2) Bulk buy when you see a great deal, but only when it is an essential item that will last a long time.

For baby items for the home, you can get some things second hand so don't be afraid to ask friends and family if they have anything spare.

dylans_mommy December 24th, 2012 04:34 AM

Re: Freaking out about not being financially ready for baby
 
Congratulations on your pregnancy :) I'm also due in April and I feel like it's coming too quickly! I'm not sure where you live, but in my county, we have pregnancy services that has 1 hour sessions with the parents and you get a point for each visit. Then we can use those points towards new crib, car seat, toys, etc and on baby's birthday, we get a basket full of clothes, bottles, and we can visit every three months to get diapers. I'd suggest seeing if your county has something similar.

I've had to learn to let people help; his mom begged me for a big ticket item she can buy us and due to pregnancy services, we had no *needs*. Are you on WIC? It's a great help and helps with formula if you're not choosing to BF. Babies do seem like they need a lot, but I feel like I've joined a mom's only club after announcing we're pregnant... Friends everywhere who have kids are more than willing to get rid of things their baby has grown out of.

Don't stress too much :)

HolaBebe February 12th, 2013 03:21 PM

Re: Freaking out about not being financially ready for baby
 
Along with what other posters have discussed regarding budgeting, I would also recommend breastfeeding. Along with the health benefits to both you and baby it provides (which can decrease healthcare costs), you will save a BOATLOAD of money on formula and bottles.

Also, as the previous poster mentioned, I would look into signing up for WIC. It is a supplemental food program that provides food benefits for pregnant and postpartum women as well as children up to the age of 5. If you decide not to, or are unable, to breastfeed they can also provide formula to the baby.

Remember that you are not alone and you will always find a way to provide for your child.

Good luck!

BriLandy February 18th, 2013 03:07 PM

Re: Freaking out about not being financially ready for baby
 
I understand your fear and I think things will work themselves out as you go. I'm in a similar if not worse situation but I keep reminding myself that I have support, even if it's not from the people or resources that I want, and that I need to have faith in myself.

torilexington May 8th, 2013 09:55 AM

Re: Freaking out about not being financially ready for baby
 
Everyone has fears and nobody is ready to take on something that they aren't use to. Once your baby comes you gain a new outlook on life and you find every possible way to make ends meet. Trust me it will work out! :)

AshleyFurson July 5th, 2013 10:13 AM

Re: Freaking out about not being financially ready for baby
 
I know what do you mean, it could be dangerous to think negative, we should be strong while facing bigg events like this one

childtocherish January 30th, 2014 12:34 AM

Re: Freaking out about not being financially ready for baby
 
You and your husband have to decide what you have to do .As already suggested small babies donot need much .Today or tomorrow you will be having baby so start saving from now and let the little one come to this world.

Becca M. April 15th, 2014 08:59 AM

Re: Freaking out about not being financially ready for baby
 
The same thing happened to us, 9 years later I can tell you that it will work out! Buy second hand, ask your family and friends if they can donate anything for baby's room, and start a budget- track everything that comes in and goes out.


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