Where to save and what you can afford? 8 points to consider once you know you’re pregnant.

Budgeting before you give birth

1. Adjust your family budget, especially if you plan to stop work, and begin saving ahead of Delivery Day to make up for the shortfall.

2. Start living within your means — instead of splurging on a big holiday, consider nearby destinations that won’t put a dent in your finances.

3. Wise up to ways to ease your financial strain. Get practical pointers from Becky Goddard-Hill’s How to Afford Time Off with Your Baby on how to make the right financial decisions during your pregnancy and throughout your maternity leave — whether it is four months, or four years. $24.25 (before GST), from major bookstores.

4. Switch your home mortgage to one with a lower interest rate. Talk to your current bank about improving your deal, or shop around for better offers.

5. Use “surplus” funds (leftover income after paying for general living expenses) to pay off debts that charge higher interest rates first, before putting the money in savings accounts.

6. Also related to the point above: Pay bills on time to avoid additional late charges.

7. Buy a piggy bank to remind you to save. Or save on that and just find a big jar and stick on a paper label. The see-through jar lets you know your savings are accumulating…

8. Repeat the “Reduce, Reuse, Recycle” eco-mantra — it also applies to cost-saving.

Photos: INGimages

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