As time keeps merrily marching forward, it’s time for us to look at what we’re going to do with our finances to prepare for our second child’s arrival. I have written about what we’re buying for Frugal Baby #2 but haven’t really touched on our finances.


Of course, having one child has a bit impact on your finances. Adding a second one to the mix will have even more! Factor in the reduced income through maternity leave, and it can be a bit tight at times. I’m not pretending that we are going to have lots of extra money either. I am having to take maternity leave earlier than planned due to medical reasons, so will have to make our money stretch even further.


So, how do you financial prepare for your second child?


Firstly, we saved a lot of things from Baby #1. So, all of his clothes were washed and stored away, plus all of the extras. Things like his bottles (as I didn’t manage to feed him myself), toys, blankets and accessories that come along with a newborn. Having all of these items already means saving money on buying new. I do need to sort through the clothes, just to check all are okay to still use, but they should be. Planning ahead from the first time has helped us.


If you need to buy anything extra, then keep an eye on prices and sales. Baby items go into sale quite regularly, so it’s just a case of watching and waiting. There are certain brands that seem to do bigger sales than others, though the prices of items are often higher to begin with. Mamas and Papas do good sales, especially on travel systems, but their items are in the higher bracket anyway.


Remember, less is more. It is so tempting when you’re having a baby to buy all of the things. Everything is so cute, so small and you’re told that you need everything. Actually, you really don’t! Newborns don’t need much when they first arrive; warm clothing and an (almost) constant milk supply. Add in something to sleep in, plus lots of nappies for millions of nappy changes and you’re done. The two extra things we’ve bought so far is Ewan the dream sheep and a new nursing pillow.

How To Financially Prepare For Your Second Child - The Frugal Cottage


Build up your stockpile beforehand. Start to buy extra items at your food shop each week, preferably things that can be stored for a while. Tinned goods, frozen items and snacks that you can store easily. Building this up whilst you still have an income will benefit you once you’re on a reduced income. I am aiming to do some batch cooking before Frugal Baby #2 arrives so that we have some “ready” meals in the freezer, just to defrost and reheat when needed. If you haven’t started a stockpile, then I recommend you do so!


Try and get into the habit of having No Spend Days, or even a No Spend Month. By having more days in the month where you don’t spend anything, your budget will be better. I am a big fan of No Spend Days as a way of reducing spending. A No Spend Month is even better, though depending on how long you’ve got left, this might be tricky. However, adding in a couple of NSDs a week will have a massive impact over the months. This does take a bit more organisation but it will pay off dividends if you get in the habit of it. I include NSDs in my monthly aims every month 🙂


What else would you do to financially prepare for a second child? I’d love to hear from you! 


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