How to (financially) plan for having a baby

Congratulations – you’re expecting! Before the inevitable sleep deprivation kicks in, invest in your whānau’s future with a little financial planning.

Babies are gorgeous, but our little bundles of joy definitely come with a price tag. In fact, it tends to be a time when you feel like everything’s growing, except your bank balance.

More food, clothing and equipment, over a period when incomes often dip. Never fear, whether this bump is your first, or fourth, consider these ideas to help to maintain your financial wellbeing, as you raise your precious pēpi.

No two baby budgets look the same

Budgets, like babies, are unique. How you structure one really comes down to your personal situation. Maybe you’re sole parenting, or maybe you have a combined income. You might also need to factor in costs such as fertility treatment, adoption fees, or other medical support. Never underestimate the power of talking your situation over with someone who’s had a similar journey to yours. And if you can’t learn from family or friends who’ve been there, done that, this could be a good time to enlist the knowledge of a financial planner. 

Get your hands on hand-me-downs

Babies sprout overnight. Meaning that super cute outfit, or pricey piece of kit, is soon outgrown, but still in great condition. So, here’s the single best budgeting tip we can give you – borrow things. As well as saving you loads, you also get to give it back, which frees up storage. Buying bigger-ticket items likes cots, prams and car seats second-hand, or even hiring them, could also be another great way to trim your expenses. Just be sure to check that all the safety features are up to standard.

Start sale shopping

Before bub or bubs arrive, make a list of what you have, what you can borrow, and what you need to buy. Now take that last list and start stalking the sales. Everything from nappies to car capsules will end up on sale at some point. Plus, you’re going to have a lot less time to run around picking up bargains once pēpi is here. Get strategic and get key sale dates, like Boxing Day, or Black Friday on your radar. Baby shows and expos can be great for a bargain too. And if someone lovely offers to host a baby shower for you, give them a list of the things you need. That way, if guests want to bring a gift, they’ll know it’s something you’ll actually use, and not just end up in a cupboard. 

Kick-start their future finances

Having a wee one is a good prompt for exploring ways to future proof your family’s financial wellbeing. Remember, simple actions can make a difference over time. So, ensure your family’s KiwiSaver needs are covered, or consider joining if you haven’t yet. Think about whether you also need a place to keep money for your baby, whether for future savings or gifts from family and friends. As a new parent, having the right level of life insurance cover in place could help your peace of mind should anything happen to you. Check out insurance know-how for every age and stage to help you safeguard your financial wellbeing now and in the future.

Important information

ANZ insurance policies are underwritten by third party insurers. No member of ANZ or its related companies or any other person guarantees these insurers or any of the products issued by them. ANZ may receive a commission on any policy it arranges. For full details of cover, including limits, conditions and exclusions, see the relevant policy document available on our insurance pages or by calling  0800 269 855.

ANZ New Zealand Investments Limited is the issuer and manager of the ANZ KiwiSaver Scheme. Important information is available under terms and conditions. Download the guide and product disclosure statement.

This material is information only and you should seek professional advice about your circumstances.  We’ve taken care to ensure the information is reliable, we don’t warrant its accuracy, completeness, or suitability for your intended use.  To the extent the law allows, we don’t accept any responsibility or liability arising from your use or reliance on this information.

Please talk to us if you need financial advice about our products or services. See our financial advice provider disclosure at