The news that a baby is on the way is exciting. The news that you may have to save more money to help with the added expense that a baby brings is not so exciting! If you’re trying to ‘budget for baby’, you may wish to check out this knowledge hub for information on financing. Otherwise, let’s look at how you could make save your money for this important moment.

Make a list. Check it twice

These days, our expenses can largely be seen in an at-a-glance format by simply opening our banking apps and looking at what’s gone out of our account over the past few months. However, if we’re going to budget properly, we need to gather a water-tight list of expenses.

For example, begin with your current rent or mortgage payments. Next, your utility bills. After that, take a look at your insurance premiums, commuting expenses and grocery bills. But don’t stop there. Include details of any current savings or pensions schemes, any student loans, any financial help that you receive, and even details of your employer’s maternity/paternity leave policy.

Once you have a complete list of incomings and expenses, you will be in a much better position to begin budgeting for the arrival of your new bundle of joy.

Save money every day on your food bill

Reducing your food bill is one of the fastest ways to cut your expenses overnight. There are two main ways to do this. First, you’re going to need to say goodbye to the popular brands you know and love, and say hello to less well-known brands and own-brand goods.

The savings you will make by following this one tip will be phenomenal. Next, if you’re buying your lunch every day from a work canteen or over the counter from somewhere nearby, switch to taking sandwiches (or any other kind of packed lunch) to work with you every day.

Another top tip for reducing your expenditure on food also comes in the form of reducing your expenditure not on solids but on liquids. If you need to budget for the arrival of your child, switching to tap water can save you a daily amount of cash that all adds up.

Walk and cycle … leave the car at home (when you can)

Walking or cycling to work may not be feasible. And you might need your car to help with transporting your shopping from the store to your door. But as for weekend visits to family and friends? Or ‘nipping out’ to post a letter? These are things that cost fuel in your car and can be instantly cut out to save money.

Save on your heating bill

This is the oldest trick in the book and it’s so simple that it almost doesn’t need to be mentioned, but if your heating bill is a thorn in your side, simply lower your thermostat a few degrees and enjoy lower charges. People often raise the thermostat to high levels thinking that this will help the house to heat up faster - this is not true.

Disclosure: This is a collaborative post.