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How to become more financially savvy *before* your baby is born

According to the U.S. Department of Agriculture, as of 2015, the cost of raising a child is $233,610—a number that can make anyone's jaw drop to the floor.

How to become more financially savvy *before* your baby is born

Ready to bring a baby on board? Feelings of excitement can often be met with those of financial concern as you prep for this milestone. According to the U.S. Department of Agriculture, as of 2015, the cost of raising a child is $233,610—a number that can make anyone's jaw drop to the floor.

But before you start to worry, here are ways you can become more financially savvy before the baby is born:

1. Budget for healthcare costs

The cost of delivering a baby can vary by state, but suffice it to say it can be thousands of dollars. Castlight Health found that the lowest average cost of delivery was $6,075 in Kansas City, MO and the highest average cost $15,420 in Sacramento, CA. Costs are even higher for a Cesarean delivery.

The first thing you want to do is check your insurance and see what they will cover so what you will be responsible for. Then create a separate savings account so that you can cover any costs that you're on the hook for. You can set up automatic savings after each payday up until the baby is born to help assist with any healthcare costs associated with delivery.

2. Cut your expenses

Before the baby arrives, do a spending audit and see where you can slash some expenses. Free up any leftover money to help cover the increased costs that will come, such as food, clothes, and formula.

If you're struggling with how to do that, take a look at all of your expenses and write next to each either"want" or "need." Look at your "want" list and see which expenses are ones you can either eliminate or cut back on. If it doesn't bring you joy or add value, ditch it! You might even find subscriptions that you didn't know you had.

3. Go for second-hand goods

Of course, there are some things you definitely want to buy new for baby, but things like clothes and toys you can get second hand and save a lot of money. Your baby will grow so fast and buying new clothes every few months can add up. If your family members or friends have old baby clothes or toys they're willing to part with, it will save money and you can pay it forward down the line.

4. Look for sales or coupons

Clothes and toys are items that you can buy second hand, but products, like a car seat and crib are best new. You want to be up-to-date with safety and know what you're getting. Before going shopping, search for sales or coupons before you head out. A little research online can go a long way and save you hundreds.

5. Have a garage sale

If you need to make room for baby, it's time to get rid of items that you no longer use or need. Take all of the stuff you are planning to get rid of and have a garage sale to make extra money. You can also try selling online on Craigslist, Poshmark and OfferUp too.

Take the money you earn from selling your stuff and put it in your savings account earmarked for your baby.

6. Get a 529 plan

It's never too early to save for your baby's college. You can open a state-sponsored 529 plan which is a tax-advantaged savings account for education-related costs. Instead of asking for gifts or toys from family and friends, you can request money to go toward a 529 plan. It will be an impactful gift that will help your child in the future and help lessen the financial burden on you.

7. Prep now instead of later

Your whole world will change when your baby arrives, so in order to save money, time and stress, create a plan now. Is there a family or friend close by who can babysit if you need some rest or have to run an errand? Ask them now if they can help out.

Start preparing meals in bulk that can be in the freezer and easily made so you don't have to think about food. Put your bills on autopay so that you don't miss any payments and get hit with late fees. Know how long you can get maternity or paternity leave and understand how that will affect your income and budget. Getting all of this ready ahead of time can help you in the long run.

8. Purchase life insurance

While thinking about why you need life insurance can be a bit stressful, preparation is essential, especially when you're adding another member to your family. Life insurance will provide financial support if you had a loss of income due to something happening to either you or your partner.

9. Understand any tax benefits

The birth of your baby will affect your taxes, which can actually end up putting more money back into your pocket. Do some research online and see how a dependent will change your taxes in your state, such as new exemptions available. Or, find a trusted accountant or tax specialist in your area who can walk you through your options.

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In This Article

    Ara Katz/Seed

    We spoke to Ara Katz, co-founder and co-CEO of Seed, who shared her journey to (and through) motherhood—and gave us the lowdown on how probiotics can benefit mamas and children alike.

    Chances are, you're aware that probiotics can help us digest the food we eat, keep inflammation at bay, synthesize essential vitamins and more. But here's the thing: When it comes to probiotics, there's a lot of misinformation… and because of that, it's hard to know what's actually a probiotic and which is the right one for you.

    That's why we chatted with Ara Katz, who is a mama to son Pax and the co-founder of Seed, a company disrupting the probiotics industry. The entrepreneur told us about her motherhood journey, what led her to start her company and what she wants other parents to know about probiotics.

    Q. What was life like for you before you became a mama?

    I was bi-coastal after co-founding a mobile tech company in New York City with a partner in LA. My life was, for as long as I can remember, consumed by creating and work. I was fairly nomadic, loved to travel, spent many hours reading and practicing yoga, being with friends [and] waking up at the crack of dawn. [I] was fairly sure I would never marry or have children. And then something shifted.

    Q. What were some pivotal moments that defined your journey to motherhood?

    Ha, that makes it sound like motherhood is a destination when at this very moment, more than ever, it evolves daily. I lost my mom when I was 17 and spent most of my life believing I didn't want to be a mother. I had a lot of wiring about its limitations and constraints—I'm sure relics of grief and the fear of loss.

    My journey started with a physiological wanting to be pregnant and have a baby. There was a kind of visceral sense that my body wanted to know what that was like and a strange curiosity that, at least for that period of time, usurped my ambivalence about motherhood.

    Then I had a miscarriage—a beautiful inflection point in my story. I resigned from my company, chose a coast, committed to be more committed to my (then) boyfriend, now husband, and tried again. I got pregnant shortly after that and found pregnancy to be a profound journey within, a reshaping of my life and the tiniest glimpse of how motherhood would unfold.

    In the 55 months since giving birth (and I like to use months because I have learned in the moments that I am most frustrated as a mom that he has only been on this planet for less than 14 fiscal quarters), I have realized and surrendered to a definition of motherhood that is a process. One of cultivating, creating, recreating, shapeshifting, learning, feeling, healing, hurting and experiencing the most potent form of presence I have ever experienced—and an aching, expansive love I didn't know possible—not just for my son, but for all living things.

    Q. How did motherhood change your approach to your career?

    Becoming a mother is certainly a persistent lens on all of my choices, but it was really my miscarriage that recalibrated my path. My pregnancy rekindled my love of biology and health and led me to my co-founder and the microbiome. My breastfeeding experience incepted our first product focus, and the newfound accountability for a human inspired our brand.

    Q. What inspired you to co-found Seed?

    I met my co-founder, Raja, during my pregnancy with Pax. [I] was immediately awestruck by his ability to both deeply understand science and to methodically break down a product, dietary question or piece of advice in a way that's educational (you actually learn something about your body), actionable (you understand what to do with the information) and foundational (you can build on that knowledge in the future to continue to make better choices).

    As we spent more time, our combined passion for microbes, their potential impact on both human health and the environment, and how to set up a child for a healthy life became increasingly clear. And through birth, seeding (the process by which we get our foundational microbes and the inspiration for the name of our company) Pax and my struggles with breastfeeding, my entrepreneurial spirit was lit to build something with Raja. His deep experience in translating science to product, and mine in consumer, community-building and translating through storytelling, culminated in a shared vision to set a new standard in health through bacteria.

    Q. Probiotics have been trending in recent years, but they're nothing new—can you talk a bit about the importance of probiotics?

    Interest in gut health and probiotics increases month by month. However, despite the quickly growing number of "probiotic" supplements, foods and beverages out there, there's still a lot of consumer confusion—particularly around what they are, how they work and why we should take them. Probiotics have been studied extensively across various life stages, body sites and for many benefits. Digestion is an obvious and immediate one (and the primary reason most people currently take probiotics). But other strains have also been studied for skin health, heart health and gut health (including gut immune function and gut barrier integrity). But this doesn't mean that any and all probiotics can do these things—this is the importance of 'strain specificity.' In other words, ensuring that the specific strains in your probiotic have been studied for the benefit you desire is critical.

    Seed Daily Synbiotic

    Seed

    Seed's Daily Synbiotic is a 24-strain probiotic + prebiotic formulated for whole-body benefits, including gut, skin and heart health.


    Q. How do probiotics play a role in your life?

    I mean, I take them, I develop them and I work with some of the leading scientists from around the world advancing the field—so they play a big role. As for my personal health, I take our Daily Synbiotic daily and my son also takes specific strains for gastrointestinal health and gut immune function. Beyond that, it's the re-orientation around my microbiome that guides many of my choices: how important fiber is, specific compounds like polyphenols found in berries, green tea and other foods, avoiding the use of NSAIDS like ibuprofen and antibiotics when not needed, exercise, sleep and time in nature [are] all aspects of our daily life that impact our microbiome and our health.

    Q. What are some misconceptions about probiotics that you would like to set straight?

    There's one main myth on from which all the other stem: that probiotics aren't considered a serious science. On the contrary, it's a field of inquiry that demands incredible rigor and extensive research. And when anything and everything from chocolate to ice cream to fermented food and kombucha to mattresses can call itself "probiotic" due to underregulation in the category, that grossly undermines the science and their potential.

    The term 'probiotic' has a globally-accepted scientific definition that was actually co-authored by our Chief Scientist, Dr. Gregor Reid ,for the United Nations/World Health Organization.

    At Seed, we work to reclaim the term for science, through the development of next-generation probiotics that include clinically validated strains and undergo the most rigorous safety, purity and efficacy testing procedures. Because why would you invite billions of unknown microbes into your body without asking "what's in here, is it the correct dosage that was studied, and has that strain in that amount been studied in human clinical trials to do something beneficial for my body"?

    Q. Can you tell us a little bit about what product you plan to launch next?

    We are developing a pipeline of consumer probiotics to target specific ecosystems of the body and life stages, including a synbiotic for children. Our next product will reflect a unique breakthrough in the field of pediatric probiotics, which we are excited to announce soon.

    This article was sponsored by Seed. Thank you for supporting the brands that support Motherly and mamas.

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