How to Financially Plan for Your First Baby on a Low Income

Pregnant woman holding her belly, symbolising financial planning for a baby

How to Financially Plan for Your First Baby on a Low Income

There’s nothing quite like the excitement of finding out you’re expecting. But alongside the excitement comes the financial responsibility, which can feel overwhelming, especially if you’re already trying to make ends meet.  That’s why financial planning matters more than ever when you’re preparing for your little one.

Here’s a practical guide to help you financially plan for your baby’s arrival, taking into account common expenses, how to tackle the unexpected, and finding support.

Understanding Medical Costs 

  • Hospital stay: If you’re going through a private hospital, many medical aid schemes expect you to pay anything between R15,000 to R50,000 upfront as a deposit before admission (mostly refundable). In public hospitals, there may be a small upfront fee of around R1 500 applicable for this non-emergency procedure. 
  • Antenatal care: Enquire whether your medical aid or nearest public hospital covers maternity expenses such as pre-natal visits, scans, and monthly checkups, which could cost around R500 to R1 000 per visit. 

Preparing the Home 

Getting your home baby-ready doesn’t have to be expensive; a minimalist approach will save you money.

  • Buy second-hand items: Gently used baby furniture and clothes can cost a fraction of the price. Check local Facebook Marketplace groups or parenting forums for deals. 
  • Create a baby registry: Family and friends are often eager to help. A registry lets them contribute items you really need. Include things like nappies, formula (if needed), baby clothes, a car seat, and a cot. 

Tip: Make a simple checklist and start early. Buying one item at a time helps lighten the load.

Expect the Unexpected 

Even with solid financial planning, surprises will pop up, so it’s a good idea to create an emergency fund for these types of expenses: 

  • An extra night stay in the hospital. 
  • The need for a special formula for your baby. 
  • You may need to return to work earlier than expected and need to call in extra help from a nanny, relative, or daycare.
  • Vaccines or treatment costs not covered by public clinics.
  • Babyproofing your home.

Seek Extra Support Where You Can

Raising a child needs financial planning to lessen the stress, so where you can, it is important to find out about other resources available to you.

  • Public hospitals and clinics: Check out local antenatal clinics and hospitals through health.gov.za for free or low-cost options.
  • Grants: You may qualify for the Child Support Grant from SASSA once your baby is born. It’s not a lot, but every bit helps. Visit sassa.gov.za for more info.

Community help: From WhatsApp parenting groups to churches and NGOs, you’d be surprised how many people are willing to help with baby clothes, advice, or food parcels. 

Your Take-away 

Your first baby is a big step, and yes, it’s going to cost money. But with clear financial planning, community support, and a bit of flexibility, you can prepare yourself and your home without breaking the bank.

Start where you are, use what you have, and don’t be afraid to ask for help. Because every baby deserves a warm welcome and every parent deserves to breathe a little easier.

How Atlas Finance Can Help

At Atlas Finance, we understand what it’s like to raise a family on a budget. That’s why we offer real solutions to real people. If you need help covering those surprise costs, we offer short-term personal loans from R500 to R20,000, repayable over up to 8 months. This will give you quick access to cash when it matters most. 

Remember, financial support is within reach. Apply online here with Atlas Finance.