20 Feb Vital Financial Tips in Preparing for Pregnancy
Business owner and single mother Kate Heussler talks about how vital financial planning is, as she prepared to became a solo mother.
Pregnancy: Preparing for the Unexpected
Money conversations matter
If you have a partner, discussing finances before pregnancy is essential—covering expenses, parental leave, emergency savings, shared domestic labor, and superannuation contributions during career breaks. Joint finances work best if financial values align; otherwise, a joint account for bills with separate personal accounts is advisable. Childcare is a household cost, not just the mother’s. If you’re solo, plan for financial independence, possibly budgeting for paid support (nanny, housekeeper, etc.). Relying on friends isn’t always feasible.
Build a ‘baby buffer’ fund
I aggressively saved during pregnancy, knowing I had no maternity leave. Some may need three months of expenses covered, but six months is ideal.
Minimalist baby shopping
New parents are often convinced they need everything. I prioritized quality over quantity, opting for high-use items that held resale value. My Joolz pram cost $1,800 but sold for 80% of that four years later. I am still using my $450 Stokke high chair. Shopping strategically—mixing neutral coloured budget basics with quality brands on sale—saved money while still achieving stylish family photos.
Prepare for health surprises
Even without IVF or complications, I budgeted for unexpected scans and doctor visits. My birth plan was a vaginal delivery, but after 17 hours of labor, I had an emergency C-section. Private healthcare and a private OBGYN were worth considering.
Transportation considerations
If sharing a car, plan for logistics—does your partner take public transport so you have the car, or is a second car needed?
Birth: Where the Costs Add Up
Public vs. Private?
I chose private care for comfort and consistency, but gap fees and hospital costs were significant. My 2018 private birth at The Mater Hospital in Sydney cost $500 out of pocket for a five-day stay, plus $6,000 for my OBGYN. Costs will be higher in 2025 and beyond. Many couples miss out on private benefits by not planning for insurance waiting periods or required deposits.
Hidden post-birth costs
New parents often forget postnatal expenses—lactation consultants ($300 per visit, fully claimable), breast pumps, bottles, and formula ($25-$40 per tin). Nappies add up quickly. The only legally required new baby items are a car seat and a cot mattress; everything else can be bought second-hand.
Unexpected costs, such as extended hospital stays or premature births, should be factored into your budget, including meals and transport.
Maternity Leave: Long-Term Financial Considerations
Running a business while on ‘leave’
Business owners don’t have formal maternity leave. Hiring temporary help, creating passive income, or structuring work flexibly can help. My plan to stay home backfired when I became a single mother and homeless with a one-year-old.
Government entitlements matter
Many parents overlook government paid parental leave, family tax benefits, and carer payments. Understanding eligibility early is key to financial planning.
Childcare costs & returning to work
Childcare in Sydney is expensive, averaging $70-$200 per day, with the Northern Beaches costing me $220/day. Planning for subsidies, waitlists, and flexible work can help ease financial strain.
Superannuation and long-term finances
Taking a career break impacts your superannuation, investments, and savings. Pausing contributions affects compound interest, setting you back financially.
Future costs
The cost of living will rise, and having a child affects home ownership and repayments. Beyond daycare, consider long-term expenses, should you want private schooling, all this should be planned for from birth.
Financially preparing for pregnancy means thinking ahead, budgeting wisely, and being adaptable to unexpected costs. If you would like to discuss further please let me know. It’s a topic close to my heart. Hindsight is a wonderful thing, and I know – as prepared as I thought I was – I was still caught off guard. If my lived experience can help I’d love to share it.
Kate Heussler is a Sydney-based mother and brand coach with a passion for helping women feel confident in every stage of life. As an unexpected solo mum navigating the balance of career and parenting, she understands firsthand the importance of financial security, grace under pressure, and the power of a well-timed deep breath. With a background in design, branding, and social etiquette, Kate shares practical insights to help women feel empowered—whether they’re planning for a baby, mastering modern manners, or simply trying to enjoy a moment of peace with a cup of coffee.
Main Image: Kiri Shay Photography
