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Family Finance Tips

A new baby changes your household budget almost overnight. These simple steps will help you plan ahead, stay in control and feel confident about money before the big day arrives.

Six money moves to make before your baby arrives

You don't need to be a spreadsheet expert to get your finances baby-ready. Start with these, ideally in your second trimester while there's still time to adjust.

1. Know where your money goes now

Before you can plan for new costs, you need an honest picture of today's spending. Track every account for a month or two and group it into categories such as food, bills, travel and treats. Most families find at least one surprise.

2. Plan for the drop in income

Statutory Maternity Pay is 90% of your average weekly earnings for the first 6 weeks, then a lower flat rate for up to 33 weeks. Work out what your household income will be month by month during leave, and check whether your employer pays more.

gov.uk/maternity-pay-leave

3. Build a baby buffer

Aim to save enough to cover any shortfall during leave, plus a cushion for the unexpected. Set up a dedicated savings pot, move a fixed amount in on payday and watch it grow.

Work out your target with our Baby Budget Planner

4. Cut the subscriptions you've forgotten

Streaming services, apps, gym memberships and magazine renewals quietly add up, often to hundreds of pounds a year. Review every recurring payment and cancel anything you won't use with a newborn at home.

5. Check your cover

Now is the time to review life insurance, income protection, home and car policies, and to make or update a will. Note every renewal date, because letting a policy auto-renew is often the most expensive option.

6. Keep your paperwork in one place

Payslips, MATB1 forms, Child Benefit letters, insurance documents and mortgage statements all matter in the coming months. Keeping them together and easy to find saves stress when you're short on sleep.

gov.uk/child-benefit

Recommended app

Take control of your family finances with Home Accounts

Every tip above is easier when all your money is in one place. Home Accounts is a private personal finance app for iPhone, iPad and Mac. It brings your bank accounts, credit cards, savings, mortgage and loans together on one screen, so you always know where you stand.

Discover Home Accounts Get it on the App Store

Plan

See what's coming before it happens.

  • Budgets by category: set a monthly limit for groceries, nappies or days out and watch a progress bar fill as you spend.
  • Savings forecasts: enter your interest rate and see what your baby buffer will grow to in 1, 2, 5 or 10 years.
  • Mortgage & loan forecasting: see your remaining term and total interest, and model how overpayments could save you money.

Control

Catch overspending in the moment, not when the statement lands.

  • Credit & overdraft limits: a colour-coded bar shows how much of each limit you've used, so you can act before the bank charges you.
  • Subscription tracker: see the true monthly and annual cost of every recurring payment, with reminders to review them.
  • AI spending insights: on supported devices, Apple Intelligence suggests where to focus, entirely on your device.

Manage

Keep the whole household's money organised.

  • Every account in one place: bank, credit card, savings, investment, loan and mortgage accounts, with cleared and pending balances.
  • Receipt scanning & statement import: photograph a receipt or import a CSV from Barclays, Lloyds, Santander, Halifax, NatWest or HSBC, then reconcile in a few clicks.
  • Insurance tracker & document vault: get a warning 30 days before a policy expires, and keep statements, policies and contracts linked to the right account.
100% privateYour data stays on your device, with optional iCloud sync
Face ID & Touch IDApp lock keeps your finances safe if someone picks up your phone
£49.99 onceA one-time purchase with no subscription
iPhone, iPad & MacOne app across all your Apple devices

Start your family's finances off on the right foot

Find out more about every feature, see screenshots and download the app.

Visit yourhomeaccounts.co.uk

Quick wins for the first year

  • Claim Child Benefit as soon as your baby's birth is registered, as it can only be backdated up to 3 months.
  • Check Tax-Free Childcare and funded hours well before you go back to work, using the government childcare calculator.
  • Review your budget each month during leave. Your spending will change as your baby grows, so adjust your categories as you go.
  • Shop around at renewal time for insurance, broadband and energy instead of letting them roll over.

These tips are general information, not financial advice. Statutory pay rates and benefit rules change, so always check the latest details on gov.uk. Home Accounts is our own app, made by the team behind I'm Expecting. Its features and price are correct at the time of writing, and you can check them on yourhomeaccounts.co.uk.