Financially preparing for a new baby

When you’re expecting, there’s lots of time to plan. Picking a name, painting a room, getting everything ready for the day your baby arrives.



Preparing for the big day

There’s lots of stuff that you’ll need to buy so before the little one arrives, now is a good time to sit down and take a look at everything that’s to come from the financial side of things. Maternity leave, buying equipment, clothes, food and all the bits that go with caring for a new baby can cost more than you expected.

pregnant woman

How to get started

To get you started, here are some of our tips for keeping an eye on the money when there’s a new baby in your life:


Figure out your budget and stick to it

We know that it can be tough to walk around the baby department and resist the urge to buy it all so decide your budget and stick to it. This will help you keep track of all your finances and will help to manage your spending. Managing your household Cost of Living is a great way to keep on top of things.


Start saving now

If you can manage to save something small each month, try to split it into a fund for your future and a new baby fund. That way, you’ll know just how much you have to spend on baby items and how much you have for family holidays or events. With an AIB Online Saver account you can open up to four savings accounts in your own name. You can also save with flexibility and get hold of your money whenever you (or someone a little smaller) need it.


Think second hand

Not everything you need has to be new. You can think about cost effective options as well. Family or friends may have baby furniture, or clothes that they’ve grown out of and can give you. This will save you from splashing out for new stuff and can reduce the amount of money you spend.


Plan for the future

Now is a good time to sit down with your partner so you are financially prepared for your future. There will be lots more things to think about like childcare, schools or if you or your partner will be returning to work. If you start thinking about these things now it will ease the financial pressure on you later.

Start saving today


Start saving for your child’s future today with the AIB Online Savers Account. If you’re an AIB customer, then you can set it up in minutes through the Mobile Banking App or Internet Banking.

Find more information on planning around families here.

Important information

Allied Irish Banks, p.l.c. is regulated by the Central Bank of Ireland.