Thinking about starting a family is a big step, but one filled with excitement as you plan for the new arrival.

One of the most important things to consider before starting a new family is financial preparation. A baby in the house will mean big changes to your monthly budget, but there are simple changes that you can make now which will make a big difference later on when you have a family. Let’s take a look at the top four ways you can prepare financially before having a baby:

When you start investigating the expenses a new baby will incur, it’s absolutely certain that you will uncover items you will never have thought of before, such as expensive ointments, expressing pumps and even special breast milk bags. Baby essentials (nappies, clothing, wipes) can also be very expensive, so you need to revise your budget far in advance.

Try and cut down on non-essential items for the next nine months and save the money for when baby comes, trust us, you’ll be glad of it!

Alongside the happiness a child brings, it also means more expenses, so you really need to make a great effort to pay off any debts you have before the new arrival.

Use every bit of spare cash you have to pay off debts – sadly, this means cutting down on those little luxuries like takeaways and visits to fancy coffee houses…

If you are thinking about having a child then you need to put in place strategies that will allow you to save money effectively.  For example, you may wish to put money aside for your child’s education, which you will not need immediately but will constitute a large amount of money further down the line.  So rather than factor this saving into your everyday budget, you should make sure a percentage of your salary is automatically transferred into another account each month. Try and find a savings account that pays the best interest rates as that way you will make money too. If you automatically transfer the money you will be less tempted to use this for other expenses.

You might feel nostalgic selling your possessions, but think hard about whether you will actually use that musical instrument when your child arrives, if there will be room for that exercise machine or any other large hobby items you bought years ago?  Or would you rather have to money to put towards a brand new cot or to ensure you’re debt free before the baby comes along?

If you have a room that you want to set up for your baby, then you will need to clear it out. And what better than to sell some of the clutter and help your future finances!

The four steps above are all simple in the sense that they will make you think about your household budget and how you spend your income. If you are thinking of starting a family this is one of the best things you can do. If you properly take into account having another person in your life, then there should be nothing stopping you. Of course, do keep in mind that children can be unpredictable, so if find yourself needing to borrow money to cover an emergency purchase for your child don’t worry too much. There are many very reputable companies online that will give you all the information you need if you want to borrow money. For example, if you need a short-term loan, read about Wonga South Africa and see if they are right for you.