If your new baby is still in the planning stages, one of the most important financial savings may be making sure you have good maternity coverage on your health insurance plan. Consult your insurance company or human resources department about your coverage, and consider whether perhaps the mother-to-be would be better covered under another available plan. If you are pregnant and uninsured, consider applying for state health insurance assistance. Many states offer coverage to pregnant women, and the income limits for this coverage are higher than for most state supported benefit plans. Once your pregnancy is confirmed, check into any additional pre-natal benefits your insurance plan may offer. Some offer twenty-four hour nurse's lines, guides to pregnancy, coverage for breast pumps, and similar needs.

The months you spend waiting for your new baby can be a busy time, but if you make time to seek out the best deals and the best quality on the things your baby needs it will make finances a bit easier after baby arrives. Some baby items can be bought second hand, or gratefully accepted as hand me downs. Assuming they meet current safety standards, hand me down baby furniture, toys and clothing are all a great way to save. A car seat is one of your most important investments for baby, and a high quality seat with a five-point harness is a critical item to splurge on for your baby. Read reviews, look at safety ratings, and have your seat installed or checked by a certified car seat technician to ensure your baby's safety. Consider what baby really needs, and limit those nesting urges. Lavishly decorated nurseries do not matter at all to baby, and are quickly outgrown.

While some expenses, like child care or loss of income, cannot be alleviated, other expenses associated with baby can be. Feeding your baby is one of those. Breastfeeding can be nearly free, save for some simple things for mom. Free assistance with breastfeeding is available from La Leche League, a not for profit organization. If you do bottle feed, call the formula companies for coupons and special offers to make feeding your baby more affordable. Low income families may find participation in the Federal Women, Infants and Children program (WIC) helpful to assist with formula, or provide a breastfeeding mom with additional nutritious food, support, and even breast pump rentals.

From medical expenses to a car seat, some baby expenses cannot be altered. Others can be, with careful and thoughtful shopping. While tax credits and additional deductions may help alleviate some of the expenses associated with baby, there is no way to deny that adding a child to your family adds costs to your monthly budget. With careful shopping and thoughtful parenting you can keep baby's expenses within reason and your bank account growing just as your family is.