I would like to tell you that I have always been good with finances. I would like to tell you that I always make great choices when it comes to money. But I made a promise to myself not to lie to you. So instead, I’ll tell you the truth. I used to be awesome With money. Absolutely terrible! It wasn’t until I took the pregnancy test that I opened my eyes and saw two little pink lines. I suddenly realized how terrible my spending habits were. It took pregnancy to force me to mature.
That’s when my husband and I decided we needed to change our financial future. And that’s the thing. We didn’t want to wait to be debt free so we could grow our family. I knew I wanted kids close together, and I wasn’t going to let debt stop me from having more kids. I knew that although it was difficult, it was possible to have more children And Work on becoming debt-free. My husband and I didn’t want to put our lives on pause.
Life doesn’t go as planned.
When my eldest son was just over a year old, we tried for a second child. The time limit has expired completely. My due date was May 10, and as a teacher, that was golden! I won’t have to take a long vacation from work and I’ll be spending the summer with my baby! Unfortunately, I’ve learned that just because you have a plan doesn’t mean it’s God’s plan. I had a miscarriage at 8 weeks and felt devastated. I grieved for the child I lost, and I was so angry because this didn’t quite fit me Plans. During this time, I was angry with God and everyone. Didn’t God know that I knew?! I hate seeing pregnant women walking past me at Target or at work. At the moment when I needed faith most, I lost it.
Just two months later I got pregnant again (which I know is a blessing). My third pregnancy was smooth sailing, despite my constant anxiety. We are blessed with another little boy. Two children in foster care was no small expense. There were months where we were paying over $1,500 in daycare costs alone. With a minimum debt payment of $1,400 (not including our mortgage), we were moving at a snail’s pace. But fortunately, we knew what to do to help us pay off debt, even as our family grew!
I know you may also want to grow your family and work on getting out of debt. That’s why I’ve listed 5 things you can do when you get pregnant and still on your debt-free journey.
1. Obtaining short-term disability at work.
If you know in advance that you will become pregnant, it is in your best interest to seek short-term disability at work. Most of the time you have to sign up for short-term disability before You become pregnant. We were able to apply for short-term disability during both pregnancies and the extra money was a lifesaver. In fact, we used it to pay our entire hospital bills! Don’t overlook this option! Go to your employer and sit down with someone. Read all the fine print so you are fully aware of what you are signing up for.
2. Pause your debt snowball.
When you’re pregnant, you’ll want to pause your sleep Debt snowball And save as much money as possible. This means you will only make the minimum payments on your debt. Instead of sending extra money toward debt each month, put it aside in a savings account. This way, if something goes wrong with your pregnancy or delivery, you’ll have extra money saved to cover the costs!
3. Save, save, and save some more!
When you get pregnant, it’s time to start saving money like crazy. This means that every extra penny you can find should go into a separate savings account. You never know what could happen during pregnancy, so it’s best to be financially prepared. Set a goal for how much you want to save before that bundle of joy comes into the picture. Eventually, the baby will come along and you can send any remaining money to pay off debt.
4. Borrow, save or sign up for everything!
I don’t know if you know this, but kids don’t know this Owns That would be expensive! I have a whole post about what you actually need to buy for a baby here. When I was pregnant with my first child, I set aside $50 a month for baby supplies. I went to garage sales and thrift stores to buy anything that could be washed and sanitized. We register for larger items such as a crib and car seat. People bought us diapers as baby shower gifts and even cooked meals for us when we first came home from the hospital! If possible, borrow maternity clothes from a friend so you can save money on clothing costs! With a little creativity, you can prepare for baby’s arrival and not spend a fortune.
5. Remember why you are getting out of debt.
When things get tough, or when you’re tempted to overspend, just remember Why You are working to get out of debt. It’s for this beautiful baby of yours. It is so that you can provide a better life for this child that you are bringing into this world.
Our family didn’t necessarily follow the right “plan” to get out of debt. Did we make some steps out of order? definitely! But guess what! We are still able to achieve our goals (although a lot Later What we could have if we didn’t have children)! We’re still paying off our student loans and car loans, all while growing our family. I would definitely consider that a success!
Need help getting started?
I get it. It can be very difficult to know how To start preparing the budget. Especially when you’re also trying to pay off debt! But here’s the truth: you work hard day in and day out. You deserve to have money left to show for it! You deserve to no longer live paycheck to paycheck. This is where I can help! Get your free debt-free roadmap and learn how to pay off debt fast!
