New Baby – Overseas
New Baby – Overseas
My husband and I had our first baby during the first wave of the pandemic and while we were prepared for the dramatic change in our lives, we were not as financially prepared as we thought. Having a baby is expensive and having a baby in a foreign country makes it even more difficult to navigate financially – especially because there is a limited number of people who speak English where we moved. We had questions about budgeting and financially preparing for a baby, but it was difficult to ask these questions as there were only a few English-speaking experts in the area that could give us their guidance!
One piece of advice that I wish I had was regarding how little you actually need for a baby – you don’t need every new toy or gadget! We purchased everything brand new and most items were barely used or never opened. I would recommend looking at local second-hand listings. For some items, you can even wait until the baby has arrived and then purchase them when you see that you actually need it.
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Mission Response:
Congratulations on your new bundle of joy, Ellyn, what a beautiful baby! It sounds like your experience was especially challenging given the pandemic and living overseas. It can be hard to plan for every situation but preparing your finances for a new baby is a great start. Your tips on shopping for second-hand items and waiting until the baby arrives to see what items you actually need and will use are great advice for expectant parents. The good news is that you can start planning ahead of time and adjusting your spending plan during those pregnancy months. This worksheet is a great tool to start thinking through and planning for potential changes. Tessa, a mom of two, shares her top tips on preparing your finances for a new baby in this short video.
Visit our New Child milestone page for more in-depth information on welcoming a new child to your family while being part of the military community. Another great option to learn more and improve your family’s financial readiness is to make an appointment with a Personal Financial Manager (PFM) or Personal Financial Counselor (PFC) for no-cost, personal financial counseling at your installation or via Military OneSource.
