10 ways to help financially prepare for having a baby

From saving ahead to cutting costs with hand-me-downs, here’s what money experts suggest thinking about. By Vicky Shaw.

How to financially prepare for a new baby (Alamy/PA)

The arrival of a baby is an exciting time, but as you make preparation, it’s also important to consider how your finances will be affected.

According to Office for National Statistics (ONS) figures covering 1995 to 2014 in England and Wales, births tend to pick up during spring and peak in September.

“We’re heading into ‘births season’,” says Sarah Coles, head of personal finance at Hargreaves Lansdown. “If you’re expecting a baby in the coming months, nothing will fully prepare you for what’s in store, but it’s worth making all the financial preparations you can.”