5 ways for expectant mothers to prepare financially

December 11, 2021

Having a baby can set off a firework of emotions that have you feeling happy and anxious all at once. Expectant mothers need to read the following. 

Becoming a mother is undoubtedly one of those experience that can leave you in wonder. However, it does come with a hefty price tag. Not only will your body have to adapt to the fact that there is a bundle of joy growing within you, but your budget will have to adapt. Planning your finances ahead of time can help an expectant mom take care of her child without the financial stress.

Whether you are single or married, planning on adopting or giving birth it is essential to have all your bases covered. However, if you are feeling overwhelmed in terms of where to start we have compiled some savvy tips to get you started. 

  1. Preparing yourself financially can reduce stress

Many changes come with having a baby, dealing with weight gain, swollen feet, and your heightened sense of smell that makes you want to gag at things you never noticed before. These can be stressful. Being financially burdened is the last thing that you will need.


Expectant Mums and Insurance


When it comes to your finances, you can compare the amount of time you and your partner have in terms of paid maternity leave. This is where being transparent with your finances with you and your partner is essential to working with a realistic budget. Single mothers can also do the same to ensure that they have enough money to cover their maternity leave. Always remember to work within your means as this needs to be stretched out even after your child has been born.

  1. Something borrowed something new

In whatever you do, shop smart. You may be tempted to go on a baby shopping spree for all those adorable items you have been eyeing. However, purchasing everything new can burn holes in your pockets. According to the South African government, raising a child from birth to 187 years of age could cost could reach up to R1 681 470 at 2019 prices. There are good quality items that you can purchase such as a stroller, clothes, and toys which can be disinfected to help you stay atop of your budget. Keeping an eye out for specials or things that can be purchased in bulk is also a convenient way to not blow your budget.

  1. Re-asses your health plan

Pregnancy is a time where both mothers and babies are vulnerable to health risks from the simple spreading of bacteria. Furthermore, the cost of giving birth is also something that you need to keep in mind. Depending on which private hospital you choose to have a baby at you can look at paying R45,000 when it comes to the rates of your obstetrician, gynecologist, anaesthetist, and paediatrician. There are also monthly expenses that you will have to juggle such as medical aid can cost up to R600 and vaccinations that can cost about R200 – R1 600 a month. Having a medical health plan in place can save you from emergency expenses than having to foot a bill you have not planned for.

  1. It pays to have a back-up plan

Most of a women’s stress during pregnancy is not for themselves, but for the baby. Specifically, angst around the birth and whether the baby will be completely healthy following the birth. Having a life insurance plan for your child can give you access to benefits such as the MiLittleLife Birth Benefit offered exclusively by MiWayLife offers cover of up to R180 000 for 14 of the most common and severe conditions affecting new-borns at birth. The product provides cover for several conditions affecting the baby and includes things such as Down’s Syndrome, Cerebral Palsy, Cleft Lip, and Club Feet.

MiWayLife has developed the birth benefit to cover your growing baby bump for a minimum of R20,000 from the first premium and a maximum of R180,000 depending on when the policy was taken. And in the case of pregnancy brain, the offering is human – in case of any missed premiums, there won’t be any penalties; your cover will remain in place. While the amount won’t grow, it won’t shrink either!

  1. Always stay one step ahead

For those expecting for the first time, you may soon begin to appreciate that the birth is not the destination but merely part of the journey and therefore the worrying doesn’t diminish after birth. In fact, the bigger your little one gets, the more scrapes they can get into! Newborn cover which evolves naturally into child insurance can take the sting out of this both emotionally and financially, with cover for conditions your tot might develop only after birth. A reassuring 79 conditions, plus a catch-all, are covered by MiLittleLife’s Child Benefit, including ICU admission costs and dog bites, plus more specialised congenital issues such as Cleft Palate surgery.

“At MiWayLife, we are constantly working at reimagining life insurance and this presented us with an ideal opportunity in one of the areas that remain under or unserved by the insurance market,” says CEO Craig Baker. “We all know that although the possibility of something unforeseen happening to one of your children is upsetting and frightening, it does not change the reality that bad things happen to good people. Simply spending a few minutes investigating the options and getting the cover in place will provide you with both financial and emotional protection.”

“MiWayLife is an authorised FSP (No. 45741) and its product offering is underwritten by Sanlam Life Insurance Limited, a registered long-term insurer.”


All info was correct at time of publishing