How To Prepare Your Finances For A Second Child

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Hey mamas!

So if you’re a single mom of 1 as I am, then this post will be perfect for you! Planning for baby number 2 is a different experience if you’re not married and it can be quite draining financially without a husband to bring home the bacon. So if you are thinking about getting pregnant, or you already are and gearing up for your second round of single mommyhood, read on for some finance tips!


How To Prepare Your Finances For A Second Child

Having a second child is a big decision, but I suppose you managed to get it right with your first child and you’re prepared for everything now so it’ll be easier right? Think again, having a second child brings a whole host of brand new challenges that you didn’t have to face the first time around. Especially if you are recently single and facing having a new baby on your own this time around.

Another one of the biggest challenges is the financial aspect. People often think that it’s just a case of doubling all of the costs of having one child, but that’s not the case. The preparations that you made the first time around are a good start, but there are other things that you need to consider. Here’s how to prepare yourself financially before having a second child.



Sort Your Credit Out

No matter how well you prepared for your first child, the chances are that you ended up in a sticky financial situation anyway. Children are unpredictable and there are no solid rules for parenthood so most of us end up having to borrow money at some point. That’s fine, but if you’re in debt and you’ve got bad credit when your second child arrives, you could be in big trouble. Being a single woman, having your own strong credit is very important. 

You may have to buy or rent a larger house as your family grows and for that, you’ll need good credit. The first thing to do is check your credit score and see what state it’s in. If you’ve been borrowing a lot of money, it probably won’t look good. Often, there are mistakes on your credit score and you can get them removed to improve your situation. Launch a credit bureau dispute if you think there are any inaccuracies on there. Once you’ve done that, you need to cut back on spending and clear your debts, otherwise, they’ll pile up even more when you have a second child.


Write A New Budget

Don’t just double your current expenses because that won’t be accurate. You need to add up all of the costs of having a new baby like doctors appointments, diapers, clothes etc. and factor that into your existing budget. Luckily though, there are some things that you can take off because you don’t need to pay twice.

Look at what clothes you’ve still got from your first child that can be handed down. Baby books are another thing that can be reused, and remember that when you’re paying for a babysitter, the cost is going to be the same. However, there are some things that will cost more. The new baby can’t eat the same food as your first child, for example, so you’ll be spending more there.

How To prepare for baby number two as a single mom |

Think Carefully About New Purchases

You’ve got to change your mindset when buying things for your first child now that you’ve got a second one on the way. Any time you buy anything, ask yourself whether it can be handed down to your second child when they’re a bit older. That means buying quality items that are going to last, not the cheap stuff that will break. It seems like you’re spending more now but you’ll save in the long run.


Don’t make the mistake of thinking that having a second child is going to be just like the first. You’ll have a whole new set of hurdles to overcome. Try shopping for baby items in thrift stores and consignment stores and find like new items for much less.  Saving money as an expecting single mom won’t be as challenging if you know how and where to save and spend your money. 

Look forward to the new addition to your little family and remember to feel blessed and not stressed! You can do this, so don’t worry about a thing. A new bundle of joy is coming into your life, and you will know exactly what to do.

Share this post with all your expecting mom friends and don’t forget to subscribe for more posts on finances, single motherhood, and more!

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Much Love,




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