8 Tips to Plan for An Unplanned Pregnancy During Financially Tough Times

Preparing financially for an unexpected pregnancy can be tough, especially during an economic slowdown. Learn what you can do to smoothen the journey.

Congratulations, you’re expecting a new baby! However if this baby news comes as a surprise to you, the situation may be overwhelming whether for first-time parents or even experienced ones. What more if your family is currently facing financially tough times.

This article aims to help both Mom and Dad begin planning for this unexpected journey by raising your awareness about what you need to consider. With support from friends and family members you are able to pull through this.

First and foremost, let’s begin by establishing a new normal mindset. One must be willingly to make some tradeoffs (i.e. sacrifices) in exchange for practical options. Consider prioritizing needs over wants in order to do more although with less money.

#1. Review your current expenses

Yup, the first step is that simple!

List down all your expenses no matter how big or how small, and then review these expenses to separate the NEEDS from the WANTS (i.e. basic needs vs luxuries). In a financial crunch, it is necessary for you to do this in order to stretch your Ringgit further.

As you separate your expenses into these 2 categories, it is time to trim out the unnecessary wants to free up your money. Cut down your luxury spending. Some examples to consider cutting are:

• Astro subscriptions which you don’t watch 24/7
• Mobile phone and internet packages you don’t normally fully utilized
• Eating out options when you can cook at home
• Coffee that costs you RM15 when you can make one at home for only RM2
• Monthly shopping stipend for your clothing
• Takaful or Insurance plans that provide duplicate coverage with the plans you already have.

It is time to go for basic needs first until you find yourself back on track with your finances, which may take some time.

#2.  Pick a delivery hospital

Even with budget constraints, delivering your baby must still be done safely. When considering between a private hospital and a government hospital, undeniably our government hospitals do also provide good medical care but with a more affordable price tag.

What is the number on this affordable price tag? You may refer to the list of cost needed to deliver your baby in government hospital. The price range from as low as RM10 to RM1,200.

With prices that good, why wait any further? Start identifying which government hospital is nearest to where you live.

#3. Prenatal check-up & baby vaccinations

Our government healthcare system again saves us good money. Both prenatal check-ups and baby immunizations can be done for FREE or for a minimal fee at your nearest government health clinics, saving you thousands of Ringgit.

However, if you are pressed for time and do have a certain budget you can use, the next best economical option is to find a nearby family clinic that provides these services. Average cost per check-up at a clinic can be from RM40 to RM85 per visit with scan, urine test, blood pressure check, without supplements. If you require pre-natal supplements it will likely set you back an additional RM100. Alternatively, find out from your doctor what supplements you need and buy them directly from pharmacies. It’s a competitive market out there so you may find the same supplements at different prices whether at your neighborhood pharmacy or at leading pharmacy chains.

As for baby’s vaccination, there are many vaccines provided for free by the Ministry of Health (MOH). However for other vaccinations not provided by our government healthcare system like Rotavirus, Chicken Pox, and Influenza, one can opt for getting those at a family clinic rather than private hospitals to avoid paying the hefty additional billing for the doctor’s consultation fees that can range from RM60 to RM120.  Here is a sample list of costs to each additional vaccination you can get from private family clinics.

Source: Courtesy of  Clinic Iltizam, Ampang

#4. Cut the endless unimportant baby items

From clothes, bedding, diapers, baby bath, baby gear, baby items can feel overwhelming. However, you don’t need to have a big budget to get all of them.

Make a list of what you need for your baby. You can also refer here for the ultimate checklist when expecting, as it focused on needs than wants. Ask for advice from other moms who have gone through this circle countless times and they will surely be able to pick which are ultimate items that baby really needs.

With that list in hand, the most economical option is to ask around for hand-me-downs from family or friends, especially if they are aware of your financial situation. You will be surprised that people are usually more receptive and emphatic towards you and there will be help given in so many unexpected ways.

Another alternative is to buying cheaper is to shop online. One avenue is buying second hand items, also known as preloved items. Consider shopping platforms such as Carousell and Mudah to find used items at reasonable prices. Secondly, it is worth to visit online shopping platforms like Shopee and Lazada to search for any affordable new baby items. Learn to sniff out a good deal by asking questions and making comparisons based on reviews of products, costs and delivery from sellers.

#5. Confinement cost

This is the ultimate recovery period for Malaysian mommies as it is traditionally believed that the care and rest you receive in the first six weeks after delivery can have lasting effects on your long-term health.

When financially challenged, one option is to ask your family and/or friends to help out as caregivers. Make a timetable and identify those who can help you out with the daily chores like bathing the baby, washing clothes, preparing your meal, do some basic house cleaning, and babysitting your other kids while you get your rest during the day. Of course Mr Husband needs to help out too when he can.

Another option to consider for those who have a little budget to spend is to shop around for confinement services that provide daily visits. Packages can start from a minimum of three days. Per day treatment can cost from RM70 to RM200 per day. Use social media to shop and compare prices and services offered to find one that suits you best.

Ideally, you should still make advance preparations for your confinement-suitable meals for at least 30 days of your confinement or check out the confinement food delivery services according to your budget. Knowing you have the right food stuff for your meals and that they can be cooked quickly since preparation has been done in advance will give you and your caregivers peace of mind during your confinement.

Do stock up suitable supplements that can boost your energy and speed up your recovery.

#6. Medical card for baby

Babies from 0 months up to 7 years of age are in high statistics for hospital admission due to common sickness like Rotavirus, bronchitis, Pneumonia, viral fever, Influenza, and many more that may need immediate hospital attention. This can be a big drain in your funds if you don’t put enough money aside. Hence, there is a need to have a medical card, especially if you want the extra comfort and efficiency provided by private hospitals.

Standalone medical cards are often cheaper than the normal investment-linked plans. Affordable options start with as low as RM50 per month starting after 14 to 30 days of your baby’s birth. Do an online search of options offered by reputable insurance companies.  You can save up to 30% from the normal medical card options bought through agents. However, be sure to speak with a Certified Financial Planner to get some useful tips if you are going to do this by yourself to ensure you wisely select the best plan to suit your needs.

#7. Emergency fund for baby

Set aside money in an emergency fund to prepare for any unexpected financial situations in at least the first three years of baby’s life. You may need to dip into this fund for unexpected situations like medical care when your baby falls sick (Tip: Save money by going for government healthcare rather than private clinics).

Start as low as putting aside RM50 to RM100 per month for this fund, continuously. By investing the money rather than just parking it aside, you will be surprised by how soon this amount grows.   There are investment options out there, including roboadvisory platforms such as Stashaway.  Meanwhile, it is also important to save a portion aside as easily accessible cash for when a rainy day comes. Talk to a certified financial planner to know your best options that cater to your family’s needs.

#8. Increase your income

As an expecting mother, one of the more suitable ways to increase your income is to find work that can be done from home.

With the power of the Internet and social media, running an online business from home is possible and can be rewarding. With or without capital, you can start one too. Start by exploring your existing talents e.g cooking, baking, teaching or writing. Find ideas by checking out caringmoms.com which is a business platform for Malaysian mothers who want to contribute to their household income. Find something that interests you and make your business happen. It is trial and error to see if a business fits you. Keep an open mind and be willing to try things despite potential setbacks and you will find what works for you.

Conclusion

With these tips, you will be ready to seize the day and start your planning for a safe yet economical pregnancy, delivery, and confinement. With a well-laid out plan and consistent discipline, you can be financially ready to welcome your little one. Stay motivated, Mom and Dad. You can do this!

You May Also Like

• Can You Afford to Have a Baby?
• Financial Implications of Having a Baby Later in Life
• 8 Things Parents Expecting a Baby Need to Know
• Are You Financially Ready To Be a Stay-At-Home Dad?

How do you prepare to have a baby during tough times? Share with us in the comments section below.