As we celebrate Mother’s Day this month and beyond, it’s important to highlight the financial pressures new mothers may face, especially in a turbulent, unstable economy. According to BabyCenter’s 2025 First-Year Baby Costs Calculator, highlighting commonly used products in the typical amounts parents need during the first 12 months of their baby’s life, first-time mothers can expect to spend upwards of $20K on baby-related costs within their first year. Tierra Bonds, Community Financial Education Specialist at Verity Credit Union and member of the Backbone coalition, believes that new mothers aren’t properly briefed on items for their child, and that these items can become pricey outside of diapers.
“Everyone warns you about diapers. Nobody warns you about the rest. The costs that tend to catch new moms most off guard are the ones nobody puts on the registry — the last-minute copays before your deductible kicks in, the lactation consultant you didn’t plan for, the postpartum therapy sessions that aren’t fully covered. Formula, if breastfeeding doesn’t go as planned, can easily run $150–$200 a month,” she told EBONY. “Breastfeeding has its own costs too — pumps (especially if yours isn’t fully covered by insurance), replacement parts, storage supplies, and nursing bras can add up more than most people expect. Childcare deposits often have to be paid months before you even return to work.”
From formula, nursing pads, infant thermometers, crib and mattress, to clothing, items can easily add up, placing pressure on new moms and their families, especially on single moms. But there are additional costs that aren’t financial, like the silent ones, which include personal, emotional, and career sacrifices, otherwise known as the ‘motherhood penalty.’ According to a recent survey, two-thirds of mothers feel a societal expectation to silence their own physical and emotional suffering during childbirth and focus solely on the outcome of a healthy baby. Bonds also views motherhood as having a career cost.
“Unpaid leave, reduced hours, the career gap — that doesn’t show up in any baby budget calculator but can affect your savings and retirement contributions in ways that take time to recover from. Beyond the costs of caring for your baby, it’s worth asking: what does it cost to take care of you?” she said.
A recent LendingTree study found that annual child-rearing costs have jumped nearly 36% in just two years. That number is real, and it lands hardest on Black mothers who are already navigating wage gaps and less inherited wealth to fall back on, especially those who are part of the 600,000 Black women laid off in recent years.
Jamilah Lemieux, a single mother of 13-year-old Naima and author of Black. Single. Mother knows firsthand the costs of being a mother. “Motherhood is more expensive than ever, like everything else. It’s associated with giving children what we believe they need to succeed, such as attending the best daycare center, a private school, or having tutoring. Motherhood costs women in many ways in terms of time, energy, our health, money, and emotional labor that goes into mothering. There’s so much work that goes into carrying a baby and caring for a newborn, and so motherhood can make it harder for women to advance at work. They’re not always able to do the extra hours. They’re the ones who get called when the child is sick. Mothers are often the primary parent, even if there is a father in the household,” she stated.
To balance out the financial and emotional responsibilities, Lemieux suggests new mothers show themselves a lot of grace. “Give yourself a lot of grace. You’re not going to be a perfect mom. You’re doing the best you can. Give what you can, but you can never give so much of yourself that you don’t have anything left for yourself. I think one of the best things that I did for myself as a mother was not completely abandon myself,” she said.
Here are expert financial tips from Tierra Bonds, Community Financial Education Specialist at Verity Credit Union and member of the Backbone coalition, for new mothers to consider while navigating motherhood for the first time:
How Should Women Financially Prepare Before Giving Birth (Ideally)?
Ideally, you start at least six months out, but life doesn’t always give us that runway, and that’s okay. Wherever you’re starting from, two of the most meaningful moves you can make are building a cash cushion specifically for birth-related expenses and taking a close look at your workplace benefits before the baby arrives.
Please review your health insurance to understand what labor and delivery will cost out of pocket. Check whether your employer offers paid leave, short-term disability, or an FSA you can use for medical costs. If you’re self-employed or don’t have paid leave, it’s worth exploring whether your state has a Paid Family and Medical Leave (PFML) program — these exist in a growing number of states. Still, the key is that you typically have to opt in and contribute before you need the benefit. In Washington state, for example, enrollment starts a waiting period before coverage kicks in, so the earlier you look into it, the better.
It also helps to have an honest conversation with your partner or yourself about who will be returning to work, when, and what childcare will realistically cost in your area. Getting on a waitlist early isn’t just a nice-to-have. In many cities, it’s one of the most time-sensitive things you can do.
What’s a Realistic Starter Budget for a New Mom?
Here are some real numbers to work from in the first year:
Childcare: $800–$2,500/month, depending on your city and type of care.
Diapers + wipes: $80–$100/month
Formula (if applicable): $150–$250/month
Breastfeeding supplies (if applicable): Pumps, replacement parts, storage bags, nursing bras — variable, but worth budgeting $100–$300+ depending on coverage.
Doctor visits + copays: $200–$400 in the first year, more if your baby has any health concerns.
Baby gear, clothing, supplies: $500–$1,500 total (buying secondhand when it’s safe can help stretch this significantly). Beyond the basics, think about what it takes for you to feel okay, supported, and like yourself, and what that actually costs.
Postpartum care, mental health support, and the things that make motherhood feel more balanced, whether that’s a gym membership, a haircut, or time for a hobby, are real costs worth building in. Convenience spending also happens when you’re exhausted and short on time, so give yourself grace there, too. If possible, build a buffer of at least 15–20% on top of your estimate. The goal isn’t to get it perfectly right; it’s to give yourself a little breathing room.
How Should Mothers Approach Emergency Funds After Having a Child?
The Federal Reserve reports that only about 49% of parents with children at home have 3 months of emergency savings. That number is worth sitting with because it reflects the financial pressure new parents are under. Before a baby, three months was a common rule of thumb. After? It’s worth working toward six, because the variables have multiplied. You now have a child who could get sick, need unexpected medical care, or affect your ability to work. Your monthly expenses are higher. Your income may have shifted.
If six months feels out of reach right now, that’s okay. Start smaller and let it build. Even $25 or $50 a week into a separate, labeled savings account (something like “the cushion fund”) builds real momentum over time. Psychology matters here: keeping it separate from your checking makes it feel real and helps protect it from everyday spending. And consider where that money lives; a high-yield savings account or CD means your emergency fund isn’t just sitting there, it’s earning interest while you build it. Progress counts more than perfection.
What are Smart Ways to Handle Childcare Costs Without Derailing Long-Term Savings?
Childcare is often the budget line that puts the most pressure on the rest of the budget. Here are some options worth exploring:
Dependent Care FSA: If your employer offers one, you may be able to set aside up to $5,000 pre-tax for childcare expenses, which can translate to meaningful savings depending on your tax bracket.
Child and Dependent Care Tax Credit: Most working parents are eligible — make sure you claim it when you file.
Creative childcare structures: A nanny shared with another family can reduce costs by 30–40%. Family care — grandparents, aunts, cousins — is also a real economic infrastructure, particularly in Black communities, and it shouldn’t be undervalued. If a family member is providing care, formalizing it with a modest payment can benefit them, too, by providing documented earned income.
The bigger picture here is protecting your long-term financial foundation. If childcare is consuming your entire discretionary budget, retirement contributions, especially any employer match, are often the first thing to go. That match is essentially free money, and once you miss it, you can’t get it back. Finding ways to keep even a small contribution going can make a real difference over time.
How can Moms Balance Saving for Their Child’s Future with Their Own Financial Future?
Here’s something worth holding onto: your financial future is not separate from your child’s. A financially secure mother is one of the most powerful things a child can have. So rather than choosing between yourself and your child, think of it as both/and rather than either/or.
One framework that can help with prioritization: start by capturing any employer 401 (k) match, since that’s an immediate return on your money. From there, build your emergency fund. Then, when you’re ready, explore savings options for your child, from basic savings accounts to 529 college savings plans. There’s no single right path, and what makes sense will depend on your situation.
What matters most isn’t which account you use or whether you start with a big contribution; it’s building the habit. Even $20 a month into a child’s savings account creates something real. Habits compound just like interest does. And the best foundation you can give your child is a financially whole mother, and a savings practice that starts from wherever you are right now.