Budgeting for baby Jane Kemp So you're pregnant. Now's a good time to take a close look at your financial situation and plan ahead. These simple steps are designed to help you manage your budget.

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How much do you spend? Review your credit cards

Know your rights Be a smart saver

Plan your finances together

Write down everything you spend each month. Make a point of keeping receipts so you have a really clear idea of where your money’s going, and include all the regular outgoings such as council tax, gas, electricity and phone bills. Divide annual bills by 12, and quarterly bills by three, before adding them to your list.

See if there are any obvious areas where you could make savings in the long term.

Take a close look at your bank statements. Make sure all your standing orders and direct debits are correct and up-to-date.

It's easy to spend too much when you have lots of different credit or store cards, and interest rates, particularly on store cards, are often very high. It may make sense to take out a single personal loan at a better rate of interest and pay off your cards with a manageable monthly payment.

Generally speaking, the longer it takes you to pay the loan, the more you'll pay in interest. If you have savings, it might be better to use the money to pay off any outstanding debts.

Bills, bills, bills

• How do you pay your bills? Paying by direct debit means you may get a discount on your quarterly bills.
• Check your mortgage, if you have one. Are you paying higher interest rates than you need to? Ask if your lender would be prepared to give you a 'baby break' from your payments for a few months.
• Make the most of generous relatives.It can be hard to find the cash for big items for a baby, so if family or friends offer to buy you presents ask if they would mind clubbing together to buy something like a pram or cot, rather than buying lots of teddies.

Make sure you're getting all the benefits you're entitled to. For example, you may be entitled to milk tokens if you're receiving benefits, or you may be eligible for a Sure Start Maternity Grant.

Discuss maternity leave details with your employer if you work, so that you can calculate how much time you can afford to take off.

Start putting some money aside. Even a few pounds a month between now and the baby's birth will be useful. You could also spread the cost by buying one item for your baby each month to avoid a big shopping splurge after the birth.

The Financial Services Authority, a Government watchdog, publishes a lot of information on how to mange your finances and protect your rights. You can contact its consumer helpline on 0845 606 1234.

What your baby needs most is your love and care, not pots of money. But remember, money is one of the major causes of rows between couples so it's important to keep talking to your partner about your concerns, and to plan your finances together.

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