Table of Contents
Having a baby is about the most adult thing you’ll ever do. It’s wildly rewarding, even if it doesn’t feel that way when they’ve redecorated the kitchen in puréed carrots five minutes after you mopped it.
They’re also expensive. According to The Irish Times, your baby’s first year can set you back around €4,170 (before childcare). Most of it disappears on formula, food and nappies. If you’re having twins, double it — speaking from experience.
We had twins and a toddler. Cue a 7-seater upgrade. Back then there weren’t many cars with three ISOFIX points. IYKYK.
Some employers top up your pay, so check with HR. If you’re both off, that’s roughly €1,450 per month between you — less income and more expenses, so plan ahead.
It’s €150 per month per child (€225 each for twins).
Apply within 12 months of birth, either online or via the forms provided by your maternity hospital.
There’s also a €280 Newborn Baby Grant for children born on or after 1 December 2024, paid with your first Child Benefit payment.
This usually lands on the first Tuesday of each month and can be a welcome help with those early baby expenses.
Ring your TV, broadband or utility providers and tell them you’re thinking of switching. It’s amazing how often a retention offer suddenly appears.
Every euro helps when you’re buying baby wipes by the pallet.
And honestly, cancel Netflix for a while. Your new show is called In the Night Garden.
If you have private health insurance, see what it actually covers for pregnancy and birth.
Some plans offer private rooms or additional consultations but carry a 52-week waiting period.
If you’re already pregnant, switching now won’t help for this pregnancy, but it’s worth reviewing your cover for the future.
You don’t need to become a financial planner overnight, but now is a sensible time to think about how your household would cope if income stopped.
No hard sell. Just get the basics sorted so you’re not depending on luck and Child Benefit alone.
Open a simple credit union or bank savings account once your baby has a PPS number.
Even €20 a month can build a useful buffer for uniforms, school trips and other costs down the line.
If you’re expecting, or already in the eye of the storm, getting the admin sorted now will make life a lot easier later.
If you want help with the protection side of things, complete this short questionnaire and I’ll send you a straightforward recommendation by email.
No sales chat required.
Chat soon,
Nick
Editor’s note: First published 2019 | Refreshed October 2025 with updated leave rates, benefit information and links to our Parents & Family guides.
Written by Nick McGowan, QFA RPA APA
Nick is a qualified financial advisor and founder of Lion.ie, a multi-agency Irish life insurance and income protection brokerage based in Tullamore. He’s been helping people secure fair, transparent cover for over 15 years and was named Protection Broker of the Year 2022.
If you’d like straight answers without the sales pitch, learn more about Nick here.
As Ireland's leading life insurance broker, we specialise in comparing the rates and policies from the top five Irish life insurance providers and offering the very best value quotes to suit the individual needs of our clients. Our expertise lies in finding a suitable insurance plan for those with specific needs, be it a particular illness, occupation or claim history, we've got you covered in every sense!
Watch our video
