Having a baby changes everything—from your outlook on life, to the time that it takes to get ready and leave the house in the morning, to your financial situation. Of course, most of this you will have to just learn as you go, but figuring out how to live on one income after having a child is something you can figure out ahead of time.

Plan ahead

Even if you haven’t decided if you or your spouse will be staying at home after you have a child, figure out a way to live on one income before that time actually comes. While you adjust to a one-income lifestyle before the baby arrives, you can put the cash from your second income into retirement, buying a home, or other long-term financial goals. Being able to live off one income also gives you the confidence knowing that you can comfortably pay your bills even if one of you loses your job unexpectedly.

Figure out what you can live without

Your current budget may include things that you won’t be able to take advantage of for a while—at least until your little one gets bigger. For instance, do you have a gym membership that you haven’t found the time to use lately? Realistically, finding that time will be even harder with a new baby, so canceling or suspending that membership may be better for the time being. There may be other monthly expenses that you find that you don’t need or are using much less than you had anticipated—services like StitchFix, Amazon Prime, and Netflix—may be able to be cut from your budget. Take a good look at the expense you pay versus the value you receive, and cut accordingly.

In addition to memberships that you may not be using, take a look at household expenses such as home telephone, cell phone plan, internet, and television. Sometimes you are able to downgrade plans or even just take advantage of specials that the company is willing to extend to you.

Do your grocery and household goods shopping online

It may seem counterintuitive to shop online to save money, but the home delivery or curbside pickup service of your local grocery store may actually help you cut down on the impulse buying that can occur when you visit a store. Ordering from an online retailer, such as Boxed or Jet to deliver household goods and grocery items may also be a good option to save you money as well.

Limit eating out

It is almost always less expensive to cook meals at home rather than going out to eat. Even fast food drive-through pit stops can really add up. Start by counting up how many meals you are eating out each week, and how much you spend on those meals. You may be surprised to find that even just eating out for two or three meals at a sit-down restaurant each week costs as much as your groceries for the entire week of eating meals at home. Plan your meals ahead of time so that you know you will have the ingredients on-hand to make the meals that you want. (And pro parenting tip: having a weekly menu can help you cut back on picky eater meltdowns when your baby turns into a toddler.)

Take fewer vacations

This is one area where you can cut down on pretty major expenses after having a baby. If you were used to traveling before having kids, you may want to start out with a night or two away just to see how you and the baby will adjust to being away from home. As a new parent, you have probably noticed how much more involved it is just to pack a bag and take your baby to the grocery store, not to mention trying to pack for several days. The first time you go on a trip, you may learn that your baby doesn’t do well with airplanes, or doesn’t sleep well in hotel rooms. Instead, you may find it easier to take some shorter weekend trips, rather than spending thousands on a big vacation that may not end up being so enjoyable anyways. Vacations are typically large expenses, and of course, we like going on them, but vacations aren’t necessarily a need. If you are trying to make ends meet on just one income, cutting out the big vacations can help accomplish that goal.

Make sure you have an emergency fund

Adjusting to just one income can be a tough transition. Just like any other time in life, you may have unexpected expenses pop up, and you need to plan ahead for that—with an emergency fund. Figuring out how to adjust your expenses and limiting your spending cash may already make you feel a bit squeezed with your monthly budget. So, if your hot water heater breaks or the refrigerator decides to quit working, you want to have enough money set aside to comfortably take care of those expenses without throwing your new budget into a tailspin.

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