Diana Kelly Levey

The Biggest Financial Lessons I Learned From Having a Baby During COVID-19

A baby hand holding an adult's hand

August 1, 2021 | Categories: ,

If you became a new mom like I did this year, you were thrust into a huge life change amid circumstances that no parenting book could’ve prepared you for, from heightened health worries and social isolation to financial struggles. Finances often play a big part in how “secure” we feel as parents, while also influencing our mental health and livelihood. In 2020, I learned a lot about myself, my son, my marriage and my community—and how to effectively manage our money in particularly stressful times. While I didn’t experience many of the more pressing financial issues that others did, I still discovered a lot about saving, spending and splurging during this crazy year. Here are my top five takeaways.

What Having a Baby During COVID-19 Taught Me About Money

1. There’s Never Been a More Important Time to Have Savings

Since I run my own freelance writing business, I worked extra hours last year to save up for my maternity leave. Growing up in a lower middle class family from Philadelphia, I was taught at a young age the importance of sticking to a budget and saving, so this wasn’t much of a behavior change. But after giving birth in January, I’m so thankful that I still had a nice chunk of savings in place when the pandemic hit. This nest egg made me feel more secure when I wasn’t taking on as many freelance assignments (as a sleep-deprived mom, I was already strapped for energy and brainpower). It can be hard enough to cover expenses let alone save extra on top of that, but if this pandemic has taught me anything, it’s that saving for an emergency fund is absolutely worth the peace of mind.

2. Don’t Put Off Talking About the Difficult Stuff

After having a baby, my husband and I started to discuss topics like life insurance, our will and what we want our child’s future to look like should something happen to us. And with significant death tolls often reported in the news, COVID-19 pushed these big decisions to the forefront. My husband is an essential worker in a dangerous job, so frankly, his mortality is probably more on both of our minds than the average couple in their 30s. But it’s so important to talk about these things now while we’re still young and healthy. As the primary caregiver right now, I wouldn’t want my husband to have to spend most of his earnings on childcare should something happen to me. We’ve definitely learned that there’s no time like the present to have these big life talks.

3. Reprioritize Spending Where It Matters

One money concern I had before having a baby was whether my husband and I would be able to afford a regular date night, knowing it would involve shelling out for a babysitter too. Since lockdown eliminated any concerns about going out, we instead spent money once a week ordering food from local restaurants. It gave us a break from cooking and felt nice to support neighborhood businesses during tough times. (Related: How I Freelance and Work from Home with a Baby)

I also discovered that spending a little more for express shipping can be worth it when you consider how it saves you time, frustration…and the need to leave the house. (Shout-out to the essential employees working in potentially dangerous conditions so I could have things delivered to my door while home with a newborn!) Before COVID-19, I thought running errands with the baby would be a good excuse to get out of the house, but that was the last thing I wanted to do during the height of the pandemic. The ease of shopping online probably caused me to spend more than I would have otherwise if I had to shop in-store, but it was a big help at a time when leaving the house felt dangerous and my husband was gone a lot for work.

Motherhood definitely isn’t what I prepared for in many ways, and experiencing it during this crazy year created even more challenges than anyone could have anticipated. But I’m proud of how far I (and all of us!) have come. At the very least, I’m practicing going with the flow more than ever before.

Read the full article on The Bump.

Leave a Reply

Your email address will not be published. Required fields are marked *

Work With Me

Diana can help with:

  • Writing articles
  • Freelance writing coaching
  • Content marketing writing
  • Copywriting
  • Editing
  • Reporting
  • Magazine writing
  • Magazine editing
  • Website writing
  • SEO writing and strategy
  • Branded content
  • Whitepapers
  • Syndication strategy
  • Launching editorial websites
  • Audience development
  • Blogging
  • Ghostwriting
  • Social media strategy
  • Book projects
  • Creating freelance writing online courses

Email Diana about opportunities: Diana(at)DianaKelly.com.