Free Money Date template
Money Date: New Baby Finances
A guided 20-minute conversation for couples expecting their first child. Seven steps. Specific to the financial reality of becoming parents.
By The DuetWallet Team · Last updated May 26, 2026
Why this conversation matters
A first child is the single biggest financial transition most couples ever experience. The numbers change. The values change. The conversation has to keep up.
$17,800
average cost of a baby's first year (USDA, 2024)
8 weeks
average US partner parental leave (BLS, 2025)
62%
of couples report increased money tension in the first year
Pew Research
The 7 conversation prompts
Set 20 minutes. Make tea. Let's start.
What are we afraid to ask each other about money right now?
Name the silent fears first. They always come up later anyway.
Things to consider
- Birth and pre-natal costs
- Lost or reduced income during leave
- The unknowns we haven't priced
What does our first-year budget actually look like?
Not the Google-search version. The real one for us.
Things to consider
- Insurance + co-pays + delivery cost
- Daycare or in-home care
- Gear (one-time) + diapers + formula (recurring)
- Healthcare for baby beyond the first month
Who's working, how much, when?
Be specific about leave length, return-to-work dates, and what changes after that.
Things to consider
- Each partner's leave (paid + unpaid)
- Reduced hours or schedule changes
- Long-term career impact for either partner
Where will the money come from?
Savings, family, credit, side income: be honest about each lever.
Things to consider
- Existing savings runway
- Family contributions (and the strings)
- Credit lines (last resort)
- Side income or pre-baby overtime
What are we willing to cut, and what are we not?
Therapists for the relationship. Date nights. Subscriptions. Vacations. Some of these have higher value than they look like on paper.
Things to consider
- Subscriptions you can pause
- Date night frequency (don't cut entirely)
- Couples counseling (often the worst thing to cut)
- Travel and big experiences
What's our emergency plan if income drops?
If one of us loses a job, what's our six-month plan?
Things to consider
- Emergency fund target
- Insurance coverage gaps
- Family backup plan
- Lowest-acceptable-baseline expenses
What's our 'win' moment we'll celebrate together?
Name something six months out we'll celebrate hitting financially.
Things to consider
- Crossing a savings threshold
- Returning to a normal cash flow
- Paying off a specific debt
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