How to Afford An Unplanned Pregnancy In College

Facing an unexpected pregnancy during college can feel overwhelming, both emotionally and financially. How do you afford a baby in college, especially when your pregnancy is unexpected? How do you juggle the costs of textbooks, tuition, and dorms with the costs of prenatal care, maternity clothes, and diapers? What do you do if you’re pregnant and simply can’t provide for a child? Let’s look at some of your financial options when going through an unplanned pregnancy on a budget. While it may seem daunting, there are resources and strategies that can help.

Start where you are! Get a clear picture of your current finances.
How much do you have saved? What is your monthly income? What are your regular expenses? Do you have any debt? These are all questions you could easily answer when putting together a budget. If you don’t have a budget already - don’t worry, it’s simpler to make one than you think.

To get started, follow these steps:

1. Add up all your savings.
2. Add up your income for the month.
3. List your current expenses.
4. Sort your expenses into needs vs. wants.
5. Determine which “wants” to cut, and consider whether you’re able to reduce the cost of any needs.
6. Subtract your expenses from your income.
7. Estimate monthly pregnancy-related expenses. Subtract those from your income as well.
8. Make a plan for how to use any money that’s left - saving, investing, paying off debt, covering specific expenses, etc. If you don’t have any money left after covering your expenses, don’t panic yet!
9. Track your income and expenses as you go. Some people use budgeting apps, some prefer spreadsheets, and others just use an old-fashioned notebook. Use whatever is easiest for you! It doesn’t need to be complicated.
10. Make adjustments to your budgeting method as you learn. Don’t stress yourself out about making the perfect budget on the first try. As you practice budgeting, you’ll learn more about what works for you. In the future, you might look into common budgeting approaches, like the 50-30-20 rule or zero-based budgeting. Just remember to review your budget on a regular basis and make adjustments as you go.

After going through this process, you should have a better understanding of your current financial situation.

Factor in an unplanned pregnancy with a pregnancy budget.
Next, factor pregnancy into your budget. It might be intimidating, but this is an important next step! Breaking pregnancy costs down into categories can help make this process more manageable, and help you feel more in control. Here are a few categories to consider when forecasting pregnancy costs:

• Medical expenses. This would include things like prenatal care, hospital costs, insurance premiums or deductibles, medications, and vitamins.
• Maternity items. Clothing, comfort aids, and personal care fall into this category.
• Baby essentials. Furniture, baby gear, clothes, diapers, wipes, feeding supplies (this will depend on whether you’re breastfeeding or not), and bathing supplies.
• Childcare and support. Includes daycare and parenting classes.
• Miscellaneous costs. Transportation, food, emergencies, postpartum care.
• Education and preparation. Books and hospital classes.
• Long-term adjustments. Housing and utilities.

Researching the average costs for each category will get you started. The numbers do not have to be perfect or exact, but just enough to give you an idea of what to expect. If this feels impossible to navigate, call or text our team at 720-386-6009 to find out more about working with an advisor. If you’ve put together your pregnancy budget and covering all these expenses feels daunting, don’t worry, next we’ll talk about where to get financial assistance.

Consider whether to ask parents or family for financial support.
Your parents might be much more accepting and encouraging in this difficult time than you would expect. After all, they love you and want what’s best for you. On the other hand, you may not have parents you feel comfortable being this vulnerable with. It takes a leap of faith to ask your parents for financial help when you’re facing an unexpected pregnancy. You might not want to face their judgement or anger. That’s alright, you still have options.
If you’re not sure whether to ask your parents for help or not, here are a few situations where asking your parents for help might not be the best first step to financial security:

• Your parents are under extreme stress.
• Your parents are financially limited.
• They’ve already set strict financial boundaries.
• They’re emotionally overwhelmed by the news of the pregnancy and need time to let their feelings settle.
• You’re not ready to share a plan for your financial future.
• There are other support systems you could explore first.

If you do want to ask your parents for help, you might consider ways to demonstrate your responsibility and explain how you’ve exhausted your other options.

Get help from charitable and government organizations.
There are many charitable organizations that will help pregnant students take care of themselves, their babies, and their educational goals. The Avi Project helps students afford medical care, tuition, and housing.  Food, clothing, care packages, and other material resources are available as well. Financial assistance is a key part of our proven program designed just for expectant college students. Call or text 720-386-6009 to learn more (it’s confidential and commitment-free). For a detailed list of government programs, scholarships, and other financial aid opportunities, check out our other blog post on Scholarships, Tuition Assistance & Financial Aid for Pregnant Students.

Live frugally and stretch your dollar.
There’s a lot of great advice out there about how to live frugally and make the most of every dollar, but here are a few tips to get you started:

• Take advantage of free meal plans if they’re available at your college.
• Use grocery store apps to get extra coupons and discounts.
• Do meal prep at home instead of eating out.
• For fun, check out free museum days or free passes at the local library.
• Prioritize essential expenses and reduce unnecessary spending.
• Buy second-hand from online marketplaces or thrift stores.
• Join buy-nothing groups to swap or borrow items from neighbors.
• Get a roommate or find another shared housing arrangement.
• Find out which textbooks you have to buy, and which you can borrow from the library.
• Buy textbooks a couple days after class starts to find discounts.
• Learn how to do laundry in the sink or with a portable wash bag.

It can take time to adopt a frugal mindset and build new habits, so focus on making one new lifestyle change each week if it feels overwhelming. Celebrate small wins along the way. Even small changes can have a big impact on your savings, and every adjustment is a step in the right direction.

While you work through this process, don’t be scared to ask for help! Financial support may be top of mind, but emotional support can be just as valuable when navigating a challenge like this. We are available 24/7 to talk through your situation, identify your options, and help you make a plan (720-386-6009). No matter what your support system looks like, you shouldn’t have to go through this alone.