Top Expenses First-Time Parents Should Prepare For

Becoming a parent is one of life’s most meaningful milestones — and one of the most financially demanding. For first-time parents in the Philippines, the joy of welcoming a baby is quickly followed by a series of new and significant expenses. Whether you're already expecting or just planning ahead, it helps to know what lies ahead and be financially prepared on how to manage it smartly.

This grounded, no-fluff guide breaks down the actual costs first-time parents should prepare for — from hospital bills to newborn essentials — and how tools like credit cards or personal loans can offer a lifeline when used wisely.

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Even with PhilHealth or HMO coverage, the actual medical cost of giving birth in the Philippines can be steep — especially at a private hospital compared to public facilities like the Philippine General Hospital or your nearby lying-in clinics and birthing centers.

Tip: Some hospitals like Makati Medical Center and St. Luke’s Medical Center accept credit card installment plans on your final bill. If your HMO doesn’t cover everything or you need to cover emergency medical expenses, a personal loan with lower interest can bridge the gap. Learn more about PhilHealth maternity coverage.

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After the baby's arrival, the spending continues. Here’s what your baby shopping list may look like:

• One-time purchases: crib, stroller, car seat, sterilizer, baby cabinets, baby bedding — ₱20,000 to ₱50,000
• Monthly essentials: formula milk, diapers (cloth or disposable), baby wipes, toiletries — ₱4,000 to ₱10,000/month
• Optional gear: breast pump, bottle warmers, swaddles — ₱5,000 to ₱15,000
• Baby clothes: often overlooked but needed in all sizes — ₱1,500 to ₱3,000/month

Tip: Save money by accepting hand-me-downs from family and friends. You can also reduce newborn costs by using cloth diapers or preparing own baby food at home as they grow.

For big-ticket items, consider buy-now-pay-later (BNPL) options or use credit cards that offer grocery or retail rewards to offset recurring expenses.

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Your baby’s first year includes a strict immunization schedule and frequent checkups. While public clinics offer free vaccines, many parents prefer the speed and comfort of private care when it comes to newborn expenses.

• Vaccination packages in private clinics: ₱25,000 to ₱40,000/year
• Pediatric ER visits and medication: ₱1,000–₱5,000 per visit
• Health cards or baby health insurance: prices vary but can offer peace of mind

Tip: Set aside a small emergency fund for health-related surprises. If that’s not possible, a personal loan can cover high pediatric care costs while letting you spread the payments. For a list of free vaccines, check Department of Health’s EPI.

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Not all expenses involve buying things — some impact your income directly.

• Yaya or nanny: ₱6,000 to ₱12,000/month depending on experience and location
• Daycare centers: Rare and often expensive in Metro Manila
• Lost income: Not all employers offer full maternity or paternity leave beyond legal requirements
• SSS maternity benefits: May not fully cover expenses; delays are common

Tip: If one parent becomes a stay-at-home parent, be ready for budget restructuring. A short-term personal loan can provide flexibility as you adjust to life on a single income.

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Raising a baby in the Philippines goes beyond the basics. You'll also want to prepare for:

• First birthday parties — ₱20,000 to ₱60,000 (yes, really!)
• Starting an education fund early (via savings or investments)
• Growing your emergency fund as your family expands

Tip: Use credit cards strategically for milestone purchases (and pay them off fast to avoid interest). For lump-sum needs like tuition or home adjustments, a personal loan with fixed monthly payments may be more manageable.

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Financial tools are just that — tools. Used right, they can support you during life’s most expensive and rewarding season.

• Credit cards are best for predictable, repayable expenses like groceries, baby gear, or medicine — especially if they offer cashback or rewards.
• Personal loans make sense for lump-sum medical expenses, baby-proofing your home, or covering income gaps during parental leave.
• Always know your credit standing before applying. Platforms like Finmerkado let you compare your best credit card or loan options — all in one place, for free.

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Having a child is a beautiful new beginning — but it’s also a time of significant expenses. The more you understand the potential costs, the more confident you’ll feel navigating them.

By planning early, being mindful of where your money goes, and using financial tools responsibly, you can focus less on worrying — and more on welcoming your new baby with open arms (and a ready wallet).

External References

1. PhilHealth Maternity Benefits – BabyMama
2. Expanded Program on Immunization – Department of Health
3. What Vaccines Your Child Needs – American Academy of Pediatrics
4. SSS Maternity Benefits Guide – SSS

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