Like so many things in parenthood, there is no one-size-fits-all answer to this question. The amount of money you should save, before you have a baby, depends on each family’s unique financial situation. To get some clarity on financial planning for your baby, work on a budget and set up a meeting with a financial advisor at your bank. You can also talk to friends or family members with children about the expenses they cover as parents to get a sense of what you can expect.