Babies are expensive! Things generally go much better if you prepare ahead of time. Review your current budget and create a new one estimating costs of new baby expenses.
If you decide to stay home and you have been a two-income family, switching to one income can be challenging. You will need to adjust your lifestyle and budget. Be prepared for conflicts that less money may create. You and your spouse need to review the family's finances together and decide what to do. You might want to try living on a single income before your baby is born.
To help manage expenses, here are some things to think about: