Money Dilemma: How Do We Handle Money as New Parents?
Aug 08, 2025
To: Molly
Subject: Money Dilemma
Hi Molly
I’m reaching out because I’m about to step into a brand new chapter – my partner and I are expecting our first baby.
As a freelancer, I’ll be eligible for Centrelink, but my income will definitely take a hit. My husband will become the main breadwinner for a while, and I know we need to have an honest conversation about how we’ll manage our money – how we’ll share, what access I’ll have, and how we’ll make decisions as a team.
I’m feeling a bit unsure about how to bring this up. I want it to feel fair and supportive… not transactional or awkward.
Have you (or anyone in your community) navigated this? I'd love to hear how others have approached it, especially when one partner is stepping back from paid work to care for a baby.
Thank you so much 💛
Molly's Response:
My thoughts would be:
👉 She needs to set up a regular conversation with her partner about money and how they're going to handle finances going forward.
There’s a huge power shift when you go from earning money to not earning money, especially if you're used to being independent or contributing financially. And it can bring up all kinds of emotions: guilt, stress, even resentment if things aren't clear or feel unfair.
Some practical things I’d suggest: 💡 Have a shared account for household and baby expenses that both partners can access, so she’s not needing to “ask” for money.
💡 Create a “baby fund” together for nappies, medical costs, clothes, etc.
💡 Talk about what financial support looks like during mat leave, to weekly transfers? Card access?
💡 And most importantly, check in regularly - not just about spending, but how you're both feeling about the money dynamic.
