Having a baby can be one of the most joyous occasions for new parents, but it can also be one of the most costly things you do. If you’re worried about going broke when you have your baby, there are a few things you can do to help keep costs down and ensure you are prepared. Below, you’ll find some pointers that can help you:
Open A Baby Savings Account
If you haven’t had your baby yet, open baby savings account to prepare for all of the things you’ll need to buy when they are born. Of course, it’s never too late to open a savings account for them, but the sooner you do it, the better. You’ll have many things to buy, and you might only realize you need certain items once the baby has arrived. Just a few of the things you’ll need to buy include:
- A crib
- A stroller
- A car seat
- A changing table
- Formula/food jars
- Decorations for their room
- Baby monitors
- A breast pump
- Burp cloths
- Nursing bras
- A nursing pillow
The above is not an exclusive list, either. Many more items will likely crop up along the way.
Come Up With A Suitable Budget
Come up with a budget now so you can allocate funds to essentials like food and bills and know exactly how much you have leftover for baby-related items. The sooner you come up with a budget, the more prepared you’ll be.
Buy Second Hand
Don’t worry about buying brand new items. Second-hand items are better for your purse and better for the environment. You may not want to buy second-hand clothes, but there are many second-hand items you could buy. For example:
- Car Seats
- Mains powered electrical items
- A high chair
All you need to do is ensure the items are in good condition and safe to use.
Think Long Term
Make sure you consider the long term. When it comes to things like walkers, clothes, and toys you do not need to buy expensive things. It will be more important to invest in things that you will use in the long term, such as a stroller and car seat. If you do have some money, perhaps from family members or even a baby grant, then you will want to look at these items.
Breastfeeding is thought to be better for your baby and can help to save you some money. Many experts recommend breastfeeding your baby up until the age of 1 year old. However, not everybody can breastfeed, for a variety of reasons. If you can’t, then buying a good brand of formula like Tastyganics will ensure your baby gets the nutrients they need while they are growing.
Get Some High-Quality Reusable Diapers
If you use regular diapers, you will likely spend a few thousand on them alone before your baby is potty trained. Investing in some high-quality reusable diapers might seem steep at first, but over time, you’ll save money. It’s so much better for the environment, too!
Shop Generic/Budget Brands
Don’t be afraid to start buying generic or budget brands instead of the brands you usually buy. Many of these brands are great and you will barely notice the difference. Start making small swaps now and see how you feel. You could save a fortune on your food shopping alone when you stop caring about buying brand names!
Meal prepping will ensure you’re not wasting money on food that you won’t eat. It’s also important to note that a lot of the food you eat, your baby can eat when they get a little older. This means you can prepare food for both of you in advance and avoid spending a fortune. This is also a smart idea as you will be able to freeze meals and grab something when you are short on time.
Buy Items Without The Word ‘Baby’ In The Title
You don’t always need to buy a ‘baby’ changing table, or a diaper disposal system. As soon as an item is marketed to new parents the price shoots up. Instead, purchase an IKEA table and use that, and even regular garbage can dispose of diapers. It will likely make no difference to your quality of life but will help you to save a lot of money. If you buy second hand, just avoid items that may contain lead paint.
Do you have tips to add? Leave them below!