There’s no getting around the fact that parenthood, while an exciting and life-affirming venture, can also be an expensive time of your life. There’s so much stuff to buy, and little of it is “optional”; you need these things. Still, bringing a child into the world doesn’t have to kill your savings account. There are plenty of ways in which you can cut corners and make savings, and these will make a big difference to your overall bank balance. Below, we take a look at ten money-saving tips for new parents that’ll make raising your child a little more financially manageable.
10 Money-Saving Tips For New Parents
What Can You Borrow?
You’re unlikely to be the first person in your family or friend group to have a baby. Friends, cousins, siblings; they’ll have been there before, and they’ll have a war chest of baby clothes and items to prove it. Instead of buying everything new, why not see what these connections are willing to donate to you? You might find that you have access to all of the baby clothes and toys you could ever need, without spending a penny. Once your baby has outgrown them, you’ll be able to pass them on to another set of parents in need.
Forget The Designer Clothes
There’s a whole world of clothing options for babies now. Take a look at some stores, and you wouldn’t only think that the clothes your baby are wearing are important; but that it’s the MOST important thing. While it would be nice to don your baby in the best clothes available, are they worth the cost? If you have to stretch your budget just to buy them, then the answer is unequivocally no. Instead, focus on what’s practical; it’s all the same to your little boy or girl anyway.
See What You’re Entitled To
You might not realize this, but there are likely to be plenty of free services that you’re entitled to use. There could be special days for mothers/babies, free health checks, advice, and so on. Also, when it comes to entertainment, make sure to check your local guide. Most areas host plenty of free events for parents and babies, including singalongs, educational days, and so on. If they’re free and you’re available, then you may as well make the most of them!
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Wait for the Gifts
You’ll want to have everything ready for your baby before they’re born, but you might want to hold fire on some of the items that aren’t essential. Why? Because when the baby is born, you’re going to find that you’re inundated with gifts, from baby clothes to luxuries and more. So before splashing your cash on every baby item under the sun, it’s worth waiting to see what gifts your friends and family have in store. If they don’t arrive, then no worries, you can just buy the item yourself.
A little bit of intelligence goes a long way when it comes to buying for your baby. Because they are, of course, always growing, then it’s best to buy items that won’t need to be replaced every time your child grows an extra few inches. If you don’t, then you’ll forever be in and out of the baby shops! For example, take your baby seat. Instead of buying a new one for every stage of their development, you can buy an “all-in-one” seat that you can alter depending on your child’s size. For more information, check out this useful guide from www.theburpcloth.com. There are also bassinets that can transform into a changing table and then, when your baby is older, into a child’s desk. When you’re investing in the big stuff, make sure it’ll stand the test of time.
Buy In Bulk
There’s a lot of stuff that you’re going to be using on a day-to-day basis. Those diapers will be flying out of your cupboard, as will your baby food supplies. If you have space in the home, then take a look at buying your everyday products in bulk. You might feel a little ridiculous owning so much baby food, but it’s a mightily effective way of saving money!
Taking Advantage of Offers
There are offers on baby products all the time. The problem is that it’s seldom the product that you need that’s on offer. But just because you don’t need it now, that doesn’t mean you won’t need it sometime in the future. If you see a great offer on a product that you know you’ll need in the coming months, then go ahead and buy it. If you don’t, you’ll only kick yourself when the moment comes around, and you have to pay full price.
Avoid the Baby Splurges
Now, we know your baby is cute, and you want to spoil them rotten at every opportunity you get. The problem is that these opportunities will arise every few days, and if you can’t control yourself, you’ll quickly rack up a pretty big splurge bill (not to mention a house that’s overflowing with clutter…). Before buying something cute for your child, take a step back and ask if it’s really the wisest of decisions. It might sound like a buzz kill, but, spread over a year, this could save you hundreds of dollars. Really!
Tired and Hungry Adults
It’s not just your baby that’s going to be tired and hungry. You are, too! And more or less all the time. The temptation will be to have your favorite take away restaurant on speed dial, but, alas, this can seriously eat into your monthly budget. Instead, fill your freezer with frozen food. On those nights when you really don’t want to cook, you’ll have something there to stop you from call-up for another pizza.
And finally, don’t discount second-hand shops. They’re a great place to buy things like baby clothes, books, and toys. They’ll all be in good condition, and they’ll cost a fraction of what you’d spend if you bought them new in store.
These are the money-saving tips for new parents that helped me tremendously when I had my first son, and continued to help me after having my other two. I hope they help you too!