Becoming a new parent comes with all sorts of responsibilities. Since you are responsible for another being now, a lot needs to change and your spending habits is one of them. That’s why many new parents are looking for ways to save money.
Ideally, you will need $7,000 to $14,000 annually for your little one. It’s time to get savvier if you want to give the best to your child. Here are ways you can cut unnecessary expenses and save more money for your beloved child:
1: Resist the Urge to Buy Newborn Clothes
I hear you, newborn baby clothes are as irresistible as the Christmas movies on the Hallmark Channel. But you need much of them.
Your baby is going to grow every single day. Buying too many newborn sizes means after a few months, these clothes will become useless. The right approach is to buy clothes in 9 to 12 months more.
2: Keep the Price Tags On
It’s a great piece of advice not to remove price tags from the items you received on your baby shower. In fact, open those items as you need them once the baby arrives. Figure out what works for you and what you need don’t need. Return the unused items and buy something useful in exchange. This decision will save you loads of money.
3: No Need to Move to a Bigger Apartment
Moving to a bigger apartment is a huge expense especially when the baby is on the way. But the thing is you need to move to a two-bedroom apartment at least for a year or so. Get a crib though to be sure your baby gets his or her own personal space to sleep. Upgrade your apartment when your baby turns two.
4: Skip the Nursing Mom Wardrobe
It’s great that you have planned to breastfeed. This doesn’t mean you need to invest in nursing clothes. Tank tops, shirts with buttons, and zip-up hoodies will do the job. You don’t need a nursing cover either. Use a scarf instead.
5: Borrow a Breast Pump
An electric pump can be really expensive. If you know someone who had a baby a year ago and they have a breast pump they can share, go for it. The plastic attachments can be bought separately as they shouldn’t be shared. It wouldn’t be as expensive as buying a whole breast pump.
6: Lose the Baby Shoes
Your infant doesn’t need footwear! Also, babies learn to walk barefoot indoors. All you need is soft booties to keep their feet warm.
7: Create a Personal Budget
Every household has a budget. If you weren’t budgeting before, you should start now. Download an app or simply use an excel spreadsheet. List down your monthly expenses and your income. Identify the spending areas in which you can save.
If you spend too much money on takeout food, start cooking at home. Similarly, if you spend too much on the latest tech or fashion accessories, change your spending habits. Creating a personal budget will tell whether you can shop frivolously or not.
8: Take Advantage of Sales
Baby items can be expensive. Before the delivery, you will have enough time to shop for clothes and other necessary items. Save some bucks and take advantage of the flash sales.
9: Don’t Buy a Baby Bathtub
A baby bathtub is only useful during the early period of the baby’s life. But you can totally avoid this expense by giving your baby a bath in a clean sink with the right support. Hear what other parents have to save. Most of them use it for their first child and by the time the second baby arrives, they don’t use it all. Why? Because it’s much easier to hold the baby and use a normal tub.
10: No Need for a Diaper Bag
You don’t need a special diaper bag either. A plain backpack from a department store would do the work. It’s much easier to carry than a diaper bag.
Diaper bags are just like normal bags except that they have a baby-themed artwork and a higher price tag. Another reason why using a backpack is a better idea is once your baby outgrows the need for a diaper bag, you can use it as a normal backpack.
11: Don’t Buy an Ear Thermometer
Ear thermometers are inaccurate. Plus, they are expensive compared to an oral thermometer. Therefore, get a traditional thermometer instead.
12: Talk to Other Parents
I am sure you are getting many unnecessary pieces of advice already. But, talking to other parents does actually help. They can help you identify local resources and give useful suggestions as well. Just like it’s asking your neighbors which Internet providers are best in town before moving into a new house. This can save you a lot of legwork. The key is reaching out to the right people for advice.
With careful planning and some lifestyle changes, you can easily afford a new member.