What’s the best money decision new parents have made for their babies?

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By: sanderspatricia29
on 28th Jan,2017

What’s the best money decision you have made for your baby? Share your thoughts. Find out what other new parents have to say about the best financial decision they made for their baby.
What's the best baby money decision you have made

A baby completes our family. It brings joy to our mundane life and makes our lazy nights eventful with giggles and laughter.

We plan our days and nights on the basis of baby's whims and fancies with a grin. Alright! Alright! Sometimes, we don't endure baby's tantrums with a grin, but you have to agree with the fact that a baby makes our life happening.

I don't have a baby. When I was asked to write an article on this topic, I was completely clueless. So, I called my friends (who already have babies) and asked them what's the best money decision they have made for their babies. Here's what they said,

"Decorated the baby room in a way that would last for 10 years"

Laura Harrison, a content developer, Washington, D.C:

I have grown up in a small apartment. I didn't have a separate room till I turned 18. So, one thing was very clear in my mind, and that is my baby would have a separate room.

I turned our guest room into the baby room. I bought furniture, rugs, lights, and many other things. I looked at several baby room decor ideas and used only those that would allow me to not refurbish it for a long time. I made sure that there were lots of space in the room so that later I could add more furniture as my baby grew up. I chose a neutral color for the walls so that there was no need to change the paint after a few years.

"Bought a second-hand child car seat from a consignment store"

Susan Bewley, a teacher, Arkansas:

Ben and I were very clear from the beginning. We would bring our baby to our home in a new car. Earlier, we were driving a second-hand car since both of us had credit card debts. After we cleared all our debts and bought a car, we decided to have our first baby.

What we forgot is the fact that we have replaced credit card debt with a car loan. So, we had to tread carefully. Plus, baby expenses were there. So, we bought a second-hand child car seat from a consignment store. A new child car seat costs between $70 and $440. We got a used child car seat at $30.

"Borrowed baby apparels and other things from experienced moms"

Barbara Scott, a psychiatrist, New Orleans:

My sister already had 2 kids when Megan (my daughter) arrived in our life. I asked my sister to lend me her used baby clothes, toys, gear, stroller, cribs, sleepers, blankets, etc. Her kids were toddlers when Megan was born. So, I knew she didn't require those items. She happily gave me those baby products, and I saved hundreds of dollars.

"Started shopping 6 months before delivering the baby"

Annie Gettler, HR Manager, Maryland:

Dave (my husband) loves to plan everything in advance. So, after the doctor told us that we were going to be blessed with a baby boy, Dave started shopping baby products in advance. He browsed forums, learned about the best baby products in town, and then started shopping online.

Do you know what's the biggest benefit of doing this? We took advantage of the sale offers and got baby clothes, gears, diapers and many other things at half the price. This helped us to save a lot.

"I started freelancing to save on daycare"

Lisa Phillips, a freelancer, Arizona:

I was working as a content editor at a publishing firm when I conceived. My work schedule was hectic - full of deadlines. My husband was even busier. We had lots of discussions regarding our finances and lack of family support. I decided to take a break and start freelancing since that would give me time to spend with my baby. I resigned after taking a 6 months maternity leave.

Child care cost is too expensive here. A big portion of my paycheck would have gone towards the child care.

Once my maternity leave was over, I started freelancing. I take assignments as per my convenience. Sometimes, I work 25 hours per week and sometimes even more.

This decision has helped me to balance my career and personal life perfectly.

"We created a post-baby budget to exclude discretionary spending"

Miranda Miller, a stay-at-home mom, California:

Unlike most parents, we didn't plan for baby expenses. But, soon after our baby arrived, reality started sinking in. We had to pay $1400 per month for daycare. This is the same amount we paid for mortgage.

We had to do something since our expenses were more than our monthly income. After crunching all the numbers, we found that our expenses would be under control provided we saved $500 per month.

How did we save $500 every month?

We stopped going to expensive restaurants, movie theaters, and gym. We clipped coupons and used them during grocery shopping. Plus, we stopped having our favorite coffee at Starbucks.

Our baby is our top priority. We had to make several lifestyle changes after our baby arrived. But, we aren't complaining.

This is what my friends said about the best baby money decision they made till date. Which one did you like the best? What is the best decision you have made till date for your baby?

Also read:

Planning another baby? Have you considered financial and other aspects?

Budgeting for new mothers: Turn your baby into a blessing for your finances

Extra room in budget for kids' summer activities - Not required!

From husband to dad - How to manage your finances better

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