It is needless to say the amount of joy the couples feel when they expect their first child to be born. However, having a baby costs a lot of money, too. So, you need to take out time and plan your finances such that you can have a baby without jeopardizing your budget.
- Plan a new budget which you will be able to follow – This is the first thing you need to do when you, as a couple, come to know about the new member to arrive in your life. You have to make room in your budget for the delivery and your baby’s first year. You can take help of free baby budget calculators’ available online to plan a realistic budget. It is better to start creating a separate baby savings account early and putting a substantial amount into it every month.
- Buy in bulk and wait for purchasing items for less – Instead of shopping impulsively, plan ahead, make a list of the items you need to purchase and wait for any upcoming sales. It is better to compare prices and then shop for an item; it may be offered at relatively less cost at any other store or online. Also, buy items such as, wipes, diapers, etc. in bulk from stores or online in order to save money.
- Do not start purchasing item too soon – You can begin your search for the baby items at relatively cheaper rate but don’t start purchasing too soon. It is sometimes really hard to stop yourself from shopping for items when you’re excited to welcome the new member, but if you do so, you might end up buying duplicate items or ones you may not need.
- Borrow from your friends and family – The babies outgrow fast and your friend and family members may have certain items which they’ll not require in future, anymore. So, don’t hesitate asking from your family and friends to pass on their child’s used toys, clothes, etc. which they won’t need.
- Make baby food at home instead of buying – Is it not better to make your baby’s food on your own at home? When your baby is around four months and start eating solid food, consult with his/her pediatrician and make food in large quantities at home and refrigerate. In this way, you can save both time and money, and also you won’t have to waste on shopping for baby food. You can enjoy this time with your baby and be sure that you’re giving the right nutritious food to the little one.
You can also buy baby items from consignment stores. These stores sometimes sell even new toys, clothing, gears, etc. at remarkably less price. It is worth buying baby clothes since they outgrow things fast. You can even buy toys and gears from garage sale. However, while buying from garage sales or borrowing from your family and friends, be careful of potential safety hazard and clean the items thoroughly before giving it to your baby.