As most of us already know, having a baby can put a serious dent in your wallet! Between healthcare costs, medical expenses and essentials for your baby, there can be little to no disposable income left over at the end of the month. So how do you manage to give your baby everything he or she needs without breaking the bank? Here are some tips that I found extremely helpful!
1.) Accept and Ask For Hand-Me-Downs
As one of the last of my friends to have children, my mommy girlfriends were all too happy to part with baby clothes and gear they no longer needed. This mutually-beneficial arrangement allowed them to clear up some much-needed storage space while helping me avoid paying for a number of items, most of which the baby would only need for 1-3 months anyway (since a baby’s needs vary so much by their ever-changing stages and are most items are quickly outdated).
2.) Breastfeed
In addition to providing optimal nutrition for your baby, breastfeeding is also extremely cost-effective since it eliminates the need to constantly restock formula, bottles, disinfecting and warming devices, etc. Granted, not everyone might be lucky enough to produce enough milk, or for other reasons, the baby may not be able to breastfeed, but if you can, nursing is a great way to cut back on baby rearing expenses!!
3.) Invest in Fewer Baby Clothes
Most new moms especially are easily enticed into buying “adorable” outfits for their little ones. But before you break the bank setting out to doll up your baby from head to toe, consider how quickly they will outgrow those designer newborn onesies - most of which might only be worn a few times at most. When you start retiring outfits faster than it took to purchase them, you quickly realize the time and money wasted.
4.) Skip the Designer Stroller
As a new mom, I had no idea how pricey some strollers could be until a friend offered to sell me her $900 stroller for half the price. Can you say “sticker shock!” The fact that she only used it for barely a year and already needed to update to another style to accommodate her second baby on the way, made me realize that an expensive stroller might not be the best investment. Instead I opted for a budget-friendly ‘travel system.’ Considering I’ll already need to update the car seat portion in a few months, I’m glad I didn’t overspend on this purchase.
5.) Don’t’ Be Afraid to Go Generic
Wanting the very best for your baby is only natural. However, as an aunt to three teenagers, I’m fully aware that there will eventually come a time when they will ask for and appreciate brand name items. Until then, your baby won’t mind if you’re not buying the premium diapers, wipes or other products, so enjoy that freedom to consciously budget while you still can!
New Moms: Baby On A Budget
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