HACKS: How to save money when preparing for a baby

Save money

The average price of baby’s first year is estimated to be over $12,000. New parents can expect to spend a minimum of $50 a week on necessities, such as diapers, wipes, formula, and baby food. This doesn’t even include the larger ticket items, such as a stroller, car seats, clothes, or toys. When you really start to add up the cost of everything, you realize just how expensive a child can be, especially if it’s your first. As overwhelming as this may seem, there are several ways to save money in the nine months leading up to the birth.

Throw a Baby Shower 

Baby showers are typically planned and hosted by a close friend, although they may also be planned by in-laws or other close family members. Since gifts are typically given at a baby shower, inviting lots of people will help you stock up on useful items. You shouldn’t expect to get lots of expensive items, but even a few packs of diapers and wipes will help you save some cash after the baby is born.

Compare Prices on Everything

We live in a digital age where comparing prices is easy. If you’re shopping online, there are add-ons to your browser that will tell you if you’re not getting the best deal. The same is true with phone apps when you’re shopping in person. Don’t just compare the prices on baby products though, you should also compare the price on hospital and medical expenses. Since a baby requires multiple checkups from the time it’s conceived until well after it’s born, saving even $20 can add up quickly overtime.

Only Buy what You Need 

As you transition from woman to mother, it can be hard to know what exactly your baby needs. It can be extremely tempting to buy anything and everything you see, because, after all, who doesn’t want to give their child everything? The truth, however, is that a baby isn’t going to use that much at first. Babies are pretty simple until they start moving around. A crib, baby monitor, swing, car seat and stroller are the five main products to focus on. Any extra money can be spent on the smaller items, such as bottles or food. 

Shop Smart 

There are dozens of types of everything when it comes to parenting. The perfect example of this is bottles. Sure, you know you need one, but do you get glass? Plastic? The kind with the removable liners? With so many options, it can get overwhelming. Thankfully, with the help of the internet, there are many sites that list the top ten products along with reviews from those who have bought them. It’s always smart to check these sites, as they offer truthful reviews so you don’t end up buying a faulty product and wasting money. 

Plan For Maternity Leave 

Finally, your baby is born, but now what? If you have a job that doesn’t offer paid maternity leave, be sure to set some money aside for this. It’s hard enough transitioning into parenthood, you don’t want to be doing it without a paycheck too.

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