Babies On A Budget
- Top 10 money-saving tips to provide for your baby’s future
Top 10 money-saving tips to provide for your baby’s future
1) Be realistic.
Before you go on a shopping spree, do your research thoroughly and consult like-minded friends for tips and ideas on what exactly you need before baby arrives. Find out what is useful and what can wait.
2) Prioritise your budget.
Spend your money on safety items like car seats and cots. You can’t put a price on the safety of your child.
3) Cash only.
A good rule of thumb when you are trying to raise a baby on a budget is to always pay cash. If you have cash, you know you can afford it.
4) Accumulate baby items gradually.
There’s a reason why babies arrive in nine months – so you can prepare for the expenses of parenthood! Spread out your spendings evenly throughout the months to avoid huge credit card bills when the baby pops.
5) Borrow or purchase second-hand.
Babies need love, not extravagance. Take advantage of your friends and family who have had babies before you for pre-loved clothes or other baby gear. As long as used items are in good condition, borrowing second-hands items doesn’t mean you love your child any lesser.
6) Buy bulk.
Buy diapers in bulk especially during the first year. Watch out for great deals in your local newspapers. Better still, go green and use cloth diapers, especially if you’re planning to have more than one child. It is more cost-effective in the long term.
7) Save now, wear later.
Buy larger-size clothes on sale for future use. It’s easy to do from birth to one year when you have a good idea that your child will likely fit into that size.
8) Make your own baby food.
All you need is a mini blender to process fruits and veggies. It’s a lot cheaper and healthier than most baby foods found in the supermarket. To reduce grocery bills, plan your meals in advance.
9) Set up a toy exchange.
Toys can be expensive yet short-lived. A toy exchange is a great way to swap some unused toys for something “new” that your little one may enjoy at no cost. Exchange a toy for a toy with other parents in your playgroup. Return and swap again during the next playdate. Everyone wins. Otherwise, rent it at rentatoys.com.
10) Sort out your childcare options.
If you’re returning to work, consider your childcare options so you’re not paying more for care than you’re earning.