Budgeting a baby is probably the reason why most people wait to have kids. It’s got to fit in the budget.
But even though you feel financially ready for a baby.. Budgeting for a baby is not an easy thing to do.
Trust me we know… We have kids… We went through the whole process.
And we want to help others that are having a baby for the first time.
Or maybe you want to pick up some tips for your next baby.
Whatever number you’re on.. This list should help you prepare for that baby that is on the way.
Here are the essential tips for budgeting a baby.
List Off Everything You Need
The first step is to create a list of items you need to care for your baby.
Things you’ll need for your new baby:
- Car Seat
- Diaper Bag
- Diaper pail
- Wash cloths
- First aid kit
- A pump
- Baby food
Wow! That was exhausting to say all that!
As you can see, baby expenses start to add up. This list doesn’t even include everything you’ll need to buy. It also doesn’t include things you have to buy multiple times (diapers, wipes, and baby food).
It’s hard to tell you exactly how much you’re going to spend on your new baby. But it’s safe to say that you’ll be spending thousands of dollars during the first year.
Save On Essentials
There are ways of saving on some essential items for your baby. Clothing is an example. Thrift stores and online stores like Ebay feature tag items for a baby at reduced prices.
Don’t waste too much money on newborn clothes… your baby will grow out of them fast. It would be a good idea to buy several sizes of clothing. That way you’ll have them ready whenever the baby outgrows the newborn clothes.
If you don’t clip coupons, now is a good time to start. Check the Sunday paper and online websites for baby coupons. It’s possible to find great deals on diapers, formula and other baby related products.
Keep your eyes open for any sales going on at retail stores. Saving 5% on a crib or stroller is a decent chunk of money.
Use A Baby Registry
There might be people in your life willing to donate money or time in helping you with baby care. Take whatever you can get! Make sure you have a baby shower. Have two if you have friends and family that don’t live close by.
If you can pull it off, create a well-planned baby registry. List everything you know you’ll need. Most retailers allow you to make a baby registry on their websites. So pick out your favorite selections from each store.
Do this for small and large purchases. Your friends and relatives might want to pitch in together to buy more expensive items.
Forget about pride or your ego. These people care about you and they want to help. Just remember to say thank you!
Use Cloth Diapers
Although a majority of parents currently use disposable diapers…This will probably cost you about $80-$100 a month. And this is each and every month until they get out of diapers.
You can save money using reusable cloth diapers. You can reduce your overall cost of diapers by about $500.
The other good news is that today’s brand of cloth reusable diapers are almost as easy to use as disposables. These are organic no leak diapers. They snap in with ease. They use hemp to absorb the waste and diaper liners to protect the hemp.
Cloth diapers aren’t for everyone. But if you have the time to do a lot of laundry, then cloth diapers will save you some money in the long run. You will also need to buy a cloth diaper sprayer, but you probably won’t need it for the first 6 months.
Like I said, this option isn’t for most people. But you can save some serious money going this route.
Get Multipurpose Products
Another way to save money on baby expenses is to buy items that have more than one purpose. These multi-functional baby accessories are usually the most expensive items you’ll need for your new baby.
Making one $300 purchase on a stroller that converts into a baby carrier and a car seat will save you from spending more of your money.
Some strollers can detach and function as a car seat. Another example would be a baby blanket that could used as a stroller cover and a play mat.
Here are some items that have multifunctional options:/span>
- Crib mobiles
- Car seats
- Booster Seats
- Nursing covers
So it’s important to look at all of your options. Don’t get excited and buy the first thing you like. This is for your baby, not for you. Do some research and read reviews for these type of items.