• Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Financial Wellness

You are here: Home / Budgeting / The Essential Tips For Budgeting A Baby

The Essential Tips For Budgeting A Baby

May 2, 2016 by Preston Guillot

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.

Budgeting A Baby - Infographic

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:

  • Crib
  • Stroller
  • Car Seat
  • Diapers
  • Diaper Bag
  • Wipes
  • Diaper pail
  • Towels
  • Wash cloths
  • First aid kit
  • A pump
  • Baby food
  • Bottles
  • Utensils
  • Clothes
  • Hats
  • Pacifiers

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
  • Potties
  • Nursing covers
  • Beds

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.

 

Filed Under: Budgeting

Previous article: Here’s How To Use 4 Big-Time Websites To Make Extra Money
Next Post: The Sad Truth About Millennials And Retirement Savings

Primary Sidebar

Follow Us







RECENT ARTICLES

  • What is Chapter 11 Bankruptcy and How it May Protect BusinessesWhat is Chapter 11 Bankruptcy and How May It Protect Businesses?
    Chapter 11 bankruptcy isn’t uncommon, yet many fail to see its purpose. Most people have heard of Chapter 11 vs Chapter 7 liquidation, or even [...]
  • Personal Loans After Bankruptcy Discharge: Is This Possible?Personal Loans After Bankruptcy Discharge: Is This Possible?
    Applying for personal loans after a bankruptcy discharge? Getting approved may not be easy, but it still is possible. It will definitely require [...]
  • How to Stop A Student Loan Wage GarnishmentHow to Stop A Student Loan Wage Garnishment
    Student loan wage garnishment is the last thing you want to experience while paying student debts. Monthly wage deductions could ruin your spending [...]
  • Don’t Miss These Posts On Financial Wellness..
    Here’s what happened on Financial Wellness 1. How to Start Investing in Stocks Even With Debt If you’re in debt, then you might be afraid [...]
  • Credit Repair Credit Cards: Learn to Rebuild Your CreditCredit Repair Credit Cards: Learn to Rebuild Your Credit
    Trashing your credit score is so much easier than building a solid credit rating. It’s no wonder so many people seek out credit repair credit [...]
Instagram did not return a 200.

Connect With Us On Instagram!

Footer

Financial Wellness

© 2021
FinancialWellness.org
All rights reserved

  • Privacy Policy
  • Terms and Conditions
  • Contact Us

This Copyrighted Material may not be republished without express permission. The information presented here is for general educational purposes only. Material Connection Disclosure: You should assume that this website has an affiliate relationship and/or another material connection to the persons or businesses mentioned in or linked to/from this page and may receive commissions from purchases you make on subsequent websites. You should not rely solely on information contained on this page to evaluate the product or service being endorsed. Always exercise due diligence before purchasing any product or service. This website contains advertisements.

FOLLOW US

  • Facebook
  • Twitter
  • Instagram