Not only is being a parent to a newborn exhausting, but it is expensive too. Research recently revealed that the first year of raising a baby will cost parents over $21,000. Finding ways of saving money from day one is therefore really important, especially when taking in account the need to financially plan for the future. Here are some handy tips on how to save money when you have a new baby.
Go for pre-owned where possible
Online consignment stores are on trend right now, and it’s no different when it comes to baby-related items. Babies change and grow at a rapid pace, meaning that plenty of things will only be used a handful of times before they outgrow them. So when it comes to things like clothing, baby carriers, and baby swings, it is worth going second-hand. Not only can you find them at a much cheaper price, but also in great condition, because they are used for a relatively short amount of time. This not only applies to baby items but also maternity wear and helpful feeding accessories for moms.
Avoid the latest range of things
If you would rather buy things new, you can save money by hunting out older models of certain items, such as strollers, baby slings, and high chairs. Many retail shops cut the price of end-of-line stock that they are looking to get rid of, meaning you can get yourself a bargain for a top quality product. Some stores may also be willing to give you a bigger discount if you purchase multiple end-of-line items; it never hurts to ask.
Plan your shopping in advance
According to Family Education, diapers cost up to $1,000 a year, so it pays to be smart when it comes to shopping. Keep an eagle eye out for deals on diapers and then buy them in bulk if possible. This will save you money in the long run. The same goes if your baby has formula, which can set you back $1,400 in the first year. Meanwhile, once your baby is on solids, plan meals in advance, buying ingredients and making the meals yourself from fresh. Cook up meals in bulk and freeze portions for the week (making sure you label and date them). This will save you money, wastage and much-needed time.
A little goes a long way
Raising a baby is exciting and thrilling, but the tiredness and many unexpected costs that come with it can also make it feel quite overwhelming. By being smart with your purchases and planning well, however, you can make some significant savings, helping you alleviate some of the stress and enjoy this precious time with your baby. Take it one baby step at a time.