You can prepare all you want for a baby on the way, but when it comes down to it, nothing really readies you for a whole new person in your life. It will be up to you, the new parents, to do everything you can to ensure the child’s health and safety.
Most of this comes down to money, unfortunately. Babies are a money problem. When you have money, you can give them everything they need. If you’re wasteful with your money, you’ll have some problems.
The issue is that it can be difficult for new parents to transition from their old spending habits to the new ways that will be required for their baby.
So how can new parents save money responsibly for their child? Here are three ways.
Don’t Always Go for New
New things cost money, sometimes lots of money. Although it may not have been something you were used to before, don’t be afraid to go for used things for your baby. Think of it as a waste to get new clothes and toys for a child who is only going to grow out of them within weeks or months.
There’s a big market for used kids clothes because parents need to save money everywhere they can. Why pay big money for name brands when you can get some gently used onesies, shirts, pants, and the like for half the price or less? It just makes sense.
Transition to a Lean Budget Early
It’s always helpful to get into the practice of saving money before the baby even arrives. To that end, you might want to see what expenses you can cut in the months leading up to the birth.
Are there any stubborn debts you’ve been carrying around for years that you just want to be gone already? Credit card debt? That last $2,000 on your car payment or student loans? See what you can pay off now so you end up with more of your own income later, when you’ll need it the most.
Also, spend less on yourself and your own pleasures so you’ll have more resources available for the baby.
Go to Family
Lastly, you’ll need to save money everywhere you can on child care, so if both of you work full-time jobs, don’t be afraid to see which family members might be interested in watching the baby during these early months.
Grandparents can help out a lot here. They get to spend time with their grandkids while saving you money on expensive daycare. It’s not always possible to have family members babysit, but if you know any family who would love the job, now is the time to hit them up. You just can’t be too proud to ask for help at a time like this.
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Saving money is a useful skill that keeps you from wasting on bullshit and saving it for more important purchases or raising kids. I think this is the right approach to life.
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