That bundle of joy is coming as quickly as ever—and of course you’re ecstatic! But it’s no secret that a new bouncing baby comes with a sharp increase in expenses.
Fear not: there are plenty of ways you can start to save before baby gets here, and even after they’re here! Here are some tips you can follow to save some money when you’re expecting.
Save on Energy Bills
While this may be the last thing on your mind, there may be things you can do in your own home to cut down on costs. Making sure to keep the temperature at a moderate level, especially when you’re not home, will make a huge difference in your monthly bill. Websites such as www.powersetter.com can even compare local power company rates to ensure you’re getting the best deal. Cutting down on bills is a good way to ensure long-term saving.
Make a Budget
Make a list of what you actually need, and not just what you’re excited about buying for the baby! Creating a budget will help you decide between that fancier, more expensive stroller, versus a perfectly sensibly and cost-friendly one. While having a budget, make sure to also track how much you’re spending. It can get easy to get carried away with wanting everything to be perfect!
Save on Baby Clothes
Although that name-brand denim jacket with the baby Converse is an adorable duo, it’s $100 that would better be spent on food or diapers. Babies grow incredibly fast, so save money by finding clothes at consignment stores or on sale. Don’t spend too much on shoes as they will outgrow those quickly as well. Don’t buy clothes in advance either: if you buy a sweater in the summertime and your baby has a sudden growth spurt, it won’t fit when you need it!
Get Things that do Double Duty
There are several items of furniture that can double as two things, which saves you money from having to buy them separately. For example, a changing table that is also a dresser; a booster chair that can be converted to a regular chair; cribs that can be made into toddler beds; etc.
Get furniture and equipment that grows with your child, so you don’t have to buy all new things in a couple of short years!
Save on Food
While you may think being extra prepared and stocking up early is a good idea, don’t! You don’t know what your baby will and won’t like. Wait before stocking up on a ton of bottles from the same brand until you know what your baby will drink out of. Make sure to also ask your doctor for formula samples or coupons, and remember that generic brand is just as good as name-brand!
This is a new and exciting time for you as you’re expecting your bundle of joy! Don’t miss out on enjoying this wonderful time, but also make sure to be smart about it. Although it may not seem like it, there are many small ways to save money that will eventually add up over time. Even small recreational expenditures, like $5 a day for coffee, adds up to $150 a month!
Being in a better financial place will reduce your stress levels and allow you to enjoy your new family that much more. As tedious as it may feel, being financially responsible before the baby to arrives is one of the best preparations you can do for their arrival, because it will lessen the financial burden later on! Good luck, and congratulations on your new addition to your family!