Yes, having kids will cost you money, but choosing to reproduce doesn’t have to break the bank. With 9 months to go, you’ve got plenty of time to make a plan and get your finances in order. To get you on the right track, here are some top tips on what to expect and how to save big when budgeting for baby.
Diapers are (really) expensive. Our tip? Buy in bulk.
If you’re going the way of the cloth, we applaud you, but if you’re choosing disposables, this one’s for you.
Diapers are costly and babies go through a ton of them. You can easily spend $70 every month on diapers alone. To avoid draining your bank account, buy diapers when they’re on sale. If they’re not on sale – price match to get the best deal. Once you’ve found a promotion you’re happy with, don’t just buy one box of diapers – buy three.
Strollers: Choose wheels that fit your lifestyle.
Strollers don’t come cheap, so be prepared to spend anywhere from $150-$1,200 when choosing your baby’s first set of wheels. A few things you’ll want to consider when choosing a stroller include where you’ll be using it and how you’ll be using it (avid travelers should look for a system that is easily collapsible and relatively light, joggers will need thicker wheels for extra stability). Other things to consider are storage, accessories and the option to add on for baby number two!
Do your research before heading into the store, and avoid making rash decisions that could cost you later. Also consider the ramifications of spending too little. Buying a dingy stroller at the outset means you’re likely to have to replace in years to come.
Bank your baby’s cord blood and cord tissue with Cells for Life!
We know you want the very best for your child’s future. That’s why we cut straight to the point, offering you the most cost-effective solution for cord blood and cord tissue banking.
Our parent-friendly price scheme lets you break down payments into 3 or 12-month installments. This means that you are actually paying as little as $80/month for 12 months, in order to provide your entire family with peace of mind.
DIY Baby Food
Formula is expensive, that’s a fact. According to Baby Center, it can cost between $60-$100/month! And even if you breastfeed, they’re going to want to nibble on real food soon enough. Our top tip? Make your own baby food, but don’t stress too much about it.
Here’s what you do. After they’ve passed the dry run with wet cereal, try blending up some great starter foods and creating meals you can freeze for weeks to come. When they’re really little, using an ice-cube tray to portion servings is a great idea. Make a batch, freeze them, heat them up and serve. Websites like Wholesome Baby Food have some great recipe ideas for your little ones, from their first bite until their first birthday.
Used vs. New
If you’re squeamish about buying second hand clothing for your wee one, you still might want to consider buying pre-loved big ticket items like travel cots, jogging strollers, activity jumpers or baby swings. Each of these items can easily cost you over $100 and your baby will use them for maybe 6 months (if you’re lucky). Check out second hand retailers who specialise in the reselling of used products for kids of all sizes.
Give yourself the gift of time.
One of the biggest priorities you’ll have to juggle as a new mom is spending time vs. spending money. While it’s tempting to go out and buy discount items wherever possible, it’s also important to think about what investments will save you time in the long run.
Saving hundreds of dollars on clothing means you’re set up financially to spend fun time together as a family, and serving prepared baby food when you’re running late won’t do any harm. Sometimes you need to pop a jar and enjoy an hour of snuggles instead. Research the products and services that best fit your lifestyle, and make the best decision for you and your family.