Raising a child is expensive. There is no simpler way of saying this. Right from the pregnancy to childbirth, and then all the years spent raising the little one only add to your costs.
Of course, no one sees a child as a financial burden but there is no denying that raising your junior can get a lot harder if your finances aren’t up for it. That’s why every penny saved is a penny earned and there’s no shame in making some efforts to do so when your child is young.
Do remember, as long as you are fulfilling your roles and responsibilities as a parent, it will contribute to their overall upbringing. As a thumb rule, save on the small things but spend where it matters. For instance education, healthcare, extracurricular activities, all add up eventually and your child will thank you for the same.
However, if you aren’t buying them the newest Nike Jordan shoe, that doesn’t make you a bad parent. Especially when they are all of six months old.
So mums and dads, here are seven money saving tips for new parents in the immediate months after delivery that’ll only help you in the long run.
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1. Breastfeed As Much As You Can
Breastfeeding obviously saves money on formula and has numerous health benefits as well, for both mother and baby. So if are able to breastfeed, please do so. You can also pump and carry the breastmilk in a bottle when going outside to avoid formula milk altogether.
2. Borrow A Breast Pump
Breast pumps can cost hundreds of dollars, so if you have a sister, cousin or close female friend who’s got a breast pump that they aren’t, you could borrow the same.
Do remember that you will need to buy new plastic attachments for hygiene purposes. But the overall cost will be far less than a brand new set.
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3. Avoid Buying New Clothes
Babies outgrow clothes in a matter of weeks. They spend in the initial months in diapers and then the clothes wouldn’t even fit them. So why spend over expensive branded baby clothes. You can opt for pre-owned ones instead either from close friends and family or look for more affordable non-branded options.
At the same time, you can request close friends to gift you baby clothes instead that you would otherwise need for family gatherings. It’s also wise to get a size larger when you get too many clothes, so the baby can actually use them over time.
4. Do Not Buy Pillows Or Stuffed Toys For The Crib
Keeping things like pillows or stuffed toys in the baby’s crib is a safety hazard. It can lead to suffocation if gone unchecked and can lead to Sudden Infant Death hazards.
As a rule, do not put pillows, stuffed toys or even loose blanked in the crib with the baby. It should only have a bedsheet covering the mattress at all times. Also, avoid spending on wall hangings or objects that may potentially fall on the baby.
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5. Make Your Own Baby Food
Instead of buying pre-packaged bottles of baby food, mash a ripe banana or some potatoes and carrots to make a healthy and delicious puree for your little one. Remember to avoid buying large portions of fresh produce to prevent spoilage and wastage.
6. Look Out For Coupons
There’s no harm in looking for good deals when it comes to diapers, baby powder and wet wipes. Look for coupons for store or online, and you can buy these in bulk.
7. Borrow Baby Proof Furniture Safety Locks
Most baby proofing locks for furniture are universal and can easily exchange hands without hygienic concerns. You can look at pre-owned classifieds online or new parent groups on Facebook where parents would be looking to discard baby proofing material.
At the same time, try not to purchase too much furniture that looks juvenile. Instead, opt for solid pieces that can be used for several years as your child grows older and matures.
If you want a few pieces of child-like furniture to make the baby room more cheerful, make sure those pieces can be transformed over time to suit your baby as he grows up.
Hope you find these money saving tips for new parents handy. While saving on the basics may be essential, do look out for long-term investment plans no matter how small they are to secure your and your little one’s future.
Also! We are currently running a giveaway on 6 months’ worth of diapers for 10 lucky winners! Don’t miss out on saving money!
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Financial Checklist For New Parents