Budgeting for a New Baby
Budgeting for a New Baby
So you are having a baby? Congratulations! On a budget? Congratulations! One of the most amazing gifts you can give your children is the ability to manage their money. Unfortunately, babies do not understand that money does not grow on trees. So until they figure it out, you must manage money no way that will teach invite. Budgeting for a new baby is a money skill that you should learn.
Tips for Budgeting for a New Baby
One of the first places to start is all the things that you (think) you need for new baby. Here’s the thing about having a kid, nesting is a very real thing for women. I’m sure that men experience it too, but the urge to build a home when you know a baby is on the way is very powerful. The crazy thing is that, at least at the beginning, you actually need very little. All of the cute, convenient, expensive, little things you will probably register for as gifts are things that YOU feel that YOU need for the baby. Here are the things that you really need and how to get them for less: 1) Food. Food for you, and food for them. Whether or not you were breast-feeding or formula feeding, either way you both need fed. A membership to a wholesale club will come very much in handy for things like this. Quick, healthy snack items and plenty of liquids will go along way for helping Mom get through the marathon that is a newborn. 2) Diapers and wipes. Couponing is a great way to get diapers for less money. almost all major drugstores and/or grocery stores pretty great coupon deals every few months. There are great couponing blogs out there we can point you in the right direction. Or you can just search “diaper deals with coupons” and find plenty of resources. Also, don’t get stuck in the idea that you have to buy namebrand diaper. Many of the storebrand diapers are all manufactured by the same company’s but just have less marketing money behind them. I encourage you to try all the different brands and see which ones you like. Also note that what works for a girl does not always work for a boy and vice versa. Have you ever heard about Amazon Mom? There are amazing deals to be had through this site. Specifically, if you are a member of Amazon Mom you can get great deals on wipes. Again, find a great couponing site and a lot of times the members there will alert you as to when they are available. Another option is cloth diapering. If you really want to save money this is something to look into. It takes a little more time and effort but the savings are worth it. 3) Clothes. Babies need clothes. Not much, but they do need them. Personally I never buy baby clothes new for several reasons. Baby clothes are either destroyed or in perfect condition. A baby either had a blowout or spit up that stained their outfit permanently or they wear it for two minutes and got changed into something else. Babies grow fast in that first year, and often clothes do not get very worn out. Talk to fellow moms about consignment sales. Where than likely they know with the good ones are. There are many mom owned small sales as well as church sales where you can find unbelievable deals. As a first-time mom you more than likely will want to buy many cute outfits. Let those be gifts. People want to give you gifts. Take something back from your registry that you really don’t need or could buy used and buy all the cute outfits you want. When it comes to YOUR money though, stick to used. The money you save will be better put towards other things in the future. Another thing is that many stores (in particular Target) have great seasonal sales. If you keep an eye on the clearance racks, you will be able to spot some great deals on outfits after the holidays are over. Those clothes are a great deal (even if there are little four leaf clovers or pumpkins all over them).
Where NOT to skimp when Budgeting for a New Baby:
2) A carrier. It doesn’t matter which one you choose, but regaining the free use of your hands again is worth every penny. Baby wearing is a gift to you and your child if done safely. Research your options and if you buy quality, you will be able to use it for many years.
Remember you are raising this child for the rest of their life. They will not look back at pictures and think you should’ve spent more. They will remember if you had to work all the time and were stressed all the time to make ends meet. Focus on the road to financial freedom that grants you more time to be there to enjoy them growing up.
Read part 1 of Angie’s Living on $30,000 Best Frugal Tips on Thriving and (not just surviving) on $30,000 a year!
Part 2 – Basic Home Budgeting
Part 3 – How to Budget Monthly Finances Wisely
Part 4 – How to Not Spend Money
Part 5 – Smart Money Saving Tips to Control Your Debt
Part 6 – Money Management Skill
Part 7 – Why Couples Should Talk About Money?
How to Use Your Tax Refund to Build Wealth
How to Manage Food Budget for Family?
I am a stay at home mom and happily married to my husband Tom. I have a five year old daughter and a two and a half year old son. I grew up in Orlando, but went to school in New York City and lived in Los Angeles before moving home to raise a family. I have worked in the film industry since the early nineties, and for over a decade with the Florida Film Festival. I also spent many years working in marketing with Glaceau and Honest Tea. But, I am happiest at home building my family.
For more Best Frugal Tips, read these:
How to get rich in 5 minutes a day
Frugal Ways to Save Money: Getting Out of Debts
How to Save Up Money: Tips for Living on $30000 or Less
Living on 30000 or Less: Raising a Family of 6
Living on 30000 or Less: Raising a Large Family
Cook, Baker, Phototaker, Fitness Mover and Shaker, Cupcake Tester, Deal Maker, Adventurous Undertaker, Do Good “Deeder”, Teacher, Mom, Wife, Patriot for Life & Giver of Good Advice – RealAdviceGal