A new baby is an exciting thing. Your bundle of joy is sure to bring years of happiness and wonder into your life. However, when you’re pregnant and preparing for your new arrival, you might find yourself worrying about finances, and how you’re going to continue to make ends meet. Looking after a child means spending money on things you never had to buy before, like diapers, new baby clothing and formula. At the same time, there’s a good chance that you’ll see a drop in your incoming wages for a short period of time, while one parent spends a couple of months with the baby. The good news is that there are ways to save money when you’re stocking up on must-have items for
your baby. Here are just a few tips to get you started.
1. Use Your Friends and Family
A good network of friends and family can come in handy when you’re preparing for a new baby. Not only can your loved ones help to look after your new bundle of joy when it gets here, but they also might be able to help you out with second-hand items that are just as good as new. A lot of parents use things like Moses baskets and pushchairs only a handful of times before they need to be replaced. Find out whether the people you know have any good condition items that they can send your way so you can avoid over-spending on brand-new items.
2. Plan Before You Buy
Prepping for a new baby is exciting. There are so many cute outfits and beautiful things out there to buy that you might end up getting a little bit carried away – particularly when your parenting instincts start to kick in. Rather than spending money immediately, think about how much you’re going to use everything you buy.
For instance, if you’re thinking of spending £50 on a designer baby grow that’s only going to fit your child when they’re a new born, you might need some help planning your budget better.
3. Buy Some Items Second-Hand
While you obviously can’t purchase everything, you’re going to need for your baby second-hand, it’s worth looking in charity shops for the things that will be good as new wit a quick clean. For instance, you might get nearly-new toys in local charity shops for a couple of pounds. Your child won’t know the difference between something you’ve picked up for cheap, and something you got straight from the retailer. When you are buying new, make sure that you don’t pay the full price unless you absolutely have to. Look for coupons and sales whenever you can, and make sure that you check out different websites online to get the best price on everything.
4. Don’t Stockpile, but Make the Most of Freebies
It’s hard to know what you’re going to need in advance when you have a baby. While you might assume that you’re going to need a year’s worth of nappies and baby wipes, when your youngster arrives you could discover that you prefer a different brand, or one product doesn’t work well with the child’s skin. While stockpiling isn’t necessarily a good idea, caching in on freebies is. As soon as you find out you’re pregnant, start joining baby clubs wherever you can for free vouchers and samples sent to you in the post.
5. Sell Anything You Don’t Use
If you’re looking to save cash and make cash wherever you can when your new baby arrives, it makes sense to sell anything you don’t use. When buying baby equipment, keep the boxes if you can so you can sell items that you don’t need on. On the other hand, remember to keep the tags on your baby clothes until they’re ready to be worn. Many people stock up on baby outfits just to discover that their little one has out grown the clothing before they’ve had a chance to wear it. This is a great opportunity to make some of your cash back.
6. Consider Loan Options
Finally, if you’ve done everything you can to organise your budget and reduce the cost of your baby expenses, but you still don’t feel like you have enough cash, it’s time to consider alternatives. If you’re having trouble affording the essentials, look into things like personal loans that might help you to spread the costs of big expenses out over a long period of time. Just make sure that you compare the different loan options online to ensure that you’re getting the best possible deal.