Saving Money When a New Baby Comes

By | October 16, 2015

Nothing is quite as wonderful as the arrival of a new baby, especially a first child, but this joy can quickly be tempered with a hard dose of reality when the financial implications are weighing down on you. A baby born in the next year is likely to cost his parents not far short of $250,000 by the time he (or she) has turned eighteen. So if you are still with your bag packed and waiting for the car to take you to the maternity hospital or already feeding babes and changing nappies, here are some easy ways to moderate the costs on the road ahead.

Online saves time and money

You might be itching to wheel your lovely new baby down the street but why not take him or her to the park rather than the shops? If you shop online, you can do it at at a time to suit your convenience and you will find some real bargains on essential items such as diapers.

Second time around no problem

For most baby items there is no harm and no shame in either buying or receiving other people’s baby clothes and other items. One mother I know who was married and consequently had her children later than many close friends has been the happy recipient of whole wardrobes of clothes. (There are reasons to be cautious with second hand cribs, car seats and very old toys.) Very often your friends and acquaintances are delighted to see their things going to a good home rather than cluttering up garages and storerooms.

Looking after baby – be co-operative

Sooner or later both parents are going to need to return to work leaving the very thorny problem of who is going to look after the baby. Child care costs and baby minders are extremely expensive but if there are no willing grandparents to help out, try getting together with other new mums and dads in your neighborhood and forming a babysitting co-operative. If this works, this could be a benefit for years and years to come.

And more….

Mums like joining mother and baby groups because these prove a chance for interaction with other mums and also get them away from the four walls of their house or apartment closing in on them. But you can make big savings on the cost of all these vital social events by perhaps using the same co-operative and organising events for yourselves. It all becomes that more personal and friendly and everyone can contribute either with premises or some food and drink.

After school is costly – but it needn’t be!

This is something that new parents may only be dreaming about right now but is worth remembering as the years pass quickly. You don’t have to spend a fortune in after school clubs and activities. Choose two or three and research what may be provided free of charge by local authorities, parks and museums.

The bottom drawer

And finally if you ever need some top up income, don’t forget you can get a loan with a Car Title Loan to help ease any short term lack of funds.