For those who have just recently become new parents, child care, raising a family, and maintaining some form of financial security throughout this process can seem like an incredibly daunting task. Trust me… I have had THREE new babies 😉 Juggling the responsibilities of caring for a newborn infant, preserving your family integrity and/or relationships in the outside world, working or considering return to employment after the birth, and factoring your new baby into your budget is a challenge to achieve. These money saving tips for new parents will help you get through the budget crunch and put away some college funds!
Whether you are just beginning to budget now that you have started a family, or whether you are integrating this new member of your family into your well established budget, it is going to be a time of enormous change and adaptation for you and your little one. Although saving money may be the last thing on your tired mind when you are waking up every two hours throughout the night, dealing with nappy rash and adjusting to a life of very little sleep and a good number of new smells, it is important to begin your journey as a new parent with frugality in mind.
The multi-million pound baby industry is right there waiting to take advantage of your new parent naivete that convinces you that you need every new carseat, bottle, rattle, and formula available. Keep your costs down and keep your budget in check by being well informed, educated, and surrounding yourself with those who have been through this same journey before. For example, one good resource to aid you as you make decisions about what your baby needs is a publication widely available in the UK like Mother and Baby and Parent Talk. You will likely find a good deal of discount codes, promotional coupons and special deals available in the inserts of a magazine like this that will save you money on everything from exercise classes with your new baby to cloth diapers.
Reach Out to Your Community
The old saying that it takes a village to raise a child is never more true than when applied to new parents. As a new mum or dad, you need the advice and counsel of others who have been through those stages in order to distinguish what is necessary for your baby and what is not. The good news for your wallet is that many of those necessaries that come with raising a child can be reused. Get in touch with your community resources to see if there is a children’s clothing bank or swap near you that will have nearly everything you need for your infant at little or no cost to you. There are plenty of new mum and dad forums online in which you will find valuable shared information about free secondhand baby clothing and toys, child care opportunities, and more that will aid you in budgeting with your new baby in mind.
There is nothing like a trustworthy guidebook to get through the first few months as a new parent with flying colours. Rather than heading unarmed to the supermarket, department store or baby shop, instead use a resource like the classic What to Expect the First Year to inform you about what is best for your baby and what new parent accessories are not essential.
Do It Yourself and Make Your Own
Whenever you can do it yourself or make your own when it comes to the first months or years of your baby’s life, you can shave pounds off your monthly budget. For instance, prepared baby food can be quite a pricey expense when you add up the jars over time. However, if you have the time and inclination, making your own baby food will save you a significant amount of funds, and will be healthier for your child.