Money Saving Tips for New Parents
Those who are about to become parents should think about money saving strategies before baby arrives.
For starters, creating a baby register at a baby specialty store or other favorite retailer is a must. A baby registry works like a bridal registry. When a baby shower is scheduled, the parents can visit the store of their choice, choose “wish list” items and enter them into a computerized registry. Shower guests and anyone who wants to purchase a baby gift cans simply check the registry and purchase something from the list. When creating a registry, it is a good idea to have some items in various price ranges, so that friends and loved ones can purchase items within their budgets. The neat aspect of the baby registry is that some people are very generous, so it is not unusual for families to receive high dollar items like child safety seats and strollers. When baby arrives, there will be more money for other items.
Consider hand-me-downs or gently worn items. New babies grow fast, which means that friends or family members may have baby clothes that are as nice as new. With careful laundering, baby clothing can be passed along to other families for years. Consignment shops are also options for finding nearly new clothes and other items.
Consider breastfeeding. Breast milk has immune building properties, and is loaded with nutrients that promote healthy growth and development. Even breastfeeding for six weeks is very beneficial for baby and can save money. If baby is drinking formula, ask the paediatrician for samples. Many paediatricians have an abundance of baby formula samples on hand are willing to share.
Purchase a supply of cloth diapers. Using cloth diapers can save hundreds of dollars per year. For parents who prefer disposables, having some cloth diapers on reserve means not having to buy disposables on credit when cash is low.
Become a coupon master. Parents who are not particular about the brand of diaper can purchase diapers at a discount every week. Diaper coupons are common in Sunday newspaper inserts and magazines. Coupons can also be printed from diaper company websites and other coupon links. Magazines for parents of new babies are good sources of freebies, and feature coupons with deep discounts for other items.
Prepare more meals at home. A meal at home can be prepared for less than half of what the same meal would cost at a restaurant. Invest in a crockpot. With the right seasonings, a less than tender cut of meat will taste like a five-star entree after a few hours in a crockpot. Save the eating out for nights when restaurants offer free kids’ meals.
So, there you have a good starting point to begin saving money as a new parent before and after baby arrives.