Ways to Prepare for a Baby
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Every year you hear statistics of how much it costs to raise a child. The number is staggering, but I think sometimes misleading. While some costs are non-negotiable in life, there are things we can do to cut expenses and not go into hock while we raise a family.
Here are some of things couples can do to make ends meet a little more easily as they grow their family:
1. Start budgeting each month.
Give every dollar a name. Expenses will rise as your family goes so practice financial responsibility as soon as you can.
2. Create an emergency fund.
This can provide tremendous peace of mind, especially if you are moving to one income. Sock away whatever extra cash you have. Even consider selling stuff to develop a cushion between you and disaster.
3. Buy used.
Babies don’t need fancy cars — or strollers. They need to be safe and they need YOU. Pretty simple. Check up on the recall status of items you’re buying, but you can save a bundle buying second-hand items.
4. Live frugally.
Babies can “cramp your style” or give you permission not to live beyond your means. Ask yourself:
- do I need it?
- can I make do without it?
- can something else serve the same purpose.
5. Try out coupons and stockpiling.
With the last FishBaby, I used coupons combined with sales to buy months’ worth of diapers and other baby supplies for just a few dollars. I started stockpiling as soon as I knew I was pregnant to not feel rushed later.
6. Read good money books alongside good parenting books.
Teaching our kids healthy attitudes about money certainly falls in the realm of good parenting. Keep yourself sharp when it comes to dollars and cents.
Do you need it has been a phrase of mine for awhile?
I buy nearly all baby stuff used. Or it’s been given.
Thanks for the challenges!
No babies here, but I’ll be passing this post along to my sis-in-law
One thing I would caution against buying second-hand is a carseat. Carseats which have been involved in accidents should never be re-used, and it’s impossible to know if that’s happened when you’re buying from Goodwill or a consignment shop. I did accept a hand-me-down carseat from a trusted friend, but my husband wasn’t even comfortable using that, so we purchased one brand new.
I would add to not turn your nose up to hand-me-downs, which is the same as buying used. I have friends who don’t like hand-me-downs though. We received quite a bit of hand-me-downs like our crib, high chair and running stroller.
Instead of buying a changing table, I used a dresser and just added a changing pad. It has worked great. I am almost 5’11 and the dresser sits higher than any bed or store-bought changing table.
I agree with pp Mara, if you can do it, nurse as long as possible. My kids didn’t have a drop of formula and that saved me a bundle.
Thanks for the link-up.
Great post, I totally agree that having a baby doesn’t have to cost a fortune. (It’s when they get to be older, but… that’s another topic for another day, right?!) I’d also add breastfeeding and cloth diapering to the list of money savers (although odds are we’d do them both even if they weren’t!).
I am honoring you with an award at http://traininghappyhearts.blogspot.com/2010/10/7-quick-takes-and-another-honor.html
Great tips. Wish I’d had resources like this back when I was having my first child. I had to quit work while pregnant due to being so sick. We adjusted to single income living several months earlier than expected.
I second Craigslist. I got a barely used non-recalled (I checked 100xs) carseat for $40! The retail on it is $110! There is no way I would pay that much in this season of our lives! Some things, like tubs, clothes, and accessories, don’t have to be new. And with research on recalls, cribs, carseats, high chairs, and swings can be found cheaper on Craigslist or garage sales.
@Lindsey,
Please use caution in buying carseats used. If the carseat has been involved in a crash, the belts were washed incorrectly, it was reassembled incorrectly, etc it may not provide the maximum protection for your little one.
Buying used is always a great way to save money (and the planet), but ESPECIALLY on baby gear, which you only use for a short period. I’ve had such great luck finding stuff on Craig’s List.
I definitely agree about your suggestion of, “Do I need it?”. I purchased so many unnecessary items the first time I was pregnant. I wish I had asked more friends and family about what they really used or didn’t use and why.
I would also add shop at consignment stores since so baby/kid items are only used for a short amount of time and are usually in good condition.
Plus ask friends and family for any unwanted items. I received many like new toys that she wasn’t using anymore from my friend’s, friend (a person I have never met).
@Cheryl @ Swap Savers, YES, letting people know we were open to hand-me-downs was a huge blessing. A former co-worker gave us beautiful things for our son, including a Pack-n-Play, a high chair, some very expensive Fisher Price toys, and clothes that looked like they had never been worn. Another friend passed along her daughter’s crib mattress, in nearly perfect condition. And the majority of my son’s books and toys once belonged to his Uncle Mike (now 16!)
@Katie Gregg, Great job Katie–that is amazing!