A new baby brings with it a heap of excitement and a free pass to go on a crazed spending spree. Babies are precious gifts, but they can inspire intense urges to get everything possible regardless of the cost. First pregnancies are especially prone to this syndrome. Of course, there is absolutely nothing wrong with wanting to provide the best for your baby, but the best can come with a high price tag that doesn’t necessarily fit your pocket.
Luckily, there are ways to provide everything that your baby needs, at a cost that won’t flip your finances into disarray at a time when they should be solid as a rock. Take a look at the following suggestions.
Create a Budget
Although tracking the cost of everything you buy for your baby is probably the last thing on your mind, it is important to draft up a budget for your spending. If you don’t know what you need and how much you can afford to spend, you may find yourself buying everything that appeals to your senses, which is not the most financially savvy thing to do. It is advisable to make a list of all the items that you will need for your baby as well as the repairs or adjustments you may need to make to your home to make it childproof in time for your little one’s arrival. This way you can schedule your spending over the next few months to be prepared for your child’s birth.
Know What You Can Buy Used
Getting everything new might start off feeling like the thing to do, but it may not be practical or necessary. There are some things you can accept from generous friends or family that will cut down on what you have to spend. If you can get furniture that has been used before or even some clothing it means you can check these items off your list without spending a dime.
Remind Yourself of What’s Optional
New parents can go soft when they are putting together a nursery and this can lead to spending on a lot of unnecessary items. You may not need a separate change table, designer crib sets or coordinated décor packages, but you might be tempted if you put yourself in the position to be surrounded by them. If you know these things are not in your budget, simply stay away from the stores that have them on display to cut down on the risk of springing for something that is not high on your list of priorities.
Learn How to Do It Yourself
Baby food is one of the areas that it is easy to save. Instead of buying prepackaged containers of baby food you can learn how to use fresh fruits and vegetables to make your own. This can save parents a bundle at the grocery store and your baby may be better off. Of course, breastfeeding in the early months can also cut back considerably on your cost and it is proven to be the best for your baby as well.
Start Saving Early
Most importantly, transfer the money you save on your smart choices into a separate account for your little one. This can also be built into your family budget as time goes on. The money you accumulate can be used as your child’s college fund or for them to pursue whatever they want to when they come of age.
New and expectant parents should try to remember that it is easy to get carried away on spending in the early years, but the later years are sometimes terribly under-financed. It is wiser to hold back and prepare for the future because this is the only way you can provide some level of security for your child down the road.