The cost of a new child can seem overwhelming for new parents. Use these tips for saving money with a new baby during the first year.
Couples starting their families may be in for a bit of a shock on the cost of new baby care. On average, a family can easily spend between $6,000 and $10,000 for a new baby in its first year. But budgeting for a baby doesn’t have to mean breaking the bank. There are plenty of ways to have a baby on a budget while still getting everything parents to need for the new addition.
Saving Money With a New Baby
Buying Used Baby Items
Buying used is a great way to save money with a new baby. Of course, there are some things a parent should consider buying new (such as a car seat or crib), but many items can safely be purchased used for a fraction of the retail price.
Used baby clothes are easy to find at secondhand and consignment shops, as well as garage sales. Friends, family members, and neighbors might also be able to donate their old used baby items for the expecting couple. Look for used baby clothes, toys, strollers, and even cloth diapers that are in good condition. If this is a first baby, a couple might want to consider buying newer items to reuse for future babies as well.
When buying used baby items, make sure the item has not been recalled. It is generally illegal to sell recalled baby items but always double-check to be sure. Never buy a car seat that is older than five years old since it expires. Make sure things like mattresses are thoroughly cleaned before use as well.
Saving Money on Diapers
Diapers can be a huge expense for many parents, and finding ways to save can be a great help for the budget. There are many ways to help keep this expense low.
Start collecting coupons from the Sunday newspaper and find printable coupons online for favorite diaper brands to help save money on diapers. Ask friends and neighbors to donate their unused coupon inserts to build a stash of diaper coupons. Shop the sales and use the diaper coupons for maximum savings on diaper purchases. Be on the lookout for rebates and other special savings programs that a diaper company might offer.
Buy cloth diapers and start cloth diapering to save money on disposables. Either use them part-time or full-time for maximum savings. Cloth diapering today is easy and very affordable. The average amount saved by using cloth diapers can total $1000 in a year.
Save Money on Baby Formula
Formula is another monthly expense for many new parents. To cut out this cost completely, consider breastfeeding. Breastfeeding is completely free and very convenient if the mother is able to be near her baby during its feedings. Working moms can use a breast pump to prepare milk while at work. Breastfeeding is recommended by many health professionals due to the health benefits for both mother and baby.
If a mother is not able to breastfeed, then she can still save money on formula by using coupons. Shopping the sales with coupons is a great way to save money. Remember to sign up for the company’s e-newsletter to receive special offers via e-mail.
Cutting Baby Costs
By buying used baby items, using cloth diapers and breastfeeding, a mom can save a lot of money on her new baby. Simply employing a few of the tips described above will reap savings, and it is up to each individual family to decide on what’s best for them. Saving money on a new baby is easy when these strategies are employed.
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