If you’re expecting a baby, congratulations! Starting a family is one of the most rewarding things many people do, but it can also put an additional strain on your finances. I can remember how scared I was when we first had our kids. I was a total wreck and nervous on how we were going to be able to afford to have Shaun and when Shae came along I almost had a heart attack, LOL. The cost of prams, nappies, cot beds, Moses baskets and other essentials can leave you out of pocket, so take a look at these four money-saving tips for parents-to-be.
Keep your borrowing costs low
With a little one on the way, you may be considering taking out a bank loan or a credit card to help you make significant purchases. If you do, however, it’s essential to look out for offers and deals online and to keep your borrowing costs low. This will help you clear your debt quicker and allow you to buy everything from car seats to nursery furniture – without receiving a hefty bill.
Shop around for discounted clothes
New-borns will be toddlers before you know it, so there’s no point in spending a fortune on designer baby grows or state-of-the-art footwear. Instead, head to markets, car boots, nearly new sales, discount stores and supermarkets or look for second-hand items online. As babies grow so quickly, pre-loved items are often in a great condition and could save you a fortune in the long-run. I can say that Melinda is a pro when it comes to finding gently used clothes at great prices because with three kids you need to do everything you possibly can to save whatever money you can. Also, considering how fast kids grow spending a lot of money for 1 or 2 wears just doesn’t make sence.
Save money on the nursery
Believe it or not, you don’t have to spend a fortune on the nursery! Simply keep redecorating to a minimum and make the most of furniture you’ve already got – or browse second hand and charity stores. If you need to paint the walls, use a single colour to keep costs down and use wall transfers, stickers or stencils to brighten up the room. Throw in a few teddies, wall hangings and perhaps a mobile for good measure and you should notice a big difference in no time.
Think about childcare
It might seem a while off yet, but it’s important to think about childcare. Will you send your little one to nursery or is it cheaper for you to stay at home all day? This will depend on your job, salary and who takes care of your child, but it’s worth putting a budget in place today – or at least setting up a savings account. That way, when the time comes you won’t receive any unwanted surprises. We never saved for day care and looking back I wish we would have because it’s just as expensive a car payment or two. Thankfully Melinda stays home now and has been since the day Shae was born so we no longer have to worry about day care coasts.
Everything from shopping around for clothes to making a credit card comparison could save you a fortune, so look after your hard earned cash.
