5 Tips to Save Money on Your Baby’s Costly First Year

5 Tips to Save Money on Your Baby’s Costly First Year

babys costly first year
Whether your first child is on its way or the little bundle of joy you brought into the world is already depriving you of sleep and testing your eardrums, you can’t deny the first year with your infant will be full of joys and demands.

While you can’t prepare for the sleepless nights or the unexpected doctor’s visits, you can prepare for your child’s first year financially. Check out these 5 tips on how to financially survive your baby’s first year.

1. Make a budget

First things first, you need to make a budget. Whether you’ve used a budget in the past or this is your first time making one, you’ll need to compare how much money you have coming in versus how much money you’re spending.

Making a budget will allow you to identify where you can cut costs, whether you’ve been staying in the ‘green’, and how you can move your money around to afford the newest addition to your family.

2. Buy generic

Everyone wants the best of the best for their first child and if you have the extra money to splurge on name brand products then by all means, go ahead. However, if you’re looking to save some cash go ahead and buy generic products. Most of the generic brands are identical in ingredients to the name brand products. Don’t let the “gluten-free” or “organic” labels sway you into spending more.

3. Borrow clothes and toys

Your child is growing so quickly during the first year they’ll probably only be able to wear the clothes you buy them once or twice. So don’t waste money on clothes your child won’t wear on a frequent basis. Borrow your clothes from friends and family and be sure to label the clothes if you have to give them back.

The same goes for the toys you buy your little one. At certain stages they’ll need toys which promote sensory learning, crawling, walking, etc. However, ask to borrow them to save a few bucks as they won’t need those toys for long either.

4. Shop used

If you don’t have the ability to borrow clothes and toys from anyone you know, try hitting up some garage sales and consignment shops before heading to Walmart or Meijer. Since babies grow quickly you’ll be able to snag some awesome gently used infant clothing for cheaper than retail value.

5. Evaluate need versus want

When the first child comes along parents get caught up in the emotional roller coaster associated with having a first kid. This leads them to purchasing items they think they’ll need, but actually never use.

Your baby will need a crib, but they don’t need cute blankets or pillows since those are unsafe. Your child will need to take baths but since they can’t be left alone, baby bathtubs are useless, unless you really like them. And you probably don’t need a special diaper bag since any bag will due. Focus on what your kid will need, not what you want, a.k.a. the basics.

Remember to breathe

Babies are expensive, especially during their first year. Just remember to breathe, cut costs where you can, and buy only things you need. Stick to these 5 tips to ensure you make it through financially during your baby’s costly first year.

What other tips do you have to save money during your child’s first year?


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