Parenting

Wednesday, February 10, 2010

Have Your Baby, and Keep Your Budget Too!

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Hospital bills, wardrobes, and gear for baby can cost a small fortune but it doesn't have to! Check out these ten budgeting tips to ensure that your growing baby bump does not lead to a diminishing bank account.
  • Open Your Arms to Hand-Me-Downs - It's tempting to want to put your newborn bundle of joy in only new clothes and gear, but accepting hand-me-downs is an easy way to cut costs dramatically. It's also a good idea to check the Consumer Product Safety Commission for any used gear you acquire that may have been recalled.
  • Clean Up With Baby Showers - Buying baby gifts is one of the small joys in life. Pregnant women are showered with gifts for their upcoming arrival and it's a big financial help for expecting moms and dads. Register for goods you need, and don't be afraid to return those that you don't.
  • Go Neutral - Plan on having baby number two or three in the future? Even if your first born is a girl, you may not want to stock her closet with everything in pink and purple. Instead, fill her wardrobe with an abundance of neutral colors (add in some girly accessories) and you'll be able to reuse the clothing for her siblings down the line.
  • Find Out What You Need and What You Don't Need - Stock up on the necessities that really count. Most mamas have a few pricey baby products in their possession that are doing nothing more than collecting dust and taking up precious space. Learn from seasoned moms by finding out their must-have and most useless baby products and then make your purchases based on your research.
  • Put on Your Chef's Hat - Not only is making your own baby's food the "in" thing to do right now, it's also the most economical. Cook, mash, and puree up your little one's grub and you'll save a ton of dough. Plus, cooking up your babe's food gives the added bonus of knowing exactly what your tot is eating.
  • Double (or Triple) Up Childcare - Having your own nanny is ideal but for the working mama on a budget, a nanny share is a good option. Splitting the cost of a nanny between two or three families cuts costs considerably and also gives your tot other children to play with during the day.
  • Find Free Activities - Extracurricular activities for children often require extra cash. Keep an eye out for all the things you can do with your baby that are free (or basically) free such as story time at the local library, and free trial classes at play gyms. For a head start, check out our list of kid and budget friendly activities for the Fall.
  • Coupons, Discounts, and Sales - Baby stuff can break the bank, but what goes up must come down. Watch for sales, which are about to kick up into high gear for the holidays, and hold on to coupons to use for your big purchases (car seat, crib, stroller, etc.).
  • Date Night In - Parents need a date night away from the kids every once in a while, but save the cash you'd spend from dining out and childcare with a date night in. Sip some wine, light some candles, talk about your days, and then pop in a romantic DVD. Chances are you'll both be asleep by 10 o'clock, but at least you'll be together.
  • Skip the Stores, Raid Your Neighbor's Goods - One mama's trash is another mama's treasure. Check out local yard sales for great deals on used (and barely used) baby gear. Not only could you score some great finds, you'll also be able to bargain down the price significantly.
Related Content:

Would You Enlist Your Child's Talents to Pay the Bills?
Five Budget Friendly Activities For Fall
Does Your Baby Have a Savings Account?

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parenting byte

Keep your family healthy without changing where you shop.  Healthy living costs less at Walmart.