The Ultimate Baby On A Budget Checklist
When I welcomed my daughter into the world, I felt like money was evaporating into thin air. Every dollar sprouted wings and flew away to the pediatrician, the drugstore, and any shop that sold children’s clothes. Of course, I had expected to face new financial strains, but I was terrified when I received my first postpartum credit card bill. If you are a new parent, you probably feel the same fear; on average, you can expect to spend between $7,000 – $14,600 per year up until your child’s second birthday.
Navigating the financial waters of preparing for a baby can be overwhelming. So we’ve put together a few handy tips for budget-savvy parents-to-be to make life a little easier. From setting up a family budget to deciding which items are must-haves and luxuries, you’ll be ready to welcome your bundle of joy without breaking the bank!
Money-saving Tips
Budget
Money-management apps can help you track your finances and make budgeting more straightforward with the 50/30/20 rule: allocating 50% of your budget to essentials (rent, bills, food, etc.), 30% to other expenditures, and 20% to saving. If you’re finding it tough to save for your baby, you might need to reduce some of your non-essential spending.
Save
As soon as your little one enters the world, think about setting up a child savings account – you might not have to pay tax on the saved amount! A smart move is to set up a monthly bank transfer that deposits money directly into the account – that way, you won’t even feel the pinch, and the savings will grow with your baby. Whether you want to purchase baby items or start a college fund, shop around to get the best interest rates and ensure you’re saving the most for your child’s future.
Shop wisely
Create a checklist of must-have baby items, aiming to buy only the necessary stuff. For example, a car seat, cot, pram, diapers, a few one-pieces, vests, and a baby blanket. If you have a baby shower, why not create a gift registry for your friends and family to contribute towards the more expensive items? Not sure if you really need something? Tap into the wisdom of your experienced friends and family, who might also have helpful tips for saving money as a new parent.
Be Prepared: Must-Have Baby Supplies Checklist
When it comes to baby prep, certain things are simply not up for debate.
Once off
- Baby bathtub
- Baby monitor
- Baby thermometer
- Bedding
- Bottles
- Breast pump (if you are breastfeeding)
- Car seat
- Crib or bassinet
- Diaper bag
- High chair
- Mattress
- Stroller
Check out tips on how you can save on baby car seats!
Regular Purchases
- Baby clothes
- Baby shampoo/soap
- Baby wipes
- Diaper cream
- Diapers
- Pacifiers (trust me…they disappear)
Find more money saving tips on baby wipes!
Don’t shy away from freebies
See if your friends and family have any hand-me-downs to pass along – it’s the perfect opportunity for them to do some spring cleaning!
Buy pre-loved essentials
Scour your area’s Facebook groups and second-hand sites for pre-owned baby essentials! You might be surprised to find large-ticket items in top-notch condition for just a fraction of their original retail price.
Try reusable diapers
Be kind to the environment and your wallet – switch to reusable cloth diapers! Sure, there are initial costs depending on what type of diapers you choose, but by the second year, you should have made that money back and then some – especially if you’re welcoming a second baby.
Check out what’s the average cost of disposable diapers per year and how you can save money on diapers!
Multi-use items save money and space
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Search for furniture and accessories that can do double duty! An example of this is Target’s Delta Children Adley Changing Table, which doubles as a storage unit ($94), and Walmart’s Graco 6-in-1 high chair ($100), which can be transformed into a booster seat, then a regular chair. Not to mention, many cribs can be later turned into a toddler’s bed too!
Related post: When to Start Putting Together a Baby Nursery
Buy in bulk
Not everyone is up for cloth diapers, and that’s perfectly fine! However, with the many other tasks on your parenting to-do list, why not opt for bulk buying or a subscription service for disposable diapers? It’s important to remember, though, that your little bundle of joy won’t stay small forever – be sure to adjust the size and type of diapers as they get bigger.
Coupons and rewards programs
Subscribe to newsletters and coupon offers from baby-food companies like Gerber, Beechnut, Walmart, and Target. Also, take advantage of the baby club provided at your local supermarket. You often get deals like $10 off your next purchase after spending $100 on qualifying items such as diapers, wipes, and some baby-related accessories. Last year I saved a whopping $40 on groceries by taking advantage of this great offer!
Looking for free baby stuff like diapers? It’s simpler than you think! Try requesting free samples, joining a diaper rewards program, or signing up for a diaper company’s mailing list. Plus, if you’re using Huggies diapers, you can take advantage of their Huggies Rewards program and get free items with your points. And if you’re using Pampers diapers, don’t forget to collect the codes–Pampers Rewards allow you to get baby food, toys, gift cards, baby gear, and books–all for free.
Low-income families can check the National Diaper Bank Network. If you qualify, check the state list and see if they can join their program.
If you can, breastfeed
When it comes to nourishing babies, nothing is better than breast milk! According to the World Health Organization, exclusively breastfeeding your infant for the initial six months is highly encouraged – and not to mention, it’s the most cost-effective form of nourishment too.
Make your own baby food
As a new parent, your plate might be overflowing – but making your own baby food doesn’t have to be daunting! Not only can it save you a lot on your grocery bill, but it’s also quite simple. Take some time to prep your baby’s favorite foods, then freeze any extras for easy heating and eating later. There’s no need for fancy gadgets either – simply steam some veggies and use a blender to make the food softer, or cut it up into small pieces for self-feeding.
Related post: When to Start Buying Baby Stuff
Wrap up- Baby on a Budget Checklist
It may be difficult to resist buying all the bells and whistles when it comes to baby products, but the truth is most are luxuries, not necessities. Your little one will be just as content with the basics, plus a loving and attentive parent. So don’t worry about filling your registry with all the latest gadgets; choose the essential items you need and can’t live without, and add anything else you adore. Furthermore, you can always purchase extra baby clothes or other products after the baby is born.
By moms for moms- check out this “Going Back to Work After Baby Checklist” to help you in your comeback.