Having a baby?
Congratulations! The new addition to your family is sure to bring you years of fun and joy. However, it's fair to say that you probably have a few extra expenses to prepare for too.
While babies are a wonderful gift for most families, they're also extremely costly too. You'll have everything from education expenses, to food and clothing to think about in the years ahead. To make sure that you get started on the right foot, it's a good idea to dive in with a frugal mindset.
These money-saving tips will cut the costs of your baby shopping experience.
1. Ask Around
When you're pregnant and your “nesting” instincts start to kick in, it's common to feel as though you need to buy absolutely everything. While there's nothing wrong with being prepared, the chances are that you're not going to need half of the things that you think of as must-haves.
Instead of buying everything you can think of, consider how much you'd actually use that item if you bought it. You might be able to grab a few of the things you think you want by just asking around and borrowing something from a friend instead.
2. Consider Loans for Big Items
If you're wondering how on earth you're going to manage the cost of big items like prams and car seats, then you can always look into getting a personal loan to spread the cost out over time. Remember, just because a loan makes it easier to buy things, doesn't mean you shouldn't be frugal with your cash advance options.
Take the time to compare loan options online to ensure that you're getting the lowest interest rates. Additionally, consider comparing the cost of the items you want to buy too, or seeing whether you can get them for cheaper second-hand.
3. Buy Second Hand as Often As Possible
Speaking of purchasing baby items second-hand, there are only a handful of things that you should need to buy brand-new when it comes to ensuring your baby has everything it needs. For instance, you can probably get good-as-new play gyms, rockers, and other items from a charity shop without paying over the odds.
Babies can't use things for very long, which often means that parents end up selling or donating items online that they no longer have space for.
4. Try Reusable Diapers
Reusable diapers won't be a compelling option for every parent. However, it's worth giving them a try if you're willing. You could end up saving hundreds of dollars just by washing and re-using diapers as often as possible. Maybe you could consider using a combination of reusable and disposable diapers depending on how much you want to save?
While you're looking for ways to save cash on diapers, remember that some brands will give you samples for free if you're willing to try options from different companies. Make sure you sign up for any freebies you can get online.
5. Don't stockpile anything
Although it can feel like a great idea to stockpile as many diapers and as much formula as you can get your hands on, it's rarely as useful as it seems. You never know when your baby's needs will suddenly change, leaving you with huge amounts of an item you can no-longer use.
If you are buying in bulk, then definitely don't bother purchasing more than a month's worth of products at a time. That's about the maximum that you can safely get away with. Or consider signing up to a weekly subscription with Amazon that you can simply cancel if you don't need it anymore.
6. Resell anything you don't need
Finally, whenever you buy baby equipment, hold onto the boxes for as long as you can. Additionally, don't take the labels off clothes and other items until you use them. You'd be surprised how much stuff you end up having in your house that never gets used – or barely gets touched. If you've got a lot of items in great condition, then you can always re-sell those products online.
This includes any of the gifts that your friends and family members give you for your baby that you don't use – or your child doesn't like. You can't force your kid to play with a toy that they're not interested in. Your loved ones should understand if you decide to sell the items that you're not using for a bit of extra cash.