Top baby budgeting tips
Having a baby can change your life in a lot of ways: they will affect your sleep cycle, they will be challenging and they will certainly change your views on life. Another factor that is key to note is that your financial situation will almost certainly change too
Throughout this time you will no doubt need to learn how to adapt to providing for a human life that depends on you, however with a touch of planning and some simple adjustments you should be able to make the necessary changes that will ensure the financial impact is perhaps not quite as escalated as you may have first perceived.
The first stage involved within the process of learning to budget for your little bundle of joy is assess your financial situation right now. Work out all of your outgoings and what disposable income you are left with and from that you will be able to review what possible changes you may need to undertake to start providing for the new little one in your life.
In the run up to your due date, start to actually save your money. This involves paying more attention to where your disposable income goes and cutting back on purchasing the luxuries that aren’t necessarily needed, such as a morning coffee or that unused gym membership. This short term saving will make a bigger impact than you think and you’ll be thanking yourself that you did it. Your household bills could also be a way to help save money; when initially assessing your finances, check if there are any suppliers that are cheaper or offer a better deal on the market.
Only buy essentials
When preparing for your baby, it is completely understandable to get carried away and buy products that you may not necessarily need. It is advisable that you check some online resources dedicated to helping mothers like you find the best value for your money when it comes to shopping for your baby's essentials. Such a great site is MyMomShops as they review the best, safe and cost-efficient baby items to help you choose only the best for your little one. For starters, just buy the main items that you will absolutely 100% require, such as the pram, car seats, bottles, baby trikes etc. and even with these items make sure you shop around to get the best price for it. Kiddies Kingdom’s range of car seats for sale, along with a selection of other main essentials are sold at competitive prices and ensure you’re not paying over the odds for those all important items. Bottle warmers and additional accessories for the pram can be considered at a later date and only if you feel at that time that they would be helpful to have.
Borrow instead of buy
Apart from the main items or products that can’t be used second-hand, instead of buying them brand new, consider seeing if there are any friends or family who may still have the products in their loft and are happy to lend it to you or let you buy it off them at a cheaper price. That way you may not have to fork out for absolutely everything which could avoid making a rather large dent in your savings when there simply isn’t the need to do so. Your friend may even thank you for opening up more storage space within their home!
Make your own food
If you are able to, breastfeeding is a great way to feed your baby and there are many benefits associated due in part to the natural nutrients this form of feeding provides for your child. If you are in a position to breast feed and you would very much like to do so, you may also see a positive financial impact, so when budgeting for your baby you may not have to section a cost off to pay for formula milk which can quickly add up and become quite pricey. When starting to wean your baby, try making your own food from scratch, this is a much more cost effective alternative compared to buying shop bought items and you will know exactly every ingredient then that you are feeding your child.
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