Four Financial Tips For Having A Baby
Having a baby is something that’s exciting but it can also be terrifying and daunting at the same time.
While trying to prepare and learn about everything needed to look after a baby, you’ll also need to make sure that you are keeping yourself financially stable during these times. Trust me, I’ve been there (still there sometimes), but I’ve learned a few things in the almost-three years of having a baby. Today, I am sharing four financial tips for having a baby.
1. Save, Save, Save
This honestly goes without saying, but just in case you need reminding, it’s important to try and save as much money as you can when it comes to having a baby. You’re going to need some extra funds to help see you through the periods where you might be on leave from work and therefore not earning the same amount as you did beforehand. It’s also good to have an emergency fund, should there be anything you need and perhaps can’t afford at the time. You want to be able to provide everything you can for your baby, but it’s also good to have the funds to look after yourself too. Becoming a parent can be tough, so it’s good to be able to set aside some money for yourself in order to treat yourself to things when it’s needed.
2. Go Second-Hand On Clothing
Honestly, this is something I wish I did more when I had Adeline. When you have a baby for the first time, it’s really fun and exciting to buy all the cute baby clothes but honestly, you can skip buying NEW newborn clothes since they grow out of them quickly. One tip I have is to go thrifting or get your hands on some second-hand clothing and perhaps only buy a limited amount of clothes by age group. That way, you’re not spending too much money at once but still getting plenty of outfits for your child to wear.
3. Draft Up A Budget
A budget is important to have because it outlines what you have available and what you can spend on a weekly or monthly basis. From diapercalculator.com alone, you can see just how expensive things can get and so it’s important to know what you need to have coming in, in order to pay for everything that’s needed. It might mean that you have to sacrifice some of the other areas in your life or perhaps cut back where necessary. However, it’s all worth it in order to help bring up your little one with everything they require in life.
4. Bulk Buy Some Items
A few baby items are better bought in bulk rather than buying them one at a time since you’ll be going through them like nobody’s business. Things like diapers, wet wipes, formula, baby food, and other stuff, are likely going to be more affordable when they’re brought in bulk and it’s going to help you save some money in the process. Bulk buying can be a great way to ensure you’ve always got supplies when you need them and it doesn’t hurt knowing you have some extra cash in your pockets.
