The excitement of having a baby is great, but lets look at the cost for baby’s first year.
Filed under: Debt Control — Jean @ 3:54 pm
The first year for new parents is the hardest. With new baby comes immense joy but also unbelievably strained finances. It is predictable that the average family will spend between $10,000 and $15,000 during baby’s first year alone. There are plenty of ways that you can slash many of your costs simply by being careful with your money and not indulging in every whim.
When you are an expecting parent and you are alarmed about the high costs of baby’s first year, make a agreement with yourself to save money. Resist buying everything in sight. Every parent wants the best for their child, but keep in mind that many of the things you buy during baby’s first year will be only used once. Buying name-brand diapers and an overpriced bassinet that you can’t really afford is not going to do your baby any favors. Save where you can, be smart about your baby’s purchases without compromising your sanity or your baby’s health and happiness.
Breastfeeding has been proven as the healthiest selection for feeding your baby during the first years. Not only is it healthier for your baby than bottle feeding, it is also more cost-effective. Doctors agree that breastfeeding exclusively during your baby’s first half year of life will help give his immune system a boost. Not only will your baby benefit from increased health, benefit from increased savings. Some mother’s are not able to breastfeed their children. If this is the case, you can save money by avoiding the brand name formula and buying the store brand or generic formula instead. Generic formula costs on average 30% less than name brand formula and, by law, must meet the same FDA standards as the brand name formulas. And don’t forget coupons from manufacturer’s get on their mailing lists. Always look past the attractive name brand packaging, because in most cases that is what you will be paying for.
Disposable diapers, always opt for the generic brand. Many larger chain stores carry their own store brand of disposable diapers which are usually just as good as the brand name diapers. You can expect to save about 30% on disposable diapers simply by buying the generic store brand.
Babies will quickly outgrow expensive little outfits. You can find nearly new or gently used baby clothes at garage sales and markets. One of the biggest expenses you will have as a new parent is furnishing the baby nursery. You can save a lot by shopping for gently used baby furniture, including high chairs, bouncers and cribs. Shop used baby stores for great deals on used baby furniture. You can also find great baby gear such as bathtubs, strollers and monitors.
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