Being a parent is a wonderful experience, but this role comes with plenty of worries too. One of the biggest concerns that new parents face is financial struggle. Providing for a growing family is not an easy task, but here are four tips and tricks you can use to save money.
Use Cloth Diapers or Buy Disposables in Bulk
Diapers can be one of the most expensive items a new parent has to purchase. Some parents choose cloth diapers as a way to benefit the environment, their baby’s skin, and their wallet. This is a great idea but as Forbes says, the up front cost can be pretty high, and new parents don’t typically see the financial benefits until the second or third year. However, once the initial cost is over, cloth diapers can be a huge money saver. This is especially true if you are planning to have more children.
If you aren’t interested in cloth diapering, be sure to buy your disposables at Costco or Sam’s Club. Buying your diapers in bulk is a good way to save, but don’t do this until you know what works for your baby’s skin. Otherwise you could have an enormous box of diapers that you can’t use.
Join a Baby Club
Some stores have baby clubs. These clubs provide discounts after you have spent a certain amount of money on specific baby items. For example, you might get $10 off of your next purchase after you’ve spent $100 on formula, diapers, baby wipes, etc. You can call your favorite stores to see if they have a baby club, or go online to find a store with a similar program.
Breast feeding does not come naturally to every woman but if you are able to nurse your child, you can reap some great financial benefits. According to womenshealth.gov, formula can cost around $1,500 per year. Breast milk is free, and it is incredibly nutritious for your child. Plus, some studies show that breast-fed children tend to get sick less frequently, which cuts down on the cost of medical care as well.
Don’t Buy Everything
There are so many great baby items, but you won’t actually need most of them. It can be hard to reign in your spending, but try to just buy the essentials until your baby arrives. Only buy one or two bottles instead of stocking up on ten of the same brand. It may be a great brand, but you won’t know if your baby will take that type of bottle until he is born. If he isn’t able to use it, then you’ve wasted money on those bottles and you still have to buy more.