Money is the biggest deciding factor when you plan on having kids and starting a family. Ironically, the timeline for saving money for new parents starts when they are on the way to building family, and home, because once you have kids, your expenses go steep way faster.
Minimalism is a positive change you can bring to your lifestyle when you are on the track of saving money. Nevertheless, spending wisely is something anyone can follow with proper budgeting and avoiding unnecessary purchases.
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Money-saving tips for new Expectant parents
When you become a parent to a child, there is no such thing as saving money. It’s all about basic provision, meeting needs, and giving a quality life to your family. Slowly, you realize that you need extra income streams to get some money saved for the future.
Money-saving is a reality that is going to hit you sooner or later. Parenting is hard and more stressful if you have one income source – one income and more mouths to feed. This does not necessarily mean that you cannot survive on one income when you have a baby; you certainly can, but the quality of life might differ for each family.
I have always been a spendthrift, and I would always be, I guess. But now, as a mom of two kids, my focus has shifted altogether. I have learned my lessons from various experiences about what’s necessary and what makes you save money.
1. Breastfeeding can save you tons of money
Breastfeeding is the natural way of feeding babies, and it is not going to cost you a penny. Formula milk is expensive, costing you one container from $30 to $40. And once the box is open, it is good for 30 days. To save all that extra dollars, breastfeeding is the best course to choose.
If you are a new mom, the best way to save money is by exclusive breastfeeding or using a combination feed. Breastfeeding can be stressful for moms, but once you establish the milk supply, it is a great way to save money and shed those extra pounds. Additionally, your baby is getting the best nutrition like no other.
2. Save money by Making baby food at home and freeze home-cooked meals
New parents spend a crazy amount of money on baby food; at some point, we all have to. A few years ago, a lady at a local grocery store spent $400 on twin babies’ food. It might be normal for parents with twins, but it is a lot to pay for food regardless – even if you are working or staying at home. However, it is up to parents’ preference and completely fine if they can afford it, as they are paying for convenience.
Preparing baby food at home and freezing it can save you a lot of money. When you have kids, a lot of food gets wasted. Instead of using packaged food, you can make fresh organic food and freeze it for much lesser money than you have to spend on store-bought meals.
You can find some awesome baby food recipes if you have time to make frozen baby meals at home.
3. Cloth Diapering can save you a lot of money
Cloth diapering is another frugal way to save a good amount of money, as your baby will stay in diapers for about 3 years. However, cloth diapering has its own pros and cons, and you end up paying for detergent and laundry services.
If your child is ready, you can start potty training around the age of 2. That way, you will be able to save more money.
4. Do not buy too many toys for kids
Toys are great tools to enhance your child’s mental development and growth. Ideally, you should be getting toys when your child starts to understand and enjoy playing with them. Getting age-appropriate toys is very important.
Kids easily get bored of toys they already have. Try not to develop the habit of getting more and more toys every other day.
Buying toys occasionally is a great way to maintain the charm and excitement for new things. Save money now so you can spend it later when they grow up and make requests for their favorite toys.
Do you have too many toys already? Learn how to declutter and simplify your kids’ toys.
5. Do not buy too many newborn size clothes
Many expectant parents tend to make the mistake of buying a bunch of newborn clothes and accessories that your baby grows out of too soon.
Pregnancy is the most exciting time to start baby preparation, and all your shopping for the newborn seems so much fun. But let me tell you, DO NOT BUY too many clothes for the first year. Newborns tend to grow out of small sizes within weeks, and you hardly get a chance to dress them up in three outfits a day.
6. Do not buy unnecessary baby products
Baby shops have so many different products. In the beginning, just get what is essential for you and the baby. Do not get everything that happens to be available in the market.
If you are tight on budget and not tight on love, you still do not need wipes warmer unless you are living in a super cold climate where there is no heating system.
7. Understand your space
As a new parent, you want to have anything and everything for your first child. But, for that, you have to understand the space and configuration of your house; you cannot stuff everything in a small room.
8. Do not buy too many toys that become a source of mess and increase your stress
As I said, do not buy too many toys when they are too little to play with them. Moderation is the best approach. Too many toys are overwhelming for moms. Not only it increases stress, but also it is going to be pretty expensive for your pocket.
Here are the 10 tips for moms to stay on the budget.
Do not fall into new mommy’s trap of buying everything available in the market. Make your life easy with less stuff and more contentment.
Get this pretty money-saving envelope binder that will keep you on track of your savings and help you plan everything according to your circumstances.