6 Tips for Saving Big with a Newborn Baby

6 Tips for Saving Big with a Newborn Baby

With a newborn baby comes newborn expenses. Take advantage of these simple money-saving tips with your new addition.

One of the biggest shocks with a newborn baby is the tremendous cost. This is especially true for first-time parents who truly have no way of knowing what they don’t know. With the excitement of a new addition to the family come baby showers and gift registries filled with new and nifty gadgets. In reality, you could fill a room with nothing but diapers and baby clothes, and still need more by the time you’re through. Ergonomic voice-activated warming potty-chairs aside, here are a few simple ways to save on the necessities:

1. Buy bulk: This can be more difficult if you’re tight on money, but if you’re able to take the long view, you can save a lot in the end. Sure, the box of 30 diapers costs way less than the box of 150, but the price per diaper is more than double! The same goes for formula, food, and all the other necessities. You’re going to burn through stores of certain items, so find the best price per unit, and stock up.

2. Use rewards points: Sometimes it makes sense to purchase the same brand over and over if it’s a good fit for the baby, and many brands and stores offer rewards points. Signing up only costs time, and you’ll end up with discounts, coupons, and freebies — take advantage.

3. Get free samples: Try as you might, free is hard to beat. Try to start signing up before the baby arrives and you can build a nice stockpile. Just visit all the big brands’ websites, and they’ll often send you a week’s worth of product and tons of coupons at no cost.

4. Create simple toys: Never underestimate the power of an empty box and a pack of crayons. Indeed, most parents have witnessed a baby or toddler ditching an expensive toy to play with the giftwrap, bow, or packaging. It requires a little more interaction on the part of the parent, but be imaginative and creative. There are plenty of simple toys that your little one will enjoy more than something with flashing lights and loud (obnoxiously loud and annoying) music.

5. Make your own food: This has a dual benefit. Not only does it cost less to make your own baby food, it’s healthier for the baby! Get a blender or food processor, and do a few online searches for fruit and vegetable combinations. Once you do it a few times and hit your stride, you can knock out a whole week’s worth of food in 30 minutes, and for well under $10.

6. Evaluate day care: If you don’t have other options, this will easily be your greatest expense. Full-time care for a single child can be well over $13,000 per year. It pays to thoroughly explore all options from friends and relatives, to part-time care, to re-evaluating whether or not it makes sense for one parent to stay home for a few years. Sit down with a pen and paper and do the math.

The cost of a new baby can be a bit of a shock, but stay vigilant and savvy, and you’ll be able to make it work. You’ll hear it a thousand times from other parents, but it truly does fly by. Before you know it, the baby is out of diapers and going to school. Enjoy the moments while they’re there, and take the monetary speed bumps in stride.

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