Budgeting for a Baby

If you’re expecting, you may get more then you were expecting, in the sense of the budgetary changes and modification needed. Preparing for a baby is a flurry of activity like stocking up on baby supplies and setting up a nursery, but those kinds of things can cost a lot of money. You can have a baby shower but not everyone has a lot of money to help buy the big things that will be needed right away, so for that you must budget and save. Finances play a big role in those three trimesters, as parents figure out how to pay for everything, especially if moms cutting back on work. It’s hard enough that your body is going through some big changes physically and emotionally, but you still need to keep a clear mind to manage all the preparation for the baby.  While you’re taking steps to prepare for baby, why not prepare your budget.

Start cutting costs now to make room for ongoing expenses. You can even start buying supplies like diapers ahead of time. Some couples even build a mom fund into their budget during a pregnancy and set aside money in advance. Money in the mom find may mean sacrifices in other areas but it will help you both make the adjustment before the baby arrives. Of course it’s hard to know how much a baby will impact your finances if you’ve never had a baby so be sure to seek out trusted advice. Even talking to other parents you respect, can give insight into the costs ahead and clever ways to save. This all of course is depending upon what your

budget is like, either way it’s important to know what you’re spending and where. There are tons of online tools you can look

up like the baby cost calculator where you can literally put in all of your different choices and the separate costs. You can estimate child care if needed, what kind of diapering you’ll be using, what your feeding, how your feeding, clothing, college savings, medicine, toiletries, toys/books/media and it will calculate what that will cost in a year. Just remember that it is only an estimate of costs and the real cost could be more or less, just don’t be alarmed because babies can be very expensive.

When babies and children are young it’s great to buy already loved clothing, they grow so quickly and so many people get baby clothing as gifts etc. so you don’t need to go all out and buy all new. Also if you’re baby clothing is in good condition when your child outgrows it; don’t be afraid to re-sell it. When shopping for food, toiletries, and other associated baby needs, take a look through your local store flyers for sales and promotions happening that might save you a few dollars. When you have a baby you know there will be things you’ll constantly go through, so buying in bulk is another great way to save money and also save time shopping. Do an online search about being a new parent and sign up for free samples with different baby product brands, you can receive coupons and samples as well was information and charts that will help you through parenthood.  That addition to your family won’t mean an addition to your expenses, but it is an investment you’ll never regret.