5 Ways to Save Up for Baby
No matter whether it is your first child or your tenth, having a baby is an exciting time for everyone involved. Often, parents who make it a goal to get pregnant have plenty of time when it comes to saving up for baby; however, the welcome news for other parents may take them by surprise and leave them less time to get a savings plan in order. These money-saving tips for babies on the way give parents a chance to save cash before that big day arrives.
Let Them Shop Til They Drop
Creating a baby registry is a must for expecting parents. Early registration gives people more time to save and shop so they can get gifts they want to give instead of maybe the only ones they can afford on short notice. Hold a baby shower early enough in the pregnancy to give you time to pick up items you are lacking. Pottery Barn Kids helps parents in creating a registry, offers discounts and even has specialists that provide in-store assistance or come to your home for free to help you design the perfect nursery. This resource gives you an idea of how much you need for the nursery budget, as well as other baby essentials.
Make Saving a Priority
Saving for baby can begin as soon as the good news arrives, if not before. Try to create a budget that allows you to put a certain amount aside each payday and stay consistent. Adding extra funds whenever possible helps you prepare for unexpected expenses. Making saving a priority is easy and feels exciting when you remember you are preparing to welcome a new baby into the family. It is okay to spend money on essential items like baby bottles, just resist the urge to go overboard on the amount you buy.
Think for the Future
Thinking for the future means thinking beyond the needs of a newborn. For example, if you are buying a crib, think about investing your money in a crib that converts to a toddler bed. Convertible cribs come in styles that fit any nursery decor, and they are easy to blend into a toddler room later. It is a good idea to take measurements before deciding on a crib style to ensure it fits the bed space available.
Consider Child Care Costs
Child care costs are sometimes one of the biggest expenses that many working parents have in their budget. Saving for child care is easier when you know who is caring for the baby when it's time to go back to work. Check with family members to see who might be willing to babysit, as relatives often give you a good rate or possibly even watch the baby for free. Double up on certain requests for baby supplies to include an extra bed or toys that caregivers may not have for baby.
Keep an Eye Out for Sales
Merchants often offer discounts or special deals that can save parents extra money, especially when it comes to items like diapers, clothing, blankets and other essentials that a child goes through quickly. Try to take advantage of these savings for kids of any age and keep more money in the family budget.