Are you a new parent? An expecting parent? Congratulations! With all the hustle and bustle happening around you, it may be a little overwhelming to manage your money. You’re not alone. This is a struggle that every new parent experiences. Your normal routine will be disrupted along with your normal budget. So, how can you save some money? We have some great tips for you to check out while you’re learning the ways of parenthood.
1. Beware Of Hidden Hospital Costs
The expenses never end when it comes to having a child. They will grow as your baby grows, but you can pay off what you can before the child arrives. Taking care of that credit card debt or car loan will make it that much easier to manage your new budget.
2. Use A Budgeting App
It’s so easy to let the excitement overwhelm you when you’re shopping. However, to save money, you need to rein yourself in. Your baby doesn’t need their walls painted a specific color (they won’t notice). They need bottles, clothes, and feeding supplies. Concentrate on the “need” not the “want.” The wants will come later.
3. Embrace Hand-Me-Downs
You may not realize how many discounts are out there for new families. Did you know that some insurances will cover your breast pump cost? Even Amazon has discounts for those that subscribe to their “Amazon Family” monthly subscription. Don’t be afraid to look in new places for savings.
4. Join A Co-Op Babysitting Group
This may be obvious, but it’s often overlooked after the chaos that comes with delivery. Prepare diaper bags full of supplies for every occasion. If you purchase supplies as you go, you won’t have to worry about spending a lump sum on stocking up. Trust us when we say that your baby will need lots of supplies.
5. DIY Baby Photos
After all is said and done, celebrate the little things you’ve achieved. You may not have stocked up with enough diapers, but you found the perfect brand for your child’s soft skin. You may not have remembered to text your friends back, but you spent precious time with your newborn baby. Don’t be too hard on yourself. No one is perfect, especially new parents.
Did your stress levels lower just a bit? Parenthood and money management are two of the most stressful things that people experience. However, it’s important to slow down and take a deep breath. You’re going to make it through. There are ways to cut costs, as well as plenty of people who want to help. With that said, we wish you luck on your new journey, and hope that your baby is full of smiles.