Staying on Budget with a Baby

A tiny baby on the way can mean big changes are also on the way when it comes to your budget. With some planning, however, you can prepare for changes and minimize unexpected expenses. The truth is, infants don’t actually need a lot of stuff.

We’ve compiled a short list of simple things you can do to keep your wallet from shrinking when your family is growing.

Avoid Overprepartion

There are some things you will never be fully prepared for as a new parent, like the feeling of holding your baby for the first time. But when it comes to material goods, it doesn’t take much to be prepared. Spreading out large purchases based on when you will realistically need them can help prevent going over budget before the baby arrives.

Differentiate Between Essentials and Extras

You may have heard about the Baby Box new parents in Finland receive when they leave the hospital. The box contains essentials and a few extras for the first months of a newborn’s life. It includes a small mattress, bed linens, onesies, bath sets, and cloth diapers. While your individual list will vary with specifics, this covers the basics. Babies need a carseat to leave the hospital, something to eat, a safe place to sleep, clothes to wear and bathing supplies. 

Register Selectively

Creating a list before you register can help you stay focused on what you really need. If your registry has a lot of extra wish list items, your friends and family could shop exclusively from your registry and still not help with any of the essentials. The only exception to this would be larger items you will definitely need but not right away. Most places will give you a discount to purchase items that you registered for but did not receive after the baby is born. Some of these discounts can be as much as 20% - so go ahead and register for that larger car seat or stroller.

Reduce, Reuse, and Recycle

Environmentally conscious choices are often also budget conscious choices. Clothing and gear for babies almost always is still usable long after they have been outgrown. For this reason, accepting hand me downs and buying gently used baby items are great options. Seek out local children’s consignment stores and consider joining baby-focused sales groups on Facebook. Additionally, if your area has a parents of twins or multiples club, these non-profit organizations often have seasonal tag sales filled with clothing and gear that are open to the public.

Friends and Family - How You Can Help

If you are buying for expecting parents, there are a few ways you can ensure your gift is exactly what they need.

If you are a parent and noticed something you needed is not on the registry, go ahead and pick it up for them. Just make sure to get a gift receipt in case they already have one. 

Consider giving premade freezer meals or, if you’re not much of a cook, gift certificates for groceries. Offsetting routine expenses, like groceries, with a gift card can allow new parents to save their anticipated food budget for unexpected expenses.

From bottles to booster seats, babies are big business. Infants don’t care, however, if the onesie they spit up on is namebrand or secondhand. As parents, we all want the best for our babies and that can make it tempting to overspend. Avoid this temptation with a little planning so you can spend what's really important with your baby - your time and focus.