Having a baby can be exciting and overwhelming. At the same time, it can be financially burdening—especially if you if you didn’t plan ahead.
According to a report by Investopedia, parents spend around $12,000 on their bundle of joy in their first year – though this includes medical bills, baby accessories and miscellaneous expenses.
So unless you’re swimming in millions, it might be best to plan a budget for your baby and do your research on the right products to buy so you don’t end up with money problems.
How Do You Budget Your Baby’s Essentials?
While it is tempting to buy everything you see at your favorite baby shop , the best way to stay within your budget is to limit yourself from going overboard.
You know you don’t need shoes for your newborn— there’s no need to buy them.
Seek help from other parents who’ve recently had a baby. Ask them which baby products they’ve yet to use and strike off those items from your baby items list. You’ll save a lot if you just do a bit of research.
Aside from the essentials, forgo purchasing some luxury items (like that rather pretty stroller) until after the baby is born.
Mark the Essentials
During the first few months, you’ll only need a few essentials to take care of your baby. Those essentials will include:
- Clothes– six onesies, six sleep suits, 4 pairs of socks, some hats and at least 4 blankets
- Bed– do not bother buying bet sets with extra pillows, they’re only meant to be decorative and don’t serve any purpose for the baby
- Wet wipes
- Car seat
You’ll find a packet of onesies on any baby store for a good price. When buying certain items though such as blankets or diapers, look for eco-friendly options in quality baby products.
Companies such as Genio Baby offer Sherpa fleece blankets for an affordable price, each made with high quality fabric and soft material so babies get the comfort they need. And since these blankets are ideal for long-term use, you get an essential that you can use for next few years.
With such products, always buy from the most reliable name in the business. Your baby’s skin is sensitive. It won’t do to buy cheap clothing or blankets.
As for diapers, opt for the newborn cloth diapers. More affordable than disposable diapers, cloth diapers are easier to use and eliminate any chances of your baby getting an allergic reaction because they were susceptible to a chemical used to manufacture those diapers. The fact that they’re also beneficial for the environment is just a bonus.
Shop for the Best Deal!
Economy-wise, it’s not that difficult to raise a baby. You just have to use the information and the resources at hand to bring that budget under control.
Use coupons and newsletter sign-ups to benefit from some great deals and discounts!