How-to: Still Save Money With A New Baby
When you are so used to spending money for only the two of you, you are going to flip out when you see your expenses after your baby is born. However, if this is not your first child, you may already know how financially brutal it can be when you have a new addition to the family.
A child is life-long financial commitment. From a newborn, he/she will grow into a toddler, then a preschooler, a tween, a teenager, and finally an independent grown-up.
The above timeline could span over 18 to 22 years (or more), and it is not cheap.
So, if you want to ensure you are able to consistently provide for your family, you need to start cutting your expenses, even with a baby in the family. It’s possible if you follow these five useful tips:
1. Don’t stock up too much in advance
Parents can get pretty excited when there’s a new baby on the way. This is especially true for first-time parents. In most cases, they tend to spend more out of excitement than necessity.
We get it. It’s not easy walking away from another pair of cute mittens and booties but you really need a strategy when you are shopping for your baby’s new wardrobe.
Babies outgrow their clothes in mere months. And they don’t really need a huge selection on their wardrobe when they spend more time sleeping than awake.
Shop for the essentials only, such as some thin, breathable rompers or two-pieces for day, warm and comfy pyjamas for night, and a few sets of outfit for going out (or for your Instagram photos).
It also makes sense to buy clothes in gender-neutral colours, especially if you are shopping before the arrival of your baby. There are many instances where a baby girl turns out to be a baby boy after birth. Plus, gender-neutral colours could also save you money when you have your next child.
Feeding your baby with breast milk is recommended by doctors and parents around the world because of the nutritional benefits it provides to the child. Other than being the most nutritious option for your newborn, it also saves you money.
Although breast pumps are expensive generally, but it’s a one-time cost that can save you a lot of money compared to buying baby formula milk in the long-run.
There are many options available for breast pumps, you can consider borrowing from a friend/relative, or buy preloved from other mothers (more about this in the next point), or even rent it from selected hospitals.
Breastfeeding can be tough, and some people may not be able to produce enough milk to feed the baby. Hence, don’t rush into buying the pump or the nursing-friendly dresses because you may not be able to breastfeed by the time your baby arrives.
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3. Buying preloved is the way to go
Not just the breast pump can be purchased preloved, you can also buy items like baby crib, clothes, toys, swings, high chair, and other things preloved. This is a no-brainer for parents who are looking to save a few bucks.
Other than shopping online via Facebook groups, mudah.my, or Carousell, you can consider shopping at garage sales. Garage sales could be your favourite hangout place from now on.
You can get a cute ladybug onesie for just RM10-RM20. Find out when is the next garage sales by following the garage sales pages on Facebook or Instagram.
If you want to spend on big ticket items like swings or cribs, look for a good quality preloved one, so it can be reused for your next child, or resold again when you are done with it.
4. Make your own baby food
When your baby turns six months old, you will get the chance to explore solid food with your child. Hold the mee goreng and fried rice, solid food for six months old consist of pureed fruits or vegetables.
A packet of Heinz Organic Pear, Banana & Blueberries Pureed cost RM7.29. That’s a meal for your baby. Instead of spending that every day, you can easily whipped up fresh and healthy vegetables or fruits puree for your child.
It’s ridiculously easy! Buying baby foods mean extra spending that you don’t need. So why not just prepare your own baby food and you can guarantee it is healthy and delicious too since you can taste it before you give it to your baby.
Steam and blend those veggies and fruits and your baby will be packed with extra nutrition from the food.
5. Spend on diapers
Now, this may seem odd because most branded diapers can be quite pricey. However, we don’t believe in being penny wise, pound foolish. If you spend more on good diapers, you won’t have to worry about spending more to replace other more expensive things in your home.
For example, if you spend on a cheaper brand or generic brand diapers, you may have to fork out more to replace your carpet, couch or mattress at home when an accident happens.
Low quality diapers may also cause nappy rash on your baby frequently, and this could lead to more expenses to the doctors or on medication to treat that.
Don’t be stingy on things that can affect your child’s well-being, such as medication and diapers. Even when buying better quality diapers you can still save some bucks, by buying in bulk when there is a promotion at the hypermarkets, or using cheaper diapers during the day, and switch to the heavy-duty ones at night.