How To Survive Parenting On A Baby-Sized Budget
Regardless of your income, new parents often feel the pinch when bringing a new family
member home for the first time. According to NerdWallet, a lower-income family can still expect
to spend $20,000 or more on their baby’s first year. If you are already in a cash crunch, keep
reading for these tips brought to you by Lowcountry Lactation Station on how to give your baby
everything he needs, even on a limited budget.
Prioritize.
Your first goal as a parent is to prioritize those things that are most important. Obviously, food,
shelter, and medical care are at the top of this list. However, do not neglect both the essentials
and luxuries that will have a lasting effect. One example here would be photos of your newborn.
And don’t skimp out on clothing, such as a comfortable maternity nightgown, that can help you
feel comfortable during your pregnancy and after.
Shop around.
There are some baby items you can’t skip — diapers, wipes, clothing, and formula are among
these. This does not mean that you can’t shop around. Compare prices, and look for
promotional codes or coupons at big-box retailers. Stock up when you can, and remember that
buying bulk is usually less expensive than buying only the minimum you need to get by. Not
only do you save on the per-unit cost of the products you need, but you also make fewer trips to
the store, saving on gas and vehicle wear and tear.
Buy used.
Diapers, wipes, and food all have to be new, but there are lots of other things that don’t.
Clothing, toys, bedding, and other baby gear are typically only used for a few weeks to months,
and many parents are eager to sell them and make space as their little one grows. Most cities
have at least one baby consignment shop, but you can also shop online at Kidizen or similar.
Before you buy used gear — including beds, toys, car seats, and strollers — check for recalls.
Maximize your space.
Many new parents rush to invest in more space as they await the arrival of their bundle of joy.
Chances are, this is an expense that can wait at least a few years. As Dave Ramsey explains,
the median home price in 2020 is more than $300,000. This can easily translate into a mortgage
of $1,500 or more per month. If you are already comfortable with your current payment, plan to
maximize space instead of buying new. Make do with what you have, and save what you would
spend on a down payment for your baby’s college fund or a rainy day.
Trade services.
Even the best and most excited new parents need a night out every once in a while. Budget for
a monthly date night, but skip the sitter fees. In addition to grandparents and aunts and uncles,
you likely have plenty of other babysitters that won’t charge for the honor of spending an
evening with their favorite tiny human. You can even swap out babysitting nights with your other
mom friends so that everyone can enjoy time with their significant other without putting a strain
on their personal finances.
Having a baby changes everything, including the way you spend your money. And if your family
is relying on just one income for your baby’s first year of life, the impact will be even more
profound. But less money and less spending do not have to equate to a lesser quality of life.
The above tips can help you get through the first year without sacrificing what’s important.
Lowcountry Lactation Station aims to support the breastfeeding relationship through
professional and compassionate care. Contact us at (843) 532-6310 to learn more about our
services.
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