Saving money as New Parents

piggy-bank
It’s no secret that having a child incurs a lot of expenses. A lot of couples who are planning to conceive worry they haven’t saved enough to be “ready” for the baby, whereas other Moms-to-be who are caught by surprise don’t have the luxury of time to build a nest egg before their little one arrives.

As I said before in my previous post, ‘How much does it really cost to have a baby’, it really depends on the individuals involved, their financial means and personalities, how much babies cost. Since my wife and I live fabulously frugal, I want to share how we are saving money now that our bundle of joy is here.

1. Breastfeeding. Not only is human milk the best possible food for human babies, it’s free. Added bonuses: it’s convenient, always with you, and feels great for Mama and Baby (once you get past the initial ouch-ness).

2. Cloth wipes and diapers. Wipes warmers seems to have a bad rap, often listed as the most useless thing you can buy, but I think that’s because people aren’t using them for cloth wipes. We just add some water and a bit of liquid baby soap, place the folded cloth wipes inside, and we have wipes for 4 days. When they are done we do it again with our remaining wipes while the used ones get washed. It’s great! And I’m sure I don’t need to convince anyone that cloth diapers save money, and are easier on the environment too.
disposablecost

3. Second-hand clothes. This one should also be obvious. I mean, they only wear these baby outfits for a few months! Our little guy wore a few of his pajamas only two or three times before he outgrew them. Pretty much his entire wardrobe was given to us and we gladly accepted them; even the larger sizes (we have them stored in bins).

4. Craigslist. If you need anything; crib, stroller, breast pump, Exersaucer; check Craigslist first. We got a fantastic stroller for less than half the price new, and it included the car seat adapter.

5. Accepting the generosity of friends and family. When people find out you’re having a baby, the gifts just start flowing in. Aunts and Grannys start knitting, baby showers and blessing-ways are organized, and even friends of friends and people you don’t know very well suddenly surprise you with a present for the baby. One of our friends set us up with a Meal Train, and that was an incredible help in the first month. When you are adjusting to life with a newborn for the first time, dinner delivery isn’t just welcome, it keeps you alive.

6. Track your spending. As I outlined in my previous post, ‘The Newlyweds Make a Budget’, my wife and I use a budgeting app to track our spending and stay on budget. We find that this helps us manage our money well, avoid splurging, and makes saving easier. This has been even more important since I stopped working- having only one income forces you to ‘tighten your belts’ financially. All I want for Christmas is my EI Maternity benefits…

Everything considered, we are doing pretty well. With the holidays coming we are budgeting for extra expenses, but our families understand that what makes Christmas special isn’t extravagant gifts- it’s thoughtful gestures, homemade treats, and quality time together.

So to all you thrifty parents out there, how do you save money?

Advertisements

4 Comments (+add yours?)

  1. Gary Ockenden
    Feb 26, 2014 @ 13:10:25

    You’re a smarty! Giving up expensive scotch and foreign trips helped me when ours were tiny…but it wasn’t a choice 🙂

    Reply

  2. Emily
    Jan 19, 2014 @ 16:16:53

    Finding parent groups in the area! Like Parents on the Drive – so much free stuff is handed down over and over again to people who just want to pay forward the good stuff they received.

    Reply

  3. Robyn
    Dec 04, 2013 @ 11:02:03

    Great suggestions! I’ll add to check Kijiji as well as Craigslist, and to sell what you’re done with. I’ve made my own disposable wipes and used a spray with cloth wipes…but haven’t tried the pre-made cloths. Do you need to keep them in a warmer? Could I make up and keep in an empty wipe box?

    Reply

    • practicaldiva
      Dec 04, 2013 @ 14:07:05

      Yes, Kijiji is great, as are deal sites like Zulily and Baby Steals. 😉
      No you don’t need to use a wipes warmer- it’s just a little luxury for the baby’s bum, and a good way to use it if you have one and found they weren’t working well with regular disposable wipes.

      Reply

Leave a Comment

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s