Congratulations on your newest family member! As you enjoy your new bundle of joy, you don’t want to stress about money. Yes, the first year with your new little one is expensive. Yet, there are some ways you can save money during this precious time.
You can start your savings plan before the baby arrives. As you prepare for your baby shower consider the needed things versus the nice to have. Think about having a diaper shower. Ask your friends and family to bring a variety of sizes since baby grows quickly during this first year. You can also set up a special savings account that continues to grow during baby’s first year and beyond. Choose a specific amount of your paycheck to go directly to this account. This way you won’t have to worry about remembering to make the deposits.
Are any of your friends or family members also expecting? Plan to swap clothes and other reusable items with one another. Not only does this keep special outfits going, but it’s also a great way to save money on clothes. Babies grow quite a bit and just when you think an outfit will fit, it won’t. Swap for the next size and you help yourself and either a friend or family member in the process.
Daycare is expensive, both on base and off. Instead, then spending money on a formal daycare ask your family members to babysit. If you happen to live close to the baby’s grandparents, they will love this! They will love bonding with their pride and joy. It also gives the grandparents long term health benefits by keeping them active.
The idea of expanding your space to fit your expanding family is a nice one. Yet, it is not a prerequisite. Unless your active duty spouse gets a new duty assignment, stay in the place you currently call home. Not only does this save money, but it can also save headaches. It helps when you have new parent brain to know the location of anything you need for midnight feedings. It’s also good to know the layout for midnight laps. These are laps you walk when your baby doesn’t want to sleep, and you don’t want to wake the other parent up.
Thrift stores are a new parent’s best friend. As your little one grows out of certain outfits, you can sell them back to some stores for money. They are also a great place to stock up on things like onesies. Ask about and sign up for any reward programs the store sponsors. This way you can save even more money and get rewarded for needed purchases.
Save money on postnatal workouts. Instead, take your bundle of joy out for walks. They get to experience the world, and you get a good workout in. Plan these walks around the local yard sale schedule to add in shopping to the day. Bring bags with you. Keep in mind the prices of a yard sale can vary. If there is more than one in area check prices before you buy clothes and other items.
Check with your duty station and see if there are any mommy and me classes. Enjoy these classes with your little one while you connect with other new parents. Yes, dads can take these too. You can swap ideas, recipes, and other information and learn a few things while making new friends.
Baby’s first year is full of moments you want to capture and remember forever. Not only are the best pictures natural, but moments happen at all hours. Save money on professional photographs and invest in an extra SD or microSD card.
Chances are good you’ve heard you need to buy a laundry list of things for baby’s first year. Here’s the thing, your baby is unique. You don’t have to buy everything at once. After you get a place for them to sleep, a safe car seat, some clothes, and feed supplies you can buy other things as needed. Perhaps your baby enjoys a swing, and maybe they don’t. Instead of buying it early, wait and see what baby thinks.
The first year is full of development. Yes, your baby needs toys to stimulate their growth and development. They don’t need the entire toy aisle though. Keep the options to a minimum that you can switch out as baby grows and you start to learn what they like. You can also save money by sharing some family hand-me-downs. Make sure they don’t have any loose buttons, eyes, or other potential hazards.
Babies and teenagers eat quite a bit. In this sense, you can prepare for a baby like you do a teenager, make your own baby food. Not only does it save you money, but you also get peace of mind knowing what your new addition is eating at all times.
For more information about saving, contact Marine Federal Credit Union. We look forward to answering your questions.
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