How To Reduce Newborn Expenses
Newborns are extremely expensive. Even when you put money aside to have a baby, you are going to be shocked at just how quickly that money is gone. As your newborn grows, they will bring more and more costs with them.
If you can quickly learn the ropes about what it takes to raise a newborn, you’ll be better prepared for the types of expenses to expect. Then, you can make a plan for how to pay for it, and how to cut down on costs while still providing your little one with everything they need.
Below are few tips you can use to help reduce the cost of having a baby and let you focus on the joys of being a new parent.
Pay Attention to Hospital Charges
One of the best ways to save money when having a baby starts at the hospital. Pass on having a private room.
The fees for these rooms vary a lot, but they are extremely expensive and usually not worth it. Also, give up on other extras such as a TV. The hospital usually does not tell you this, but most charge nearly $10 a day for TV.
It’s important to know what you will be charged for upfront so that you don’t spend a few days in the hospital racking up bills for things you did not really need.
Therefore, a good research on various hospital would be a plus and know the available packages with their estimated costs both Vaginal delivery and Cesarean section.
TIP: Always compare prices of different hospitals and what their delivery package entails in order to reduce the newborn expenses
Breastfeed your newborn
On top of that, breastfeeding will save you close to $1,500 during the first year your baby is alive. That’s right, formula is expensive, and you have to buy lots of it! Not only will breastfeeding save you money, but the benefits it provides for your baby’s health will be well worth it.
Embrace the Baby Shower
If friends or family offer to throw you a baby shower, don’t be modest—accept the offer. The whole point of a baby shower is for you to stock up on things that you are going to need for your baby.
Your friends will buy you clothing, diapers, and other necessities that will help you be prepared for your first baby. This will save you money in the long run because when you have your next child, you’ll be able to re-use the crib, baby carrier, clothing, changing table, and other presents you got at your first baby shower.
Don’t Over-buy Baby Clothes
However, newborns grow extremely fast and most of them will outgrow their baby clothes before they ever get a chance to wear all of the outfits bought for them.
You’ll most likely get enough clothes as gifts or from your baby shower to last your baby through the newborn stage.
You might have to do a little extra laundry since newborns are messy, but you’re better off not spending a fortune on clothes that will be outgrown in a matter of weeks.
Skip on Shoes
Thus, not buying shoes during the early years will help cut on these newborn expenses and help your baby learn to walk quicker.
Once again, it can be tough to resist those precious little shoes on the shelf that are just screaming “buy me, I’m adorable!” But if you can resist the urge to invest in dozens of tiny shoes, you’ll soon realize that you’re saving a bundle since your little one never wears shoes anyway.
Buy Diapers in Bulk
While you may be able to cut costs in some areas, you simply can’t cut down on diaper use—it’s an unavoidable cost. This is one area where you simply cannot buy enough.
Buying the small packages of diapers is going to cost you more money in the long run. So visit wholesale clubs, and buy your diapers in bulk. It will end up saving you nearly $200 a year.
Just pay close attention because diapers can start to become too small. At that point, it might be time to move up to the next size. If you notice your baby growing, it may be a good idea to buy smaller packages for a week or two so you don’t end up with a bunch of extra diapers that don’t fit and in these way you will have reduced these newborn expenses entirely!!
Cloth diapers are anothet alternative that can held reduce newborn expenses. However, you need to be careful as the might need to be changed frequently to avoid skin sores.
Top tip: Always check out for any adverse reactions on your baby from any diaper brand
Having kids is no small expense, but after a few weeks of being a parent, you will soon learn that the experience is truly priceless.
Although you want the best for your child, you don’t have to break the bank on every expense related to the baby. The money that you save can be put towards your child’s future! Learning to budget and cut on costs early on in your child’s life will allow you the luxury of having savings for the future, that will give your child a stable and secure childhood.
Don’t get overwhelmed by the costs that a newborn brings with it—take everything one expense at a time, and look for areas where you can save a little here or there.
With the above tips, you are now able to budget early enough whether you are a first time or second or third parent to be and give priority where necessary.