There’s no doubt about it – babies are expensive. If you make some smart budgeting decisions, though, you can avoid going broke after the birth of your little bundle of joy. Here are 10 top tips for preparing for a baby on a budget.
1. Know Your Insurance Coverage
Before planning to have a baby, take a good look at your current insurance coverage. Contact your insurance provider and ask exactly what will be covered and what won’t – how much for the labor and delivery, if prenatal visits are covered, if bloodwork is included, etc. Knowing what your insurance will cover will help your budget later on.
2. Open A Baby Savings Account
One of the top tips for preparing for a baby on a budget is to put away money during the pregnancy. Start a savings account dedicated to baby expenses and put away money each month. Even if you don’t manage to save much, it’s nice to have a cushion for when the baby arrives.
3. Borrow From Friends And Family
Don’t be too ashamed to ask friends and family for baby gear and maternity clothes. You’ll only need these things temporarily anyway. There are some things you shouldn’t take used, like car seats and cribs, but most other things you can borrow.
4. Get A Diaper Subscription Ahead Of Time
One good way to prepare for your baby if you’re on a budget is by subscribing to a diaper delivery program ahead of time. You can start stockpiling diapers and take advantage of the discount offered with a subscription service.
5. Start A Side Gig
Put away some extra money by starting a side hustle during the pregnancy. Working another couple of hours a week can boost those baby savings.
6. Contact Companies For Freebies
Send emails to baby food and baby supplies companies saying you’re expecting and would love to try some free samples. Some businesses might refuse but others will be happy to send you free samples.
7. Learn How To Meal Plan
Get into the habit of meal planning before your little one arrives. Meal planning – when done right – saves a ton on groceries. You’ll be tempted too easily to resort to fast food and convenient meals when you first bring baby home. If you have a solid meal-planning base already, you can overcome these temptations and continue to save money.
8. Buy Only The Essentials
Preparing for a baby on a budget means realistically evaluating what you need. After reading store catalogs and parenting blogs online you might get carried away when you make your baby registry. Ask other parents what they found the most useful and only stick to buying the essentials. Many things you can end up borrowing.
9. Make Your Own Baby Food
There are tons of recipes for baby food online that are healthy and safe for your baby. Store-bought baby food is seriously marked up, so stay on budget by making your own. You’ll also know exactly which ingredients go in your baby food if you make it yourself.
10. Consider Cloth Diapers
Cloth diapers may not be for everyone, but they’re a great way to stay on budget with your baby. Cloth diapers are widely available online. Not only will you save money but you’ll also promote sustainability.
Preparing For A Baby On A Budget – Final Thoughts
With these savvy budgeting tips, you can cut down on baby costs. Don’t let your financial situation keep you from enjoying one of the greatest joys in life.