First and foremost, congratulations on preparing for this amazing new chapter. Planning for a baby is an incredibly exciting time and should be a cherished period of celebration.
Oh yes, we hear you loud and clear – but….am I financially ready? Preparing for the arrival of a newborn involves a few financial adjustments in order to welcome little bubs into your life. Don’t worry, we here at Feeding Friend have prepared a list of tips on how to plan for that little miracle on a modest budget.
Start a baby fund
Start saving as soon as you begin planning for a baby. While a monthly budget will usually leave a little leg room for money to spare, consider starting up a new saver account for a baby fund. Simply set up a monthly direct debit to transfer a set amount of money to the baby fund account until the baby arrives. This will leave you in good standing for when the baby finally arrives, household income will naturally drop during this time, but you will be well prepared as your baby fund account will cover additional expenses.
Accept hand-me downs
Toddlers outgrow their clothes in a matter of weeks and months. So there is nothing wrong with graciously accepting your niece’s dresses in order to cut corners. Don’t be afraid to ask family and friends if they have some barely-used clothing sitting in their closest that they wouldn’t mind lending or giving away.
Make a checklist that includes the basics – stick to it!
Yes, the newest baby gadget can be oh so tempting to purchase. But is purchasing that gadget a dire nescessity? Probably not. If this is your first baby, try and limit yourself to just getting the basics. Leave room for the pleasant surprise of baby shower gifts too! Bubbas grow too fast to wear all the outfits they are given, so it makes sense to limit yourself and then see what you really do need to buy. Make a well thought out checklist and ensure you stick to it.
Breastfeed > Formula
This one goes without saying. Not only is breastfeeding healthier for a growing infant, but you will be saving a lot. Baby formula can be expensive, so if you can help it – stick to breastfeeding your infant for as long as the little one needs. Don’t forget, our Feeding Friend pillow will provide you with the support needed during lengthy feeding times.
Explore multi-purpose products
There are plenty of baby products on the market that can be used for an array of different things. This saves time, money and space – who could ask for better? Create a list of multi-purpose products and include these products in your checklist.
Creating and organising a solid budget prior to the arrival of your infant will allow for a more seamless transition into parenthood. Whether this is your first or third child, having an organised system in place will work wonders in preparation for your growing family.