How to Prep Your Budget for Unexpected Baby Costs

Having a baby is an exciting time in any expecting parent’s life, and I’m sure you are anxious and ready to meet your little one. Here’s the truth,  though: There’s a lot more to having a baby then posting pictures on Facebook and changing a dirty diaper or twelve.

Let’s face it: Having a baby is expensive and if you don’t prepare for the costs, you may find yourself struggling to pay for necessities. Below are a few basics tips that you can use to start to prepare for those unexpected baby costs.

Save on Baby Formula When Possible

Baby formula is expensive; it can cost you up to $2,500 per year! A great way to keep costs down is to buy baby formula in bulk. Stores often have sales and buying items in bulk when they are discounted is a great way to provide more spending power to your hard earned dollars. In addition to buying in bulk, consider breast-feeding your child as long as possible so you can cut down on the amount of formula needed or possibly avoid buying formula altogether.

Buy Diapers in Bulk

Diapers are an essential to babies for obvious reasons. Unfortunately, diapers are expensive! Our tip to you is to buy your diapers in bulk and search everywhere (including online) for deals. Typically, warehouse clubs and big box stores have better prices on baby essential than baby stores. Additionally, you can consider using cloth diapers. Now, cloth diapers are little more expensive at first, but you do get more bang for your buck over the long run. Whatever you decide to do, wait to purchase until you are certain you are getting the best possible deal.

Wait To Purchase Baby Essentials

I know you’re excited to buy your little one all the essentials that they need, but I’m telling you to hit the pause button. Chances are you will be having at least one baby shower and people will be bringing you gifts like it’s their job (which it kind of is at your baby shower). Before you make your next trip to go baby shopping, wait until you know what you truly need to buy.

Borrow Items from Friends

Women, especially women who are already parents, love helping out expecting parents. The moment that you announce that you are expecting to bring a child into this world, expect to be receive offers of gently used items such as cribs, clothes and even car seats! This practice of sharing baby items actually is quite common and it can save tons of money. Before you run to the store to buy items that you don’t necessarily need, wait until you have come out publicly with the news that you are pregnant so you can see what you can borrow.

Look Into Parental Leave Benefits

If you want to maximize the time that you have for activities with kids and bond with your new baby then you need to take the time to learn your parental leave benefits. Policies vary by state and employer, but typically you’ll be assured four weeks of paid leave. Some states such as California offer 12 weeks of paid leave. You need to do your research to see what is available. Remember, knowledge is power.