Of all the costs you might incur in your lifetime, having a baby is one of the biggest and most vital. With Child Poverty Action Group reporting that the overall cost of a child can be up to £185,000 by the time they are 18. Once you factor in everything you need for a newborn baby, it can be a steep price to pay out. While there is the availability of a short term loan in an emergency and other forms of credit, saving money on any and all things baby can provide more long-term, sustainable savings.
Buy Neutral Clothes
If you’re planning on having more children, buying neutral clothes can save you money in the future. Keeping hold of anything useable can save you having to buy masses of new things all over again if you have another baby that happens to be a different gender to your first.
Check out factory shops and outlets for prams and accessories
Baby items such as pushchairs and accessories rarely go out of fashion, so if an item is a season or two out of date, it doesn’t make a difference as long as the quality is there. Outlets and factory shops are great resources for these types of items as they house older stock for bargain prices.
Buy Convertible Furniture
Convertible furniture is becoming more and more popular among new parents every day. Whether it’s a pram that can be switched around and adjusted to your baby’s needs, or a cot that will convert into a toddler bed as they grow older, the money saved in this case can exceed the hundreds. According to Money Advice Service the average cost of a cot is between £70 to £700, a pram can be anything between £100 to over £2,000 and a baby car seat can cost £100 to £400. It is easy to see just with these three items, how multi-functional baby items and items that can be adapted for future use can save parents a lot of money.
Buy in Bulk
While you need to be careful buying in bulk before your baby is born, bulk buying can be an effective way to save money when it comes to items such as nappies, snacks or baby wipes. Make sure to wait until you know what your baby likes or buying diapers or baby wipes before the baby is born could lead to wasted money if you end up preferring a different brand, or the diapers are too big or small. It’s also worth looking out promotions when buying in bulk to take advantage of the savings offered by retailers.
Don’t Buy Fancy Toys
All babies will need toys, there’s no denying that, but it’s likely that your baby won’t hold any interest in the fancy rocking horse in the corner beyond wondering if it’s easy to chew on. Young babies don’t need much more to play with than a few toys or items that are baby safe.
Don’t Be Afraid to Ask
If a friend or family member has had a baby anytime recently, it might be worth asking around to see if there’s anything you can borrow. A mother with a toddler probably won’t need their bottle steriliser anymore, and friends who have maternity clothes from their pregnancy might be willing to give up some of theirs to you during your pregnancy days.
While getting items second-hand for a newborn might not sound appealing to some, it can actually be the best way to save money. Newborns grow out of their clothes quickly, and so second-hand clothes will often be as good as new. It’s worth looking into what’s out there, you never know what bargains you can find!
You could be saving money on your day-to-day spending, through cashback websites and cashback credit cards. Cashback websites are only usually from online transactions, but your cashback could soon mount up, especially if you buy a lot of items online. You can even gain cashback from insurance, switching energy providers and internet contracts. If you shop mostly offline, a reward and cashback credit card may be a more suitable option. As long as you pay it off in full each month to eradicate any additional charges or interest.
Reusable nappies can be a good option for both your pocket, and the environment. They come in a range of sizes and material types, some with the choice of a biodegradable middle that can be easily flushed or a washable cloth. It’s always best to buy a couple of options to try first before buying in bulk as reusable nappies are not for everyone.
Last but not least, look for freebies! Joining groups and clubs can often get you different freebies, or at the very least, vouchers and coupons for money off of vital things you need for you and baby. Motherhood and maternity are always hot topics, and so there’ll always be something out there to take advantage of.
Generic advice is not a service regulated by the Financial Conduct Authority.