6 Financial Hacks To Take Note Of When You Have A Baby
Babies bring home overwhelming happiness and joy you never knew you could experience. However, a baby also invites expenses, burning a hole in your pocket. That being said, it's okay, we have picked out six ways to deal with this crisis so that a baby doesn't leave you broke.
1. But nappies in bulk
As essential and helpful as diapers are, their cost could add up to a lot. A good solution for this would be to buy them in bulk! When you have a child, diapers never go to waste, so as soon as you see a sale, dive right into it!
2. Don't do the same with clothes!
Avoid buying clothes in advance. Babies grow fast. So, by the time your child gets to that pretty sweater you bought her, she's probably already grown out of it. Try going shopping more often, but shop less every time. This way everything you buy, will actually come to use.
3. Make your own baby food
Once your child starts on solids, opt for making your own baby food rather than shelling out cash over packaged food. This is the healthier and cheaper option. Boiling vegetables and fruits, and mashing them will make your child a healthy and delicious meal.
4. Count on hand-me-downs
When it comes to cribs, strollers or high chairs, there's no shame in depending on hand-me-downs. These things are expensive and in the long run, pretty much useless. You're probably doing yourself a favour by taking it off the hands of parents who no longer require it, plus you get to save a ton of money doing it.
5. Carry a baby bag with ALL the essentials
There's one thing we do know about babies, they're unpredictable! So, when you think of taking your baby out, be sure to have a baby bag with everything and we mean ‘everything’ in it. We’re talking juice boxes, extra clothing, extra diapers, snacks, wipes, medicine, and ointments. Everything! Yes, it's gonna be a big bag indeed, but having one handy in your car could help you save a lot more money, as you won’t have to buy things you already have. Another key tip is to keep your child’s snacks in airtight containers, as their shelf life otherwise is that of a fruit.
6. Save up!
Keeping aside a designated amount every month to put into a savings account or mutual fund for your child's education is something your child will definitely thank you for. There’s no need to spend money on expensive toys your child won't remember. Do some research on the best mutual funds and you will end up saving much more than you think.