Having a new baby can greatly increase your monthly expenses. However, there are few ways to help you save a lot on baby expenses. Here are a few tips to cut down on your costs.
Your little bundle of joy has just arrived and you could not be happier. However, a new baby is more than just an addition to your family. He is also going to contribute to your monthly expenses. Within a few months, many new parents are taken aback at just how much it costs to raise a child. While there are some baby expenses that you will have to incur, there are also plenty of places where you may be able to save money. Read about some of them.
Diapers
Babies need their diapers to be changed often throughout the day. Disposable diapers are extremely expensive in the Indian market so most families prefer not to use them. In addition, the hot and humid climate of our country means that babies who use only disposable diapers are more likely to suffer from diaper rash.
To save on disposable diaper costs, invest in a few cloth diapers. You can use these when your baby is at home. Cloth diapers are cheap because they can be washed and reused. Frequently changing cloth diapers also minimises the chances of your baby developing diaper rash. Restrict disposable diaper use to the night time and the time you are taking your baby out. You can also save on diaper costs by buying in bulk, such as a supersaver pack. In addition, unbranded diapers will be cheaper than their branded counterparts.
Babysitting
If both parents are working, you will find yourself spending a good portion of your savings on childcare services. Hiring a professional to look after your child while you are away does not come cheap. Even a creche can make a dent in your pocket. In addition, you will be leaving your child with a stranger.
The best option is to hold off work for as long as you can. If your current financial condition does not allow you to stay at home, try to work out a suitable solution with your office. For example, they could allow you to work from home for a few hours a week. Alternatively, both you and your spouse can ask for flexible work timings such as beginning earlier or coming in late. This minimises the amount of time you will need to keep your baby with someone else.
If you need to find a crèche, ask friends in the neighbourhood for references. Many homemakers run small childcare services in their own homes. They are likely to be reasonably priced. These places will also take in only a few children so your child will get personalised attention for his needs. For occasional babysitting jobs, you can always hire a responsible neighbourhood college student, who is looking to earn a little money.
Clothes
Many new parents make the mistake of buying a ton of clothes for their new child only to find that their child does not wear even half of them. Remember that babies grow very quickly so he will fit into a particular outfit for a maximum of one month. Avoid expenses on clothes for everyday use while shopping for your baby. In addition, look for a good quality stain remover to remove food stains from his clothes.
If possible, accept baby clothes from relatives and friends whose children have grown up. There is nothing wrong with wearing hand-me-down outfits as long as they are clean and in good condition. Another option is to buy baby clothes second hand or from an export surplus shop. You will get relatively cheap baby clothes here. The only caveat is that these clothes have a slight defect but this is almost negligible in most cases.
Having a baby does not mean you lose track of your budget. Cutting down on unnecessary costs can go a long way towards giving you peace of mind.
How did you plan for your baby's expenses? Do you know of ways to cut down on the costs of raising a child? Would you be open to the idea of second-hand clothes for your baby? To share your tips, views, and experiences, click here.
