Best Budgeting Strategies for New Parents

Getting all the things

I don’t want you to go crazy and buy everything you think you need now. The wisest thing to do is make a list. In this list including everything under the sun all the way down to the binkies. Your list should include everything needed for the first 6 months, so yes that includes teething rings lol. Clothing is the last thing on the list but you should still grab the necessaries like onesies, and socks.

After the list is made write next to the item and a roundabout price. Total up all the prices and use this as a savings goal. Even though some of the items might be gifted it’s always smart to secure this fund. If you have money left over after getting everything on the list. I’ll tell you what you should do with it after. The goal is to have a lot of money leftover after the baby is born. Next, we will be doing the After Baby Budget.

Some items you should have on the list

Source from Today’s Parent

  • (Diapers) Two boxes of newborn-size diapers (it’s better not to buy too many in advance in case your baby is large or grows quickly)
  • (Reusable Diapers) Several dozen (4 or 5) cloth or re-usable diapers and pins or snaps for securement
  • 8 waterproof covers
  • Diaper Genie
  • Changing pad
  • Baby ointment or cream to prevent rashes
  • Disposable wipes
  • couple dozen washcloths for cleaning baby’s bottom
  • 8 undershirts or onesies (mix of short-sleeve and long-sleeve)
  • 5 nightgowns (for use until the cord falls off)
  • 8 one-piece stretchy sleepers (go for ones with zippers; new moms swear by them!)
  • 5 pairs of pants
  • 2 newborn hats
  • 8 pairs of socks or booties, to wear with nightgowns and outfits
  • 2 pairs of scratch mittens, to keep baby from scratching his face
  • 2 cardigans or jackets, more in winter
  • Bunting bag or snowsuit for winter baby
  • Laundry detergent for infants
  • 4 outfits for dressing up (optional)
  • 3 large cotton blankets
  • 8 receiving blankets (they also make handy burp cloths)
  • 1 plastic infant tub (or use a large dishpan in the sink, or take baby in the bath with you)
  • 12 washcloths, not used on baby’s bottom
  • Baby soap or cleanser
  • Baby soft-bristled hair brush
  • 3 soft-hooded towels

Need the figures?

The BabyCenter has a baby costs calculator to tally up costs for your child’s first year. This site is also a good resource for all the questions you might have as a new parent. Visit this site and input your amounts you would spend to see what’s it’s going to cost you.

Having a Baby Shower?

Place all of the items on your registry for the Baby Shower. There nothing wrong with telling people exactly what you need. So if someone asks you “Is there anything that you need?” Go to your list. Even though they are your friends and family, I’m sure they would prefer to give you something needed. Sign up for cashback online shopping websites like “Rakuten” and encourage people to join with your referral code. Most cashback sites like Ibotta and Rakuten has a referral code to share with others. Reward yourself with these sites for large purchases you have to make. Make it a practice to do some serious online research and price comparison.

Buy gently used or borrow

Do be afraid to get thrifty by looking for resellers on Craigslist, Mercado and Offer up. When you are on a tight budget there is nothing wrong with buying gently used items. Just make sure you clean and disinfect the items prior to its use. Clothing and shoes you can shop on thrifty sites like “Thredup” or visit your local thrift store. Baby clothes are mostly less worn since children grow out of their clothes quickest. So don’t be surprised that you’ll find some brand new clothes with the tags on.

Shopping Resources to check out

Getting cash back

Shopping thifty

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