When you and your partner decide to have a child, it’s difficult to imagine how much extra expense that little bundle of joy is going to bring with it.
A new baby is an incredible gift for any family, but it’s also something that requires you to think carefully about how you’re going to manage your budget and expenses going forward. After all, your child introduces a range of new costs that you never had to consider before, including childcare, formula, nappies, and more.
The good news is that there are ways you can save more money on newborn baby expenses. You can even make back some money – did you can sell formula online if it’s unopened?
1. Be Cautious with Big Purchases
While there are plenty of small things you’ll need to stock up on like nappies and formula when you’re raising a new child, there’s also a handful of bigger expenses to consider too. For instance, pushchairs, prams, and cots can costs hundreds of pounds.
One of the easiest ways to find the cash for these big-ticket items is to take out a personal loan. However, if you take this route, make sure that you compare your options online carefully first. This will ensure you’re getting the lowest interest rates and the smallest possible fees. Additionally, consider buying items second-hand if it means saving a couple of hundred pounds. Last season’s designs can also be significantly cheaper when it comes to cribs, high-chairs, and car seats.
2. Use Subscriptions
For the little expenses we mentioned that you’d need to pay for each month, it’s worth looking into subscription packages. A lot of companies, including Amazon, will give you a small discount if you agree to pay for the same product every month, or even every few months. This can save you some serious cash in the long-term.
If you’re going to be buying the same items anyway, then there’s no downside to signing up for a subscription – just make sure that you don’t have to pay extra for delivery. Additionally, remember that you can always cancel your subscription if you decide to buy something elsewhere.
3. Share Childcare with Friends
Childcare is one of the biggest expenses that parents have to face when it comes to raising their youngster. Fortunately, there are ways that you can cut costs. For instance, if you know people like you who also need a babysitter on certain days of the week, you could offer to look after their children when you’re available if they look after your kids on their days off.
Some babysitters also offer discounts for multiple children. If you can get your friend to drop their kids off at your home on certain days, then you can take advantage of a better deal whenever you do decide to pay for a nanny or babysitter.
4. Join Rewards Clubs
It’s tough to be a parent. That’s why countless nappy companies and other baby product manufacturers often provide rewards and frequent shopper incentives to mothers and fathers. All you need to do is visit the website or social media page of your favourite brands to find out more. See whether you can get special discounts or freebies if you sign up for a newsletter or follow certain companies on Facebook. Before you know it, you could be earning rewards and cash back for buying the products that you would have needed to purchase anyway.
Don’t forget to check out whether any companies are offering freebies for new babies too. You can sign up for a range of rewards clubs online that give you a hamper or free basket of goodies when you first start using their services.
5. See What you’re Eligible For
Although not everyone in the UK will be able to get free money to help them look after their kids, there are plenty of benefits available for those who need them. If you can find the time to book an appointment with your local civic centre or the citizens advice bureau, then they should be able to guide you through what you’re eligible to claim for.
Just remember that it can take some time to get your claim sorted out. That means that the quicker you apply for your benefits, the better off you’ll be.
6. Stock up on Hand Me Downs
Finally, getting the best for your baby doesn’t have to mean constantly buying the latest products. Hand-me-downs from friends and relatives can be an excellent way to save cash. You can even find plenty of second-hand products like clothes that have never had the tags taken off on Facebook and other selling sites. Babies often grow out of items before they have a chance to use them, which leaves plenty of parents selling unused items online.