Budget With a Baby

Budget With a Baby

Having a child is expensive. You take on the responsibility of a whole new person. It's a huge shift in your finances, so you might as well get in savings wherever you can. This way you can ensure that you have money for all essential items, and maybe you can even bump up your savings for future expenses or emergencies. Here's how you can budget with a baby. 

1. Reuse. Some people want to get all new things for their child. They feel that secondhand automatically means second best. This certainly does not have to be true. While tiny baby clothes and pastel baby furniture are quite irresistible, they are often quite expensive. Babies grow really fast and they often grow out of clothes before they show any wear and tear. So if you know any parents with an older child, ask them if you can use some of the clothes or other baby equipment that they no longer need. You can save a ton, and just buy whatever else you need.The baby equipment will already have been tried and tested as well so that's another benefit. If they want, you can always return these items when your own baby has outgrown them. Or you can pass them along to another new parent. If you are not easily grossed out, you could use cloth diapers as well. Disposable diapers are one of the biggest expenses with a baby. Cloth diapers are easier on the environment, as well as your pocket. 

2. Ask other parents what items a baby really needs. Often, you hear that a baby needs a million things but in the end they serve no real purpose. Shoes for babies who cannot stand yet, for example, are cute but totally unnecessary. By asking around, you can eliminate the unnecessary items from your shopping list and focus on the ones you do need. 

3.The baby does not necessarily need a whole new nursery. Especially in a country like Maldives, where houses are relatively small and expensive, there is no need to dedicate a separate room just for the baby. They won't even notice, and it's more for the benefit of the parents. The important thing is that the baby has a safe, comfortable place.

4.The same goes for the parties you have when they are small. There is no need to shell out a lot of money on a party that your child won't remember. Sometimes these big events that are loud and crowded, and being dressed in uncomfortable clothes actually prevent your baby from enjoying their day. If you want to celebrate the milestone, you can have a nice memorable time with a small, intimate party instead. You could invite some family, and a few friends for your child to play with. 

5.This one is more for future savings. But, if you plan on having more than one child, you could buy baby items that are unisex. This way, you won't have to buy so much for your future children as you can just reuse a lot of items. 

8. Make baby food at home if you can. Food for babies are often marked up, and many items are loaded with sugar or flavor additives. Even for babies who can eat solid food, you can prepare baby purees at home by just blending fruits or boiled vegetables. You can save quite a lot doing this, and you also know exactly what your child is having.