Friday, 22 February 2019

Finance Fridays – Financial tips for new parents

Last week we were sharing our financial secrets for Finance Fridays. This week we are talking about what you need to think about when you are preparing for the arrival of your baby. I can tell you from experience that children are very expensive! Here's a few tips that I can give up to help you save money when planning for your newborn.

Buy gender neutral newborn clothing – Even if you are sure of the sex of your baby until they are born very few parents can be 100% sure. I've heard countless tales of people buying every item of clothing in pink only to find that their little princess is in fact a prince. It also makes sense to stick to gender neutral outfits if you are planning to have more than one child. Master JibberJabber went home from the hospital in the same cream dungarees that his sister wore to leave the hospital.

Try before you buy – One of the most expensive but necessary purchases you will make is a pram. Of course the widest choice of prams is on the internet and probably the cheapest prices as well. However for something that is going to be used as much as a pram you really need to have a test drive first. Some people like three-wheelers but when I tried one I found it hard to control and opted for a four-wheeler instead. I also preferred a bar handle whereas others like two separate handles. If you have a car also make sure it fits in the boot.

Just buy the basics – Before your baby is born it's very tempting to get carried away and start splashing out on all sorts of clothing, toys and equipment. At first you will need a pram, cot, a couple of outfits and babygrows, nappies and if you have a car then a suitable seat for your baby. After that you can decide what you really need. Remember you will probably also get presents when your baby is born. I received so many 3-6 months clothes that I struggled to use them all before my children grew out of them!

Borrow what you can
– If you can borrow things from friends and families that's great. If that's not possible then look into what libraries there are in your area for borrowing toys and equipment such as slings.

Be eco-friendly – Until your child is fully potty-trained you could go through as many 4,500 nappies. Each day in the UK around 7 million disposable nappies are thrown away and they can take over 200 years to fully decompose. Not only is that bad for the environment but also for your pocket. Reusable washable nappies come in all sorts of designs these days so you can find one that suits you. I also used washable wipes and these are now used as general cleaning clothes around the house.

If you want to join in with this week's Finance Fridays then add your link to the linky below. Any post concerning financial matters is allowed. Full details here. It doesn't have to be published today as you have until 23.55 on Tuesday 26th February 2019 to join in.

Finance Fridays


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