Preparing for the arrival of your first baby is a very exciting time. However, the addition of a baby to your family will bring with it some inevitable costs, which will become very apparent as you start to shop for everything you need for their arrival. It’s therefore important for new parents to get their finances in order by starting to put some money aside in the weeks leading up to the birth – though ideally start saving before you even begin to try for a baby. Budgeting is going to become even more important when you have an extra member in the household, so now is a good time to calculate what your expected earnings and outgoings will be each month; there are a number of useful budgeting tools that can provide help with this task. As well as planning for the inevitable costs, there are those unexpected things that arise, which also require payment. For example, a rise in hormone levels during pregnancy can lead to dental problems, so be sure that you have dental insurance to cover costs of not just routine work on your teeth, but any extra that might also be needed.
Avoid non-essential items
As a first time parent you want to give your baby everything they could possibly need. However, not everything that manufacturers would have you believe is a “must have item” for your new baby actually is. Find out from other parents you know what items you definitely need to buy for your baby and which are just nice extras that you can do without. Online discussion forums for parents are also a good source for this information, with experienced moms happy to share their wealth of knowledge.
Consider purchases carefully
Before buying something for your new baby, particularly if it is a large or expensive item, decide whether it is a practical purchase. Travel systems, which typically comprise of a stroller, infant car seat and often a carrycot, have become increasingly popular. However, there are plenty of instances where parents have ended up having to buy a second stroller because they found storage or transportation difficult with the bulky stroller included in their travel system. While you can obviously sell any misguided purchases, it is cheaper in the long run to make the right choice in the first place. Make sure that you ask other parents about their experience with certain products, read product reviews and again tap into the knowledge of moms on parenting forums. Continue reading