Bringing a child into the world is priceless.
Unfortunately, raising a child can be expensive.
There are so many things you must buy before the baby has even arrived into the world.
So the prospect can often be a little daunting to new parents.
That’s why we are offer 11 money saving hacks that all new parents need to know.
1. Don’t Buy Too Much
The thought of welcoming a little boy or girl into the world is exciting.
So exciting that many new parents can often go a little overboard when it comes to baby clothing.
Your baby is growing every day, and will continue you to grow at a rapid rate once he or she has arrived.
Babies grow so fast that your son or daughter might not have time to wear most of the clothing.
Don’t forget, your family and friends will also be very excited – so expect baby clothing from them, too.
So, as cute as that little outfit might be, put it down and save your money. Spend it on items you really will need, such as diapers or formula.
Also, don’t spend too much on footwear, either.
Most of the time, your baby will not want to wear shoes. Plus, they will often learn to walk much faster when barefoot.
Instead, opt for a soft pair of booties that will keep your little one’s feet warm when outside the home.
This is one of the money saving hacks you’ll be glad you read!
2. Shopping Online Is One of the Best Money Saving Hacks
New parents can often give into temptation when shopping in-store. It is so easy to suddenly have your heart set on a baby grow, crib or stroller.
That’s why it’s often wise to shop online for the best money saving hacks, so you won’t pay the full RRP price.
There is so much retail competition online. So you can guarantee those pricey car seats and strollers will be a fraction of the price on the internet.
Never settle for the first price you see and do your homework to compare stores against one another.
Those little savings will make a big difference to your finances.
So you can use the money to save up for family days out or to add to your child’s savings account.
3. Be Realistic
Expensive nursery furniture might look great, but do you need it all?
While it might look pretty in the room, you might never use the over-priced changing table.
If anything, most of the time you might change the little one’s diapers in the living room. So one or two changing pads might suffice.
It is important to be realistic when you’re shopping for a new baby.
Ask yourself if you need the item before you buy it. If your head says no, don’t allow your heart to make the financial decision.
Your bank account will be better for it.
4. Form a Babysitting Group
If you have friends or family members who also have young children, form a babysitting group.
This means you can each take turns in giving the other one a break for a day or night.
So, you can go to work, enjoy a nap or even treat yourself to a night out.
All parents need a break, so ask your trusted loved ones to alternate babysitting duties. They will probably snap your offer right up!
5. Free Entertainment
Family days out can often add up to a pretty penny.
Fortunately, not all activities have to cost much money.
For instance, you could all enjoy a bicycle ride, hike or picnic in the park, which will not break the bank.
There are also some free forms of entertainment, such as a movie night at home, game day or a trip to a free museum.
There are affordable and free activities for the whole family to enjoy. You just need to find them.
6. Learn to Cook
Before you became a parent, the chances are you enjoyed many a meal out or a takeout.
Unfortunately, restaurants and takeout can all add up to a considerable amount.
One way to save money is to learn how to cook. By learning to use cheap, fresh ingredients, you can make your meals and money go further.
What’s more, it will also ensure the whole family enjoys tasty dishes each night.
You can also use the time to bond with your little one. For instance, you can make meals and cakes together, which will teach them a new skill, too.
There are so many frugal recipes online to try, which may even help to inspire dishes of your own.
You can then sit down and enjoy some quality family time over a home-cooked meal.
Not much of a fan of cooking? That’s not a problem either. Take a look at these quick and delicious cooking tips.
7. Consider Second-Hand Items
Many people have a habit of turning their nose up to second-hand items. This can be a silly mistake, because you could miss out on some great stuff.
Many parents are often more than happy to give away the clothing their babies have outgrown. Most of the time the items are new or were barely used.
Would you be happy to give your stuff to a new mom? Of course, you would!
So, don’t let your pride stand in the way of a money saving bargain.
Trust us, this is one of the best money saving hacks for new parents.
8. Try Before You Buy
Many new parents can receive free samples of various baby items, from baby cream to wipes.
So, try to get as many free samples as possible before your little bundle of joy arrives.
Don’t forget to ask for samples at the maternity ward, either. Many manufacturers provide free products to hospitals, such as ointments and lotions.
Hospital staff are often too busy to think about handing out samples. So, ask a nurse if they have any free samples for you to try.
Not only can you make an informed choice on a product, but it will stop you from wasting cash on items you don’t like.
You could discover a cheaper brand is actually better than an expensive alternative. So you could save a significant amount of money over the year.
9. Use Coupons
Never pay full price for an item if you don’t have to do so.
This is one of the effective money saving hacks on the list. Why? Because you can start collecting coupons now and make great savings as soon as today.
There are many coupon codes available for online orders. You can also find coupons in newspapers, magazines and leaflets, which you can use in store.
There are reportedly 305 billion consumer packaged goods coupons in the United States. Surprisingly, consumers have only redeemed 2.9 billion coupons.
It is surprising how much money they can help a shopper to save. So new parents should definitely take advantage of the many bargains to be had.
10. Refinance Student Loans
Do one or both of you have a student loan you’re still paying?
You should consider refinancing your student loan, so you can receive a low-interest rate.
As you will receive an affordable bill each month, you could use the money saved to pay for food, clothing or day care.
A refinancing lender will assess your credit score, employment history, and education.
If you meet the lender’s requirements, they might be happy to lower your interest rate.
Do not refinance the loan if you hope to embark on a federal payment or forgiveness program. Refinancing will give up your right to the benefits.
If money is an issue, there are ways to boost your finances from home – which could be perfect for when the baby is asleep.
Not every new mother likes to breastfeed, and that is fine.
Many believe formula is often as good as breast milk, or a baby might struggle to latch onto a breast.
While breastfeeding can offer many health benefits, there are also financial advantages, too.
The natural breast milk means you will not have to pay for formula on a regular basis.
While you will still need a breast pump and bottles, you will save a considerable amount each month.
That’s enough to enjoy a family holiday!
There are so many ways you can save cash as a new parent.
You do not have to spend a significant amount of money to ensure your child has a great life.
By following our money saving hacks, you could save a considerable amount over the years.
The best part is, the money saving hacks will not detract from quality family time.
So, you can give your child the best of everything, make memories and save money in the process.
Want to learn some more simple and superb parenting hacks? Click here.
Have you got any money saving hacks you would like to share with new parents? Leave a comment below!
Did you make any financial mistakes when welcoming your son or daughter into the world?
We would love to hear your stories and tips. Please write your top money saving hacks in the comment section below.