Saving in advance of the due date of your newborn baby is essential for any new mom or dad. Parents of a new baby will have a wide range of unexpected expenses, from a new stroller and crib, to toys and a constant stream of diapers, wipes, and baby formula and food.
Saving money while your baby continues to develop during the pregnancy is really the only way to prepare for the financial burden that a newborn will inevitably create. Investment advisors recommend starting your retirement savings as early as possible, and the same can be said for setting aside funds that will provide for your child.
Bringing any new life into the home will come with a price tag; this fact is especially true for a new baby who can’t provide for his or her self in any substantive way. As well, the cost of raising a child is continuing to rise. In fact, the USDA estimates that it will cost a family almost $234,000 to feed, clothe, and take care of a newborn up through age seventeen in the United States. That’s no small price tag for U.S. families, so getting a jump on the expenses that come along with a new baby is crucial for finding financial stability and cash flow success after the day of the birth changes your life forever—and in the best way possible.
Tack on discounts wherever you can.
Discounts are a powerful tool in the arsenal of an expecting or new mother and father. Everything from the car seat to heating and cooling costs can be approached with a discount in mind. In fact, in order to save money on HVAC costs, families often opt to purchase a warranty plan or service contract in advance in order to save money on each visit that will eventually occur throughout the coming year or longer. HVAC and thermostat technicians are highly professional, and they understand the value of repeat business. That’s why so many providers offer discount arrangements that can really add up over the months and years.
It’s essential to have appliances like your air conditioner checked for wear and tear and debris buildup every six months (at least), so scheduling these maintenance visits in advance can work in your favor when trying to lock in a low price for a service that you will have to purchase anyway.
Use a baby registry for streamlined gift giving when the baby arrives.
A gift registry is more than just a wish list—it’s a great way to communicate the things that your baby will need to your friends and family members. Loved ones around a new mom often flock to the aid of the newborn and want to shower the pair with functional and stylish gifts. Signing up for the best baby registry that you can find is a great way to pair up this gift giving spirit with high quality gifts that you and your new baby need and will actually use.
Strollers, cribs, blankets, gliders, clothing, and toys all great options for baby items when it comes to gift giving at a baby shower or newborn celebrations. With the help of a registry, this process can be made easier for everyone involved, and save you and your friends’ money in the process. Some of the best registries out there have crafted lists and resources that incorporate information on additional cost saving opportunities when buying online or in store. A registry makes for a highly important ally in this process—both for the gift giver and for the new mom or dad.
Saving for the birth of a child can feel like a daunting task in the early stages. Still, once you get going and bring in additional cost cutting measures, putting aside cash to give your new baby the best possible start in life becomes just another part of your typical routine. Make the most of this time and incorporate excellent savings habits that will last for a lifetime.
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