How To Budget As A New Parent

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Becoming a parent can be extremely daunting, especially if funds are limited. But did you know it is possible to budget as a new parent? You don’t want to be paying over the odds for things when there is no need to. By setting yourself a budget and an intinerary of things to do, you will be sure to keep on track and avoid making your bank balance drop dramatically.

So how can you budget as a new parent with a newborn baby or a baby on the way? Here are some top tips to help you along this daunting but exciting journey.

Start Buying Things As Soon As You Find Out You Are Pregnant

Obviously there is some stuff that needs to wait until baby is born but there is plenty you can get in the months leading up to baby arriving. Newborn clothes, furniture, feeding equipment – whatever you need to make your life easier, start buying it. This means you can split the cost rather than buying it all in one go towards the end of your pregnancy.

A selection of newborn and 0-3 months clothes are a good option – you don’t know how small or big the baby will be when it comes out! Bottles and teats are great if you are planning on bottle feeding and some nappies and wipes are always good to have at home before the baby comes along. If you are planning on breastfeeding, a breast pump and some breast pads are always good to have ready before baby arrives.

Don’t Fall For The Hype

Whilst it is a great idea to start buying things as soon as you find out you are pregnant, it is also important not to fall for the hype when it comes to certain products. Make sure to do your research and look at what people are saying about items. Sure, they may seem to be everywhere but are all the reviews truly positive? What disadvantages have some people mentioned?

You can definitely buy hyped up items if you believe they are worth it but it is important to remember that you don’t need to – and you don’t want to be wasting your money on something that is not fit for the job.

Do Your Research

Much of parenting in the first few months is trial and error but it is still important to do your research. You might not get on with a certain brand of nappies and might need to find another brand. Doing your research helps you to know what is available to you and suitable for your budget.

Enjoy Free Things

Many companies offer free items when you let them know you’re pregnant. Many supermarkets will provide you with coupons for free items or money off certain baby items. You can sometimes even get free baby boxes from companies such as this multipack box from Your Baby Club. There really is a wealth of free things out there for new parents and their babies so why wouldn’t you want to take advantage of them?

Don’t be afraid to ask for coupons and samples too. You will be amazed at what companies are happy to give you if you only ask.

Photo by Omar Lopez on Unsplash

Consider Second-Hand Stuff

Some items obviously shouldn’t be used second-hand when it comes to a baby but some are just as good as new items. Gratefully accept the items friends and family offer you and check out the free or cheap Facebook groups in your area for more items – you will be amazed at what you can find on there! I got a Jumperoo for free when Olivia was small. When we were done with it, we popped it back up on the free site and then someone else got use of it – I have since seen it go up two more times!

You can get some really nice stuff second-hand if you know where to look. Some people can get a little anxious about using second-hand stuff with their baby but as long as it is clean or you give it a good clean, it is fine!

See What You’re Entitled To

As a new parent, you may be entitled to certain benefits such as Child Benefit, Child Tax Credits and/or Working Tax Credits. Check out what you might be entitled to – and if you are entitled to anything, make sure to claim it! It is important to remember that you only get Child Benefit for two children now if a third or subsequent child is born after the ruling changed.

Set Money Aside And Plan Ahead

It can be so tempting to spend a lot of money on convenience in the days after becoming a new parent. However this can quickly add up and can blow your budget out of the window. Plan ahead and batch cook some meals ahead of time so you don’t have to cook from scratch or order in when you are too exhausted to cook. Stock up on items you think you may need to avoid having to do doorstep deliveries. However if you do find that you do need to order some stuff in, make sure you have budgeted some money for this. By using money that you have already budgeted, you will be able to keep to a budget you have set.

These are just a few tips on how you can budget as a new parent. Do you have any tips on budgeting as a new parent that you would like to share?