Tips on How to Save Money for Young Parents - Infographic

Having a baby can be very expensive, and new parents need ways to save their piggy bank! With baby clothes, formula or baby food, diapers, high chairs and strollers, and more, there are many things new babies need - and that’s after the hospital visits that took bringing your new bundle of joy into the world!  Not only that, but there are also unexpected expenses of having a new baby, such as additional trips to your pediatrician for health check-ups and rounds of immunization shots. You can give your baby the care she or he needs without breaking the bank.

Having a new baby means changing your buying habits and lifestyle. Some ways to save with a baby include going thrift shopping for baby furniture, and using regular shampoo and soap rather than what’s marketed as for babies. A good deal of specialty items branded for babies will be significantly more expensive than their “adult” counterparts.

Baby food and baby formula is also a big expense for new parents. Breastfeeding is best for the baby’s brain development and emotional connection to the mother, and doing so will save a good deal of money in the first six months to a year. Many hospitals offer discounts and coupons on baby formula, so remember to ask when you are delivering or returning for check-ups. Baby food itself is usually simply vegetable or fruit mash, and so it’s easy to make yourself at home.

Finally, some of the biggest expenses for baby items include clothing and baby furniture. Consider choosing furniture that has multiple uses. Additionally, baby clothes are expensive and not long-lasting since young children grow out of them quickly. Choose neutral clothing that can be used for a baby of either sex, so you can perhaps use them again if you and your partner end up having another child.

Check out this infographic on how to avoid breaking with bank with a new baby.