How to Save Money When Having a Baby

How to Save Money When Having a Baby

Babies are notorious for costing a lot of money with some research showing that it can cost as much as £230,000 on average to raise a child in the UK. No need to worry though, a large chunk of this estimate is childcare costs and extravagant gifts which are not relevant to all families and there are plenty of ways to save money in the other areas whether your budget is smaller, or you simply want to spend your money on other things in life like experiences for your family.

The reality is that babies and children do not need much stuff and that most parents-to-be spend more money than they need as they buy too many items that they really don’t need and buy too many of other things like baby clothes.

Budgeting and Planning for Big Buys

Some baby items are more expensive so try to set a budget or work out how much you’d like to spend before buying big baby items like car seats and prams. If you can, choose ones that will grow with your baby which will save you money in the long run. There are car seats that last from birth to 12 years old which is when your child no longer needs a car seat — you simply change it as your child grows — and travel systems that have carrycots that turn into a seat for an older baby and toddlerhood.

If you are close to your baby’s due date and are struggling to find the money for anything essential, a short term loan from CashLady is worth considering to tie you over until payday.

Don’t Get Blinded by the Big Brands & Shop Smart

There are many expensive baby brands for all kinds of items and just because something is more expensive doesn’t mean that it’s better. I have lots of friends who are disappointed with their expensive prams, for example. There are lots of affordable brands of prams and pushchairs that are great quality and very cleverly designed too.

Another thing you don’t need to spend lots of money on is baby clothes. Babies (and kids in general) don’t need designer clothes or expensive brands. They grow really quickly! I like to shop for children’s brands that I know represent high quality and durability rather than status on eBay which is another great way to save money as lots of preloved baby and kids’ clothes have not been worn many times at all and still have lots of wear in them. Look out for small bundles and don’t buy more than you need.

Go Green, Choose Reusable & Save Money

One of the biggest expenses when you have a baby is all that money you’re spending on nappies and baby wipes. It might not seem much when you’re thinking of the weekly spend but it soon adds up to quite a lot! Most toddlers potty train at around 2.5 years and at this stage, the average parents will have spent more than £1,000 buying disposable nappies and upwards of £250 on the associated products such as baby wipes, nappy bags and nappy bins.

Modern reusable nappies and washable baby wipes are really easy to use and many brands are birth-to-potty sized which adapt to your baby’s size from the time that they are newborns (or soon after) until they’re ready to stop using nappies and are potty training. There’s an initial outlay to buy cloth nappies, of course, but there are many affordable brands out there that work very well and there’s also a big market for second hand cloth nappies so you should be able to get some money back after potty training. Either way, choosing reusable nappies and wipes will save you a lot of money and will reduce your household waste too. If you’re having more babies, you can use the nappies again with them and save even more money.

Borrow When You Can

If you have friends or family members who have already had kids, they’ll be a great source of advice for which baby items are really useful and which ones might be a waste of money so do ask them for their honest opinion about this. They might also offer to lend you baby items or even give you some if they’re done having kids and this can naturally save you money too.

There are also some baby items that can be very useful but maybe just for a limited time that you can borrow from others if they have them. Examples include items like child carriers (we bought one of these but have only used it a handful of times for two kids so far) or holiday gear like travel cots. Remember to always look after borrowed items extra carefully and return them in the same condition. Always thank your friends and try to return the favour when possible.

These are only a few of the many ways you can save money when you have a baby. If you’re looking for more tips, check out my article Having a Baby on a Budget here.

Collaborative Article.