3 ways to save money when you have a baby

Having a baby is one of the most joyous and meaningful occasions one will experience in a lifetime. Yet, raising a child is neither easy, fast, nor cheap. From pregnancy to childcare to schooling, parents have to spend a lot of time, energy and money to give their children the best. Fortunately, there are a few ways you can start saving money, even while already having a baby: 

Throw a Baby Shower

Now, how will a party help you save money when a baby shower requires a fair bit of money to host? Well, you can call upon close friends and family to help out, keeping it casual and relaxing with food, games and simple favours (e.g. small goodie bags with candies or cookies). Baby showers are traditionally meant to celebrate your pregnancy with loved ones, and to ‘shower’ the mother-to-be and welcome the baby with love, wishes and gifts. The gift part is your opportunity to receive things that your baby can use – like baby bottles, diapers, blankets, clothes, cribs, and many more. That means you can save some money, without needing to buy these.  

Breastfeed instead of Bottle feed

Unless there is a medical reason (illness, medication) not to, it is always better to breastfeed than formula-feed your baby. Breast milk is consistently encouraged by many health experts to be the best nutritional choice for your baby, as it protects against infections and chronic conditions, as well as prevents allergies. It is also easier for digestion and helps the mother share a special bonding experience with the baby. From a financial standpoint, breastfeeding will also save you from spending money on baby formula, which is knowingly expensive. Plus, you will not need to buy bottles or other supplies. Breastfed babies also tend to be healthier, meaning they require lesser trips to the paediatricians which also means less prescription and medicinal fees. If for some health reason you need to bottle feed your baby, you can still cut down on the expenses by being on the lookout for sales and samples.  

Buy Second-Hand

There’s nothing wrong with buying second-hand. Your baby will grow up faster than you expect, so why overspend on brand new shoes, clothes or cots when they will outgrow them in a few months to a year? Chances are, your friends and family will have children that have outgrown theirs and they will be more than happy to have you take it off their hands. These hand-me-downs will probably still be in good condition, or scour for affordable, pre-loved items still in pristine condition, at second-hand shops or online sites like Carousell or Mudah. 

It is a wise choice to save your money in the early years of your child’s life so that you can have enough resources and savings to supply them with better necessary expenses down the road, like their education…and their first car…and even help out in the future wedding.

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