Monday, February 13, 2012

Finance 101: Baby Expenses and Money Saving Tips

Jamie Highland writes articles and blog posts for My Baby Shower Favors, a site that sells baby shower favors and other related supplies like baby shower games. In this article, Jamie gives a few money saving tips when raising a baby.

Raising a baby is one of the biggest joys in life but it is also connected to a lot of expenditure. Many new parents understand this fact after the new family member has arrived. Dealing with baby-related expenditures can be a challenging task.

Daily expenses will certainly go up – just think about the diapers, formula, cosmetic products, clothes and the other little items that babies need. The good news is that many parents are capable of saving some money.

Saving money while raising a child requires planning and creative thinking. Here are several great ideas that will help you get started.

Milk for Babies
Formula can be very expensive. The majority of parents spend anything between 60 and 100 dollars on formula each month. This cost can add up to a significant amount over the course of a year.

Breast feeding is actually much less expensive. It comes with a number of benefits that no formula can provide. If you are incapable of breast feeding your baby, go for the powder formula, which is less expensive.

Try to get formula from a warehouse. If you buy a larger quantity, you are probably going to get a better price for it. Avoid the ready to use formulas because they tend to be the costliest option.

Disposable Diapers: 

The next big expenditure, which is incurred on a regular basis, involves the diapers. Few parents really think about it but disposable diapers can cost up to 100 dollars per month. The alternative? Eco-friendly, reusable diapers.

Cloth diapers are once again starting to gain popularity. These are easy to find in many baby stores, as well as organic stores. The cloth diaper is designed for multiple uses. It is both environmentally friendly and better for your baby’s skin.

Washing these diapers is not as difficult as many parents believe it would be. According to one mom, it is possible to save nearly 2,000 dollars by going for the multiple use cloth diaper.

Baby Clothes:

Babies grow and they are in constant need of new clothes. This is one of the most serious expenditures connected to raising a child. Parents are forced to spend up to 50 dollars on a monthly basis for new clothing items.

Gifts from family and friends are a great way to minimize clothing expenditure for some time. Next, you can ask friends whose children are already grown to provide you with some baby clothes. This option is highly advisable. The fact that a child wears a specific clothing item over a relatively short period of time signifies that the outfit will be in a very good condition.

Thrift shops and garage sales are also good options for parents that are trying to find inexpensive baby clothing. There are even baby clothing exchanges set up where you can get baby clothes from other parents worldwide.


Parents are also likely to spend a lot on toys. As the little one grows, this expenditure is also likely to expand. Encourage the kid to play with household items. These kinds of ‘toys’ stimulate imagination and are much better than the all plastic, all technological pieces available on the market today.

Building toys together with your child will be a fun time for both of you. It is exceptionally easy to create a doll out of pieces of fabric, threads, old clothes and cotton. Using your imagination to produce something beautiful for your child will make you feel great and will help you save some money.

It is important to know that the prize of a party game can be something small, yet tremendously enjoyable. You do not have to spend a fortune on the item. Some of the best party prizes for ladies can be made at home. All it takes is some creativity and the desire to come up with something special for your friends.

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