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Financial Tips for Parents-to-Be: How to Save for a Newborn Baby

Published by Salvatore Fanucchi

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A new baby is one of the most exciting times in a couple’s lives. However, with the current financial crisis still looming, it’s often hard to get in the baby spirit without worrying about the baby debt. For new parents-to-be, the answer to financial woes is often found in the little things.

Below are six easy tips for saving for bub and staying out of the red.

Successful Savings for Baby Tip #1: Save the Spare Change

For most women, pregnancy is all about eating right and ditching those less-than-perfect habits. This can include caffeine, alcohol and cigarettes. Instead of buying those morning lattes, pocket the money. Put the Friday night cocktail money into a Baby Fund jar and watch the fund grow every week.

Successful Savings for Baby Tip #2: Do the Research

Spend a few minutes every week scanning through the online catalogues for baby deals. If there is a bargain going on, snatch up those must-have items early to avoid spending a small fortune later on. Another great idea is to check the newspaper for ‘baby garage sales’. Get up early on Sundays and hit the streets for garage sales and baby bargains.

Successful Savings for Baby Tip #3: Host a Baby Shower

It’s probably the last thing any new mother wants to think about but a baby shower is a perfect way to get some of those much-needed items for free. Furthermore, a baby shower is a great way to bond with friends and other mothers, share advice and baby tales and enjoy a girlie day before the big arrival. To avoid receiving duplicate items, opt for a baby registry.

Successful Savings for Baby Tip #4: Start a Baby Fund

Instead of going out for dinner on Saturday night or hitting up the movies on Friday, invest this extra money into a baby fund. An extra $10 a week can add up to $400 by the end of the pregnancy. Plus, putting aside $10 at the end of each week is a great way to keep track of how many weeks have gone by (and how many are left until the arrival of the little one).

Successful Savings for Baby Tip #5: Know What is Needed

Baby shopping can be a great way to spend weekends from now on but it’s important to know what is needed to avoid impulse buying. Use a Baby Checklist to ensure the money is being spent in the right places.

Successful Savings for Baby Tip #6: Pack a Lunch

Spend a few extra minutes every evening and make a lunch for the next day. In a two person household, Mom and Dad can stand to save up to $10 per person, per day which can be $100 per week and $3600 in nine months!

With these six tips, parent-to-be can focus on what their new little one will need instead of concentrating on what it will cost.

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