If you’ve just found out that you’re expecting, congratulations! This is a very exciting time, but many expectant parents find themselves feeling very nervous too. Bringing up a child is a big responsibility in both a moral and a financial sense. You may have some clear ideas on how to teach your little one right from wrong and on how to instill in them curiosity, kindness and a love of learning, but you might also be slightly concerned about how you’re going to be able to afford everything they need in order to be kept nourished and comfortable. In this article, we look at a few tips on how to prepare for your new arrival in the most cost-effective way possible.

Join Online Baby Groups

There are so many social media groups for expectant mothers and fathers, and many of them permit parents to offer and exchange items for free or a reduced price. Babies grow up fast, and many group members are overrun with items that their little one has grown out of. Most people are extremely respectful and only offer sanitized goods in great condition, so why not make the most of the opportunity and, when the time comes, pass the favor on?

Refinance

There may be some elements of your existing financial situation that you can revise in order to save a little more cash to support your baby. For example, if you own a home, you might choose to remortgage in order to release a little equity. It’s also possible to refinance student loans with a private lender, which may reduce the interest rate as well as your current monthly repayments. It may sound like a small change, but it can make a difference in the long run. You can take a couple minutes online to get your potential rate to cut years off your student loan debt.

Check Out Second Hand Shops

There are plenty of lovely baby clothes and toys available in thrift stores, and again, because of the rate at which kids grow, they are unlikely to have suffered significant wear and tear. Be careful what you purchase, and be such to clean and disinfect everything just in case.

Cut Back on Other Expenses

Create a careful budget and look at any unnecessary spending you may have done in the past. Don’t be so ruthless that your quality of life suffers, but do make sure you keep an eye on your spending. Why not transfer a certain amount into a separate account each month to keep on top of baby’s requirements?

Arrange Playdates

Instead of costly entertainment activities and childcare, why not socialize with other friends who are parents and look after your little one at the same time? Playdates are free, easy to arrange and will help you to keep in touch with friends while your youngster learns valuable social lessons too. Of course, if you really need some time to yourself or with your partner, you should arrange childcare and give yourself a break. Just remember that playdates are a great cheap alternative.

WRITTEN BY

Clara Rose