5 Money-Saving Tips for Raising a Baby: A Guide for New Parents

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Expecting a baby soon? A new bundle of joy comes with a bundle of expenses to the tune of Php 200,000+ between pregnancy and the baby’s 6th month. While expenses for raising a newborn can be expensive, there are simple ways for parents to cut costs and stretch their budget to provide for their baby’s needs.

Looking to save money when you have a baby? Here are some tips for new parents:

1. Be a smart shopper

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First-time parents, here’s a heads-up: your post-partum credit card bill can shock you if you don’t control your expenses from the get-go.

When you didn’t have a child yet, you can afford to go on expensive dates and shopping splurges, swiping your card here and there. But now that you’ve brought a baby into this world, you need to be more careful with your credit card spending.

As a new parent, you’ll be doing a lot more grocery shopping and utility payments. Make the most out of your credit card use by switching to a cashback credit card that offers rebates or refunds for every purchase. To easily find the best rebate credit card for your needs, use a credit card comparison tool that can show your options in terms of interest rates, annual fees, and other considerations.

2. Breastfeed if you possibly can

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Parents can save as much as Php 4,000 every month if they breastfeed instead of buying infant milk formulas, according to the World Health Organization. Nursing a newborn for a year can save you around Php 48,000. And if your baby is breastfed until 3 years of age, that’s worth over a hundred thousand pesos of savings!

Aside from cutting down on baby milk costs, breastfeeding offers other benefits. Compared to powdered formula milk for infants, breast milk has more nutrients a baby needs to fight diseases. It also leads to more mom-baby bonding time.

3. Create your own baby essentials

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Are your newborn expenses driving you crazy? Rather than spend a huge sum on pricey baby food, baby wipes, and disposable diapers, why don’t you go the DIY route?

It’s cheap and easy to make homemade baby food, not to mention that it’s healthier than processed baby food. Just cook and purée vegetables like carrots and sweet potatoes with a food processor or blender, and you’ll have an organic food that will nourish your little one.

Cloth diapers cost significantly lower than disposables and are just as easy to change and maintain. You also won’t have to worry about running out of diapers and rushing to the store to buy a new stock.

As for baby wipes, a cheaper alternative is to use cotton dabbed in a mixture of warm water and baby bath soap.

4. Gather hand-me-downs instead of buying new baby items

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It isn’t practical to buy everything brand new, especially baby clothes because infants can quickly outgrow them. Using hand-me-down baby items can save you a lot of money.

Do you have relatives, friends, or neighbors whose babies have already grown up? For sure, they’ll be willing to lend or give you their strollers, cribs, toys, clothes, and other baby gear they’re no longer using.

5. Try newborn potty training

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To further cut down on diaper costs, try to potty train your baby. When your little one is ready for it, he or she can start as early as 18 months to as late as 3 years old. Also called elimination communication, this technique trains a baby to use a potty instead of wearing diapers.

Final Thoughts

The little baby steps you’re taking now when it comes to cutting down your baby expenses will go a long way when you’re raising your newborn.

Do you have other ideas for saving money when raising a baby? Share them by commenting below!