8 Ways to Save Money During the First Year of Being a Parent

Here’s how to budget when your bundle of joy arrives.

By: Amanda Mushro

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Tried-and-True Tips

It’s pretty amazing that a tiny baby can somehow turn your whole world and budget upside down. According to data from the U.S. Department of Agriculture, parents can expect to shell out “approximately $12,980 annually” while raising their kiddos. So, if you are a new parent or a parent-to-be looking for ways to add a little more budge to your budget, here are eight ways to save money during your baby’s first year.

Hold on to Coupons and Samples

Even if you plan to breastfeed, it helps to hold on to formula coupons and samples if your nursing plans are cut short. Same goes for diaper coupons and stores that sell baby items. Grab a large envelope and hold on to those coupons until you need them. If they are about to expire, just offer them up to another new or expecting mom.

Rethink Baby Gear

Before you start filling your cart with the trendiest baby gear and anything marked as a “mom must-have,” take inventory of what you and your little one really need. Chatting with other mom friends about what they recommend and recommend skipping can be really helpful. Then figure out what you can borrow, what to grab second hand, and finally what you will actually buy. Rather than spending hundreds or thousands of dollars on nursery furniture, strollers and travel systems, and every gadget that claims to make your baby happier or sleep better, less is more at the beginning. You can always grab the items you skipped later.

Post-Baby Wardrobe

T-shirts, tanks and bras designed specifically for breastfeeding moms are pretty genius, but they often come with a hefty price tag. So, find a great nursing bra, but skip the shopping spree. You may be able to wear some of your maternity clothes at first and, after a few weeks or months, you can update your wardrobe based on what you really need and clothes that fit your changing body.

Widen Your Second-Hand Circle

From friends looking to share, to consignment stores in your area and mom groups on social media, you can stock up on plenty of baby items without having to spend a small fortune. If there is a swaddle that you want to try but don’t want to spend money on, or if there is a big-ticket item that you have been eyeing, see if there is a local “Buy Nothing” group in your area that specializes in gifting items. You’ll save money, another mom gets to clear out her house and everyone is happier for it.

Make Your Own Baby Food

When your baby starts solids, you can save big by feeding your baby what you already have on the menu. Don’t be intimidated by homemade baby food, it’s easier that you think. So, skip the jars and pouches and offer up bites from your meals. From fruits and veggies to meat and dairy, you won’t need to break the grocery budget when it comes to feeding your baby.

Don’t Overdo It

One thing that new parents will learn pretty quickly is that babies like what they like. Even though one bottle or pacifier worked like magic for your friend’s baby, there’s no guarantee that your little one will like it. So, for the early days of parenthood, just get a few of the items and hold off on buying multiples of each. Again, you can get most items delivered in a day or two If you need something last minute.

Become a Fan of Inexpensive Brands

One of the easiest ways to save money is by finding brands that won’t break the bank. First up: diapers. You are going to be buying lots of diapers and you’ll learn quickly that your baby needs comfy, soft and super absorbent diapers. Give Cuties diapers and wipes a try. They are fan favorites on Amazon and will save your diaper budget. Same goes for baby lotions, diaper pail refills and medicines.

Items That Grow with Your Baby

A lot of baby items will only be used for a few short weeks or months. So, to avoid wasting money on things your baby will barely use, look for gear and toys that grow with your baby. From a convertible crib to toys that have different levels of play for babies and toddlers, save space in your house and money by buying smart.