welcoming a new addition to the family requires a lot of preparation. One of the most important ways to prepare is to set money aside for all of the inevitable purchases. There are many ways to set money aside and ensure that you are prepared financially for the new arrival!
I have put together 6 ways you can start saving for your new baby!
Set Aside Money
During your pregnancy, set aside a specified amount of money each week or each pay period. Setting aside money at a low rate over the course of a nine-month pregnancy will help to save up money for the necessary expenses.
You can have the money removed from your paycheck automatically and deposited into a savings account, or place the cash in an envelope in your dresser drawer. Setting aside a little amount each week will go a long way in setting up a savings account of sorts for your upcoming arrival. If you haven’t before now is a good time to get your finances organized and in order!
Get Rid Of Any Unnecessary Expenses
Another good way to set money aside is to cancel any unnecessary expenses or services. If you have extra cable channels that you never watch, cancel the extras and put that money away each month. The same concept applies to a gym membership or a movie service such as Netflix. By eliminating these services, providing they are not used, you are saving money that will help to pay for your upcoming arrival.
Save Gift Cards And Cash
It is not uncommon for relatives to send cash gifts upon hearing of an upcoming baby shower. Instead of spending this money right away, add it to your cash reserve to purchase items as they become necessary.
Especially if you are a first-time mother knowing exactly what you need for your baby sometimes comes after they are actually here! A few gift donations can add up very quickly.
“A new baby is like the beginning of all things…hope, a dream of possibilities”
Babies Don’t Need Everything
It’s also important to keep in mind that babies really don’t need half of the items you may purchase or get during your baby shower. In fact, a few nice quality baby grows and other basic essentials such as a safe car seat, crib and stroller may be all baby needs during the first few months.
Rather than purchasing all your items at once, have the necessities on hand and purchase the rest as you need them. You can also ask for cash gifts during your baby shower and shop around for the best-priced items during the last few weeks of your pregnancy. You can easily do this online and you may end up saving quite a bit of money in the process.
Get A Part-Time Job
Taking on a part-time job can help to save up money as well, especially if you can work from home. Freelance writing jobs are available on many different websites. Not only will you earn extra money, but you will also avoid overexerting yourself doing so. After all, priority number one is caring for yourself.
De-clutter The House
De-cluttering your house can work in your favor as well. Instead of tossing the items, sell what you can on eBay or Craigslist. Set aside any money you make and donate the items you cannot sell.
Setting aside money is important when you are expecting a new addition to the family. There are several ways to go about saving up money, so try a few of the ideas out. If you are not successful right away, keep trying. After all, you have nine months to plan out your savings plan!