|
December 2005 |
|||||||
 How to Keep That Newborn from Trashing Your Budget You're doing all you can to make ends meet and then you find out you or your spouse is pregnant. Visions of diapers, strollers, clothing, health care and child care fill your brain. The U.S. Department of Agriculture estimates it costs a middle class family an average of $178,590 to raise a child to age 18. (And that doesn't include college.) When you finish hyperventilating, there are some steps you can take besides denial or trying to double your income in nine months. 1 Cut back early. Especially with surprise pregnancies there is the temptation to live it up or take one last vacation before the two of you become a party of three. If money is tight, forego that trip. The relief a vacation would bring won't justify the added struggle after the child is born. Also, you might consider cutting back on any other extravagances. Whatever savings you can sock away before the birth will be much more appreciated than the comforts it can bring during the pregnancy. 2 Get to know the consignment shops in your area. Infants and toddlers grow out of things long before they wear out so "baby" consignment shops are a natural fit. The merchandise is like new and your needs are going to be short-lived. Once a month, stop by all the consignment shops in your area looking for deals. Strollers, swings and toys can be gotten for half price or better. You could save thousands. 3 Shop both sides of the aisle. When shopping for baby clothes, don't limit yourself to just boys or girls clothes. For some reason, they often vary wildly in price. And in the early years, the kids just don't care and nobody else can tell whether their pants and shirts are cut for boys or girls. 4 Join the club. Keeping in mind that your local grocery store surely wants to sell you stuff, it still may pay to seek out the stores baby club. Basically it works like this: You fill out a form and they will send you a free newsletter with lots of "baby" advice. Plus, lots of discussion about products including free samples, baby "starter" kits, and coupons and so on. Obviously, that's where the payoff begins. 5 It's who you know. Surely your friends and family have had babies in the past few years. Make a list of all the kids you know under five years old. Call their parents and you'll probably get a free crib, highchair, playpen and a Hefty bag full of baby clothes. |
|
|
|
|
|||
