Determine what your current expenses are and budget in additional expenses for your new baby. These may include diapers, laundry services, clothing, and bedding, as well as medical expenses. Determine if you have enough surplus in your budget to cover these expenses. Use our Spending Reduction Worksheet to help you reduce your spending if necessary.
Ask friends and family members for baby items they no longer use that can be handed down.
Look for sales and bargains to cut down on the costs. Remember, families no longer need baby items as their children grow older so these items will often turn up in classified ads and garage sales.
Start contributing to a college savings plan for your baby early on. Use our Monthly Deposit Savings Calculator to help you determine at which rate you’ll need to save in order to be ready when the time comes.
