Raising kids is a costly process; nobody can really dispute this.
Actually, some studies evaluate the cost of raising one child to more than £200,000, with expanses peaking during the university years. But this does not mean that a baby’s first months are a bargain for parents; actually it is quite the opposite! The first twelve months of a toddler’s life can cost his or her parents close to £10,000! Of course many parents don’t mind spending this money: their love for their child has no price. Still, saving a few hundred pounds would certainly please most parents!
There are potentially so many baby items to consider, indoor and outdoor clothing. Pyjamas. Socks. Soft boots. Hats. nappies. Special hygiene products and accessories. Washcloths. Towels. A thermometer. Mild laundry soap. A crib. A mattress. A baby monitor. A dresser. A changing table. A rocking chair. A stroller. A rear-facing car seat. A front carrier. Toys. And the list goes on of he things you may need to buy when you are about to welcome a newborn in your house !.
Even when parents try to limit themselves to the material they will actually need to raise their baby and respond to his or her needs – that is, when parents avoid buying superfluous stuff or piling up needless surpluses – the bill still goes up quite quickly. Although some purchases are necessary to properly take care of a baby, there are some ways parents can buy what they need without spending exorbitant amounts of money.
Compromising on the “new”
Buying everything new might be an easy option but not only does it seriously increase the total amount of money you will spend just to get everything ready before your little loved one arrives, but it is pretty likely that you will only get a slight fraction of the price you initially paid if you eventually want to sell what your child does not need anymore. This is where things become clear: selling what you bought brand new will show money loss… buying secondhand is advantageous, because you pay much less for material that has been used for usually a very limited period of time!
Of course, some stuff invariably needs to be bought brand new: everything that is closely related to hygiene and car seats for example should not be bought used. But there are some areas in which you can compromise. Bedroom accessories are a good example: buying a crib, a dresser, a rocking chair and a baby mobile secondhand can help you save large amounts without having an impact on your baby’s comfort and care.
Although you should be careful with this, toys can also be bought secondhand; just make sure that they are safe. Other objects such as a a front carrier and a changing table also are good opportunities to cut down your expanses by large amounts. Jogging strollers also are very expensive when bought brand new: buying one secondhand is not only easy (many parents want to get rid of it just after their kid starts walking) but it also economical – you can obtain one for a fraction of the original price off the Internet.
Baby clothes can also be bought used quite easilytoo, for a fraction of the price, and still be in very good condition. Indeed, infants grow so fast that they usually do not wear the same piece of clothing more than a few dozen times. Bear in mind that many of the things you will buy for your toddler’s first twelve months will quickly have to be stored, sold, or given. Why, then, should you invest in new stuff only? Therefore, as the title of this article states it, you should compromise where you can.… and your child will be just as happy!
About the author:
Alexandre Duval is a blogger for Standard Life writing about money savings and valuable retirement products. He is also currently completing his master’s degree in political science at the University of Quebec in Montreal