This is a guest post written by my good friend Kristen Foley. She blogs about her life as a nurse and mother on her blog, Scrubs and Pastries. I’m excited for her to share her tips for how to have a baby on a budget, a phase in life I have yet to experience.
Kristen and her adorable daughter Abreanna (Aby)
My husband and I had a baby girl in January of this year. One day last summer when it was hot out and pregnant ol’ me needed a Slurpee, I glanced over at the magazine rack while paying for my treat. I saw a headline that made me stop in my tracks. “Million-dollar Babies.” – Mclean’s. I quickly opened the cover to find that the average cost of raising a child in Canada is $670,000! So, if I’m correct with my math and we have two children, that puts us at over a million dollars to raise them? That can’t be right! Can it?
The article is a good read actually and lays out costs you might have forgotten about along with predicted costs (so we don’t really know how accurate the predicted costs are). I can’t really speak to raising a “family” yet as we only have one child (and we aren’t paying for daycare/a nanny yet) and she is just five months old. I can, however, tell you ways that we have learned to cut costs and spend wisely with a baby.
1. Start lumping small amounts into a savings account when you find out you are expecting
We started saving small amounts every month for purchases that we knew we needed to make in the following months before the baby came. Having saved up a little at a time to buy bigger items (like a crib) helped us avoid putting a huge dent into our budget when the time came to buy something. This also helped us see how much was in the “baby fund” and to budget for items accordingly.
2. Buy some things second hand
It is amazing what you can find second hand. We have used sites like Craigslist and Bidwars as well as thrift stores and consignment stores (Once Upon a Child) to find bigger ticket items that are crazy expensive to buy brand new! We found a pack n’ play (playpen) second hand on a site called Bidwars for $25 dollars (that is usually $150 brand new!). We also bought our crib on Craigslist for $250. That sounds like a lot, but the crib converts into a toddler bed with a railing and a twin bed frame for down the road when she is older. It was also $600 originally.
3. Invest into big items
As stated above, our crib was a bit pricey, but it was a good investment because it will last our girl until she is well into her teens!
Are you planning to breastfeed? Maybe invest in a breast pump (that you can use for all of your children!) or a double stroller if you know you want to try soon for a second baby and will need to wheel around two young children.
4. Cloth diapering
Some people may be grossed out by the idea but it’s honestly not any grosser than using disposable diapers to me. They cost a bit of money up front (about $200-$300 – we were fortunate that ours were gifted) but can save approximately $300-$400 per year or about $1,200-1,500 per child until they are potty trained. Everyone has their own estimates about this, but let’s face it, cloth diapers (along with being green) DO save money!
5. Breastfeed
I could go into the many benefits of breastfeeding but I won’t.
Breastfeeding saves a ton of money (and is so good for your little one too!). Breastfeeding can save between $1,000-$3,000 per year (approximately) depending on the type of formula you use. There are costs to breastfeeding (buying a pump, nursing bras, nipple creams and reusable nursing pads), but those costs are one time and breastfeeding would still save you money in the long run over formula feeding.
Side note: I do, however, understand that it’s not always a reality for every woman to breastfeed and circumstances can make breastfeeding nearly impossible. What you might not know is that your local public health unit (in the Lower mainland at least) offers free one on one breastfeeding support with a nurse specialized in breastfeeding (often a lactation consultant) and there are support groups (La Leche League) in many areas all over the country to help moms who are struggling and/or need help/have questions.
Another side note: If you do buy formula, download the app “Checkout 51” and you could save money! This app gives you money back when you upload receipts with the items they have listed. I saw a Similac cash back offer for $5.00 this week if you purchased Similac formula (they have other great grocery items on there too).
6. Don’t go out and buy tons of toys and gadgets for baby right away
We learned this the hard way. We spent $50 on a swing (used and regularly $100) that our daughter ended up using twice because she didn’t like it. Instead, try out toys in the nursery at church or at a friend’s house to see if your baby likes it before you spend an arm and a leg on it!
One of her favourite toys at the moment is a $3.50 shape sorter we got from our local thrift store (which I kind of want to keep a secret because of how great of a store it is!).
We get creative with play time. The other day I got out some plastic bowls and spoons for her to play with and she had a great time! We also read (appropriate) adult novels out loud, look at photo books together and play outside!
Play time doesn’t have to be expensive!
7. Avoid name brands whenever possible
Just the other day I asked my husband to pick up some breast milk freezer bags from the grocery store. The pack of name brand bags (50 count) usually costs me about $14.99 but he found the store brand breast milk bags at $6.99 for 50! Some cost comparison can go a long way!
8. Acquire some baby clothing in neutral colours/styles
Clothing shopping for girls is very fun but it can also break the bank. Everything is so cute! I have tons of items in pink/purple with lace and frills. I’m all set if I have another girl, but if I have a boy, I don’t have much to offer him!
I have since learned that neutral colours and styles are helpful to reuse. I have some orange, green and yellow onesies that I plan on saving for future children.
To sum things up, having kids does cost money (and I’ve only just begun parenthood!) but there are ways to cut costs and save money along the journey.
Planning for expenses has been a big part of what has helped us stay on budget with a baby. We continue to put $50 aside each month for upcoming costs for our girl. A high chair is next!
What are your ideas for saving money while raising kids? I’d love to hear more from you!
You can also check out one of Kristen’s latest blog posts, 100 Fun Things to Do With Your Kids, for some other ideas on how to save with your children.
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