The following post is by MPFJ staff writer, Catherine Alford. Cat is a freelance personal finance writer who blogs at www.BudgetBlonde.com.
I did as much preparing as anyone could for two new babies coming into the world. I saved a huge baby fund, I carefully selected the gear, and I had everything pretty much ready to go when they arrived, even though those sneaky little kids came five weeks too soon.
Even with all the preparation, there were about 5 money tips I wish I knew before I got pregnant and had them. Here they are:
1. Don’t Spend a Lot of Money on Newborn Clothing
I thought I was being really financially savvy by purchasing a big lot of newborn clothes on eBay. When I did this, I paid as little as $1 an outfit. The clothes were very high quality, and some still had the tags on them.
Well, now I realize why. In those early newborn days, my twins pretty much stayed in their pajamas 24/7. They were so small and seemed to be cold all the time. I kept them bundled up in those little footed onesies for weeks. The only time they really put on “real” clothes was to go to their doctor’s appointments. I had about 20 outfits for each one of them for that time frame, and they grew out of many of them before they could even wear them. Going back, I would purchase way more 3-6 and 6-9 month clothes, because that’s the time when you really start to get brave and bring them out and about to the world.
2. Expect to Buy Several Versions of Products
Every baby is different, and so when you sister swears by one type of blanket and your best friend swears by one type of bottle, it might not necessarily apply to your child.
Now, listening to their recommendations is good because at least you have somewhere to start, but don’t be surprised if you baby spits out the pacifier that your aunt said was the only one that ever worked for her kids.
Because of this little phenomenon, you might find yourself buying several versions of products. We were gifted bottles secondhand by a friend and they turned out to be way too hard for us to clean. Then we purchased another type of bottle that worked great until both twins developed severe reflux and then did better with yet a third type.
The same might happen with formula, diapers, wipes, and countless other things. The good news is that by about 3 months you should know many of the things your kids prefer.
3. You Won’t Get To Buy Everything
Unless you are very independently wealthy (and if you are, congrats), you won’t be able to buy your kids everything you want to buy them. It’s actually really hard because you want the best for them. You want them to have everything and more. You want them to have what you perceive to be the safest, healthiest, and best rated everything.
Yet, if you are anything like me, you’re going to have that moment in the store, the time where you just stand there staring at all the prices, and it breaks your heart a little to go with the store brand. You’ll remind yourself that it’s not a big deal. They wont remember it, and God knows what your parents fed you or bought you, but it is a terrible feeling knowing there might be something just a little bit better that’s not exactly within your reach.
I suppose the important thing to add to this is that it’s much better to walk away and not break your budget for these products, whatever they are. It’s far more important for your kids to grow up in a home that’s financially stable than one that is filled with the “best” toys and struggling to pay their bills.
4. Add Them Into Your Budget Ahead of Time
I knew that I was going to have to get used to a new category in my budget, and let me tell you, the “twins” category keeps growing from month to month. Even though I knew it was coming and saved up a big baby fund, the costs still really catch me off guard.
It’s mostly the random, unexpected things like reflux medicine and 8 million packs of wipes that have you wondering how you went through it all so fast. If I would have added a good $100-$300 in my budget ahead of time to get used to the costs and fluctuations, it would have been much easier than just knowing I had the baby fund. There’s just something about the act of having that section in your budget that would have made for an easier adjustment.
5. Strollers are Really Expensive
Have you ever looked at the cost of baby strollers? Well, why would you unless you had a baby on the way, right? Well, those things are expensive. Or, I should say the good ones are expensive.
Now there are a few things you can do. If you’re not picky about the brand or the style, you can really scour Craigslist and consignment stores for what you want. I had to find a double stroller, and the ones I found on Craigslist just weren’t exactly what I wanted, which was one with really big, sturdy wheels that made it easy to push around. With two babies who are growing like weeds, I’m so glad I stuck to my guns. Confession: My stroller was $600. Luckily, my parents gifted it to us. It really isn’t that expensive normally, but we had to get several extra twin attachments for the other baby! Yep, twins come with all sorts of extra costs too, but I’ll save all that for another post on another day.
How about you all? What were some of your unexpected baby costs?
Share your experiences by commenting below!
***Photo courtesy of http://upload.wikimedia.org/wikipedia/commons/b/b9/Baby_on_Back.jpg
