Whether you just had a baby or you’re expecting, a new addition to your family can be a happy time to celebrate. Although your financial habits will change now and you’ll have to reconsider your old budget, there are still ways you can cut back on the additional expenses with some of the following tips:
Take advantage of free samples
As long as you know where to look, it’s easy to get a lot of free samples for your new baby. From diapers to formula, check social media profiles, company websites, and sign up for newsletters. You can also reach out to manufacturers on your own and express your interest in trying out their products, and ask if it’s possible to receive any free samples. Also, the hospital often has free samples available for new parents, so don’t be afraid to ask.
Take advantage of sales
If your local grocery store is having a sale on any baby essentials, use this as your opportunity to stock up. Even if you already have plenty of a specific item, as long as it’s a non-perishable, stocking up when prices are low will help you to save overall.
Buy diapers in bulk
Diapers are something you’ll never have enough of once you have a baby. In addition to stocking up on diapers whenever they go on sale at your local grocery store, you may also want to consider purchasing them in bulk at a wholesale store. If you don’t have a wholesale club membership, now may be the good time to invest in one—it will probably pay itself off in no time.
Coupons are a great way to save on items at the grocery store, and baby essentials are no exception. When you check your different resources for free samples, also look for manufacturer coupons. Your Sunday newspaper is also a good place to find both manufacturer coupons and store coupons. Pair them together to receive optimal savings, and you can potentially save a lot of money each month on diapers, baby food, and more.
Check out garage sales and thrift stores
Because babies grow so fast, you can almost always find gently-used (or even brand new) baby clothing at local thrift stores and neighborhood garage sales. This can be a good, fun way to build your baby’s wardrobe, and for a fraction of the cost.
Make your own baby food
Once it’s time to begin introducing solids into your baby’s diet, you’ll have other options aside from store-bought baby food. Instead, consider making your own food by purchasing (or growing) your own fruit and vegetables, and then pureeing them in a blender or food processor. Not only will the food be fresher and tastier, but it will be more cost-efficient to make your own baby food.
Don’t forget about tax deductions
If this is your first child, you may be unfamiliar with tax breaks and deductions that you may be entitled to now. Consider hiring an accountant the next time tax season rolls around to help you out, and so that you can familiarize yourself with the tax deductions you qualify for.
Are you receiving annuity payments, but could use some more cash to take care of bills and expenses? If you’re tired of waiting for your periodic payments to arrive, Peachtree may be able to help you get your money sooner. By selling some or all of your future payments to Peachtree, you can receive your money in one lump sum. Contact us today to learn more about selling future structured settlement payments for a lump sum of cash.
Nothing above is meant to provide financial, tax, or legal advice. You should meet with appropriate professionals for such services.