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Baby on the Way? 9 Practical Ways to Save Money

Baby on the Way? 9 Practical Ways to Save Money

If this is your first baby, you’re probably so confused that you’re not really sure what’s going on half the time. And this is completely understandable – the amount of excitement can cloud your judgement significantly and there’s no shame in that.

However, you need to come to your senses before the baby is born, especially if you’re on a budget. This is your family’s future we’re talking about and you need to be smart about it before you run out of money.

I know that a huge factor here is cuteness overload – baby stuff is irresistible and people who can stay indifferent to it have one really icy heart. The thing is that you should learn a skill or two from those night walkers because they can really teach you how to make a difference in your baby’s life and have your child want for nothing. Well, nothing they can’t live without anyway.

1. Avoid Brands

This is one old trick, but somehow, people tend to forget it. I know that most of you trust brands because they have a huge audience and they have been proving their quality for a long time – I don’t want to argue about that. However, I believe and I think that you might agree with me, that there’s no good reason to get a baby bottle that costs $500 when you can get a perfectly good one for about twenty bucks.

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This rule should be applied for all baby items. If you do your research properly and make sure that things you get are made out of materials that are durable and that will not in any way damage your baby’s health, you’ll be able to equip yourself properly without spending a fortune.

2. Stick to Necessities

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    Not all baby things in a baby store should be on your list of necessities – many of them are simply made-up. I never quite understood why having a changing table made it to this list – you can change your baby’s diaper anywhere. Besides, if you don’t have much space in your home, this will only take room – it doesn’t seem that practical now, right?

    It’s the very same thing with baby shoes – the fact is that your child will grow out of them within a month, and like other baby things, baby shoes can be unreasonably expensive, so this isn’t a thing you should waste your money on.

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    3. Coupon Up

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      New parents who aren’t financially stable need to compensate that lack of money with hours of additional research. It’s quite simple, really – you can get everything you need significantly cheaper if you search for it long enough.

      Obviously, my advice here is to start collecting coupons, not only when the baby comes, but also during your pregnancy. It doesn’t involve any hard work and, considering the fact that you should spend a lot of your time in a comfy bed as a pregnant woman, you can use that time for online browsing and discovering new sources of coupons.

      4. Second Hand Items

      Baby clothes and other necessities don’t really have time to get worn out, because they grow out of them very quickly, which is why you shouldn’t have any doubts when it comes to getting used items for your child.

      There’s another thing you should have in mind and that can come in handy – exchange. By joining in a parents club of some sorts, you’ll be surrounded by people who share your experience and your list of necessities, and exchanging advice along with items is a highly profitable two way street.

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      5. Bulk & Double Bulk

      The first year will be all about diapers and you can’t really have enough of them, so when it comes to things like that, you should bulk up. First of all, getting things in bulk will earn you a certain discount by itself, but if you combine that with a valid coupon, you should end up with a great deal.

      6. Breastfeeding Instead of Formula

      I know that this is your decision, but you should look at this situation budget-wise. Breast milk is healthy for your baby and it’s recommended that you feed your baby naturally as long as your body allows it. The other piece of this equation is that formula billing will affect your costs at the end of the month, so my suggestion is to revise your decision here.

      7. Family Babysitters

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        Once the first month of not sleeping is done, it’s healthy for you and your partner to spend some time out of the house, a couple of hours per week at least. This will help you gain some perspective, relax for a bit and enjoy doing nothing.

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        Instead of trying to find a babysitter you’re capable to trust with your baby and paying for their time, you should have your loved ones take care of your child – I’m sure that they will be thrilled to spend quality time with your cute newborn.

        8. Start with DIYs

        Parents learn how to practice magic in time, and they develop these extraordinary skills and learn how to make something out of nothing. You should start with your school of wizardry before the baby even arrives, as far as I’m concerned, and start by conducting DIY projects.

        This will most definitely pay off in the long term and perhaps this reveals a hidden talent of yours in the future. If that happens, you can even make money off it, but first thing’s first – try knitting or crafting your baby’s first toys and see where you go from there.

        This is just your base. You’ll be able to find many smart shortcuts by yourself in time – it will only take a while until you get inside the parents world, and everything will be a lot clearer when you finally arrive. I can only further advise you not to panic and don’t make any rash decisions. You’ll be just fine.

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        Ivan Dimitrijevic

        Ivan is the CEO and founder of a digital marketing company. He has years of experiences in team management, entrepreneurship and productivity.

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        Last Updated on March 29, 2021

        Life Insurance: A Secure Way To Protect Your Future.

        Life Insurance: A Secure Way To Protect Your Future.

        Life is a journey full of ups and downs. No one can actually predict what might happen the next moment; there are times where the happiest moments do not even take a second to turn into the gravest. Planning for your future can help you face such unwelcomed but irrepressible situations with much ease. We all want to make every memorable event of our life more special and to cherish all those moments happily and worry less, you must financially plan your future. But no one has control over life and death. Who would wish to see his family suffer in his absence? Insurance hands over the financial jeopardy of life’s happenings to an insurance company.

        Importance of getting a life insurance

        No one has control over life and death. Nobody would like to see their family suffering in an absence, and that’s why many people recommend life insurance. A life insurance plan is one of the best ways to secure the future of your family, even against those financial troubles after an untimely demise. These plans are safe and credible, and you could trust them for your family’s better future.

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        On the other hand, a life insurance policy is a contract between a company (insurance provider) and policyholder in which the insurance provider ensures to pay a certain amount of money to the nominated beneficiary in case of the policyholder’s death during the term of the agreement. There are different types of insurance plans, and it is important for you to know the benefits of those plans such as a funeral, medical or some life expenses provided they are mentioned in the agreement.

        Choosing the right insurance plan

        If you’re about to select an insurance plan, you should consider some important factors:

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        • The time at which you start investing in a program and the number of family members you want to get insured. Obviously, a married man with two children has different needs compared to a single one. The number of persons who are dependent on an individual also varies from person to person.
        • The next thing you need to consider is you and your family needs. What are your child’s dream, your retirement plans, for how long would your dependents need financial support, any personal injury, etc. And do not forget those events or situations that will surely demand a huge sum of money.
        • The next thing one must consider is your current income. You should preferably choose a plan which you can afford.

        Now you must be having a pretty clear idea of how to choose the best plan for you. Further, you should also compare various plans offered by different companies and numerous sites available online that help will you to compare them.

        Differences between life insurance plans

        Here’s a short brief of some plan categories you can choose according to your needs:

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        • Term Insurance Plan – You have to pay once, and your nominee gets the paid money under your misfortune demise. It ensures a person for a fixed time. If you survive the policy period, you do not get your premiums back.
        • Whole Life Policy – This plan continues for your lifetime. Under this, the policyholder has to pay regular premiums, until their death.
        • Endowment Policy –  In case the individual dies during the tenure, the beneficiary gets the amount assured. If the person survives the policy tenure, they gets back the premiums paid with other investment returns along with several other benefits.
        • Money Back Policy – In this a portion of the money invested is returned to the investor at regular intervals. If you survive the insurance term you get the entire amount back; else the beneficiary receives the entire sum assured.
        • ULIPs – These are the life insurance plans that offer you future security plus wealth creation options.

        Many people do not opt for whole life policy and endowment policy because of the high amount of money you need to pay, while others may prefer to opt for these if they have a high life expectancy. Surely you will find the best one for you.

        So what are you waiting for? Plan for your future and live a happier and carefree life today.

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        Featured photo credit: aryehsampson.com via aryehsampson.com

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