Cute as they are, having a child will make your bank account look a little less cute. There are all kinds of hidden expenses associated with pregnancy and for this, you will need to make a plan to save while also keeping your new and current expenses in mind. Many of the things you have enjoyed in your pre-mom condition might no longer seem affordable.
However, it's worth the sacrifice. Being a parent is worth it for those who have their hearts set on having a family and there are definite ways to make it easier on the wallet. However, even with those shortcuts in mind, it is still going to be something that new parents have to plan for.
Here are 10 reasons to start a savings when pregnant:
10 Diaper Costs
Your new arrival will need nappies. Lots of them. Lots and lots of them. No-one quite tells the expecting mom how many. It could be four to six nappies a day, meaning that those huge bumper diaper bags won't last as long as you expected, as a pre-mom with a pregnant belly.
For this you will need to start a savings since diapers aren't really something you can compromise on. You can do your homework and find out about more affordable diaper ranges, however, you will still need to save for them.
9 Medical Costs
Babies need various injections as routine, and it is advisable to stay on a good medical aid to support the costs of these, as well as other medical expenses which might occur.
Medicine is often not cheap, and might be needed for anything, from an upset stomach to a feverish child who needs medicine so they (and you) can get a good night's sleep. It's always best to have a good medical plan in place, just in case. It will give you, and your child, peace of mind.
Those tiny shoes, pretty Alice bands, and mini super hero outfits are to die for! They are also to save for! Small branded sneakers might be the shoe you always dreamed of for your little girl or guy but they cost almost the same as the big versions of the shoes.
Also, while the baby arrives small enough to fit in a shoe box, this same baby will grow - very quickly. Before you know it, they will need the next sized clothes and so it will go. Buying second hand is a wonderful way to cut clothing costs but it will still ad up very quickly. Start saving mom!
Initially, a new mom might feel quite overwhelmed. She sits many times with just herself and baby, sometimes remembering her old self and not quite able to relate to this person who used to be there. Then the world starts to open up again and she discovers other new moms are experiencing the same thing.
They realize they can organize something called 'play dates'. This, however, could cost money. Taking a baby or toddler to fancy entertainment spots, with tunnels and castles and playhouses costs money.
6 Food Costs
As much as you would like your new little tyke to dig into a hamburger with yourself and hubby, it's just not going to happen... for a couple of months. When the baby starts to eat, their preferred food is not what you would necessarily order off the menu.
Think, mushy pumpkin and sweet potato, and soft rice porridge. Branded baby foods can be expensive and they are essential since your little girl or guy's system is still adapting to solids.
5 School And University
No new mom thinks school is even an issue. She blissfully believes her new child will remain lying all cute and cooing in the cot. It's only when he or she starts crawling around with exceptional fervor, far sooner than mom expected, that she realizes that her baby is growing up - and fast.
The years fly by and before you know it, it's time for preschool and then big kid school. It's imperative to save for these. School and university, including preschool, also have other hidden costs, like class outings, textbooks, school bags, lunch boxes, and uniforms.
4 The Holiday Season
Perhaps you still believe Father Christmas leaves presents beneath the tree. However, the reality is that you and your spouse are the ones who will have to take care of this. It's exceptionally fun being the ones to treat your child to all these surprises on Christmas morning, and seeing their pure joy as they ravage the gifts under the tree.
When they open their presents, you will see pure delight on their faces and it will warm your mommy heart. As great an experience this is, it also costs money and will require careful budgeting. Don't let the holidays become a headache.
3 Extramural Activities
Whether your child is sporty, or artists, or a bit of both, they might want to get involved in extramural activities. There are many classes that you can join as mom and baby, or mom and toddler. These, however, cost money.
Don't miss out on the opportunity of being part of these truly wonderful experiences because of financial concerns. Having a decent savings will ensure you get to participate together with your child and they will have a good introduction to life.
Balloons, decorations, invitations, party games, sweets and treats, and a party venue (if you choose to have the birthday party away from your home) can cost a lot of money. Many children enjoy inviting their entire class to their birthdays, which can be up to 35 children that you are going to have to feed and entertain for an entire day!
Not to mention the birthday gifts themselves. Children aren't really privy to budgets and how much things cost so their wish lists tend to end up on the pricey side.
1 Random Expenses
This category of things cannot be defined in a few words. It includes all those things you didn't realize were a necessity until baby arrived.
Dummies, bottles, bottle warmers, therapeutic toys, Kiddie DVDs and CDs, outing costs, bedroom decorating costs, transport costs (when they start school, you will need lots of petrol), school project costs... having a decent savings will help you to stay afloat when unexpected expenses (or even emergencies) crop up. It is always nice to have a safety net to fall back on when needed.
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