The Cost of Babies

Welcoming a new baby into the family is an exciting time, but expectant parents all too often underestimate the true cost of their new arrival.

The Money Advice Service has recently conducted research into the cost of a new baby, and found that new parents can expect to spend as much as £7,200 before their child’s first birthday – and that’s without the astronomical cost of childcare that many parents will require. 

At first glance it’s difficult to believe that such a tiny human can set you back so much, but with big ticket baby essentials like prams, cots and car seats costing hundreds (and sometimes thousands!), it soon becomes clear where the money is going.

Many people will write these purchases off as a rite of passage for new parents, but the truth is it is possible to budget with a new baby in the house.

 A great way to keep your costs down is to make the most of all the offers and freebies available. Supermarket and store baby clubs have a plethora of exclusive deals and free samples available. Sign up for as many as you can in order to benefit from everything they have to offer.

Another way to save is by buying certain items second hand. For safety reasons car seats and mattresses should always be purchased new, but toys, clothes and other accessories can be purchased second hand for a fraction of the cost. Alternatively, if you prefer to buy new, there is always the option to sell items on once they’re no longer of any use to you.

Another key way to keep your costs down is to think carefully about what you will actually need for your new arrival. Bear in mind that many products are marketed as ‘must-haves’, when in reality they are nothing of the sort. 60% of parents admit to buying items they rarely use, so think carefully about this before you hand over the cash. Remember that friends and family will be keen to buy gifts for you and your little one as well, so it’s probably not worth buying anything except the absolute essentials in terms of baby clothes – otherwise your baby will have a more extensive wardrobe than you and your partner put together.

Above all else, remember to treasure your first few weeks and months as a dad. Your teeny tiny newborn won’t be that little for long, so enjoy it while it lasts.

This article is taken from Dadz Club





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