Having a baby is an emotional time in your life. Joy and happiness are present, mixed with uncertainty and nervousness, especially if you are a first time parent.
Add in a lack of sleep, and having a baby is an emotional ride.
It can be challenging as well, especially when you look at it from a financial perspective. This is why it is important to know how to save money on baby.
When we had our first baby, we were hysteric. We didn’t know what to do. Everything looked scary and it was quite challenging from a financial perspective, too.
However, by the time we welcomed our second child, we knew what to do. We were able to save money on baby and were better at facing any problems that came up.
However, many other parents are not that lucky.
A report published by the USDA studied the cost of bringing up a baby. According to the report, the average American family spends about $13,000 on expenses in the first year of the baby’s life.
This jumps up to $12,500 for the second year. Over the course of their first 17 years of life, parents are looking at a total more than $233,000 to raise a child.
You’ll be spending about $2,448 per year on baby food, formula, and diapers alone. Add more expensive items like clothes, childcare, sports equipment, toys, and furniture and the cost goes even higher.
This is why it is important to find ways to save money on baby.
The most important thing is to understand where you spend most of the money so that you can save as much money as you can.
In this post, we will look at the many ways you can save money on your baby, including: