Baby budgeting: Four ways to prepare for your new arrival

It’s not just teenagers that can leave a dent in your finances! Babies are expensive too, so it’s wise to prepare for your arrival. A little bit of budgeting and organization goes a long way, so here’s how to improve your bank balance and reduce your outgoings.

Take control of your debt
With a newborn on the way, it can be tempting to shop ‘til you drop! Cute little booties, adorable dungarees and swinging cribs can be hard to resist, but you must take control of your debt first. Of course, it’s hard to get out of the red, but paying off outstanding balances and credit card consolidation could help put you on the right track. If you’re having difficulties, call up the relevant companies and put a payment plan in place as this could improve your credit rating. 
Consider second-hand goods
Babies grow at a rapid rate. This means they’re only in their teeny tiny clothes for a couple of months at max. With this in mind, it’s worth buying cheap and cheerful items that don’t cost the earth. Everything from sleeping suits to little mittens can be found in charity shops and you can even find a great selection of garments online. Moreover, speak to other mums and see if they have anything you can buy at a discounted rate.
Try not to panic buy
While it’s great to have the nursery sorted before your newborn arrives, try not to max out your credit card and panic buy. Many shops have great deals on at the moment, so don’t settle for the most expensive equipment if you’re running out of time. You can always order significant things such as a Moses basket or pram online and these will be at your front door in a matter of days. What’s more, don’t worry if you’ve not yet finished baby’s room, as they’ll probably be sleeping with you for the first six months anyway.
Throw a baby shower
Baby showers are popular these days, so why not take advantage of this recent craze? People love to bring gifts and all the bits and bobs you receive could save you a fortune down the line. Of course, you can’t expect guests to spend a fortune, but if they ask what you want, tell each person something different. That way, you’ll get a whole array of goodies that should last you a decent amount of time.
Babies are expensive, but there are plenty of ways to cut corners.

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