Stretching your baby budget: When to splurge or save
- Nov. 16, 2023
- 3 min read
How to budget for your baby
Which items to save and splurge on
Tips for saving for baby expenses
With a baby on the way, you have plenty of things on your mind, like what color to paint the nursery and how many onesies is too many. But what about your budget for those things and everything else? While you may want to splurge in some areas, others are better for saving.
Baby items worth splurging on
Whether it's for safety, simplicity or durability, sometimes it's worth it to spend a bit more on your baby gear. These investment pieces could even save you money in the long run by avoiding the cost of replacing lower-quality items. If you plan to have multiple children, you can reuse some of these items, further stretching their value.
These investment pieces could even save you money in the long run, by avoiding the cost of replacing lower-quality items.
When you're cruising with your baby on foot, a good stroller is worth every penny. Depending on your needs, you might look for special features like a jogging stroller, a lightweight model that's easy to pack up or a convertible stroller that can accommodate multiple kids.
A high-quality baby monitor can give you peace of mind whether you're sitting in the next room or have to run across the street to grab something from the neighbors. Compare different models for video quality and battery life, and check out smart monitors with advanced features like sleep tracking and Wi-Fi.
Baby items you can save on
While some purchases are worth the splurge, other baby products may not be worth overstretching your budget.
Everyone loves a baby fashion show, but there's no need to shell out for designer duds. Kids are messy and grow quickly, so do yourself a favor by buying inexpensive clothes that will fit for a month or two and will withstand a few stains. You can find great deals on used baby clothing at secondhand stores, and be on the lookout for hand-me-down opportunities.
Your newborn or toddler doesn't care if they have the trendiest toy of the moment. A few basic and affordable toys — even safe household items like boxes, pots and pans — are enough to keep your baby stimulated and happy.
You can spend a lot on a high-end, designer diaper bag, but at the end of the day, it just needs to be functional for you. A tote bag or oversized purse with plenty of pockets can even do the job.
Tips for sticking to your baby budget
When you're expecting, start preparing financially by building a baby budget plan. Start with a list of the essentials, then add the nice-to-haves and wishlist items. Use that master list to shop smart and identify the items you can splurge on and those that are better to save on. As with all budgets, it's all about balance.
Save and spend the right way
Planning for all the baby gear you'll need can be overwhelming, but you don't have to overspend to get all the items your baby needs. With strategic saving and splurging, you can stick to a balanced baby budget.
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