Baby on the way? There’s no need to overspendTuesday 17 March 2015, by The Media Team
Are you a first time parent? It can be tempting to spend money on lots of new bits and bobs for your bundle of joy, but you might not actually find all of it as useful as you hoped. The Money Advice Service found that in the first year of their baby’s life parents spend between £1,600 and £7,200, and many admit they bought items they don’t use.
Here are some top tips from the Money Advice Service on how to keep costs low for your child.
Think before you buy and be prepared to shop around
You don’t have to get everything you need in baby high-street stores. Considering supermarkets and websites can be one way to cut the costs. Keeping an eye out for sales is another way to make sure you’re not spending where you don’t need to.
Before you buy something big and expensive, think about whether you will actually use it. Buying something that is too bulky or complicated to use every day may mean you end up using it less than you think.
Resell instead of stockpiling
Don’t stockpile before your baby comes along – for things like nappies and wipes, you can’t be sure what your preferred brand will be before they arrive.
Reselling can be a great way to clear out what you don’t need or don’t use. If you’re buying baby equipment, hang onto the boxes, and keep the tags on baby clothes until you’re sure you will use them.
For more tips, see our guide on cutting costs for first-time parents.