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Mom-and-Baby

Saving Tips for New Parents

By Navid Boostani | March 22, 2016

You might already be an expert on saving money when it comes to your own purchases. But if you and your partner are becoming parents for the first time, you likely need a little guidance on how to save money on purchases for your baby.

 

Take Advantage of Coupons & Samples

Many manufacturers give hospitals samples or coupons for their products. Ask your nurse if they have any available before you leave the hospital.

Buy in Bulk

Like everything else, diapers are cheaper to buy in bulk. Always look at the price per diaper when buying diapers. Most retailers list this information. If not you can easily calculate this yourself by dividing the package price by the number of diapers in the package.

Buy store brand

In Canada store brand diapers are $0.08 or so cheaper than name brand. Considering the average Canadian baby uses 6,000 to 8,000 diapers before they are potty trained, you could save $480 to $640 by using store brand diapers. Just make sure you find a store brand that your baby likes. You can also save a lot of money by buying store brand formula. All commercial infant formula is regulated by Health Canada and heavily tested, so you can be sure of the quality of the formula.

Buy what you need

You should delay buying items that you don’t immediately need. You may not need a crib right away because your baby can sleep in your bed or in a bassinet in your room. Also, you won’t need a high chair right away. Postponing purchases can help you manage your cash flow and give you the opportunity to find a good sale while you wait.

Make your own baby food

You can easily make your own baby food from fresh veggies and fruit in a small food processor. It’s cheaper than buying baby food from the store, and likely healthier. You can store any leftovers in the freezer so they don’t spoil.

Borrow what you can

Ask your friends and family with older children if they have items that you can borrow. They will most likely be willing to pass on baby clothes and other gear. Some of the items you may be able to borrow include bouncy chairs, change table, highchair, and baby carrier.

Buy Second Hand

Shop on craigslist or at yard sales to find second hand clothes that you can buy for pennies on the dollar. You’ll find most second hand baby clothes are as good as new because they’ve only been worn a few times. Just make sure you launder everything before use.

Safety First

Don’t buy a used car seat or crib. The manufacturers always come up with safety improvements so it pays to buy new. Also, it’s hard to tell whether a used car seat or crib is damaged.

Don’t Buy Shoes

There’s no denying that those tiny baby shoes are adorable. But they are not necessary, and could even squash your baby’s fragile feet if they’re too tight. You should wait until your baby starts walking outside on her/his own before you buy her/him shoes.
 


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Navid Boostani

Navid Boostani

Navid is a co-founder and CEO of ModernAdvisor. He is a problem-solver and is passionate about bringing affordable and unbiased investment management to all Canadians.