The birth of a child is the most important event in the relationship of a married couple. It changes many aspects of everyday life. Changes begin long before the baby is born. Parents should take care of creating comfortable conditions for the newborn during the stage of pregnancy.
The number of family members is increasing, so the costs of the family budget will increase. The lion’s share of the expenses will be spent on the arrangement of the children’s room and the essentials for the baby. Not all parents adequately assess the costs of the above aspects.
Ways to optimize the family budget
An increase in financial expenses is observed from the period of pregnancy. Free medicine includes a very small range of services for pregnant women. Frequent consultations with doctors, ultrasounds, a special diet, and so on will make up the column of fixed costs.
The costs will be even greater after childbirth. Some things will have to be purchased almost daily, such as hygiene products or food. Something will have to be updated periodically. This category includes medicines, vitamins, and clothes with which babies grow up very quickly.
There may be other unplanned expenses. A young family with a baby should be prepared financially for various unforeseen situations. There are a few financial tips that will help save you money and nerves.
Start saving money early
This does not mean that you need to go on a strict diet and limit yourself to many other things. You will have to adjust your schedule and prioritize. Visit a nail salon less often, give preference to a home dinner instead of going to a restaurant, and do not buy a new blouse. The future dad will also have to make some sacrifices, even if he replenishes the family budget.
Such restrictions are unlikely to threaten a family with an income above the average. The margin of financial strength will allow you to stick to the previous routine. It is not worth postponing this to clearly distinguish between finances “for the baby” and your expenses.
Make a financial schedule
Drawing up an income/expenditure plan is very useful for optimizing the family budget. Record current expenses and income. Separately highlight the column for monthly deposits in the “children’s fund”. Please note that in the future only one of you will bring money to the family, while the second will be on maternity leave with a child. In addition to the usual expenses (food, utilities, loans), new costs will also be added.
Make a separate list of expenses. Several columns need to be selected. First, enter the cost of daily purchases. This includes food and diapers. The second column will be made up of “one-time” purchases – a crib, a stroller, and the repair of a children’s room. Calculate how much money will be spent per month on other goods – clothes, toys. Separately reserve funds for force majeure.
Do not rush to buy children’s things
Many families try to stock up on baby items even before the baby is born. Not all things require urgent acquisition. You can buy clothes as the child grows, and not pick up a bunch of blouses at a discount. You should not stock up on baby formula for the promotion either – food tends to deteriorate.
Relatives and friends will give a lot of things to the child after birth. This is also one of the reasons why you should not buy large quantities of clothes or toys in advance. You can arrange in advance with relatives about specific gifts. You can ask your friends about a used stroller or crib. If the thing is in excellent condition, do not refuse it. You can save money on this and perhaps your friends will give it away for free.
Open a deposit
It is not necessary to spend all the money donated for the wedding on a honeymoon or apartment renovation. Think about the future. Leave some money to provide for the planned child. You can ask future grandparents to replenish the “children’s” deposit. Do not withdraw funds from the deposit before the birth of the first child. The money set aside and the accrued interest will create financial support by the time of pregnancy. You can withdraw part of the money after childbirth if necessary. The rest is to be reissued for a minimum period of 3 months.
This approach can be used for other purposes when raising children. The practice of depositing to pay for a child’s education at a university is widespread. Make a deposit shortly after the birth of the baby. A substantial amount will accumulate by the time the child reaches the age of majority. This money will cover the cost of education to a greater extent.
How Often new Parents are Not Prepared for a Baby Financially?
Everything begins to change already in the first months of pregnancy for future parents. You need to change habits and give up certain things for the good of the future. Costs need to be controlled. Not everyone can adapt to a new way of life.
Further spouses expect even greater difficulties. The child will constantly have to be provided with important things that are not always affordable for young families. Usually, the financial security of the family is the husband’s concern. The husband needs to reconsider his career plans if before that he worked at a not very highly paid job. You need to look for a more profitable position or get another job.
Importance of Being Prepared Financially for baby
It is very important to give the child everything necessary in the first months of life. A balanced diet, comfortable room conditions, comfortable clothes, suitable toys, and much more. These factors significantly affect the health of the baby and his mental development. It is necessary to have a solid financial basis to provide all this.
You can feel more confident by planning your expenses some time in advance. A well-formed spending schedule will help save your nerves. By purchasing a batch of diapers in advance, you will not have to urgently look for a 24-hour supermarket later at night. You will be ready at any time to take your child to the doctor at the slightest suspicion of health problems with a reserve family financial fund.