first time parents

Expert-Approved Ways to Save Money as First-Time Parents

Saving money can sometimes feel borderline impossible, especially if you've recently become a new parent. Suddenly, all money feels like it's going to countless toys, food, and other tailor-made items for your little one.

Unsurprisingly, many new parents become stressed out even thinking about money when a newborn arrives. Luckily, plenty of first-time parents are here to help ease the financial burden by passing along plenty of invaluable tips and tricks they've learned!

1. Buy Second-Hand

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New baby items are expensive, as any new parents can attest to! However, as countless new moms and dads outlined, there's an easy remedy for sticker shock. One recommends buying the things you want second-hand. The Facebook marketplace is an excellent place to start. “As long as you disinfect the items, many second-hand things are as good as new!”

2. Chat With Other New Parents

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Sometimes the best money-saving tips come from fellow parents who've already been through it all. Who knows what kind of money hacks they know – of course, you'll never know if you don't ask! Consult with people you know who have recently had babies and ask them what they used and needed rather than what they just accumulated. “One parent advises, “You would not believe how much money can be saved.”

3. Consider Breastfeeding

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Out of all the tips that parents have given, the most overwhelmingly popular one is to consider breastfeeding your baby. The amount of money you'll save makes it all worthwhile. “Breastfeed (if you want/can),” suggests one mother. Otherwise, many note the Kirkland formula is very cost-effective. Several others have chimed into vouch for the quality of Kirkland-brand baby formula, making it a perfectly fine substitute for breast milk.

4. Make Your Own Baby Food

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Like it's often cheaper to grow your own food in a personal garden, making your own baby food has severe monetary benefits. “It's healthier, cheaper, and quick,” one parent points out. You only need a basic hand blender, or you can use a fork to mash things up. Granted, this method might take a little bit of elbow grease, but in the end, your wallet will thank you for it.

5. Keep it Simple

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Being a first-time parent shares many similarities with other major life events in that sometimes, the best advice is to keep everything simple. Countless parents have said it's important to keep your stress levels low and not overthink every little aspect of being a new parent. Keep it simple – create a budget to gauge how much you could save a month,” one dad recommends.

6. Don't Stress Over Toys

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While it may be tempting to buy your little one an endless stream of new toys to play with, that endeavor is simply an exercise in futility. One parent advises limiting your toy-buying to just a few a month for a good reason. “Our little one is 15 months, and most of the time, she is playing with non-toys,” says another mom. “It's to the point where we've stopped asking people to buy her things but instead experiences.”

7. Meal Prep

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Not every tip has to be new child-centric; this tip is literally for new parents. Meal prepping is a fantastic way to save money, and it offers convenience in a way that preparing a fresh meal just can't provide. According to one mom, buying an upright freezer and meal-prepping is winning.

“Saves money and is so nice for days you don't have the time or energy to cook.” So not only is it a money-saving hack but meal prepping can potentially be a sanity-saving hack!

8. Check Out Your Local Library

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Multiple parents suggest checking out your local library and seeing the programs offered. “Libraries have a lot of great programs that focus on first-time parents and newborns,” one person reveals. You never know what's available to you unless you research it. You could miss out on fun “mommy/daddy and me” reading classes.

9. Throw a “Diaper Party.”

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Here's an idea we can get behind. “When I was pregnant, my partner threw a ‘diaper party.' He had a keg and a BBQ, and his buddies came over with a box of diapers to eat and drink all day,” one mom shares. “Those diapers ended up lasting us the first year of my daughter's life.” Finally, she confesses it's now a lifelong dream to be invited to a diaper party.

10. Tell Friends and Family That Cash is King

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Don't be afraid to be honest, and direct with your loved ones. If you need cash, let them know! “Tell all the family and friends, no clothes and no toys as gifts,” one mom advises. “Cash is king. You can then decide what is needed.” This is arguably the most clever tip of all. It cuts right to the chase!

This thread inspired this post.


Chris Phelan
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