5 Ways to Afford a Baby You Weren’t Expecting
You’re expecting a baby, congratulations! Having an unplanned baby can be a bit nerve wracking, but if you plan your expenses well it won’t be as scary as you’re expecting it to be. Here are my five tips for preparing financially for a baby.
Sell Things You Don’t Need
One of the easiest and quickest ways to make some extra cash is to sell some things around the home that you don’t need. Clothes you haven’t worn in a year, furniture that’s sitting around doing nothing, or equipment from old hobbies can all help you bring in some extra cash. A bonus of getting rid of old things is that you’ll have more room for the baby’s toys, clothes, and furniture when he or she gets here!
Decide What You Can Cut Down On
If you’re the type to go out for drink with friends every weekend, or if you love catching all the latest films at the cinema, decide if those are things that you could cut down on or even eliminate for a while. Have friends around for dinner instead, or have a BBQ where everyone can bring their own favourite side dish and you can make the main course. Switch out the movie budget for a cheaper option like Netflix instead, and consider cord-cutting, it’s becoming more and more popular with the rise of cheap streaming services.
Weigh Your Options
A great car seat is something you’ll need without a doubt, but decide if it’s possible for you to cut out expenses in other areas. If mum is planning on staying home with the baby, breastfeeding is a cheaper option than formula and you won’t have to buy an expensive breast pump. Opt for cloth nappies instead of traditional ones, and look for good quality used baby gear in thrift shops. Don’t be ashamed to ask any other parents if they have items their baby has outgrown that they’d be willing to pass down to you.
Get a Loan
If you’re really strapped for cash, consider taking out a loan; ukhomeandpersonalloans.co.uk offers loans to people who have bad credit. Taking out a loan will help you pay for those expensive but necessary items like a cot and a pram, so that you can use what you have saved up for things like clothes and nappies.
Pay Off What You Can
If you have a car with only a couple thousand left on it, try to pay it off before the baby gets here. That should free up a decent chunk of change and will lift the weight of an expensive monthly bill. Try paying off some credit cards, especially the ones with high interest rates. If possible, move the money on your high interest card over to one with a lower rate, that should save you a bit of money in fees per month which will make it easier for you in the long run.
I hope this post has inspired you to stop worrying, get out there, and start preparing for your new member of the family!
This is a guest post