What can you do with 400,000 USD? According to the US Department of Agriculture, parents in the US would spend that much from the time their baby is born until they’re 18 years old (this includes basic necessities like food, clothing, education, and other related expenses). Sounds overwhelming, huh? I mean, just imagining all the things you could buy with 400,000 USD would definitely make one think twice about parenthood. But don’t worry, we’re here to guide you through some tips to help you plan your budget!
Pass on the “wants”
The cute outfit you saw at the department store that you swore your baby “REALLY NEEDED” for this weekend’s birthday bash? Reality check - your baby can live without it, and so can you.
As new mums, just strolling around the mall’s baby section for a few minutes makes us want to shop like crazy. Specialty bottles, unique toys, and designer clothing are all too tempting. But trust me, just pass on them! Give yourself a week or two before finally deciding on whether or not to buy that item. Cause in most cases, it is just an impulse buy.
Find other ways of making money (while you’re on maternity leave)
If the company you’re working for offers a paid maternity leave, then that’s great for you! But it would be better if you used some of the extra time to slide-in some activities that could help generate some income for the family.
I was lucky when I got pregnant with my first child as my mom and sister were there to help look out for my kid while I was recovering. On top of that, the company I worked for offered a 120-days paid maternity leave, so you could guess that I had a couple of hours a day to play around with. So what I did was I accepted some freelance writing gigs. The great thing about freelance gigs is that most, if not all, do not require you to show up in person. Just a laptop and a stable internet connection would do!
If you’re wondering, I got my gigs from fiverr.com and upwork.com, these are great freelancing sites if you’re looking to make some extra money on the side. Though the pay was not that big, it still helped with the bills a bit.
Don’t be afraid to borrow!
If you have friends or family members that recently had a baby, don’t be embarrassed to ask them if they could lend you some of the baby stuff they’re not using anymore. To be honest, most of the day-to-day stuff my first child used was from my older sister! Bottles, clothes, toys, etc. you name it and I probably just borrowed it from my older sister… lol. With that, all I had to spend on were the diapers and milk, which to be honest are the most expensive ones if calculated over time. But still, borrowing helped me save a ton!
Want to get new mum stuff but are on a budget? Check out our sale section for the best bang for the buck deals!!