Personal Finance Advice

When expectant parents have a new baby on the way, it’s common to go a little overboard with purchases.  First time parents are the biggest culprits because they aren’t entirely sure what they actually need to buy and what is just plain frivolous.  After all, lots of expensive things seem completely reasonable until you realize you really don’t need that camera monitor because it makes you sit and watch your baby sleeping when you should instead be resting yourself or you never really use the wipes warmer.  Buying designer bedding suddenly seems a lot less reasonable once it dawns on you that you’re not supposed to put frilly bedding in the crib with your baby.

How can you keep your finances under control with a baby on the way? Here are a few ways to make sure you don’t go broke buying all the things you’ll need (or want) for your upcoming baby:

Talk to experienced parents.  You can save a lot of money by taking the time to ask experienced parents about what purchases are reasonable and which ones aren’t.  By having this talk you’ll discover that you don’t need a high chair until the baby is much older, there is no point in buying a baby gate just yet, and some of the cutest baby items are completely unrealistic and will never be used.

Stay on budget.  If you don’t have a budget for your purchases then there is a good chance you are going to spend too much.  Don’t rely on your credit cards to but the things for your baby because inevitably this will result in you spending much more than had planned on paying.

Don’t panic.  Time is on your side.  You don’t have to have a full decorated nursery four or five months prior to your due date.  In fact, if you have to wait to make some purchases until after your baby is born then this actually won’t be such a hassle.  After all, if you can’t afford to buy a changing table then you will be pleased to find that your bed or the floor works just as well, if not better.

Don’t place a price tag on love.  Your baby is going to adore you whether you bestow upon her a huge nursery full of the most trendy baby items or if you stick a secondhand crib in the corner of your bedroom.  Get it out of your mind that the amount of love you have for your baby can only be demonstrated by how much stuff you buy.  Not only is this an ineffective parenting technique, but it can be a very expensive one as well.

Get what you need on sale.  There are some things you absolutely need, such as a car seat and plenty of diapers. When you make these purchases, look for the best sales you can find.  Try to avoid paying full price whenever you can, whether that means looking for clearance sales or clipping coupons.

Congratulations!