If you’re a new parent, there’s a lot to think about. And in between feedings, diaper changes, nap times, anxious calls to the pediatrician, and your own desperately needed sleep, saving money is frequently the last thing on your mind.
But it doesn’t have to be. Here at J.G. Wentworth, the nationwide leader in purchasing structured settlement and annuity payments for cash, we understand the value of stretching every dollar. That’s why we’ve put together this list of seven ways to provide your baby all the loving care he or she deserves, while also saving hundreds – and potentially even thousands – of dollars in the process.
1) Begin shopping for necessities before you bring the baby home
Smart shoppers always plan in advance, and this rule definitely holds true for new parents. Rather than running out at the last minute and purchasing items at whatever cost the nearest store charges, think ahead about all the supplies you’ll need, and then diligently shop around until you find the best prices.
2) Go coupon hunting
Coupons are everywhere nowadays, including both the local newspaper and many online websites. To give just one example, Gerber offers discounts to parents who simply sign up on their website.
3) Buy used clothing, and borrow hand-me-downs
Buying used clothing can offer tremendous savings, especially taking into account how quickly babies grow. And nothing beats hand-me-down clothing from family and friends, who are usually extremely happy to pass down the clothes they dressed their own children in.
4) Buy powdered formula
For those using formula to feed their children, purchasing the powder, rather than buying ready-made cans, can provide substantial long-term savings of hundreds of dollars over the course of a year.
5) Make your own baby food
It’s easier than you think: all you’ll need are fruits, vegetables, a blender, and some small containers to seal in taste and flavor; you can even store your blended food in the freezer and save prep time at every meal.
6) Create your own mommy and me classes
You don’t have to go to child care professionals or national playtime chain stores to bond with your child and meet other parents. Instead, why not go online, or even to the local playground, and make polite inquiries of other parents from your neighborhood to see if they would like to get together for scheduled group play dates?
7) They’re called family for a reason
Last, but certainly not least: need a few hours off, or perhaps an afternoon all to yourself? Don’t pay for a babysitter when you have relatives eager to help! Parents and grandparents, aunts or uncles, cousins or nephews – you name it, there should be a family member out there happy to pitch in during what everyone knows is both a rewarding and exhausting time.
We hope you’ve enjoyed this list of a few ways new parents can save substantial sums of money while caring for their newborns. With just a little effort and planning, you can provide your baby everything he or she needs, while keeping your hard earned dollars where they belong – in your pocketbook. And speaking of your hard-earned dollars, if you’re tired of waiting for money from your structured settlement or annuity payments to get paid out to you, or would like to learn more about how you can sell future payments for cash that comes to you now, instead of later, call J.G. Wentworth anytime at 877-227-4713.