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Great Savings Advice while living in a Recession
Bringing a new life into this world is one of the greatest feelings ever. However, this feeling of excitement is often followed by concerns as to how financially difficult it will be to support your new addition. With today’s economic challenges, these concerns are even more pressing for many families that are going from a dual income to a single income. The following list provides many tips on ways to save on the baby basics so you can financially breathe a bit easier.
- Buy in Bulk for Diapers & Wipes – I’m not going to go as far as recommending switching to cloth diapers or making your own wipes, but I recommend purchasing these basic supplies in bulk to generate a lot of savings. Buying diapers and wipes at warehouse clubs such as BJs Wholesale or Costco in larger quantities will save you a bundle when compared to purchasing these basics at supermarkets or drugstores.
- Try to buy generic whenever possible – Trying generic brand diapers and wipes could also save you money. In most cases the generic versions of these supplies are made by the same manufacturers that also sell there own branded merchandise so the quality should be pretty consistent. Why pay more just for a brand name or a fancy package?
- Breastfeed if possible – Breastfeeding is free, so if you can gut it out, you’ll save a ton because formula is very, very expensive. If you can’t breastfeed, try powdered formula. It is cheaper than pre-mixed cans.
- Use as many coupons as possible – and look for double coupon opportunities at your local grocery store to maximize your savings. There are so many ways to obtain coupons online so time spent online will definitely be rewarding. The same goes for buying online. Never buy something online without at least trying to find a coupon code. If you can’t find anything in 30 minutes or less then go ahead and make the purchase.
- Sign up for as many Rewards programs as possible – Most supermarkets, drugstores, baby retailers have loyalty programs. Take advantage of them. If you don’t, you are throwing money out the window.
- Use a Credit Card that pays you back – If you prefer to pay with a credit card make sure you are using a card that has some payback. It could be cash back, hotel points, airlines miles, etc. Whatever it is make sure it would benefit you. Newborns are expensive, so if you are going to spend, get something out of it. Who knows, maybe in a year or two you will have enough points to take a nice family vacation.
- Don’t be afraid to buy used – with easy access to the internet, many people who no longer have needs for certain baby items such as baby clothes, bedding, toys, etc. are selling them online. There are great savings opportunities. The only thing that I would not recommend buying used is a car seat because you will never be certain if it was in a car accident. Even if it was in a little fender bender, it is very possible that a smart part could have been affected making the car seat look fine cosmetically, but in reality, it could be faulty.
- Share items with friends and family – If you have friends and family with children around the same age, it makes sense to share items such as clothing, toys, bedding, etc whenever possible. If you don’t have friends and family with children and you aren’t planning on having anymore, attempt to sell anything that is still in good condition.
- Get online – With websites such as eBay and Craigslist, you will certainly be able to find what you are looking for online. There are bargains waiting out there for you. Sometimes, you will even find people giving stuff away on Craigslist so check often. There are a ton of other sites online that you can visit as well in order to save. Sites like MomsBabyBargains.com offers information on top products, a searchable index to easily find products and idea, and reviews on new products.
- Don’t buy too much – It is so tempting to buy everything in the store but in reality you don’t need nearly as much as you think. If you are a new parent, check some blogs and search for must have products. There are a ton of people out there looking to share their experiences. And if you are an experienced parent hit the blogs as well and try and help out a few new parents. You’ll feel good that you helped out.