Preparing for a Baby
Don’t buy baby clothes too far in advance
Baby clothes can be so cute and so tempting to purchase while you’re pregnant. But newborns can experience sudden growth spurts and your baby won’t always be a perfect fit for those seasonal pieces.
Get a belly band
This awesome invention (a stretchy band you wear around your waist), will keep you in your pre-pregnancy pants much longer, saving money on maternity clothes.
Choose gender neutral shades and styles
Opt for yellows, greens, and prints and make your baby stuff easy to pass down.
Buy secondhand special occasion clothes
Visit your local secondhand baby store and pick up a princess dress or a tiny suit for a fraction of the retail cost. Chances are its previous owner only wore it once.
Buy just one or two bottles before your baby is born
Some babies have a bottle preference, so test a few out before you commit to buying in bulk. This works for other items too, including diapers and pacifiers. Buy the minimum to start with, then stock up once you know the baby’s preferences.
Start an RESP right away
Don’t delay saving for your child’s education. As soon as you’re able to, set up an RESP for your baby. You’ll have the peace of mind that your child’s post-secondary education will be assisted, and the ability to help your child achieve his or her dreams. There are also government grants you can take advantage of, like the Canada Education Savings Grant. Contribute $2500 a year to your child’s RESP, and the government will kick in 20%.
Make some of your own baby food
This can sound like a hassle, but it’s actually really easy to mash some steamed veggies or a ripe banana. Make one serving and save another and you’ve kept some money in your pocket.
Turn to your local library for classes and games
Children’s activities and classes can be expensive, but local libraries often have tons of free resources and programs.
Ask for advice
Hindsight is 20/20. Ask other parents which financial corners they wish they had cut. The best advice comes from other parents about how they handled things, and what they would have liked to do differently.
