In collaboration with Louise Wood
It’s nearly three months now since I became a Granny.
Baby Joey is doing well, and we visit him a lot, but it’s bringing back all kinds of memories for me in terms of just how relentless parenting a new baby can be, as well as just how expensive. Bee is lucky that she has the support of her partner, as mental and physical health issues during pregnancy meant she couldn’t work.
Being out of work with a new baby on the way was far from ideal, as babies don’t come cheap! According to the Cost of a Child report, created by the Child Poverty Action Group, the basic cost of raising a child over 18 years is around £75,147 for a couple and £101,883 for a single parent.
That’s a lot of cash isn’t it?
You might think that a lot of these expenses kick in once they start school – uniforms, school trips and after school clubs maybe – but the Money Advice Service has estimated that you may well spend £500 just in your baby’s first month. That’s not to mention the money you spend preparing for baby’s arrival – there are pushchairs on the market now that cost more than most of my cars ever have.
So what can you do to help save money as a new parent? How do you provide your baby with everything they need whilst still keeping your head above water financially?
Fortunately Sunny has put together a brilliant money saving guide for new parents, full of tips and tricks to help you save money when planning for the birth of your baby. It’s one of the best baby budgeting resources I’ve seen in a long time and includes loads of really tangible advice that expectant parents will find invaluable.
The baby budgeting guide starts with a week by week breakdown of your pregnancy, suggesting what you need to be buying at every stage and offering advice on how to save extra pounds. It includes a list of newborn baby essentials as well, most importantly, as a list of all those things you really don’t need, despite what all the baby magazines might tell you!
There’s great advice on buying a pram, a brilliant breakdown of cloth vs disposable nappies including a price comparison of different brands, as well as valuable advice on benefits available and tips from real parents. It’s really a brilliant resource – definitely worth checking out if you have a baby on the way, or even if you’re in the process of trying to conceive.
When it comes to money it never hurts to plan ahead!
Find out more about how to budget for a new baby.