The birth of your first child will most likely come with a mix of different feelings, joy being the front-runner. Then comes the actual work, from changing diapers and staying up late due to baby cries. It is good news that two-thirds of first-time fathers deliberately take time off work to be involved with baby care. However, managing finances successfully is also crucial to ensuring your family is comfortable enough to handle the family expansion. Your inability to splurge on techy gadgets as much as before will be the least of your worries, and it helps to start as early as possible. On that note, here are a few tips on how to save money as a new dad.
- Consider hand-me-downs
This may seem like an unwelcome idea because as a first-time dad, all you want is to get the freshest and most original stuff for your yet-to-be-born baby. But it’s worth knowing that baby items like clothes and toys are pretty expensive! Before you know it, you would have spent thousands of dollars on baby products without being able to account for the spent money.
So, this is what to do. Satisfy your inner desire to get some new things for your baby. However, support that with hand-me-downs from close friends and siblings who are done having kids. Indeed, there is the added responsibility of giving everything you receive a thorough cleaning. But that will save you the money you would have used to shop for additional baby items. For example, the baby pram, toys, blankets, and even the cot (or crib) you receive from trusted relatives, can go a long way to save you some dollars.
- Cut back on buying the latest tech gadgets
It is understandable to be a fan of all things tech, especially when it’s the hottest thing on the market. But that can take a back seat for now because there will be new releases to take a look at in the future. Therefore, if your current phone is malfunctioning, an experienced cell phone repair technician should be your immediate option. The repair will cost far less than buying a brand-new phone. If that doesn’t solve your problem, look out for phone repair shops where you can swap your relatively new phone with a current one.
- Eat at home, regularly
It may be impractical to continue fine dining regularly when there’s a baby on the way. Believe it or not, those tiny mouths can eat, and you’re better off saving up on much-needed cash in the coming months and years. Indeed, you can keep your spouse happy with spontaneous dates as she’s pregnant but keep the bills in mind. On a brighter note, your lady would understand and be delighted knowing that you’re taking stringent steps to care for the baby.
Eating at home requires knowing a few things about cooking. That’s if you want to help your wife with the kitchen bit. Even better, you will be glad to discover that the $500 meant for fine dining for two people can maintain your pantry supply for at least three months. If it helps, you should know that your huge savings will overshadow the irritation of doing the dishes.
It wouldn’t be bad if you learned how to make baby food. It will take some time to get the hang of things, but with regular practice, you can become a pro at making healthy puree foods when the baby is introduced to supplementary feeds. In essence, save money while you can because even with the excitement of your first baby, there are incredible monetary responsibilities.