Financial Guidance Library

Helping others achieve financial success

Financial Guidance Library

Planning (financially) for a new baby.

Having a baby? Take a deep breath, your finances will be fine.

For many first-time parents, the thought of having a baby brings up concerns about money. But before images of an empty bank account fill your head, know that there are many affordable ways to approach parenthood. Here are three tips get you started:

Use online resources.
Buying baby books and videos may seem like a good investment with a new baby on the way, but they can also cost plenty of money. Save your money and take advantage of an even greater variety of free resources online. Bookmark YouTube, Google and Yahoo today.

Make your own baby food.
Yes, buying prepared baby food seems more convenient, but making your own can be simple. Not only will you save money, but you’ll know exactly what’s going into the baby food you make. Check online for baby food tips.

Buy second hand clothes.
Children outgrow clothes so quickly, that most of the
stuff in thrift shops and online auction sites is nearly new and stylish. You can buy more for less and give your child variety. If the clothes are in good condition when you’re done using them, sell them online and make a few bucks.