Parenthood is a joyous occasion as a couple welcomes a new member into the family.
Joyous it is, it is also a stressful period wherein a couple adapts to their new roles as parents and face another set of financial obligations.
Parenthood – a joyous and expensive journey.
Despite the generous Baby Bonus given by our Government, it is still unavoidable that new parents have to fork out quite a fair bit of cash to pay for the baby’s necessities.
Here are 4 tips to save money for new parents, sharing from my experience.
Tip 1: Be Open To Pre-loved Items
In today’s market, parents are spoilt for choices and are bombarded with many advertisements promoting their products as essentials.
It is very tempting to succumb to such marketing tactics especially at baby fairs and believe that you require every single item.
However, one can easily search through the various Facebook groups for such pre-loved items and most of them are readily available at a fraction of the cost and in good condition.
Given that babies outgrow these items very quickly, it is more economical and practical to consider pre-loved items.
Better still, ask around friends and relatives who have older children if they have any unwanted items to share.
More often than not, they would be glad to pass them on to clear their clutter after their children outgrow them.
Tip 2: Try Before You Buy
Many merchants are more than willing to dish out free samples of diapers and milk powder to parents in an attempt to convert parents to buy their products.
From my experience, one can easily get samples of up to four different brand of diapers and milk powder after registering online.
Tip 3: Visit The Polyclinic For Vaccinations
It is essential for an infant to undergo vaccinations.
Parents have the choice of patronising the paediatrician in private practice and pay through the nose for a jab, or patronise the polyclinic for free for Singaporean babies.
Given that vaccination is a fairly routine procedure, it really does not make monetary sense to pay for the premium to get vaccinated at the paediatrician.
Furthermore, with the appointment system practised at the polyclinic, my experience was that the wait to see the nurses and doctor (if necessary) would usually not exceed twenty minutes.
With the Government constantly upgrading the standards of the polyclinic, there is no reason to avoid it.
Tip 4: Trade-in For Deals
Some items such as milk bottles are essential and one has to buy them brand-new for hygiene reasons.
Before becoming a father, I thought that a milk-bottle would cost two dollars at most but lo and behold, the average price would be around eight to ten dollars.
Given that these items are unavoidable, what my wife did to save money was to make use of the trade-in during baby fairs.
By recycling the milk-bottles which my baby outgrew at the baby fairs, I managed to save quite a fair bit compared to buying the new milk-bottles off the shelves.
Trade in your old, used milk bottles for discounts at baby fairs. Save some cash and the environment
Parenthood is something which is so joyous that money cannot buy.
That being said, it is also an expensive experience which can be reduced simply by exercising prudence, buying on what is required and making use of samples provided by merchants.
The money saved from these could be channelled to baby’s endowment fund which will come in handy for future use.