So you’re expecting a child. That’s great news! However, this means it’s time to start preparing for the future. The whole process can get expensive fast. Setting aside cash for childbirth should be your foremost concern. Here are a few things you can do to save some money.
Compare hospital costs
To quote an article from The Guardian, “America is the most expensive nation in the world to give birth. When things go wrong – from pre-eclampsia to premature birth – costs can quickly spiral into the hundreds of thousands of dollars.” The same report goes on to say that on average, hospitals charge $32,093 for vaginal delivery and $51,125 for cesarean section.
Rates change depending on what state you live in. CNN Money has a detailed article that compares average costs per state. Alaska, according to the article, has the highest prices.
That’s why it’s important to find a high-standard hospital that offers reasonable costs. And while we’re at it, pass up on hospital add-ons like private rooms if you can.
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Shop secondhand goods
Babies grow out of their clothes quickly. But parents, being excited and all, tend to splurge especially if the baby is their first. Resist the urge and buy secondhand goods instead. Better yet, ask other moms if they have old clothing they could spare. That way, your money can go towards something more important.
Also, you can skip the shoes. Babies learn how to walk faster when they’re barefoot indoors. Choose soft booties instead which are about $1.99 depending on where you shop.
Find ways to lower debt
Most parents are stuck paying their debt. Be it car loans, mortgage, student debt, and others. But there are ways to reallocate money spent on bills towards your new baby. Paying for loans twice a month instead of once a month will bring down interest rates. Many young families have student loan debt that takes a toll on their monthly finances. If you’re lucky enough for some of these loans to be private, consider refinancing student loans to lower the monthly payment amount.
Coupons
Some companies offer coupons for pregnant moms. The Krazy Coupon Lady features at least 31 companies that offer coupons and freebies for expecting ladies. The company may require you to provide some information but getting free stuff, especially if you’re strapped for cash, may be worth your trouble.
Dine at home
Cutting back on food expenses is one way to save. If you’re used to eating out, it would be best if you could scale back or not dine out at all. You’ll be amazed at how much you can save. Besides, pregnant women need to eat healthy and cooking your own meals is one way of doing just that.
There’s an abundance of resources for healthy lunches for pregnant women. Take this one from TLC for instance. Go and explore all your food options. Days before giving birth, you can stockpile food and put them all in the freezer. It should take off the burden of food preparation when the baby comes home.
Ask pediatrician for samples
Your doctor will most likely have free samples they could offer. These range from costly baby formulas to vials of eczema cream. Every little bit helps if you’re saving up.
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