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Discussion Question

I just sat down to create our family budget for

I just sat down to create our family budget for after the baby is born and I'm really shocked at how everything adds up. Anyone else feel like having a child is insanely expensive? I've looked over our budget a few times and tried to cut it down to the basics but I think we might have to go into credit card debt to afford daycare....I'm feeling really frustrated and wondering if its worth continuing to work. Anyone else quit b/c of finances?

Fairygodboss member Anonymous

  • Fairygodboss member

    New mom, don't get discouraged there are ways to drastically reduce your costs associated with raising a child. First what are your priorities concerning work? Do you want to continue in your career right after your baby is born or do you want to be home for a few years? If you want to return to work shortly after, look into alternatives to traditional daycare including a local nanny or in home provider with references and background checks. Talk to your employer about any benefits or reimbursement they may have concerning child care. How do you intend to feed your baby? If you plan on breastfeeding or pumping and bottle feeding, you will save on formula and presumably doctor visits because it us usually healthier and more affordable for you and the baby. Use your friends and community as resources. Many communities have new mom groups or clubs. A baby grows so quickly and ruins so many clothes, savvy moms rarely buy everything brand new for a baby because you can find like new items from friends, local churches, and consignment shops for free or at significantly lower prices. A nice trick is to keep tags on the new items you do have until you use them. There will be items that you never use. Return them to the store for store credit or for a refund or exchange for needed items. Credit card debt is NOT the answer! It will only create stress for you and your family.When we decide to welcome a new baby into the family, everyone should make some sacrifices to make things easier. Cutting back on frozen foods if you use them, and making fresh meals is significantly cheaper, eating out less, reducing your expenditures on beauty treatments and products, and spending less on things that are not needs. Look at what you do spend and challenge yourself to go to a different store, spend less, and buy more. When your child grows to be healthy and happy, you will be glad you made the small changes and invested where it counts, with love, time, energy, and patience with your child and family. Coupons, discount stores, shopping lists, welcome to motherhood:) It's so worth it!

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