Save money while bringing up baby
October 23, 2009 by Jennifer Chait
Filed under baby products
It’s been estimated that it can take $284,000 to raise a baby to adult hood. That’s a pretty flipping high number. I’m betting you can lower it with some planning. Here are some general tips…
Never tell anyone your baby’s gender-to-be.
Start an emergency fund asap, I mean the second you find out your expecting, if you haven’t already.
Borrow most of your baby items. Regardless of what you may hear, it’s safe to do so.
Talk with an expert about the big issues. A good tax accountant should be able to help you plan for college, get the most tax returns on that …read more
Secret way to save money on baby gear
April 30, 2009 by Jennifer Chait
Filed under Baby Savings
This is actually a great secret way to save not only money but time on baby gear – and we all know time is money.
It’s pretty simple. NEVER tell people the baby’s gender. Keep your baby’s gender under lock and key to save both time and money.
How it works:
Friends and family will buy you plenty of baby gear. This rocks because, well, you need baby gear. You’ll get clothes, toys, and all kinds of extra goodies. However, what I’ve noticed is that as soon as you tell people your baby’s gender, people loose their flipping minds when it comes to …read more
Don’t Buy Items Your Baby Won’t Need
March 21, 2009 by Jennifer Chait
Filed under Baby Savings
Babies can cost a lot – in theory. You read plenty of reports that say things like, “It costs X amount to raise a baby” but those numbers aren’t all that accurate in my opinion. If you cut out specific large baby costs you can save loads and raise a baby on the cheap.
Baby items you can ditch to save money:
The crib: Cribs, bassinets, and other sleeping items (sheets, mobiles, music boxes, etc) can all be eliminated by co-sleeping. My son co-slept and went straight from my bed to a futon on the floor (not some waste of cash …read more
Is Baby Life Insurance Necessary?
March 18, 2009 by Jennifer Chait
Filed under Baby Savings, Kid Stuff
In a word – NO.
In many more words, here’s the problem with baby life insurance…
According to Smart Money and Consumer Reports life insurance for a newborn makes little to no financial sense unless your little one happens to be the sole bread winner in the family. Obviously this is rare unless your tot is big time Hollywood, so skip that insurance.
In the Smart Money piece, an actuary with the consumer advocacy group Consumer Federation of America, notes that baby life insurance is not only unnecessary but that, “It’s never a good idea.“
Why you don’t need baby life insurance:
The main reason …read more
