Alright I have a new guest on the blog today Breanna Sykes is here with us from Bridge Financial Partners with a few tips to save money as a new mom or dad. Breanna has two small children at home. She enjoys helping clients create a budget so that they can save and grow the money they make.
How to Save Money as a New Parent.
Being a new parent is overwhelming and expensive. You are given advice, whether you asked for it or not, and you are suddenly thrown into this world of expensive baby items. If you’ve found your way to this post then I’m going to assume you are looking for advice on saving money. I have a few suggestions to help.
First, buy used or accept hand me downs. Children are messy and babies grow fast. There is no need to spend hundreds of dollars on clothes when they grow like crazy and stain everything in sight. This also works for baby items like swings, cribs, play mats, rockers and all sorts of expensive gadgets. Even better, borrow these items from a friend or family member first to see if your child even likes it. I once splurged on a very expensive “must have” swing that my child hated. Thankfully I was able to return it. I’ll link a few great consignment shops in the area at the bottom of this post.
Another great way to save money as a new parent is to find the freebies. Most hospitals send you home with supplies like diapers and blankets. There are also sites like pampers that will send you free supplies. Keep an eye out for coupons and sign up for samples. There are tons of ways to get free baby items. The Krazy Coupon Lady put together a list of places to get free items on her page (KrazyCouponLady).
What can you do with the money you saved? Starting a savings plan early gives you the opportunity to contribute what you can when you can. There are different options including your bank’s savings account or an educational savings plan like a 529 plan. Your choice depends on your specific situation so talk to a financial professional to learn more. Here is a link to some more information on 529 plans (Saving for College).
For Every Season Consignment Sale http://www.foreveryseason.net
Looks like they have a spring, fall and a winter sale.
Upscale WeeSale Seasonal Consignment Sale
Spring and Fall Sales in Rock Hill
Once Upon A Child Consignment Store in Rock Hill
Breanna Sykes, Advisory Representative
*Securities offered through H.D. Vest Investment ServicesSM, Member SIPC
Advisory services offered through H.D. Vest Advisory ServicesSM
Bridge Financial Partners, LLC is not a registered broker dealer or registered investment advisory firm.
Units of the 529 plan investment options are municipal securities and may be subject to market value fluctuation. Before investing in a state specific 529 plan, you should compare your own state’s qualified tuition program and any state tax or other advantages it may provide.