Start Saving While Expecting A New Addition To The Family | Get Financial Freedom Tips | Transform Your Financial Future


Thursday, September 18, 2014

Start Saving While Expecting A New Addition To The Family

If your wife is expecting then there would not be better news to celebrate than this. The little bundle of joy will bring colors to your life. But, it is obvious that you are worried about the finances otherwise you would not be reading this. Well, the anxiety is obvious and you are not the only one feeling it. Every new father has to pass through this phase before unleashing the joy of fatherhood. Being a father is as much responsibility as being a mother is. Your life would change and so will the financial freedom. Once the kid is born, your wife would not be able to help you with the additional income (for some months at least). So it is always wise to start saving before planning a baby. If you have already done it, there is no need to panic, but if you have not then you need to pull up your socks before it is too late. Relax and take a deep breath because there are few tips which you can use to save for the new member’s and your family’s future.

Start Saving While Expecting A New Addition To The Family

Ask the gynaecologist for an affordable hospital reference

This is one thing that you can do if you have no savings. Some hospitals charge you extensively, emptying your bank accounts on delivery charges. It is always a good decision to check the charges at different hospitals much before the due date. Do ask for details about the different medical procedures that would cost you. Do not go too far, as you won’t have much time to travel at times of emergency.

Save for your leaves

A new addition in the family means addition to the financial expenses along with happiness. Moreover, welcoming the baby would also mean that you cannot work for few initial months. You and your wife can take maternity and paternity leaves separately to ensure that there is continuous income flow in the family. With this, both parents will get to spend quality time with the new member and also get to know the responsibility that comes with the tag of being parents.

Shop wisely for baby clothes and other needs:

Baby clothes are often tagged on the higher scale. But, you can shop wisely with online stores which offers wide collection of baby clothes that are affordable too. This online clothing and accessory store helps you reduce your shopping costs majorly. If you want to save more, shop during the sale wherein some of the best products are up for grabs at discounted rates. Buying second hand clothes is also a good option to save. Check among your group of married friends, who has welcomed a new member recently. If the matches, you can borrow clothes, shoes and socks. You can also pick the coupons which other baby store has on offer for you.

Follow some or all of these tips and be a smart parent and save wisely. Reduce your expenses and do not burden yourself. Enjoy parenthood and experience the joy of raising a kid which is special in itself.

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