Overspending on Baby

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Can you believe that the average family will spend around $10,000 on a child before the baby turns 2? According to a recent MSN study, that’s what most parents do. Do you really need to spend so much money to take proper care of your little one? Read on so you can avoid the common mistakes that parents make when they make purchases for baby.

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[edit] Over equipping

Despite the image that the parenting magazines and baby superstores are trying to project, a baby does not need every little gadget, toy, and coordinated bedding to grow up happy and healthy. In fact, they won’t even remember the baby years. Before you make a purchase, consider if your child really needs the item. In most cases, the answer is no. Read our article basic baby equipment to find out what you really need.

[edit] Not getting what you pay for

We have all been taught that “You get what you pay for”, and while that is true almost all of the time, it usually does not hold true when considering the purchase of baby things. For instance, in the US the baby formula industry is required to manufacture infant formula to a certain standard – it must adequately meet the nutritional needs of infants. Purchasing name brand formula does not get you a better product, it just costs more. The same holds true for other baby items like car seats and cribs. Products must meet safety standards, so buying the more expensive item is not keeping your baby any safer.

[edit] Over shopping

Most of us find that shopping for baby quite fun. That includes Grandma, Auntie, people from work, church friends, neighbors…and babies can end up with more than they really need. If you suspect that you will receive many baby gifts, wait until after everyone has seen the baby to buy any extras, and only buy the absolute minimum until then.

[edit] Not making it yourself

Many of the things that your baby needs can be made at home easily and cheaply. You can make your own baby food, which has the added advantage that you know exactly what is in the food. Other things like baby wipes, diaper rash cream, and baby powder can be made at home realizing substantial savings. And don’t stop there – consider making your baby’s bedding, or how about a wall mural? You can trace a projected image onto the wall using an overhead projector.

[edit] Spending like singles

To avoid financial disaster, new parents must alter their spending habits to take into account the added cost of raising a child. Analzye your spening habits before your chld is born and eliminate anything you can, and start saving. Read our article financial planning for baby for some tips on what you can do now to prepare.