Children bring drastic changes to your life and your finances. If you are looking to save money when you’re expecting, consider focusing on the essentials: a place to sleep, eat, and a way to get around safely. Below are a few ideas you may find useful.
- Consider purchasing gender neutral colors. Gender neutral clothing allows baby clothes to go farther. You may consider donating the clothes further down the line or saving it if you plan to have more children.
- Babies grow quickly, so consider purchasing baby clothes at consignment stores and size up. This will allow you to save money while giving your baby room to grow in their clothing.
- Research convertible gear. For example, there are cribs that turn into toddler beds and strollers that can be used for a large age range.
- Start a 529 plan. A dedicated 529 Savings Plan is one of the most tax-beneficial and efficient ways to build a college fund for your baby.
If you are looking for additional parenting tips or financial resources, your Component Employee Assistance Program (EAP) can help. Your EAP can also help locate childcare services and can assist you with any additional caregiving challenges. EAP is available 24 hours a day, 7 days a week to help you manage your childcare and financial concerns.
For more information or for help in contacting your EAP, you can reach your DHS Work-Life specialists at firstname.lastname@example.org.