Having a new bundle of joy to care for is a wonderful experience, but the spending can be overwhelming, especially with inflation increasing prices in many sectors. There is so much to take into account, such as what baby products to purchase, what they should wear, the stroller and car seat to use, and so on. I understand how you feel because I have a baby to pamper of my own, and all I want is the best for my baby.
Even though there is a lot that goes into caring for a baby, nothing beats seeing my little one happy and comfortable. I even look online for the items my baby requires to ensure that I don’t miss anything. You’ll notice that numerous things must be prepared for a small bundle of joy. Some must-have baby products on my list include:
- Baby clothing (sleepers, onesies, pants, socks, and booties)
- Diapering (diapers, baby wipes, diaper rash cream, changing table or pad, and diaper bag)
- Baby gear (baby backpack, baby carrier, stroller, car seat, and play yard)
- Sleeping accessories (crib and crib mattress, bassinet, blankets, swaddles, baby monitor, and nightlight)
- Breastfeeding and/or bottle-feeding supplies (nursing and feeding pillow, burp cloths, bibs, nursing bras, nursing pads, nipple cream, breast pump, breast milk bags/bottles, nursing cover, bottles, formula, bottle brushes, and insulated bottle carrier)
- Bathing (baby bathtub, soap and shampoo, bath towels, washcloths, and bath toys)
- Solid feeding (baby chair, bowls, baby spoons, sippy cups, and waterproof bibs)
This list is actually much more exhaustive, and to be honest, with easy access to online shopping platforms, the desire to buy all kinds of baby products is growing. However, living in a time when inflation is causing financial hardship forces me to be very careful with how I spend while also ensuring that my baby’s needs are not neglected. How can I not when the monthly cost of raising a newborn to age two could cost up to RM2,250 per month!
Having a new child is challenging enough, but planning and managing spending on the child are even more daunting. I know it is difficult for many parents right now, so I would like to share how I keep my expenses under control.
Always Keep Track of All Related Expenses
I created a Google Sheet to track my expenses, which helps me stay within budget and avoid overspending. After shopping for my little one, I’ll enter the date, day, item purchased, and amount into a spreadsheet. This is also a good way for me to see how much I’ve spent and keep track of recurring expenses so I can figure out where I can save.
If you don’t want to make your own spreadsheet, there are several apps available that can help you track your daily or monthly expenses. Some bank apps even include cards and an online spending tracker, allowing you to see your total spending over a specified period, usually monthly. Examine some of the apps available online and decide which one is best for you.
Choose Affordable but Quality Items
Low prices do not always imply poor quality. Before purchasing anything, I set a budget for those specific products. For example, if I only have RM300 to spend on a stroller, I’ll look online for several strollers in that price range. Then, rather than simply purchasing one, I conduct extensive research on each one, comparing the reviews of other buyers and finding blogs on the use of the products. The same goes for other items such as baby bottles, baby carriers, and so on.
I will only purchase a product for my baby if I am satisfied with its quality. Yes, I wanted to find something affordable, but I also wanted something safe and long-lasting for my little one. Plus, there are now so many low-cost options for all types of baby gear. I choose to save where I can so that the extra money can be saved for an emergency.
Don’t Overbuy, Find Multi-Functional Products
This is my attempt to be a minimalist parent by not overspending. To avoid wasting money, I will buy baby items in reasonable quantities even when they are on sale. You know how quickly a baby can grow, so be very meticulous when shopping. For instance, I only buy a few pieces of clothing because my baby outgrows them quickly, and I have just one bag specifically to be used for my baby.
Multi-functional items are also excellent. They may be expensive, but they will last and save you money in the long run. Some multi-functional baby products that are useful and practical are a crib that can be converted into a bed once the child grows, a playpen that can also be used as a playhouse, a baby carrier that can be used at home and on the go, as well as a car seat or stroller that grows with your baby, to name a few.
Seek Out Incentives to Save
There are government incentives or state benefits available for eligible netizens, and they truly help to alleviate some of the financial burdens. You’ll need to keep up with the latest news to find out if there are any benefits available where you live.
The car seat subsidy, which began in March of this year, piqued my interest as I was looking for a car seat for my baby. You can also check if you’re eligible and apply directly on the MyCRS official website. If you purchase a car seat worth RM300 or less, you will receive a 50% subsidy. The maximum subsidy received is RM150 for car seats costing more than RM300.
Learn to Control Spending and Expectation
Another way to help me manage my spending is to resist the urge to buy anything extravagantly for my baby. It is a difficult but rewarding task when I am not left scratching my head in the middle of the month because I have spent all of my money. I also stop setting my expectations so high that I’m bound to want only branded items while ignoring the price tags.
Seriously, never, ever ignore the price tags when purchasing anything, whether for your baby or the family. If you, like me, are looking to save wherever and whenever you can, this step is crucial in controlling our daily expenditure.
Planning Before Spending Is Extremely Beneficial
Making a spending plan and budgeting are essential for dealing with inflation while caring for your little bundle of joy. This can help you keep track of your spending, control it, and save more money. Budgeting can also assist you in planning for emergencies, getting out of debt, and making better financial decisions. You’ve got this, mums!
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