First Person: Save Money With a New Baby

Yahoo Contributor Network

I can remember being a new mom and wondering how I was going to balance my finances with the new edition of this bundle of joy. I have learned a lot through the years as I've watched my children grow into the school ages and share that information with new parents today. Being a new parent can be scary enough, you shouldn't have to worry about how to make your financial ends meet, too.

One way you can watch your finances is to keep your eyes open for discounts. Misty Berk of Springfield Ohio, says " We used an app on the iPhone to keep track of what we needed for the baby. We watched for those items to be on sale or clearance. I bought diapers, wipes and baby care items ahead of time to stock up." Another way to get items on discount is by joining a Social Media group, such as ones available on Facebook. " I do use the online Facebook groups to buy and sell some items. For example I bought a very nice wooden changing table online for $20!"

Many government programs are available for families with infants. When my daughter was an infant, I used a program called WIC (Women Infants Children) in which helped with the necessity of formula. I however am not the only woman to have used the program, Berk states "I breastfeed so that puts out the cost of formula and WIC lets me rent a pump for free! "

WIC is only one of many government programs available for such things as help for medical attention, mortgage help and housing assistance. There are grants available for parents with small children available on the website for Federal Grants .

Last year I learned how to save money on grocery bill by using coupons. I not only clip coupons now, but take full advantage of loading discounts from local grocers website directly onto a discount card.

Another thing I do to save money is cut back on my utilities, including my cable bill. For the past few years we have cut out cable and have used the internet as our source of entertainment. Through Time Warner Cable, we pay $39.99 monthly for high speed internet and with Netflix for additional television show and movies, we pay $11.00 a month.

When it comes to budgeting for entertainment, Netflix has become a household name and is replacing cable and satellite services at a rapid pace. "We cut out home phone and cable as well since they were almost useless with cell phones and Netflix" said Katie Merrick of Pocatello, Idaho. Katie is a mommy of three boys from ages 6, 2 and 2 1/2 weeks and says "We keep a spread sheet with all of our expenses and budget for all income."

*Note: This was written by a Yahoo! contributor. Do you have a personal finance story that you'd like to share? Sign up with the Yahoo! Contributor Network to start publishing your own finance articles.


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