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Everyday Money Management

Managing your money can sometimes feel like a full time job. When you’re trying to balance your personal finances with your busy life, it can be stressful. Consolidated Credit Counseling Services of Canada, Inc.offers tips and tricks to successful money management. Our articles and downloadable books provide easy-to-use strategies for spending and saving your money.

Money Savers For New Parents

Tips for Raising Baby Without Breaking the Bank!

Gear: Open any baby catalogue and you will find all kinds of gadgets promising to make your baby happier and smarter, or your life as a parent easier. While some may turn out to be useful, others probably won’t get used at all. You may find, for example, that your baby doesn’t like the $100 swing or the $75 baby sling you thought you had to have. If a friend recommends one of these items that worked for her child, ask if you can borrow hers for a few days before you buy. When you do buy new items, ask about return policies and save your receipts in case you need to return or exchange them.

One Mom’s Tip: I would say that about 50% of the non-essential things I bought for my daughter the first year were a waste of money: the baby sling that she hated and killed my back; the changing table we never used, the baby wipes warmer we didn’t use; the sun suit that was supposed to protect her from harmful UV rays (but she wore maybe once); and the list goes on. Keep it simple. Gerri Detweiler, mother of Sydney.

Child care: The cost of child care can easily top a year in university. If you are certain both parents will work after your child is born, start investigating child care options now. Ask for recommendations from everyone you know. Visit the centres during the day, consider commuting times and expenses and don’t be afraid to ask about discounts or scholarships. If your job schedule isn’t very flexible, make sure you also line up sick-child care. Your local hospital may be able to recommend a program of that type or ask other mothers what they do.

Some parents find that by the time they factor in the cost of child care, it is cheaper for one parent to stay home full-time. Others may want to start their own child care centre to bring in extra income. (Be careful about committing yourself to watching other children until you are in a good routine with your first child.) Another option may be to scale down to part-time work, or take an evening or weekend job if your spouse works during the day to minimize the amount of time you need to pay for child care.

Announcements: Consider sending baby announcements online. It will be fast, cheap and maybe even easier! Free online baby announcements are available at www.happygreetings.net or type “cheap baby announcements” into an Internet search engine.

Decorating: Fixing up the nursery is exciting. But, you don’t have to go overboard. Investing in a good, safe crib is important. Never buy a used crib unless you can check it out for safety recalls first. If it is cracked, chipped or damaged, don’t use it. You probably don’t need a lot of fancy bedding for the crib. In fact, it is recommended for safety that babies under the age of 12 months do not have pillows, quilts, comforters, sheepskins, pillow-like stuffed toys, or other pillow-like products in their cribs. A fitted sheet and perhaps bumper pads that can be snapped into place (take them down when your child is old enough to pull herself up) are all you will need.

Before buying a changing table, consider whether you will actually use one. Some parents end up using simple changing mats in other rooms rather than changing the baby in the bedroom on a table.

Before putting used furniture in a child’s room, test it for possible lead contamination using a kit from your local hardware store. Also, consider a theme for the room that can be easily adapted to grow up with your child so that you don’t have to completely redo it in a few short years.

Convertible cribs are also very popular. They start as a traditional crib and can be easily converted to a toddler bed and then to a full or queen size bed. They cost a little more than a traditional crib but will last years.

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