Thursday, February 11, 2010

Raising Babies is Expensive!

The expense of having babies is something that I planned for.  But, when I chose to go from working full-time to working 2-4 days per month, I had to get creative.

Before I went part-time, we paid off our debt (except for the mortgage).  We also did our monthly budget and figured out how much I would have to work to supplement my husband's income.  This way, we knew how much I had to work and how much wiggle room we'd have.  It turned out that in order to pay the bills, I had to work 1-2 days/month.  In order to continue to save a small amount towards our retirement, add to our "emergency" fund, and get settled into our new house, I work 4 days/month.  I don't want to work more than this since I have to work opposite of my husband in order to not use daycare.  Any additional work days would mean no family time and that's something I'm not willing to sacrifice.

Once we maximized our earnings (while maintaining our goal of having a parent home to raise the kids), the only other way to get more money for savings is to stretch your dollar.  Anyone who knows me knows that I have always been a thrifty person.  Many of the things that I do to save money now are things I did before I had kids.  Here is a list of some of the things I do on a regular basis to keep the costs of raising a family to a minimum:
  1. I breast feed.  I can't think of any other thing that saves more money during the first year of a child's life.  I also can't understand why everyone who is able, doesn't do it.  I don't know off the top of my head how much formula costs, but I know it's freakin' expensive.  Plus, my baby gets the best nutrition possible, a strong immune system, and we get to bond in the most intimate way possible...skin to skin.
  2. I make my own baby food.  It's so easy and saves a ton of money on packaged baby food.  I buy fresh or frozen fruits and vegetables, steam or boil them, puree them, and freeze them in ice cube trays.  wholesomebabyfood.com is a great resource for this.  Not only are the foods cheaper than packaged baby food (even the generic), but there aren't any added preservatives or other ingredients that I may not want my baby to have.
  3. I shop for clothes, toys, and other items at thrift shops, yard sales, and online at sites such as Craigslist and WilmingtonYardSales.com.  Most recently, I've gotten a wool women's dress coat for $4 and a brown paper grocery bag FULL of 3T clothes at the local thrift shop for $10 (they have a special: fill a bag for $10 and 1/2 price coats on Wednesdays).  I also got a 34 piece lot of 3T clothes on Craigslist for $15 ($0.44 per piece).  All of the clothes are then handed down to the little one, so I get multiple uses from all the kids clothes.  If they're still in one piece after that, they will get handed down to our best friend's baby (due in August).
  4. I use generic diapers and wipes.  I know that I could save a TON of money by using cloth diapers, but I never could get my husband on board with that.  We use the Wal-mart brand and buy the value size boxes.  I can't see paying for name brand diapers (unless I have a coupon that makes them cheaper than the generic) as long as the generic works as well.
  5. I'm potty training my 2 1/2 year old boy right now, and I decided to bite the bullet and do a potty-training boot camp with underwear only. I'm still in the midst of this, so I'm not sure if it will continue, but I'm trying my best not to spend money on pull-ups.
  6. We try to go to free playdates with family friends and, of course, other moms in my mom's group.  These include storytime at the library (also a great place to borrow FREE books), park playdates, the beach playdates, backyard playdates, and walks around the neighborhood. 
  7. I do any shopping that can't be done at thrift shops, including my grocery shopping, at Wal-mart.  It's not always the most pleasant place to be, but you really can't beat the prices.
  8. We almost NEVER eat out at restaurants and rarely order in.
There are also a few things that I plan to add to my list:
  1. My friend and I are going to get fresh food from our local CSA this growing season.  The cost is $250 for a large box of fresh vegetables per week for 10 weeks.  We are going to split the box and the cost.  This will cost me $125 for season or $12.50/week for 1/2 a box.
  2. I'm planning to start my own garden.  It probably won't be this year, but we now have almost an acre of land and I'd love to have a small vegetable garden and grow (at minimum) some corn, peppers, onions, tomatoes, watermelon, and anything else that may grow in NC.
  3. Instead of going on any expensive vacations, we bought a used and very well maintained camper for $1,500 from my parents.  The blue book value was at least $3,000.  We plan to take many fun and inexpensive camping trips with our boys in the years to come.
  4. I am learning to sew.  I don't think I'll ever get to the point that I could make anything that anyone would ever want to wear, but I can hem and mend which extends the life of all of our clothing.
  5. I'd like to learn about couponing.  This is amassing a ton of coupons and using them to stockpile during store sales in conjunction with doubling/tripling of coupons.
We also have many things that we've decided we DON'T want to do without (for now) that could be cut out if necessary:
  1. We pay approximately $150/month on Cable with HD and DVR as well as cable internet and cable phone.  We're considering cutting out the home phone, but haven't taken the plunge yet.
  2. We pay about $195/month on our cell phone plan.  I KNOW!  That's embarrassing to even admit!  But, my DH wanted internet/3G and it's very helpful for him at work.  I got mine too, but really could have lived without internet on my phone, although it's pretty cool.
  3. I think we could adjust our thermostat (we keep it at 68 degrees in the winter and 75-76 degrees in the summer), switch to energy saving light bulbs, take shorter showers, and countless other things to save money on our electric bill.
  4. We could buy less pre-packaged foods and cook from scratch more using in-season fruits and vegetables.
Do you use any of these money saving ideas?  Do you have any that I missed that you'd be willing to share me?

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