Your first day as a new mother is a beautiful thing, but let’s be real. You’re exhausted and completely terrified about what lies ahead. It’s scary knowing that you are responsible for the life of another human, not to mention it’s a tiny, frail human.
Either way, the baby’s here, and it’s time to be a mom. Being a mom takes a lot of intangible things, as well as many tangible things. Money becomes even more important when you’re caring for a baby, so budgeting is a great skill to master.
Always plan for the unplanned
If you thought life threw you curveballs before you were a mom, you haven’t seen the best of its talents. Having a child means that chaos will become a very familiar word in your life. The goal is to find controlled chaos.
In terms of budgeting, you always need a contingency plan. You want to afford your child the right to grow up without fear, and financial security is a large part of instilling security in your kid.
Plan for expenses to rise as they grow
As your child grows, so shall your budget. Saving for college, paying for a tummy tuck (to fix the damage being pregnant did to your body), and purchasing a new wardrobe every year will raise your living expenses along the way.
Allow room for your budget to grow with the family. That may mean that you have to get creative about income. Look into all you can do remotely, and start making money from home.
Try not to over-purchase baby stuff
When you become a mother for the first time, you may feel a bit like you’re fumbling around in the dark. You’ll have the urge to hoard baby supplies, but remember that they grow super fast. Diapers are always a great stock item but variate the sizes.
When you have a newborn, don’t even spend money purchasing clothes. You’re likely to get plenty from your baby shower or passed down from friends. Your baby will only stay in newborn sizes for a matter of weeks.
Use your smartphone to save money
Your smartphone can do a lot for your ability to work the budget. There are so many different savings apps to download that really work to help pinch your pennies. Walmart, for starters, has an extremely beneficial savings application.
Always breastfeed if you can
If you can get your baby to latch on to your breast immediately after being born, you should breastfeed. Breastfeeding your baby is far more healthy than formula, and it will give your child’s immune system a little heads up in the world.