Ashley Park Financial Solutions: What to expect when you're expecting:Finding out you’re going to be a parent can hit you like a freight train. Suddenly there are a million concerns and one of them is how you’re going to pay for everything once your little one comes into this world. Ashley Park Financial Solutions reckon it's best for expectant parents to start saving as soon as possible.
Raising children can be an expensive business. Experts say that supporting a child until they’re 21 and ready to leave the nest will set you back a total of £201, 809 exactly. Estimates suggest that it costs £9,610 a year to feed, clothe and educate a child. It can be stressful to think about where you might get this extra cash, especially if this is an unexpected pregnancy, but where there's a will there's a way.
You can start saving while you're pregnant. That way by the time your child is born you’ll be able to provide them with everything they need right from the get go.
Budgeting is definitely the way forward here. Everybody needs to budget at some point and it’s a great way to make sure you can save up some extra for your new arrival. Simply look at the money you have going in and coming out and think about where you can make cuts. Do you need to drive everywhere? Could you save on the food budget? For more tips, click here.
It’s also worth checking out charity shops. The reality is that you don’t need to go out and buy designer threads for your baby - they really won't notice the difference! Charity shops check all their products so only the ones in decent condition make the shop floor and you can find some top quality bargains.
You could also ask family and friends who already have children. Babies grow so quickly what fits them one month probably won't the next, so you're constantly updating their wardrobes. People you know will have gone through the same thing, which means they might be willing to give you their old stuff. It’s quite common actually, especially among family members and it saves a lot of money.
Think about making your own baby food. It’s surprisingly easy to do, just cook vegetables then toss them in a blender with a little liquid. You can cook a big batch and freeze it so you've got ready meals for weeks ahead of time. A lot cheaper than baby food!