Tuesday, 9 June 2015

Financial planning for parents-to-be: spend wisely

How much is your new baby going to cost you?  The answer is ‘how long is a piece of string?’  But before you go waving your credit card around, I’ve pulled together some great ways of making your money go further. 

If money is no object you can blow a fortune on designer babygros and custom-made cots.  But for most of us, there is a budget.  The good news is that there are some great ways to get the equipment you need for your new bundle of joy without taking out a second mortgage.  Here are some of my favourites:

·         Accept pre-loved: Lots of new parents only want brand new things for their baby.  While your baby won’t know the difference, she will pick up on your stress if you are worrying about money.  So consider pre-loved items from friends and family.  Every penny you save is money you can put towards enjoying your fantastic new life as a family. 
·         Look for recycling groups in your area: There are lots of local recycling communities who pass on quality items so they can enjoy a new lease of life.  Freegle are one of the best-known
·         Look for second-hand sales of quality baby equipment and clothes: Babies grow out of their clothes and equipment really quickly, so you can pick up some really good quality items at second-hand sales.  Look up your local NCT group for details of sales in your area or have a look on parents’ websites such as NetMums.  You can also get some great bargains in online auctions such as e-bay
·         Bag a bargain: Your baby won’t mind if her Babygro is in this season’s must-have colours or not, so look out for bargains in the regular high-street sales and buy when the price is right.

Spending wisely will mean you can make your money go further, to enable you to have more fun with your baby and plan successfully for her financial future.


For expertfinancial planning advice, call Graham on 07740 192505 or email gkinns@coreifa.co.uk to book a no-obligation consultation at our expense 

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