36ºF

Ways to make your new baby affordable

Babies are definitely cute, but they're also pretty expensive.

 

According to BabyCenter.com, raising a new baby in the first year costs more than $10,000 – for things like formula and diapers.

 

But here are some ways to help make being a new parent affordable.

 

Cut down on debt: As a new parent, you'll need to make room for unexpected costs. So pay down any balances and start saving. It's a good idea to have sic to nine months worth of living expenses put away.

 

Don't think you need to move for that extra bedroom right away: Babies can easily sleep in a bassinet for the first three to six months.

 

Review your health care: Sit down several months before you're due to make sure delivery and other pregnancy costs are covered. Also, find out if you get paid maternity leave.

 

Have a baby shower: Celebrating with friends and family are a good way to share the cost of some of those big ticket items you'll need.