When my husband and I first got married, we had an instant family of four with his two daughters that my babies "bonus"!
Then we added five other children in the first seven years of marriage. So I know a thing or two about saving when it comes to baby.
Most military families are very prolific regarding the introduction of future generals in the world. Coincidentally, many of these babies are arriving in the nine months following the military returns from deployment.
Thus, the term "bundling babies."
a recent USDA report estimates that costs more than $ 240,000 to raise, feed and clothe a child born in 2012-and this figure does not include education. Tweet this
You can find a "cost of raising a child" tool that will calculate these expenses based on the demographics and location.
But it should not cost much, if parents use simple saving strategies from the time they realize they wait.
First quarter
Go through the baby's room, take inventory and make an exhaustive list of what is needed.
Prioritize essential as a crib, car seat and stroller, and non-essential "wish list" items such as wall hangings or a set of baby quilt room. Define a "baby budget" for priority items, without going into debt.
Start of sales shop stores, garage sales and eBay to find the best values for the point. Make sure to compare prices online using MySimon; even Amazon is a good place to compare prices.
Remember that before you buy anything online, go to RetailMeNot app for finding coupon codes that can offer free shipping, discounts and even free gifts.
Other good sites for Baby offers are Zulily and babysteals. For an added bonus, go to Ebates to qualify for discounts on what you buy.
Most new parents are likely to be offered by grandparents, siblings and other relatives and friends. If the grandparents of the new baby have expressed the desire to give a greater gift, so make sure it has the priority list rather than the wish list.
Try to choose something that can be passed to future siblings, such as a high quality chair, seat durable car or a cradle that can be converted into a single bed.
But be sure to buy the bed conversion package when you buy the bed or it can be stopped.
Second quarter
Most baby shower hostess will ask for a list to be included with the invitations
The list should also include :. "Please ask your store for a gift receipt" to make easy returns duplicates.
you can save this list electronically in department stores that offer this service such as Target, Babies R Us, or Walmart.
If you are blessed to have more than one baby shower, you might ask each group for different size clothes from the age of three to six months.
sure to ask six to 12 months in clothing size of a group and 12 months or clothes larger of the other group.
Final Trimester
This is the quarter when new parents are more likely to spend.
This is a good time to add up what you've spent on baby items, assess your inventory, and determine where you are on their baby budget.
If priority items were covered, then it is time for some of the "wish list" items.
If you have more than one shower, another option at this point could be to have a "diaper shower" or "daddy shower" where everyone brings diapers and disposable wipes.
But a diaper shower should not be exclusively for new dad.
This is a great way to gift the couple with a minimum of time and effort, and financially helps parents for as long as six months after the baby's arrival.
!
After the baby arrives, it's easy to get caught up in the responsibilities of caring for a newborn and forget to exchange baby shower items, you can not use (clothing here is the baby that is too small or the wrong sex, or duplicate gifts).
Let friends or family make exchanges for you. This will save you time and money and gives them the opportunity to help in a practical way.
On return, a gift certificate can be given and you can save to buy exactly the size and style of clothing the child needs at a later date.
a savvy mom received two small boy clothes that were too small and they cost $ 65 each. She shopped sales on the back and bought 12 outfits with her credit!
(If you want we send you my own baby wipe recipe and then write us here and ask the "Baby Wipe recipe."
I saved about $ 500 a year by using this and with all those kids that I had, it really added up. Tell us that you read about it in the TaxACT blog and we'll send it to you free.)
tax benefit
do not forget to consider all the new tax benefits you will have for your growing family in TaxACT.
This goes beyond the child tax credit and tax benefits begin with your medical expenses out of pocket you if you itemize deductions and meet the threshold for off-pocket costs .
tax code allows you to claim these unreimbursed medical expenses that exceed 10% of your adjusted gross income.
There are also after-tax cost of health insurance, mom tracking appointments, checkups and baby, and many other deductions as well.
now is the time to set up a folder to keep all receipts for medical expenses and the costs of childcare so you can claim the credit load management children and.
In fact, if your employer offers a dependent care pre-tax benefit program (DCB), then you may want to try to take advantage of this program.
parents may be eligible to put up to $ 5,000 total per year in DCB their account, tax free.
money can then be used to pay for child care expenses during the year, reducing your taxable income.
One of the things I like TaxACT is you are asked all the right questions about your family to claim any deduction and credit you may qualify to receive.
regardless of the cost to raise this new baby, just remember #YouGotThis. Any new parent will tell you the first smile of the baby is well. . . invaluable. Tweet this
Photo credit: AP via photopin Photography cc
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