What did you do to save money...

Angelcake

to stay at home with baby? 

sleepyocean

do you mean to put money in savings to stay home for a few weeks, or to save money in your budget so you can afford to be a SAHM?

If you're talking SAHM...

budget.  We're on the verge of me needing to work and being able to stay home.  DH and I have always agreed we don't want our children to be in daycare if we can make it some other way, we'd rather they be with us if possible.  Every month I pay the bills and budget budget budget.  How much we make vs how much goes out to bills to how much is left over for gas and groceries etc.

we started out with brand name formula because DS was a preemie and needed preemie formula, but when he was old enough we switched him to Kirkland brand we saved about $150 from that alone.

we use Luvs instead of Pampers or Huggies and they work just as well for less money

we canceled our cable for a while, we got a lower rate plan on our cell phones and our internet...

we try to get all our necessities on sale or with coupons...

that's all I've got, I may end up getting a job eventually because money has been soooo tight, but I'm going to keep trying to stay in budget and make it work.

 

Angelcake

Thank you!  I am thinking of my last day at work being the end of this month... and having a month off before baby comes to relax and get the house in order and baby room ready.  BUT.. I am a little nervous about the money part.  We can afford to do it.. but hate cutting it so close.  I think I will end up a month after baby is born doing preschool for one or two kids during the day so money isn't so tight.. besides that I Love teaching preschool.  I am going to be switching my phone plan here soon... should just do it right now.  And, am thinking of turning the cable off... I have the DTV thingy coupons but haven't gone to get them yet.   The only thing is that we have started doing most of our shopping at New Seasons because I would much prefer organic and once baby is here I would love to give him ONLY organic.  Trying to figure that one out.  Farmers Market will probably help a bit with that though. 

Have you thought about babysitting in your place during the day for extra money?  Then you could stay at home!   I am in the same boat with you guys about the daycare thing.  I have worked in preschool for almost 9 years and wouldn't want my child in one if I could help it.

sleepyocean

Have you signed up on all the baby product sites for coupons, we got coupons from Similac, Enfamil, Nestle Good Start, gerber, pampers, and huggies.  We only used Enfamil at the beginning and so I traded all the other formula coupons with other moms on here for Enfamil, I didn't buy a can of formula for the first few months without a $5 off coupon for each can, that's a huge savings and we needed it.  So if you haven't started yet, start stocking up on those coupons!  I have conisdered doing babysitting, I love kids I even took some ECE classes a couple years ago because I wanted to teach preschool.  I'm new to this area though and wouldn't even know how to go about it.  If I think of any other money saving tips I'll let you know... but a quick thought of advice... you might want to wait til your little one is closer to 3 months if you can, to start taking on other little ones because you will be sleep deprived and your little one may be closer to sleeping through the night by then, hence you being less tired.

Angelcake

Yah that sounds better.. waiting the 3 months. 

You could always put an ad on craigslist...  I can't remember if you said you lived in the waterhouse area or rock creek. If you live in the waterhouse area, you could put one of those ad things up near the restrooms in Fred Meyer.. also on craigslist.  Also, you could put something up at you community mail boxes!  There are several apartment complexes near you.. could do the same at those.  Not sure how many kiddo's you would want but that should help.  Also, if you register with the oregon criminal registry, that will be a great thing to tell the parent when you talk to them.  I am registered or what ever with the baby magazine and the coupons and all...

Angelcake

I just found this link...

sleepyocean

That's an awesome calculator!  I basically made my own version of that on excel, and every month I put our actual spending in it to compare and see where we might cut back or where I overestimated etc.

Angelcake

Tips and Strategies

• You're in good shape, yes, but you need to "road test" the budget. Live on it for a few months before you quit your job (or go back to work) to see how it feels. Even though you won't really be spending money on baby yet if this is your first child, set it aside (plop it right into a separate savings account), and get a sense of how one salary feels. It's great that the numbers look good for you, but just eyeballing things is a big mistake people make. Live it before you make your final decision. And know that it's a fluid process, so you WILL have to make adjustments.
• Know the pitfalls. One of the most common? Underestimating baby and child expenses. Think this might be you? Build a little cushion into your budget for gear, adorable clothes you'll have a hard time resisting, medical expenses, etc. And ask family and friends how much they spend, to help you plan.
• Set aside savings for emergencies. Do you have an emergency fund? If you do, this places you even more firmly in the "Yes, you can do it" camp. You need a stash of cash for unexpected home or car repairs or a medical emergency -- so that the unforeseen doesn't drive you into debt and force you back to work. Three to six months' worth of living expenses -- not salary -- is what you should aim to have available and on hand.
• Save more money by shopping around before you shop. Comparison shop! Use the Web to get a sense of pricing. Use virtual coupons -- currentcodes.com is a site that gives you access to tons of promotional codes you can plug in to get a discount. Everybody wants your business. Stores will often match or beat a price, so it never hurts to ask.
• Know your tax situation. Taxes can make a big difference in your overall financial picture. So don't underestimate the value of tax breaks -- for dependents, for childcare costs, your house (if you own it), etc. -- and how your tax bracket will affect things (if one person stays home, you may drop a bracket). Want to get a sense of where you stand? Here's a good calculator for estimating your taxes: https://www.dinkytown.net/java/Tax1040.html
• Make sure you can make do without benefits. Finally, keep in mind how the full-time employee benefits you're passing up (e.g., flexible spending accounts, a 401(k), and Social Security/FICA contributions) might affect your family in the long-term.