how do you manage it financially?

lnle

My husband and I are starting to talk about finances, and it's freaking us out. Please tell me how you manage to feed and clothe your babies and yourselves. Certain things you cut back on? Places to get discounts? Trying to win the lottery?

Mon&Jon

I don't have any suggestions, but I'm right there with you.  I'm 16.5 weeks pregnant with triplets.  My husband has an 11 year old from his first marriage, he pays a good amount for child support.  We're a little freaked out as well.  I have been buying diaper and wipes, and stocking up.  The one great thing is that I'll go back to work and have free daycare.  I'm a director at a daycare, I've been there 12 years, so I can bring them with me, and not pay.  That will be a huge help.  Where are you on the east coast?  We're in south NJ.  Best of luck to you.

Temp6313048411121614

Buy used and sell used.  95% of DS' clothes are used (Goodwill, some CL, and mostly from OUAC).  Check out your MOTC sales.  Don't buy a new swing, buy one for $50 and sell it for $50, same with highchairs, PNP's, jumperoos, etc.  I searched and searched for used cribs, but since the twins will be sharing a room, I really wanted them to match, I just didn't go nuts with price (the cribs I bought were $170 each).  There's so much that you DON'T need.  IF you opt to get crib bedding sets, don't bother buying the tummy time mats, just use the quilts from the crib.  We bought one for DS, but won't be buying a 2nd because we just don't need it.  Scour CL, ebay, and like I said MOTC.  I'd say most baby stuff loses about 50% value immediately, why not let someone else spend their money on new stuff that'll only be used for a few months, you can pick it up for a fraction.  GL.

ancjph

Dh just actully wrote a post about this early this week on our blog. There is also a list of free stuff for multiples I'm sure one of the moms has around here. Coupons are a big thing for us too. It saves us a huge amount of money. We also give up lot for ourselves, little to no eating out. Sorry my brain is a bit fried after today, but I'm at loss for other things right now.

pea-kay

it's not easy, but we manage. so far. heh. thankfully, we qualified for WIC which helps immensely. esp when they were little, and we got all their formula for free.

you just have to shop around. and cut back on things. i can't imagine how rich i was before i had to pay for daycare x3 and a new minivan! yeesh.

macchiatto

Ditto Aussie! The only things I wouldn't buy used are car seats, unless you know the owner and can trust it's never been in an accident (or dropped down stairs, other things that might compromise the safety of the seat). I do have the list of discounts and freebies for parents of multiples on my blog: https://rootbeertwins.blogspot.com/2009/07/discounts-and-freebies-for-multiples.html

Also, get Graco cribs. Baby Bargains gives them an "A." They are really good quality cribs for a low budget. Walmart even has one of their models for just $120, and the others are in the mid to high 100 range.

ethansbride2b

Just wanted to let you know that your not alone in worrying!  We'll have a new van payment and since my DH is self employed, we pay our health insurance out of pocket so that will be going up a large chunk once the babies are here.  On top of diapers and all the other expenses it stresses us out. 

ncsubride

*Craig's List
*We switched from cable to satellite television
*We got rid of our regular phone and just use our cell phones
*I plan our food menu for the week very carefully looking at what is on sale for the week and cook what is on sale.  I use LOTS of coupons both from the newspaper and online coupons.  I follow lots of $ saving blogs. 
*We rarely eat out and dh takes his lunch to work.

mmbench

• Coupons, meal planning, and a big freezer
• Working - I thought all my pay check would be gone with the cost of day care, but we found a place with a good multiples discount, and you do get a tax break.  We get to keep more money than I thought we would.
• Used clothing/used baby stuff

finallyreilly

Hi there

 Definitely join a multiple parents group in your area.  We have found so many great items for cheap through them.  We also have found some great items on Craigslist.  We were also really surprised by the generosity of our friends who have been dropping off tons of baby items that they are letting us borrow or have.  My parents commented this weekend that these 2 babies have more stuff than they had for all 5 of us.

The daycare/nanny part has been the scary part financially for us.  We still don't have it resolved but we are working on it.  It will mean a big lifestyle change for us.

bearfootz

Well we just started, so no great financial success stories here yet.  I agree with pp's that buying used saves a ton of money.  My SIL couldn't understand why I was buying so much at rummage sales since she figured I'd just be given  everything new at the shower...well just because you're having twice as many babies, does not mean you'll receive twice as many gifts. Plus any big ticket items that didn't need to be on the registry meant that people might be more inclined to buy diapers.  I've also been to showers where the invite suggested you bring diapers/wipes based on how many twins go through...the couple received a ton.  Tacky, yes, but saved on the diaper fund.  Also, I found myself more likely to return clothes since I had gotten so many at rummage sales and figured it's not worth the $ for how long they'll wear them. 

Now that they are here I am a little more nervous about money, especially with the prospect of daycare if I return to work.  The one thing is that our entertainment fund is at $0 right now, since we don't even have the time.  I also find myself saving on gas money (after they got home from NICU) since we really don't go anywhere.  Coupon clipping is helpful too, especially if you go on double coupon day.  Also, we're looking into joining Sam's club to save on some items and also to stock up since I won't want to make shopping trips so often.

Another thing I've found is that I sign up for emails from the stores I shop at most, they'll give discount codes or free shipping codes, or let me know of big sales.  I've started doing a lot of my shopping online if I have free shipping codes, like at Amazon.com, because it saves time and money as I can compare prices and don't have to drive to town. 

Good luck, I'm enjoying reading other's tips.

TDM

almost 15 weeks here.

DH switched our auto insurance and cut out any part of it we don't need; that cut it almost in half.

We're also downgrading our cell phone plans to the bare minimum we need (and we don't have a landline).  

Cutting down on the more expensive items at the grocery store

Got all my maternity clothes from friends & relatives (hand-me-downs)

Stuff like that... 

In addition, I'll be returning to work - though family has agreed to watch the kids a couple days a week so we'll only have to pay part time daycare.

I also plan to breastfeed (even if it's just pumping) to eliminate or lower formula costs.

finallyreilly

TDM:

Got all my maternity clothes from friends & relatives (hand-me-downs)

I think I purchased 10 maternity items at the most this pregnancy.  That was a huge savings.  If you can find friends or family to share maternity clothes with that will be a great savings.  The clothes I received weren't necessarily my colors or styles, but I quickly got over that when I saw how much maternity clothes cost.

lnle

thanks for all the ideas, everyone! I think I'm also going to check out consignment stores for maternity clothes. My husband and I talked last night and decided our mantra would be "don't pay retail for anything" - buy it used, or take gifts/hand-me-downs.

Queet1

Well. since my twins aren't here yet, I may not be that helpful. But here is what we are doing so far: 1) BORROW! I've borrowed maternity clothes from my friends. Also, most of the people we know have already promised to lend us most of the essentials: swings, bouncy seats, walkers, etc. We bought the cribs from Target. The inlaws are getting the stroller and carseats. My folks are getting the changing table and bedding. So most of the big stuff is accounted for. 2) We are planning to breastfeed and use cloth diapers. Yes, we are crunchy, so we would do this anyway. But honestly I don't think that we could afford diapers and formula over the long haul. 3) We aren't using daycare. We are both profs, so we can work on alternate days, and my parents live close by if we need help. If this isn't true for you, do you have friends with young children in your area? My friends sort of rotate the babies at each others house during the week so that they can work from home efficiently (one's a graphic artist, a couple people are in marketing, one does pharmacutical trials). It's kind of like a baby coop. 4) We just eliminated cable. 5) We are getting used to eating at home ALL THE TIME.

 

I hope this helps! 

k&b51907

While the choices we made may not be for everyone, we actually sold our house.  My mother has a new home and her basement was unfinished.  My husband and brother finished the basement and it have given us about 1000 sq ft more than our home.  We pay the cable/phone for the entire home and $150 towards utilites.  We do not pay rent because we put about $20,000 in equity into their home.  Since I will be out of work for some time (bedrest started at 20 weeks) and we will have 3 babies instead of one, it was the best choice for us and our children. My mom does not work so she is helping me now and will be once the babies are here.  We cut coupons every week for groceries and this week we saved about $50. We buy in bulk and once the babies are older that will help out.  And we stock up on baby supplies now.  And I will breast feed to help out with the cost of formula.

kelliwill

Our twins aren't here yet but this has been fraeking us out as well.  Luckily we don't have to buy a new car, I already had an SUV.  We got the cribs at IKEA, Gulliver type $99 each.  We bought their crib matresses on sale at Walmart for $35 each: Kolcraft 800 coil.  I have also had friends and family with girls give us clothes, bumbo seat, etc.  For other stuff I have bought used: a changing table on craiglist, used my old dresser from when I was a kid, and DH's old bookcase from when he was a kid.  The only NEW thing in their room are the cribs and our leather rocker/recliner that we bought at a Labor day sale.  We are having three showers and my sister included a slip of paper inside each invite saying for each person that brings a pack of diapers will get entered into a drawing for some prize.  We'll see how it goes.  We have been trying to not eat out, but it's been hard since I am so tired and don't want to cook.  DH just got a new job and will be making $10,000 more a year, so that will help.  We are hoing to juggle childcare when I return to work with my mother, me at home one day, and possibly a nanny.  I scour craigslist and have bought a TON of stuff there: Bumbo seat with tray: $15, Baby Bjorn Active: $20, DSNG stroller, used Graco Duoglider, Receiving blankets, shopping cart cover, we also got an arms reach co-sleeper on e-bay.  I plan to breastfeed as long as I can to cut down on costs as well.  GL, I know it will be hard but I think there are ways to get by. 

cthedials

first apply for WIC it will save you a ton of money. My triplets go through a can of formula a day even though they are now eating baby food. When they outgrow clothes or there are things they can't use anymore sell it so you can buy something they do need at the time.  Check out sells papers for the grocery store, use coupons. Deferent things work for different people you will just learn what you have to have a what you can do without.  Oh and stock up on diapers, buy a pack everytime you go to the store in different sizes. I got enough diapers at my shower to last us the first 5 months, but now that we have to buy them I wished I would have stocked up from the very begining.