advise needed from my moms to be

Re: advise needed from my moms to be

• starrysmile18 member

  April 2015

  Take it little by little. If one week, you can only put $20 aside, then do it. You'll need diapers, formula (if that's what you're planning on doing) and clothes for the first months and that's about it. You can go to second hand stores for the clothes, and apply for assistance for diapers and formula. Make sure you see whats a priority and whats a luxury. Good luck!

                             

  
  
  

                            ~~~ EDD for Baby #2  6/28/15~~~~
  

  

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• HoosOnFirst member

  April 2015 edited April 2015

  I don't know, but we are in similar boat. Our car is dying and now we need to replace it. Terrible timing. We can't really afford it but I can't have baby in an unsafe car either!
  
  There's been a couple threads on money if you want to look around, but a few suggestions were to see if you could defer any monthly payments you have for a few months, like credit cards or loans.
  
  Personally I have a large student loan payment and they allowed me to defer pmt for 5 months. I am doing that do I can have cash for emergencies. I've also been working and reworking our household budget.
  
  My guess is that it's a little too late to really save a lot before baby arrives but anything we can save, we are trying! I'm über stressed but also realize I can't do too much at this point.

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• baby2mommytobe member

  April 2015

  Thank you for responding it made me feel much better

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• btm013 member

  April 2015

  I planned in advance to save for 6 weeks of unpaid maternity leave. We're doing what we can but can you ever really save enough or prepare for a baby? I'm an accountant so this is my busy season and I've been working an additional 30+ hours doing personal returns on the side so we are banking that cash. We should be fine but it's quite stressful being that we are still furnishing the nursery and doing house repairs in order to prepare for baby.
  

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• trytry38ever member

  April 2015

  A lot of articles say that if you stop going out as much you can save that way. I am not sure on your situation but if you go on dates or get fast food cut back to only twice a month. Prepare your own lunch I know how easy it is to go with coworkers friends or family and end up eating lunch out almost every week not realizing that 10 dollars a day for 5 days is 50 a week and 200 a month. Also heard to buy gift cards from where ever you shop and save those for diapers, firmula etc. Since some babies have allergies. Accept everything and anything that is given to you and if you have doubles you don't need return or resale them. Buy second hand close for baby since you will go through so many and cost only a dollar or two a piece rather then 7. Apply for all assistance available you never know what you will qualify for even if you don't believe you qualify don't hurt to try. Do not stress over money all the time this will cause you more cost since you can make yourself sick or depressed and most articles say that most families find ways to supply for baby pretty easily by just cutting back on extras.

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• virginiaunicorn11 member

  April 2015

  It sounds cheesy but the book I Will Teach You To Be Rich by Ramit Sethi quite literally changed my life. I highly recommend it, and you can get it from your library probably

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• klkonwi member

  April 2015

  @hoodoll82 I am with you on the student loan payment ! Ugh.

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• karaelaine1991 member

  April 2015

  trytry38ever said:

  A lot of articles say that if you stop going out as much you can save that way. I am not sure on your situation but if you go on dates or get fast food cut back to only twice a month. Prepare your own lunch I know how easy it is to go with coworkers friends or family and end up eating lunch out almost every week not realizing that 10 dollars a day for 5 days is 50 a week and 200 a month. Also heard to buy gift cards from where ever you shop and save those for diapers, firmula etc. Since some babies have allergies. Accept everything and anything that is given to you and if you have doubles you don't need return or resale them. Buy second hand close for baby since you will go through so many and cost only a dollar or two a piece rather then 7. Apply for all assistance available you never know what you will qualify for even if you don't believe you qualify don't hurt to try. Do not stress over money all the time this will cause you more cost since you can make yourself sick or depressed and most articles say that most families find ways to supply for baby pretty easily by just cutting back on extras.

  My husband and I have a very strict budget. We keep track of everything on an Excel spreadsheet and our bank account's online banking system allows us to set aside money in funds. So each payday, we set aside money for ALL of the bills that month, put at least 10% of his paycheck into savings, usually along with a little extra for the baby fund, and leave the rest in checking. We usually end up having about $300 to last us the two weeks between each paycheck, about half of which goes to groceries and a good portion to gas, since DH's commute is 30 miles each way, plus whatever the distance is to the place that he audits. We rarely ever go out, but we enjoy spending time relaxing together. We look for free things to do in our area and have lots of board game nights - that was how we survived our summer of unemployment right after our wedding. 

  
  

  All of this to say: it's going to be really, really hard to save up enough for baby, especially at this point in the game, but if you practice self control and adjust your budget as needed, you can make the ends meet. You're just going to have to be very, very strict with yourself. 

  
  

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