Children are a wonderful gift from God. As a parent, there is a deep joy you experience when you get to see your new born for the fist time and that happiness is still kept alive as you see your kids slowly grow older.
Truly, many people still long to have children but there is this huge elephant in the room we all ignore or simply overlook which is the financial weight that comes with it.
Sometimes we underestimate how much it costs to bring a baby into this world and that is why it’s always better to plan instead of randomly having kids while you’re struggling financially. This is because you will struggle even more with one extra mouth to feed, cloth, house and bring up.
To avoid parenting blues and financial pressure that has led many to suicide for the sad reason they could not pay fees for their children or put a roof over their heads, it’s a wise idea to have financial security before bringing the little bundle of joy into this unforgiving world.
Here is what you need to consider:
It is always a good idea to know what you need especially if this is your first baby. There is an assumption that you need to buy every single item out there but that is often not the case.
This step will help you to know what the most important items are so that you don’t end up spending on things that aren’t necessary.
This will also guide you on how much you will roughly need and where you might get the best discounts as you start shopping for baby items early.
You might be used to splurging on expensive dinners, salon appointments and other self-care activities that may have to come to an end or face major cuts.
Of course, there is nothing wrong with spending your hard-earned cash on yourself, but you need to be wiser if you’re planning for a child soon.
At this point, you will need to strictly spend on essentials like food and bills so that you have more money to put away and fund that objective of becoming a parent soon.
Forget the pressure of designer baby wear that you see parents on Instagram flexing which is all fake. You don’t even have to buy new items.
In fact, some of these new items are actually low quality as compared to some thrifted items. If you’re cash strapped, you may want to look into good quality second hand items so you can save up. And besides, keep in mind that babies outgrow items quickly so they will only be needed for a short time.
Only go for new items if it is really necessary. If you have friends or relatives who just had babies you can consider buying stuff from them at a throw away price.
While you’re saving up, think of getting some items that can serve you for a long time. For example, you can buy onesies that have mittens sewn into them or convertible furniture so you won’t have to buy so many items separately.
This is also a great way of keeping your home organized and decluttered since you will be reducing the number of items you are bringing into your home.
Thinking of some of the things that could go wrong like emergency hospital visits isn’t a comforting experience. But, it’s better to keep some emergency savings in case of anything because emergencies do happen when it comes to this stage of life.
Make sure you have sorted your insurance early enough because maternity covers in most policies mature after a year and check on some of the limitations before you book yourself into a private hospital that isn’t covered.
Another key thing is to budget for some out-of-pocket spending that may come your way because if we’re being realistic here, they are highly likely to pop up.
Source: The Standard Media Kenya