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6 ways to save money as a new parent

Woman on the phone and doing bills with her baby sitting next to her

Whether you’re expecting a new baby or you’re the parent of an infant, you might be surprised by all of the new costs in your life. Who knew that such a tiny person could be so expensive? From endless baby gear to thousands of diapers to formula, it’s easy for new parents to quickly become overwhelmed by all of the new costs incurred by their infant. If you’re in this boat, don’t worry–with a few tricks up your sleeve, there are plenty of ways to save money as a new parent.

Ensuring all of your new baby products are covered under an extended warranty plan is not only a great way to save money, it can also give you the peace of mind all new parents crave. With your products protected in case of damage, you have one less thing to worry about. With that in mind, here are 6 tried and true ways to save money as a new parent:

1. Socks will suffice

While you may have visions of baby booties, baby designer shoes, or trendy sandals adorning those tiny feet, in reality, skipping out on baby shoes is a great way to save some serious cash.

Baby shoes are often expensive, and your baby will likely only fit into them for a very short time. While it is important for your baby’s tiny toes to be kept warm, snuggly baby socks and slippers are enough to keep them cozy, even in the winter.

2. Choose multi-functional items

If you’ve started looking into the baby gear market, you’ve probably noticed there’s a product for everything. Every scenario or possible need your baby could have already has an alternative. Although it’s tempting as a new parent to be over-prepared, in reality, there are lots of products you’ll probably never need. Instead, opt for items that can serve multiple purposes.

For example, there are strollers that can adapt to accommodate more than one child (if you’re planning to have another baby later), or cribs that can transition to a toddler bed. By thinking ahead, you’ll be able to save money as your baby grows.

3. Avoid payment plans

One of the best ways to afford some of those more expensive baby products is to start saving a small amount every month. By setting aside little amounts over time, you’ll have money saved for the quality items you really want, which will let you avoid payment plans that accrue interest and often have hidden fees attached.

With payment plans, you not only avoid saving money, but you also end up paying even more than the product is worth, which is completely preventable if you plan ahead.

4. Shop around

Don’t be afraid to do your research–sometimes the best deals aren’t from the big brands, but from smaller stores. When shopping for larger pieces, take the time to look at different websites, wait for sales, and hunt for coupons–the extra time you spend researching can really pay off.

5. Know when to save

When shopping for your baby, you might be tempted to buy the best quality of everything–your baby deserves the best, after all! However, when it really comes down to it, for many of the smaller items (especially the ones you’ll be buying a lot of) you’ll be just fine opting for a cheaper option.

For example, baby onesies come in both name-brand and generic options that are nearly indistinguishable. Your baby will likely go through countless dozens of them, and chances are they’ll quickly become stained with spit up, diaper leaks, or formula, making you regret paying up for the more expensive options.

6. Splurge on the big-ticket items

While the word “splurge” might seem a bit antithetical in this article, for many of the big-ticket items, such as strollers, bassinets, swings, and rockers, you’ll only want to buy them once. By investing in higher-quality products when making larger purchases, your money will go much further in the long run.

Additionally, while many of these expensive items likely come with manufacturer warranty plans, they typically don't provide coverage past one year, which can be bad news if you're looking to keep your purchase protected for the long-term. An extended warranty plan like MulberryCare is the only way to provide comprehensive coverage for all of your big-ticket baby items, ensuring they stay protected for as long as you need.

Final thoughts

Introducing a new baby to your family is certainly expensive, and it’s easy to become overwhelmed by all of the costs that come with it. Fortunately, with the simple tips in this article, and by installing the free Mulberry browser extension, it’s easy to save money on both day-to-day items and larger purchases.

When you shop with the Mulberry browser extension, you're able to compare product protection plans, term lengths, and prices in real time.

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Kim Miller

About the author

Kim Miller is the Head of Consumer Marketing at Mulberry. She is passionate about building products and brands that make consumers happy, save them money and make their lives easier. Have an innovative idea for Mulberry you'd like to share? Give her a shout! She'd love to chat about anything from fintech and UX to gardening and antiquing.

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