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Created: Tuesday, 12 July 2016 07:44 | Rate this article ( 0 Votes )  | Hits: 501 | Category: Blog Comment count: 0

Four Smart Ways to Track your Spending While Expecting a Baby.

While, it’s totally fab to “shop-till-you-drop” for the little unborn baby but it has its shortfalls. The paycheck might drain out and reality might strike a little too late that you were overspending. The result: starving for the first month or two after the baby is born. Doesn’t sound right, does it? So why not track on your spending? You can use the following four tips to make sure that everything you are buying will be put to good use.

 

1. Avoid buying unwanted baby stuff.

Most women, especially if it’s their first pregnancy, “usually” go on shopping sprees the first few months into maternity and buy so many clothes for the baby. The clothing sometimes become out-of-date once the child pops out as newer fashions come around or the child might outgrow them. Worse still, the baby shower gifts are mostly baby clothes, which might mean repeated stuff. So before buying clothes, it’s advisable to ask other mothers-to-be or those with babies what to stock up on. Diapers, baby bottles, coat beds and other items which are handy are some of the better options to consider.

 

2. Budget your current finances.

It’s not always necessary to get new maternity wear if you have been through the pregnancy phase before. Do consider recycling older maternity wear from the previous baby bump in order to save. If you however feel the need to spoil yourself and the coming baby with clothes and extra items, you might consider budgeting well your current finances. Sit down and write in a planner your monthly expenses and cash inflow. Figure out how much extra change you have and put this aside for clothes and accessories shopping. It’s as simple as that.

 

3. Boost your income.

It’s always good as a couple to back up your monthly income with an additional business. It doesn’t necessarily have to be a big business which requires serious capital, but rather something affordable. Consider opening a small “tuck-shop” at home or baking some cakes and scones to sell at work butonly if the environment permits it. To lessen the financial strain on your wife, you might even consider opening a small bottle and grocery shop at a busy point if the budget permits. This will help in boosting your income, especially after your wife goes on maternity leave.

 

4. Cut and eliminate some expenses.

Well, not everyone can access extra income at all times, so it’s rather wise to maximise on what you have. There are some expenses which you can live without during maternity budgeting. These include less entertainment expenses like going for movies or sports games and rather watching them from home. Even eating out can be another removed expense. You might consider cooking a tiresome process but if you help each other prepare meals, as a couple you can save the $5 or $6 a day out and channel it towards baby preparation.  

 

At Corporate 24 Medical Aid, we understand that every penny counts. With our budget Medi-Funeral Two Star Plan, you have access to municipal, mission and government hospitals to ensure your family is covered in more ways than one!

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