With their tiny toes and fingers and their smiles that can melt your heart, babies are priceless. Unfortunately, diapers and formula are not. They're two of the biggest recurring expenses during a child's first year.
The following tips can help you save money when buying diapers and formula—money that you otherwise could invest in your child's future:
Ways to save on diapers
Most babies go through eight to twelve diapers a day, so the expense can add up quickly. To take advantage of better prices, look for diaper coupons on manufacturer websites and in the circular in your Sunday newspaper, and buy diapers in bulk—for this, warehouse clubs are a good bet.
Denise and Alan Fields, authors of Baby Bargains, nevertheless offer a word of caution about buying diapers in bulk: "Be careful not to overbuy when your child is getting close to the next size up," they say. "You'll be amazed at how fast your baby grows! You don't want to be stuck with a case of size 2 when your child is now a size 3." For more ideas, visit their website: www.windsorpeak.com/babybargains/default.html
Ways to save on formula
During the first 6 months after birth, babies need only formula or breast milk. Even after starting your baby on solid foods, at around 6 months old, he or she will still need formula or breast milk until the first birthday.
As pediatricians and many parents agree, breast milk is best for babies. It's also the least expensive way to feed an infant. Consumer Reports estimates that the cost of formula for babies who are exclusively formula fed is about $1,500 for the first year, depending the kind of formula and the baby's nutritional requirements.
To save money on formula, Denise and Alan Fields suggest asking your pediatrician for free samples. "Doctors get lots of freebies from formula companies and are happy to share them with their patients," note the Fields.
They also suggest purchasing powdered formula rather concentrated or ready-to-eat formula since, they observe, "powdered formula costs about 13 cents per ounce, compared to 17 cents for concentrate and 21 cents for ready-to-eat formula."
Just as for diapers, say the Fields, sign up for coupons at formula manufacturers' websites, and buy formula from warehouse clubs and discounters for the best deals.
Articles are provided for the general interest of our readers. Gerber Life Insurance is not responsible for any content and recommends that you consult the appropriate professional with any questions or concerns you may have concerning any financial or health related issues.