Planning for more kids? Plan to save!

save money tips Prospera Credit Union

For many parents, once they’ve experienced the joy that comes with one child, they want more! Whether you’re looking at your second pregnancy or your sixth, you know that you’ll have increased expenses ahead. By planning and building a budget, recycling what you already have and setting yourself up to save, you’ll be less stressed about finances and able to enjoy your pregnancy as much as you can.


Budget for baby

Think back to your last pregnancy (or pregnancies). Were there any expenses that surprised you? Now that you know more of what to expect as a parent, you have the benefit of experience when saving for the next kiddo.

  • Make a list of all the expenses you had last time around and research or make your best guess for the costs, then show the list to your partner or a fellow mom to see if they remember something you didn’t.
  • Look over the list and consider if there are things you would do differently with the benefit of experience—would you slow down with the stuffed animals, or maybe choose a different health care provider? Next, check off items on that list that you already have or can borrow.
  • If you need to buy new for safety reasons, like car seats or strollers, make your purchase with versatility in mind, such as a car seat that attaches to a stroller or a crib that converts to a toddler bed. With all this in mind, you can set a goal for how much you want to save up before your baby arrives.


Reduce, reuse, recycle

Who says babies need brand-new everything? Budget-savvy moms know that some items never go out of style.

  • In addition to knowing what you don’t need to buy new (or buy at all), assessing your current baby-goods inventory is a great opportunity to pad your new baby fund by selling items you didn’t use on eBay, Craigslist or Facebook buying groups.
  • Need a new crib? Consider checking out estate sales for basic items like furniture or asking relatives and friends about baby items they’re looking to unload.
  • Rummage sales, relatives and friends are a great clothing resource for both you and baby. Remember, neither of you will stay the same size for more than a few months!


Save the date, and your pennies

Regardless of whether your baby is planned or a surprise, start putting money aside as soon as you know that bundle of joy is on its way.

  • Saving doesn’t necessarily stop once your baby is in your arms, but breaking down your saving goal, working back from your due date, will help you stay excited about saving up as you’re counting down.
  • The basics of saving money still apply when it comes to babies: look at where you can save (coupons, buying in bulk), where you can cut (dining out, “just because” items) and where you can earn (selling handcrafted items, seasonal part-time work).
  • Don’t hesitate to ask other parents you know for their money-saving tips! Every parent’s experience is different, and that means we have a wealth of ideas and answers to pull from!


Prospera Credit Union


Prospera Credit Union has 5 Locations in Appleton, Darboy, Neenah, Menasha and Oshkosh, Wisconsin.

Appleton Branch and Corporate Offices
4830 N. Ballard Rd.
Appleton, Wisconsin

Darboy Location
N9660 County Rd. N
Appleton, Wisconsin

Menasha Location
849 Warsaw St.
Menasha, Wisconsin

Neenah Location
934 S. Green Bay Rd.
Neenah, Wisconsin

Oshkosh Location
90 Wisconsin St.
Oshkosh, Wisconsin

Prospera Credit Union


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