Fox Family Edge: Raising a Baby on a Budget

Fox Family Edge: Raising a Baby on a Budget

(CNN) -- A recent government survey estimates the cost of raising a child from birth to age eighteen at nearly a quarter of a million dollars. But first-time parents can cut some of the costs of bringing up baby.
(CNN) -- Raising a child born in 2013 will cost parents just over $245,000according to a recent government tally, an increase of 2 percent over the previous year. Parenting and baby care website thebump.com recommends using the time before baby arrives, to craft a new budget.

"Figure out what extra money you have each month, what money you have once you cut back on a few things and really start to keep track. And put that money aside if you can, put it in a savings account, another account, and live off of your new budget for a few months before the baby arrives." Elena Mauer, thebump.com deputy editor said.

The bump advises three B's to keep costs down:
Buy in bulk from big box and warehouse stores
Borrow items from family and friends
Bargain hunt among secondhand outlets, better for items like clothing, less for items like strollers and cribs that could be outdated in terms of safety requirements.

Don't be shy about putting big-ticket items on a registry. "You might think that somebody isn't going to spend, you know, $500 on your baby shower, but a few friends might go in together. Your mother and your grandmother might go in together, and get one of those items for you," Mauer said.

Child care can make up the bulk of expenses. One trend the bump has noticed is splitting the cost of a nanny or babysitter among family and friends with children of a similar age.
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