5 Ways to Save $8,500 in Baby's First Two Years

That whole “kids are expensive” argument is a young one, and based on spendthrift ideals. But, what if you just give kids what they really need and cut out all the superfluous crap? Then they're not expensive at all.

1. Breastfeeding saves at least $1,300 in your baby's first year of life (not including equipment). Dr. Grantly Dick-Read was a well-known physician who once said, “A newborn baby has only three demands. They are warmth in the arms of its mother, food from her breasts, and security in the knowledge of her presence. Breastfeeding satisfies all three.” For my purposes, breastfeeding my children also provided the peace of mind of knowing that I didn't have to worry about the cost of formula. I also didn't have to stumble around in the dark at night to make a bottle, so it appealed to my lazy side, too.
2. Cloth diapering saves nearly $1,500 in a child's first two years. Had I known more about cloth diapering before my boys were born, I totally would have crossed over to the cloth side. The cost savings are almost negated by using a diaper service for you big-city people who have that option, but it's still cheaper. Plus, a good set of cloth diapers will last through two kids, which saves even more.
3. Making your own baby food can save you almost $700 in the first 12 months your baby eats solids. This is where a steamer basket and a blender will carry their weight. Freeze finely pureed, steamed whole foods in ice cube trays, and each cube is an ounce of baby food that defrosts quickly and can be mixed with mama's milk to thin. Easy peas. Y.
4. Bedsharing  saved my life by allowing me better sleep, and it saved me about $700 on baby furniture and nursery “accessories.” There are lots of different opinions on how to bedshare or co-sleep safely, and some “experts” will tell you that it's dangerous, blah, blah, blah. For most people, it works. Some people should never consider it, especially if mom isn't breastfeeding. For those who don't sleep with baby in bed, consider a porta crib in your room. That'll still save you big money, and it doesn't have to be a fancy one. Plus, you can take it with you wherever you go and baby will feel right at home when it's naptime. Bonus!
5. Staying home the first year saves more than $5,000 in child care costs. And, if you cut out all the money-wasting expenses and pay down debt before baby comes, in most cases it CAN be done.

This is just the tip of the iceberg. Dressing your baby in pre-worn clothes (or none when you're at home), making homemade snacks and avoiding unnecessary purchases (like “activity mats”) can add up quickly to some huge savings. Join the converstion and share your own favorite money-saving tips for babies!