Baby Budgeting

Splurging on children is one of parenthood's chief joys. Nonetheless, you can keep baby's costs in hand without affecting the child's welfare in any way. Finding a home with more elbowroom in a top school district is the first impulse of many new parents. But moving right away may not be the best strategy. An infant won't need a school or a lot of space for a few years. Similarly, you need not go overboard on a big car to accommodate the baby. You can also try some of these commonsense methods to help reduce the baby’s expenses:

Register your child. Even before the baby arrives, list what you will need at stores or their online baby-gift registries. Doing so will help steer relatives and friends away from what you don't want or already have and toward what you really need.

Don't go whole hog on baby furniture. Sandy Jones, author of Consumer Reports Guide to Baby Products, suggests you buy a sturdy new crib (around $200), but pass up the expensive matching chest, changing table, and armoire (which can run hundreds or thousands of dollars more). Unfinished open shelves ($100) and a three-drawer chest (around $200) will do the job. Consider furniture that can serve more than one purpose, for example, a high chair that converts to a toddler chair and table.

Join a warehouse club and buy in bulk. Colossal-store discounters such as BJ's, Costco, and Sam's Club sell diapers, formula, and baby wipes the way you'll use them: in vast quantities. You'll change up to 8,000 diapers per child, so per diaper savings can really add up. Warehouses also mark down kids' clothes by up to 60 percent, formula by 20 percent; some cut prices 50 percent on must-have equipment such as strollers.

Save a bundle on clothes. Resist baby-store recommendations to buy too much. Choose a beginner wardrobe of a dozen T-shirts and one-piece outfits. Buy baby clothing at least six months larger than the infant's age to give items longer life; you can roll up the sleeves and legs until they fit.

Scout out online freebies. There are a bunch of web sites that offer baby goods to parents. But be prepared for the onslaught of junk e-mail and contest come-ons you'll receive as a quid pro quo. Diaper manufacturers' and formula makers' web sites usually post free offers and coupons, and giveaways such as a baby photograph free of charge.

Consider doubling up for child care. If you have a friend or relative with a matching schedule and with whom you can share, you may save half of the $10,000 to $20,000 that full-time nannies charge per year.

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