How should expectant parents save?
Since expectant parents are on the receiving end of advice from friend, family and well-wishers for nine months and more, here is some more advice to add to the mix.
Since expectant parents are on the receiving end of advice from friend, family and well-wishers for nine months and more, here is some more advice to add to the mix. A new baby invariably means a huge immediate increase in expenses – medical expenses, food, baby furniture (like a cradle/cot, pram, high chair), clothes and toiletries including diapers. To make matters more problematic, your income remains the same, or in many cases decreases with extended maternity leave or with some parents dropping out of the workforce altogether. It is difficult, but at the same time necessary, to find ways to save money to welcome the new addition without damaging your finances in the long run. Here are some simple tips on how you can save money, at least in the short run:
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