How to avoid overspending when a baby is on the way - NBC12 - WWBT - Richmond, VA News On Your Side

How to avoid overspending when a baby is on the way

(Source: file photo) (Source: file photo)
(WWBT) -

The first few months with a newborn can be a blur and expensive.

Here are some ways to get what you need without overspending.

A common mistake, when you've got a baby on the way, is buying a bigger house. You figure you need more room, especially if there are other children in your plans.

What you need to remember is that the baby will mean some hefty new expenses, like childcare.

Don't rush into a new, bigger mortgage.

You could easily drop thousands outfitting a nursery, and buying all of the other baby gear, but you don't really need to. 

If you have friends or family with older children, see if they have anything they could hand off, and look on sites such as Craigslist or in thrift stores before you buy new.

Social media can also cost you. If you let your friends' posts or pictures sway you into spending on new gadgets, spending a fortune on the stuff your baby will outgrow fast doesn't make much sense.

But saving for emergencies and for college down the road does.

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