New Way to Save Money…Have a Child

//New Way to Save Money…Have a Child

New Way to Save Money…Have a Child

You do not have to search far on the internet to find tips on how to save money when you are expecting a baby, have a baby or raising a child, but over the past 2 months I have noticed something in both the joint checking account I have with The Wife and my single checking account.  They seem to be growing.  But I thought having a baby was supposed to be so expensive?  I knew I had to review my accounts in detail to determine what was happening, I should be running out of money not having more and more of it in our checking account which I try to keep at very modest levels.  Then it hit me…

I Spent A Lot of Money on Entertainment

For whatever reason, I am not a budget kind of guy.  Rather I knew from the beginning that if The Wife and I were going to work together financially we would need a cash flow diagram and a plan, and beyond a few tweaks in the numbers the plan has been on autopilot for years.

While I know it seems odd that someone, who obsesses over personal finance details has no interest in creating a strict or hard budget.  I think it has to do with my fear/annoyance/anger/disbelief with the words We Can’t Afford it (Fantastic review of a fight between The Wife and I).

Upon reviewing both checking accounts and making sure I haven’t forgotten a few bills it suddenly hit me!  We have more or less stopped going out for the past 2 months.

The Wife and I would eat out at least once a weekend and I (not so much The Wife anymore) am very alright with going to any local establishment and enjoying either a few single malts or a lot beers lol.  Since having the baby we have been kind of home bound, and that is ok with this guy!

I told this story to another recent Pops, and he told me that I am the exception to the rule….did any other parent notice this trend?  If so, it is Valentine’s day, get to baby making.

By | 2013-09-26T14:59:57+00:00 February 14th, 2011|Personal Situation|11 Comments

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Evan is the owner of My Journey to Millions which was started to track his journey from a broke debt ridden law school graduate to building a positive balance. Need more Evan? Follow him on Twitter, Contact him or get new posts directly to your email

11 Comments

  1. Mark February 14, 2011 at 6:10 pm - Reply

    That’s an expensive way to save money! It did work well for you though. I love the get to baby making at the end.

    • Evan February 15, 2011 at 12:40 am - Reply

      Yeah long term I don’t think it is a great way to save money, but thought it was a funny short term effect.

  2. Jenna February 14, 2011 at 7:48 pm - Reply

    But hasn’t the costs of baby food, diapers, toys, and other baby needs increased MORE THAN eating out and entertainment?

    • Evan February 15, 2011 at 12:46 am - Reply

      Nope. Baby food is The Wife right now. Diapers aren’t terrible but man does he poop a lot lol

      As far as toys and the like, we have very generous friends and family that helped out during the baby shower

  3. krantcents February 14, 2011 at 8:11 pm - Reply

    What you are experiencing is a temporary situation. Very soon you will see the increased costs of children, but it is worth it in the long run.

    • Evan February 15, 2011 at 12:48 am - Reply

      You are definitely right on the cost and whether it is worth it

  4. Squirrelers February 14, 2011 at 9:31 pm - Reply

    Another example of how having a baby can change the lives of parents. Who the heck has time for all the past pursuits when caring for an infant? Less time for play = less money spent on play. This includes travel – can’t exactly jet out of town for a weekend like the pre-kid days.

    I will add here that while some expenses will come down as you’ve seen, expect there to be plenty of additional expenses. Education, classes/activities, medical, clothes, etc. Kids actually cost money and don’t in any way save you money over the long run. HOWEVER….they’re awesome and totally worth it. More than anything.

    • Evan February 15, 2011 at 12:51 am - Reply

      Yeah I know you are right but it was a funny short term effect!

  5. IIW February 15, 2011 at 4:44 pm - Reply

    Where I live you get substantial tax credits for each child, so that helps a lot, too.

  6. Funny about Money February 19, 2011 at 7:24 am - Reply

    LOL! When they say “there’ll be some changes made,” they ain’t kiddin’!

    You can save money on baby food simply by using your blender or food processor to make your own. Take cooked food, puree it, and voila! Instant baby food for a LOT less than the bottled stuff costs. And you know what’s in it. That will delay the rising cost of parenthood at least for a few months (other commenters are right that the expenses start to flow in as the kid grows).

    The biggest cost we had was private schooling. If you live in a city with decent public schools, you’re in luck. Otherwise…start stashing those extra shekels now, ’cause you’re going to need them.

  7. My Personal Finance Journey March 6, 2011 at 9:06 pm - Reply

    Nice post! And hey, you always have entertainment with the baby right!

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