There’s nothing like the arrival of a little one. It’s easy to get caught up in the excitement. You want to be the best parent possible, and naturally you want your children to have everything they need.
Truthfully though, what do they really need? Is it that $1,000 crib or $1,500 stroller?
Here are some items you can think twice about before putting them on your must-buy list.
Forget the luxury stroller
“If you're dropping over $1,000 on a stroller, that's just plain crazy,” says Matt Matheson, a personal finance expert who writes on family money matters for methodtoyourmoney.com. "As a father, I know the importance of having a great stroller, but don't pay for the designer name. Pay for quality.”
Fancy-shmancy electronic rockers
“I like high-tech as much as the next guy. But these newfangled baby rocking cradles like mamaRoo are just over the top. Not only do they carry an insane price tag [upward of $250], but the number of settings, options and features they have make my car look sad.
"Opt for something cheaper and with fewer bells and whistles, something that maybe only swings side to side, (don't worry, your child won't grow up deprived). Aim for the $100 mark,” Matheson adds.
Other oh-so-cute, but pricey items
Keep your emotions at bay when shopping. Otherwise you’ll get suckered into buying overpriced shoes, extravagant clothes and sumptuous gear that may generate oohhs and aahhs, but aren't necessities. Your baby won’t know the difference, but your bank account will.
Says Matheson, “Institute a three-day waiting period on purchases over $50. Give yourself time to think a purchase through. If after three days you still want it, go for it.”