5 tips for first-time parents

5 tips for first-time parents

It’s never too early to start building for their future. RESPs are a great idea as the rising cost of education can be daunting later in life. You don’t necessarily have to contribute a large lump sum from the get go. As little as $30 a week can go a long way.

TIP: Pool monetary baby gifts into starting RESPs.

Investing is not the only financing to consider. Budgeting properly will alleviate financial stress. Many stress about losing a full income. With a budget plan in tow, spending on family needs and starting a savings plan are both possible.

TIP: Talk to an advisor OR chart your income vs. expenses to see the true picture.

  1. Use Social Media for Entertainment

Social media is an avid marketing tool to showcase the latest products, and experiences. Many influencers are paid by companies or provided compensation to post products, and portray a certain lifestyle. This is not always reality. Everything you see on your feed is not a call to action.

TIP: Be aware that some feeds are carefully planned and curated. Use it sparingly for entertainment.

  1. Know Your Must-Haves vs. Nice-To-Haves

While you surely want the best stuff for your baby, start first to identify needs vs. wants. This can decrease the overwhelm of assuming you have so much to get.

Here are some items that are must-haves before baby arrives:

  • Big ticket items: car seat, crib, bassinet (or convertible play pen), carrier, stroller
  • Clothing-related items: onesies and sleepers (this will be the most worn items, despite other cute things you purchase), baby hats, blankets, face towels
  • Toiletries: baby lotion, diapers, wipes, optional ointments,
  • Feeding support: formula or breastfeeding pillow, pump, bottles with properly sized nipples, bottle brushes

Your “nice to haves” may include a high-tech monitor, bottle warmer, wipes warmers, or a trendy gadget.

TIP: Include anything and everything on a registry.

Whatever is not purchased through gifts, you can plan to budget for and buy; focusing first on the must-haves.

  1. Shop For Groceries vs. Relying on Food Delivery

Get in the practice of making regular grocery lists, with some snacks and staples always on hand. Practice by decreasing reliance of food delivery apps.

With a baby in the house, you will need to ensure you have nourishment for yourselves when you are tired, the hunger pangs hit, and that you are still taking care of yourself health-wise.

TIP: Preparing meals, having key items on hand, will help manage your budget and energy.

  1. Think About Daycare Sooner Rather Than Later

In some families, both parents work outside the home. Childcare is something that should be decided and discussed as soon as possible.

Find a plan whether it’s a family member helping out, grandparent, aunt, or friend and lock that plan down. If it’s daycare you need, understand that many are waitlisted so registering in advance and securing a spot will give you peace of mind.

This is definitely not something to sleep on.

You Got This!

These small takeaways may help to prepare for parenthood. We hope it combats the overwhelm that sometimes creeps in for first-time parents.

Remember to enjoy the moments, as they pass fast.

The #1 thing for all parents to remember, however, is “you got this."