How to Budget with Twins
Get it Down in Writing
The first step when trying to budget for twins is setting aside time to document current income and current bills. Hence, couples obtain an accurate picture of where their money is going. The list must include every regular monthly expense from gasoline to hair cuts. After the list is complete, take note of the amount of money left over. This number may dish a huge relief to some; and cause an anxiety attack for others. Nonetheless, couples generally have four to five months before the babies are born. Thus, they have ample time to make adjustments in their spending and income. For many, it may be as simple as entertaining less. Moreover, couples may use the next few months to eliminate or reduce debt. In more extreme cases, parents may have to seek out additional or better employment. Despite the circumstance – remain optimistic. Women across the country give birth to twin babies everyday and they find ways to manage expenses; and few of them have ideal circumstances.
Buy in Singles
Traditionally, couples expecting twins buy two of everything. This includes matching outfits, shoes, strollers, playpens, and so forth. However, couples can save a lot of money by purchasing singles of a few items. Naturally, certain items like car seats and cribs require two. Even so, the couple could select only one playpen, swing, bouncer, and high chair. For this reason, the babies could alternate locations. Instead of having two playpens to house the twins simultaneously, one baby could enjoy some alone time in the playpen, while the other baby plays in the bouncer. This results in both babies being satisfied, and the parents conserving loads of money. Additionally, parents could break the trend of matching twin outfits. As an alternative, purchase a single wardrobe and allow the babies to share clothing and shoes. Of course, the parents will likely receive plenty of clothing gifts at their shower, thus this may not become an issue. When purchasing necessary baby supplies and furniture, parents should browse thrift stores, consignment shops, and yard sales. Although many people turn their noses at this avenue of shopping, it is possible to locate some great deal at incredible prices. It is recommended that parents purchase brand new car seats for children. Nonetheless, secondhand toys, bouncers, and clothes supply the same purpose as new ones.
Shop Wholesale
Parents may also save money with twins with bypassing pricey grocery stores, and making a beeline to low price super centers such as Wal-Mart, or wholesale clubs. These shopping centers sell diapers, formulas, food, baby wipes, and so forth at unbelievably low prices. As well, parents may reduce their household food bill by shopping at these stores, which leaves more money in their pockets. Moreover, purchasing baby supplies in bulk will save money in the long run, and requires fewer trips to the store. FYI – Split wipes in two before using.
Formula vs. Breastfeeding
Formula is a huge expense for couples who only have one baby. Consequently, new parents with multiple infants should seriously consider breastfeeding. On average, infant formula ranges between $15 for a small canister, and $30 for a large canister. In the beginning, the only source of nourishment for infants is formula, thus they can go through a large canister in a week. This amount doubles for two babies. Parents will save money by breastfeeding; however, breastfeeding two babies may be difficult for the mother. Women tend to experience soreness or pain from breastfeeding. Instead of mothers latching the babies onto their breasts, it may be better if they pump their breast milk into bottles. Couples expecting twins should check with their local WIC (Women, Children’s, and Infants) agency to see whether they qualify for government assisted food programs.
Daycare Discounts
In recent years, the cost of weekly child care has soared. This is unfortunate for the many mothers who must return to work after giving birth to twins. When selecting a daycare or child care provider, parents should inquire of discounts offered for multiple children in care. For example, a local daycare charges $125 a week per child. However, parents with twins are only required to pay $200 per week for both children. This is a $50/week discount, which reduces their monthly daycare expense by $200. Unfortunately, not all daycares offer discounts. Nonetheless, parents should diligently search for quality, inexpensive child care; and should not make a selection until they have exhausted all efforts. In addition, parents should inquire as to whether their employer offers child care reimbursement. Some companies are willing to compensate for child care expenses, or pay a fraction of the weekly rate.
Twin Clubs
Parents of twins may also consider joining a local organization such as the Mothers of Multiples Club, and the Mother’s of Twins Club. The purpose of these organizations is to join families that have twins, triplets, quads, and so forth. Mothers and fathers are able to communicate with couples in a similar situation, and share helpful tips on how to budget, travel, and recreate with multiple babies. Furthermore, these organizations make available a networking and trading ground. Parents may inform other mother and fathers of child care centers that offer discounts, or the best place to buy baby supplies.
