Discussing the names should go hand in hand with schooling preference and of course, the part that almost all parents don’t consider, the after school costs. When Baby is small and too sick to go to school will there be someone to stand in – stay home with Baby – whilst Mom and Dad go to work? How much will the Nanny / Au-Pair cost? What about holiday care? Schools close but parents can’t take leave every school holiday - Especially not single parents. As Baby Boo grows older and your toddler starts taking part in extra mural activities you will need to include that in your budget. Many parents never consider this when they decide to have a baby, yet these expenses can be crippling once there.

It is never too early to start saving for your children. There are many ways to do this depending on your requirements and abilities. There are fixed term policies referred to in the industry as Education Policies or Endowments, that require a monthly premium for the full term, alternatively there are Unit Trust products which are more flexible and don’t have a fixed term.  The most important rule though is ‘what you put in is what you get out’. These products are not magic! Keep in mind that investing in any of these investment vehicles will still be likely to give you a better return than a savings account at a bank.

When we shop for Baby and then Toddler and later our young Angels, we need to work on practical needs rather than ‘wish list wants’. Do research on whether there is a second hand cot, baby seat, stroller etc for sale. All of these can be cleaned and considering the short span of time they are truly used for, why spend unnecessary money on a new one only to store it in a couple of months. Baby Boo will know no better and Mom and Dad can rather invest the money they saved on ensuring a better future for all of them. Another great way to save on costs is to cook baby’s food rather than buy from the store. It is easy to boil or steam, mash and then freeze. Rather make use of the pre-cooked meals for your little one as a last resort. You not only save money but also ensure there are fewer preservatives in their meals.

Try hard to always go to the store with a grocery list and buy enough so as not to have to make ‘emergency stops’ as this is when we pay more for the same product instead of shopping around.

Plan and keep planning. This is the most important secret to saving.