It is a well-known fact that having a baby is expensive, having two or more is even more so. From all of the supplies that you need, plus the additional food, any childcare costs and of course the fact that they grow out of clothes within days, it can be difficult to keep up with the costs. But how can you prepare when you’re expecting twins? While you may be able to apply for small loans if you’re facing a financial emergency, you should have a separate budget prepared in advance built up from your savings in order to ensure that you are fully prepared for the twins’ arrival. Here, we’re taking a closer look at how to save money when expecting twins.
Work Out A Budget
The first step to saving money when expecting twins is to have a proper budget in place. You will need to have a clear understanding of how much you are going to need to spend on a monthly basis, before you can determine where you can make savings. In the UK, check-ups for your twins are free on the NHS, but if you’re opting for private healthcare, then you will need to determine how much each check-up and injection will cost you. Further to this, you will need to work out how much you’ll be spending on supplies each month. Nappies alone can cost anywhere from £10-£30 a month depending on how often the child needs changing and the brand. Now you’ve worked out the cost per child, you can double this figure to work out how much your twins will cost you.
Don’t Buy Everything At Once
Now you’ve worked out how much the essentials will cost you, try to ensure that you keep some of the bigger purchases at bay until you absolutely have to buy them. For example, when your twins are first born, they will be able to sleep in cradles in your room for a few months. This means that they certainly won’t need a cot until they are big enough to sleep in one. Your twins also won’t require a high chair until they are able to eat solid food and sit up on their own, so you can wait at least 6 months until you purchase this item. Making sure that you don’t buy everything at once will allow you to properly budget for the bigger purchases, helping to guarantee that you are saving money.
Make Your Own Baby Food
This is one of the easiest and cheapest ways to ensure that your baby is obtaining the right nutrients while also getting a great meal. When your babies are able to eat more than just milk, simply make a little bit extra of what you are eating for dinner (as long as it is a proper meal and not takeaway of course) and put this into a food processor. You can freeze any leftovers to ensure that food doesn’t spoil and ensure that your babies are getting the right amount of fruit and veggies with every meal. The best part? It’s much cheaper than purchasing store bought food!
Having twins is an expensive, yet beautiful thing. Knowing how to budget effectively is key to ensuring a good quality of life for your new babies, and also guaranteeing that you are able to put a budget in place for any future emergencies that you may have to deal with.