Budgeting for Two: Affording Twins
You may think that having twins automatically means doubling your budget, but if you think creatively, you can cut corners to pare down your expenses. You will most likely feel a pinch on your pocketbook for awhile, but using these money-saving tips can give you a bit more financial breathing room. And keep in mind that while you may not feel like you’re saving a lot with some of these individual tips, the small things do add up—and if you’re vigilant about cutting costs, you’ll come out ahead in the long run.
Save from Day One: Begin saving before you even leave the hospital. Take your hospital stay as a means of collecting as much free stuff as possible. Stockpile on everything they give you for free and request more. Items you can sometimes get from the hospital for free include samples of lotions, powder, diaper cream, diapers, and more.
Buy Secondhand: This tip may be your biggest money-saver. Consignment shops, yard sales, and thrift shops are all great places to check for fantastic deals on baby items. You can easily find cute, just-like-new baby clothes at super low prices and used cribs and other furniture that is typically expensive (just be sure to check for any recalls on used products before you buy).
You can also ask friends with older babies if you can borrow a crib, highchair, stroller, etc. This way, you can still just buy one of each item, rather than spend double the money. And of course if you already have children, using their hand-me-downs can save you loads of cash.
Discounts for Doubles: Some pediatricians give parents of multiples a deal on the price of doctor visits. “My pediatrician did help us out with a special two-for-one year of unlimited doctor visits as long as we committed to one year of her service,” says Esposito.
Additionally, some daycare or childcare providers offer discounts for parents of twins. After finding quality childcare for your babies, ask for a break on cost. (And don’t forget to ask your employer if your company offers reimbursement for childcare expenses.)
Deals on Diapers: Instead of using disposable diapers, which can cost several hundred dollars a week, consider cloth diapering. While the initial investment might seem pricey, you save big bucks later on. If it’s all of the washing you’re worried about, you can always hire a diaper service that washes them for you. The time you save might just be well worth the investment.
Buy in Bulk: Esposito also suggests buying items in bulk. This doesn’t necessarily mean buying huge tubs of mustard and ketchup, but you can buy large quantities of diapers, diaper covers, wet wipes, and even food items at wholesale clubs.
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