Comments on: Readers Weigh In: Your Best Financial Advice for New Parents http://www.fiscalfizzle.com/2009/08/reader-question-parents/ Spicy Thoughts on Personal Finance Sat, 31 Jul 2010 12:23:48 -0700 hourly 1 http://wordpress.org/?v=3.0.1 By: Rick http://www.fiscalfizzle.com/2009/08/reader-question-parents/#comment-469 Rick Tue, 18 Aug 2009 16:18:45 +0000 http://www.fiscalfizzle.com/?p=1870#comment-469 A good idea that ended with a twist. From a financial standpoint, in 1982 when my wife and I had our daughter, I was in the Navy and was just able to make ends meet. I, like most parents, wanted to save for her education. Again, not having alot, I was able to kick in $30/mo on my power bill. The utility company offered customers the ability to purchase shares at no cost. Well, it's been 27 yrs and I've never had to touch this pot of gold because my daughter is a smarty pant and got scholarship money for college. That stock has split/resplit/divs reinvested and it continues to grow to this day. I'm still socking away money each month but now I call it a part of my future retirement savings or should it be called my grandkids scholarship fund? A good idea that ended with a twist.

From a financial standpoint, in 1982 when my wife and I had our daughter, I was in the Navy and was just able to make ends meet. I, like most parents, wanted to save for her education. Again, not having alot, I was able to kick in $30/mo on my power bill. The utility company offered customers the ability to purchase shares at no cost.

Well, it’s been 27 yrs and I’ve never had to touch this pot of gold because my daughter is a smarty pant and got scholarship money for college. That stock has split/resplit/divs reinvested and it continues to grow to this day. I’m still socking away money each month but now I call it a part of my future retirement savings or should it be called my grandkids scholarship fund?

]]> By: Weekly Links: 8/8/9 http://www.fiscalfizzle.com/2009/08/reader-question-parents/#comment-468 Weekly Links: 8/8/9 Sat, 08 Aug 2009 03:08:47 +0000 http://www.fiscalfizzle.com/?p=1870#comment-468 [...] Fizzle-Readers Weigh in: Your Best Advice for New Parents. Woj is gonna be a daddy! Go help him out by dishing out the best advice you have for a first time [...] [...] Fizzle-Readers Weigh in: Your Best Advice for New Parents. Woj is gonna be a daddy! Go help him out by dishing out the best advice you have for a first time [...]

]]> By: Wojciech Kulicki http://www.fiscalfizzle.com/2009/08/reader-question-parents/#comment-467 Wojciech Kulicki Thu, 06 Aug 2009 23:32:06 +0000 http://www.fiscalfizzle.com/?p=1870#comment-467 Awesome advice on the outfits - I had not considered that and it's something we'll definitely do. Bringing the baby home will be exciting and scary at the same time! :) Thankfully, my wife has a lot of experience taking care of newborns from family, and we'll have a lot of family and friends around, so hopefully it will be smooth. Should still be a fun/scary shock. Awesome advice on the outfits – I had not considered that and it’s something we’ll definitely do.

Bringing the baby home will be exciting and scary at the same time! :) Thankfully, my wife has a lot of experience taking care of newborns from family, and we’ll have a lot of family and friends around, so hopefully it will be smooth. Should still be a fun/scary shock.

]]> By: Wojciech Kulicki http://www.fiscalfizzle.com/2009/08/reader-question-parents/#comment-466 Wojciech Kulicki Thu, 06 Aug 2009 23:29:54 +0000 http://www.fiscalfizzle.com/?p=1870#comment-466 Thanks! Yes, I am expecting these large items to cost the most, so attacking them with the understanding of how long they last and what they cost is definitely on the menu! :) Thankfully, we have friends and family who are more than willing to "donate" items they no longer need, which is a blessing. Thanks! Yes, I am expecting these large items to cost the most, so attacking them with the understanding of how long they last and what they cost is definitely on the menu! :)

Thankfully, we have friends and family who are more than willing to “donate” items they no longer need, which is a blessing.

]]> By: Bucksomeboomer http://www.fiscalfizzle.com/2009/08/reader-question-parents/#comment-465 Bucksomeboomer Thu, 06 Aug 2009 13:42:39 +0000 http://www.fiscalfizzle.com/?p=1870#comment-465 Congratulations on your upcoming arrival! My advice is to buy pre-owned for most large items. Babies only get so much use out of the large amount of equipment (baby swings, changing tables, walkers, etc.) they need and you can find great deals on items at garage sales and craigslist. Congratulations on your upcoming arrival! My advice is to buy pre-owned for most large items. Babies only get so much use out of the large amount of equipment (baby swings, changing tables, walkers, etc.) they need and you can find great deals on items at garage sales and craigslist.

]]> By: K.S. Katz http://www.fiscalfizzle.com/2009/08/reader-question-parents/#comment-464 K.S. Katz Thu, 06 Aug 2009 12:37:15 +0000 http://www.fiscalfizzle.com/?p=1870#comment-464 1) Only register for what you need, and leave off the non-necessities; otherwise, your baby shower might be a bust. Make sure you tell all your family & friends to get a gift receipt. Sometimes stores won't take things back or give you a lesser value if you return the item without a receipt. 2) Wait to buy diapers until after the baby is born. Newborn size didn't cut it with both my boys. And don't take off the tags on all your newborn clothes until you're sure that your baby will fit in them. Wash 1 newborn and 1 3-month old outfit to bring the baby home from the hospital. Worst case, you've wasted 1 newborn outfit. 3) Make sure you have help the first night you get the baby home (especially for the first baby). I thought I had it all under control until I got the baby home and there wasn't a nurse around to help...it was serious culture shock! Good luck & I hope the advice helps! 1) Only register for what you need, and leave off the non-necessities; otherwise, your baby shower might be a bust. Make sure you tell all your family & friends to get a gift receipt. Sometimes stores won’t take things back or give you a lesser value if you return the item without a receipt.

2) Wait to buy diapers until after the baby is born. Newborn size didn’t cut it with both my boys. And don’t take off the tags on all your newborn clothes until you’re sure that your baby will fit in them. Wash 1 newborn and 1 3-month old outfit to bring the baby home from the hospital. Worst case, you’ve wasted 1 newborn outfit.

3) Make sure you have help the first night you get the baby home (especially for the first baby). I thought I had it all under control until I got the baby home and there wasn’t a nurse around to help…it was serious culture shock!

Good luck & I hope the advice helps!

]]> By: Wojciech Kulicki http://www.fiscalfizzle.com/2009/08/reader-question-parents/#comment-463 Wojciech Kulicki Thu, 06 Aug 2009 02:41:51 +0000 http://www.fiscalfizzle.com/?p=1870#comment-463 Awesome point on the car seat. We'll be sure to test things out before splurging for new products. Thanks! Awesome point on the car seat. We’ll be sure to test things out before splurging for new products. Thanks!

]]> By: Wojciech Kulicki http://www.fiscalfizzle.com/2009/08/reader-question-parents/#comment-462 Wojciech Kulicki Thu, 06 Aug 2009 02:40:29 +0000 http://www.fiscalfizzle.com/?p=1870#comment-462 Thanks for the tips! Hand-me-downs have begun to pour in, and we're certainly not complaining. I tell my wife #3 all the time. I just hope we can keep our heads straight when all those cute toys and clothes start flashing in front of our eyes. :) Thanks for the tips! Hand-me-downs have begun to pour in, and we’re certainly not complaining.

I tell my wife #3 all the time. I just hope we can keep our heads straight when all those cute toys and clothes start flashing in front of our eyes. :)

]]> By: Matt @ Financial Methods http://www.fiscalfizzle.com/2009/08/reader-question-parents/#comment-461 Matt @ Financial Methods Wed, 05 Aug 2009 22:01:37 +0000 http://www.fiscalfizzle.com/?p=1870#comment-461 Man, his number 3 is my number one. He's right though...buy a kid an awesome new toy, rest assured that it will love the box or the bubble wrap more than the toy itself. Also, a good comfortable car seat may just get the little tike to sleep faster than that silly swinging chair or the playpen. If this works on your little one, it is better to discover early...before you spend on items you don't need. Man, his number 3 is my number one. He’s right though…buy a kid an awesome new toy, rest assured that it will love the box or the bubble wrap more than the toy itself.

Also, a good comfortable car seat may just get the little tike to sleep faster than that silly swinging chair or the playpen. If this works on your little one, it is better to discover early…before you spend on items you don’t need.

]]> By: Jason Unger http://www.fiscalfizzle.com/2009/08/reader-question-parents/#comment-460 Jason Unger Wed, 05 Aug 2009 17:55:43 +0000 http://www.fiscalfizzle.com/?p=1870#comment-460 1) There will always be unexpected expenses. We had always planned to breastfeed, but that wasn't possible -- so now we shell out $$ for formula. 2) Take whatever hand me downs you can possibly get. If the clothes fit, the toys aren't broken and the bassinet is in one piece, it's worth getting it -- they'll only last so long for you, so don't pay for it if you don't have to. 3) Remember that buying expensive things for your baby is more for you than for the baby. The baby doesn't care about fancy clothes or diapers, as long as they do the job. And they will all get dirty, no matter what! 1) There will always be unexpected expenses. We had always planned to breastfeed, but that wasn’t possible — so now we shell out $$ for formula.

2) Take whatever hand me downs you can possibly get. If the clothes fit, the toys aren’t broken and the bassinet is in one piece, it’s worth getting it — they’ll only last so long for you, so don’t pay for it if you don’t have to.

3) Remember that buying expensive things for your baby is more for you than for the baby. The baby doesn’t care about fancy clothes or diapers, as long as they do the job. And they will all get dirty, no matter what!

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