Hello, We’re fresh off the mill new parents! What are the best savings advice to help us create a nest egg for our baby? Here’s our situation and balance sheet: * Spouse’s company folded while on Maternity break. * They’re on pending H4 right now while recovering from the delivery * Savings: $200k (cash + stocks + 401k) * Debt: $0 * TC: 130k We do not know if we will stay in the US for v long if spouse can not get back on H1B. Aptiv held up GC processing in 2020 and mine is delayed until 2022 so can’t even get on H4 EAD. YOE: 5.5 YOE on H1B: 2.5 #personalfinance #investments #savings
Don't buy too many clothes for your bbay
Yes getting hand me downs from friends/family and buying new ones mostly from clearance sections with the occasional outfit that my wife really liked for our kid.
I only buy baby clothes when there is a sale. Sometimes buy in a bigger size for the future if sale is really good. If u want to really penny pinch then for grocery shopping this used to be my strategy: 1. Buy milk and meat in Costco 2. Buy veggies from Mexican store (if u are in California). They carry rejects from big stores (big stores want potatoes if certain size and look ). 3. Avoid eating in restaurants frequently 4. Rent unfortunately is an unavoidable expense.
Cook baby food. Don't buy formula
That comes at a later stage though right? The baby isn’t gonna eating any solid/puréed foods for a few months already