The good news is that there are ways to effectively budget and save that can greatly reduce these costs. You will find with smart shopping and good planning, you can still provide everything that your child needs while saving a great deal of money in the process. Here are some cost-saving tips that are sure to take some of the strain off of your bank account:

Dont feel that you need to buy everything at once. Your baby will not need to much more than an infant car seat, a safe place to sleep, diapers, and a few changes of clothing for the first few weeks.

Consider breastfeeding. You can save considerably if you dont have to buy formula and bottles.

Buy nappies on sale and in bulk, or better yet, buy a few dozen reusable cloth nappies that can be worn and washed over and over.

Dont be embarrassed to accept hand me downs from friends and family or shop in resale stores. You might be surprised to find that much of the clothing and toys have hardly been used at all.

Dont always assume that the more expensive items are better quality. Ask a trusted family member or friend who has small children what brands they like and use.

Shop the end-of-season sales for baby clothing and stock up on sizes that youll need for next season.

Water Balloons

This is a great activity for children, teenagers and even parents to do together. Buy a bag of water balloons and fill as many as you can. Place in plastic buckets or washing up bowls. Small children will need help. After everyone has an equal amount of wobbly, jiggly balloons, go into the garden and let the water fight begin! Hosepipes and water guns are not allowed. Wearing funny goggles, bathing caps, snorkels and NOT changing into bathing costumes makes it even more fun. The more spontaneous the better. Simple safety rules should be laid down first i.e., no running in the house, balloons must not be aimed at chest or head etc., Everyone will be laughing and having a great time, especially if grownups get involved. Afterwards, the children can go on a treasure hunt to see who can collect the most pieces of broken balloons in the garden - we don't want birds, dogs or cats to choke on any bits of rubber left in the garden.

If you have internet access log on to large coach company websites to find special deals: on one its possible to pre-book to any destination for ?1 each way per person. You have to be specific about times outward/return etc. This is a cheap way of introducing your children to different cities and having fun. Do your homework on your chosen destination and find out free venues and events. Pack a lunch and get discovering!!

Save up your vouchers from supermarket point systems and exchange them for days out tokens. This is a cheap way of affording expensive days out at theme parks as the vouchers are often worth more than their money equivalent.

Evaluate how much youll be spending for childcare if you are returning to work. You may just find that its less expensive to stay at home with your child.

Explore options to work from home to eliminate childcare costs.

Begin a higher education savings plan early on and contribute to it on a regular basis.