Big Baby Bucks: The Ultimate Saving Money With Infants Quiz

Staff

4 Min Quiz

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About This Quiz

Saving money with a baby isn't as hard as you might think. From hand-me-down clothing to medical expenses, take this quiz to see just how much you know about saving money with your little one.

How much money does it cost to raise a child from birth to age 18 in the U.S.?

According to the U.S. Department of Agriculture, it costs a middle-income, 2-parent family around $250,000 to raise a child from birth to age 18.

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True or false: One of biggest financial burdens for families is the rising cost of food.

The dollar has weakened, and there's a stronger global demand for food. This adds up to rising prices at the grocery store, meaning families are having to pay a larger percentage of their incomes to keep food on the table.

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Which item should you NOT buy used?

They may be cheaper, but parents should stay away from used car seats. They're designed to be used only once. If the car seat has been through an accident, it may look OK, but it won't protect your child as well as a new one.

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What is the average cost to formula feed a baby for one year?

It costs anywhere from $1,400 to $1,700 to formula feed a baby for one year. This number is based only on the cost of the formula, not on the indirect costs such as spending money on gas to go to the store, buying bottles, etc.

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True or false: You can save money on baby-related products by using coupons.

Clipping coupons is a great way to save money on baby-related products. Coupons and advertised discounts are available on everything from cribs to clothing. You can also get coupons by joining join mailing lists on companies' Web sites.

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Which of the following is NOT a way you can save money on disposable diapers?

Buy diapers as your baby grows so you always have some on hand that you can actually use. Buying bulk is a great way to save money on some items, but the last thing you want to do is to spend money on diapers that your baby will outgrow before he can use them!

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True or false: The cost of raising a child from birth to age 18 increased by 40 percent between 2000 and 2011.

From groceries to gas, everything is more expensive these days. A year's worth of expenses for one child was around $9,860 in 2000. By 2011, the average cost had risen to $13,830 per year.

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According to the U.S. Census Bureau, how much has the average household income dropped since the year 2000?

Since the turn of the millennium, the average household income has dropped 7 percent.

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Coupon use hit a record high in what year?

The year 1992 is known as The Year of the Coupon. Almost 8 billion coupons were used that year, totaling around $5 billion in savings. In comparison, only 3.5 billion coupons were used in 2009.

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Why should you be careful when buying a used crib?

Used cribs are often a bargain, but you need to make sure the one you're looking at hasn't had any recalls for safety concerns. Also, many older cribs are not in line with current safety standards. The spacing between bars, for example, is often too wide on cribs manufactured more than a decade ago, and babies' limbs can become trapped and possibly even broken.

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True or false: Breast pumps are now tax-deductible.

In February 2011, the U.S. Internal Revenue Service said that breast pumps could be used as a tax-deductible medical expense. Nursing mothers can purchase them out of their employer-sponsored flexible spending account or write off the cost on their taxes if their medical costs are more than 7.5 percent of their taxable income.

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How much money can you save per ounce by making your own baby food rather than buying it?

On average, you can save around 25 cents per ounce of baby food by making your own. Over time, this number can really add up! Plus, the added perk of making your own baby food is that you know exactly what your baby is eating.

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True or false: You can save money by not buying baby clothes in advance.

Most newborns triple their weight and increase their length by 50 percent in the first year. Don't spend a ton of money on clothes before your baby arrives because she'll grow out of them quickly! Shop at consignment stores or borrow from friends. You'll end up saving a bundle.

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True or false: You can save money at the hospital by getting samples in the maternity ward.

Most hospitals do get a lot of samples from manufacturers. However, sometimes the nurses are too busy to dole them out. Don't be afraid to ask for samples; you might be surprised with the cool stuff you can get for free. You can rack up on lotions, diaper rash creams, coupons for baby portraits and more.

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What's the average cost of a babysitter per hour?

The average cost of a babysitter per hour is anywhere from $8 to $12. You can save lots of money on childcare costs by asking close friends and family to watch your kids as a favor. You can also take turns babysitting with friends for free!

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True or false: You can save money on medical costs by breastfeeding your baby.

Breastfed babies are generally healthier than formula-fed babes. In the journal Pediatrics, it's noted that if 4 out of 5 women could breastfeed their babies for the first 6 months of life, it would save $10.5 billion in insurance benefits.

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Which of the following is NOT a major advantage of breastfeeding?

Breastfeeding has many advantages. You save money on formula, and breast milk has natural nutrients and vitamins that are helpful in building babies' immune systems, which can help lower medical expenses. However, it's more difficult to measure just how much babies are eating when they're breastfed.

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What's a good way to save money on your hospital bill after having a baby?

Some hospitals will charge you for using the television! Skip the sitcoms and soap operas and use your time in the hospital to rest with your newest family member.

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Which of the following clothing items can your baby do without?

You can end up spending gobs of money on useless pairs of shoes for your little one. Babies actually learn to walk better when they're barefoot! To keep your baby's feet warm, just buy soft booties or put socks on those tiny feet!

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True or false: As you receive or buy baby clothing, you should wash all the items right away.

You have no idea how big or small your little one will be when he enters the world. Also, your baby could grow so fast that he won't even have the opportunity to wear half the clothes that you have for him. Save your receipts and exchange the unworn, unwashed clothing for pieces that your baby can actually wear.

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