1. Reduce your mortgage payments
Most people will be on their lender’s Standard Variable Rate; remortgaging should decrease your monthly payment. If you opt for a fixed rate, this will help you budget as you’ll know exactly how much your payment will be over a fixed period.

See our mortgage guide for more details.

2. Claim all your benefits
Every parent is entitled to Child Benefit, so make sure you claim yours as soon as your baby is born. It’s worth £17.45 a week for your first child and £11.70 for other children. Also, check to see if you’re entitled to claim Child Tax Credit or Working Families Tax Credit. Nine out of ten families can claim these credits so don’t miss out.

3. Use real nappies
Let’s put the environmental debate of real v. disposable nappies to one side and let’s just focus on the costs. Disposables can cost parents over £920 over two and a half years, whereas cloth nappies can cost around £180, which is a saving of £740.

Source: www.wen.org.uk

4. Set up or join a babysitting circle
Setting up a babysitting circle was one of the best things my wife has done, saving us up to £30 on babysitting fees each evening out. Just get a few friends together and give everyone three tokens (you can use anything for these). When someone babysits for you, you give them a token instead of cash. When you babysit for someone in the group, you get a token back. If you run out of tokens, that means you need to babysit more. Simple, yet effective.

5. Invest for your child’s future
By claiming Child Benefit, you’ll be sent a voucher for £250 (£500 for low income families) to be invested for your child in their own Child Trust Fund. Anyone can contribute to the fund on their behalf, so it’s a good way for family and friends to buy a present for your child without cluttering up the house with yet another stuffed bear. There are many providers of Child Trust Funds out there, so have a look at a guide for information on where to invest.

6. Make your own purees
Babyfood in jars is expensive and is often not as healthy as home-made food. Buy a hand-blender (from £10) and start by pureeing soft fruit such as raspberries and bananas, before going on to blending whole meals. Cook your own meals as normal (without any salt added), reserve a portion for junior, blend and voila! A nutritious meal for a fraction of the price of a jar.

7. Buy second-hand
Your baby doesn’t care whether its clothes are brand-new or second-hand. Babies will often wear clothes just once or twice, so skip the designer shop and look on eBay or your local charity shop. Mother-and-baby groups often have ‘nearly new’ sales too. Also, when you’ve finished with your baby clothes and maternity wear, sell those on to make some money.

8. Kill Bill!
Or rather, kill the interest rate on your credit card bill. Don’t pay up to 22% on credit card balances, transfer them to a 0% credit card.

See our guide on how to find the best deals on the market.

9. Vouchers and money-off coupons
Many companies now have mother-and-baby clubs and will send you money-off vouchers if you join. Also other companies will often off money-off coupons to try to persuade you to try their products. Keep your eyes peeled for vouchers: you may feel that the values are low, but redeem two or three vouchers everytime you shop and you will notice the difference.

10. Claim Childcare Vouchers
If your employer offers Childcare Vouchers, be sure to use them. The first £55 of Childcare Vouchers per week come free of income tax and National Insurance contributions which will save you a tidy sum in tax.