Introducing a new little person to the world is one of life’s great adventures but there are practical considerations, like the £194,000* cost of raising a child from birth to the age of 21 (as estimated by Liverpool Victoria).

Looking at it like this, you might wonder how anyone copes, but the good news is, there are lots of ways to reduce the cost.

For a start, Liverpool Victoria’s figure includes education and childcare costs which will not affect everyone. It’s far more practical (and less daunting) to consider what costs you’re going to face in smaller chunks.

So you’ve decided to have a baby – congratulations! The good news about the baby stage is that most of the costs are obvious – there are fixed items you will need and can plan for.

The essentials

Your first step is to draw up a list of everything you’ll need. Don’t get carried away, especially before the baby has even arrived. For the best advice, talk to the pros – other parents on the money matters forum. Let’s start with the big items.

• Cot Buggy/pram
• Car seat
• High chair
• Baby clothes

Remember, you don’t have to buy things new.

Beg and borrow

The simplest way to cut costs is to acquire or borrow from family and friends. Most parents moving out of the baby stage are only too keen to offload equipment like cots and high chairs, which are usually robust enough to withstand the wear and tear of several children.

The Bounty Buy & Sell forum is buzzing with everything from maternity wear, to baby gear, toys and household items. Why not take a look?

The National Childbirth Trust (NCT) runs nearly-new sales around the country and these along with jumble sales, car boot sales and online auctions can be a valuable place to find second-hand equipment and clothes. Hand-me-downs may not be the latest or most fashionable items on the market, but they will certainly do the job. However, if you’re using a second-hand cot it’s advisable to buy a new mattress as a precaution to avoid infections.

Reduce family costs

Next, think about all the extras that will begin to bump up your grocery bill, like nappies, wipes and cotton wool.

Nappies are one of the biggest costs but buying in bulk and looking for promotions can help. Disposable nappies will cost around £10 a week. If you’re going for the green option and using reusables there will be an initial outlay of about £100.

When it comes to clothes, some people love dressing up their kids and will happily spend hundreds of pounds doing so. But it’s not essential and for the first three or four months several vests, babygrows and cardis are pretty much all that’s needed. And because baby clothes are worn for such a short time hand-me-downs can be as good as new.

A mum's view

Fran Littlewood, a mother of two girls became a big fan of online auction sites for her first daughter’s clothes. “I wanted to get clothes that were different to the high street and good quality but I’d never spend £50 on a dress. Online I could get more expensive items but for £5. Unfortunately I think it has got more expensive as everyone has got wise to it. I’m not sure it’s as good as it was.”

Finally, remember friends and family will want to buy presents for the baby. Don’t be afraid to ask people to club together to get one of the bigger items, and hold off buying toys for the baby until you see what you’ve been bought or lent by people.

Small babies need remarkably few things. They don’t come free, but if you budget, don’t get carried away and plan in stages, it is perfectly manageable without breaking the bank.

With Kidstart you can save for your child’s future without it costing you a penny! Find out here how you can turn every day shopping into savings for your children.

IMPORTANT NOTE: this feature is for guidance only and is not intended to be a substitute for professional financial advice.