by: Lindsay Hutton

Monthly Income
A second, part-time job might not sound ideal, but consider how far a second paycheck could go in terms of saving. If that isn't possible, look for creative ways to supplement your income, such as selling items online or babysitting.
Additionally, look for small ways to save money around your home, like using compact fluorescent light bulbs, utilizing your local library for books and movies, and creating meals at home instead of eating out. The savings will really add up!

Healthcare
Questions about health insurance can be confusing and overwhelming. Use this list of questions to ask your insurance representative to help streamline the process and help you get the best care possible.

"Start Up" Items
Shop around in thrift stores for any furniture or big ticket items you might need. If you have a friend or family member pregnant with their next child, consider doing a clothing swap to freshen up your baby's wardrobe or to stock up on clothes for the opposite sex if you need them.
Do keep in mind, though, you may need to replace some of your gear. For example, the American Academy of Pediatrics (AAP) recommends avoiding older, used car seats to ensure maximum protection for your child. Most have an expiration date printed on them and if they don't, the rule of thumb is six years from the manufacture date. The AAP also recommends using cribs certified by the Juvenile Products Manufacturers Association.

Living Space
You'll likely have a bigger mortgage to pay more for a larger home. Refinancing your mortgage is a way to lower your payments, but just be aware of the costs involved before making this decision.
If you rent, consider how much you'll need at lease signing. Most landlords or management companies require first and last month's rent, as well as a security deposit and sometimes a realtor's fee.
Aside from moving costs, furnishing a larger home can be expensive, too. Instead of buying all new furniture, look for easy ways to redecorate on a dime, like these 10 cheap home makeover tips.

Vehicle Space

Daycare
Look for creative ways to cut down on daycare costs. Ask a relative to watch your child one day a week, look into nannysharing with a neighbor, or talk to your employer about flexible hours so you can overlap childcare with your spouse. All of these options can mean big monthly savings.
For some people, having more than one child in daycare is more expensive than a second income provides, so you may want to look into whether having one stay-at-home parent is a better financial decision. Use our calculator to see if you can afford it.

College
By the year 2030, one year of tuition could cost over $44,000 at a public school, with the total cost of a four-year degree totaling over $205,000. If you plan to add to your brood, consider setting up accounts now that will help you prepare for their future, such as a 529 savings plan.
Looking for more ways to shrink the college tab? Check out these 12 tips to help pay for college.

Fun Money
Do you need some ideas for cheap family fun? Check these out!