The global revenue of the baby care products market in 2018 is estimated to generate about 11.4 billion US dollars – that’s about RM45 billion! There’s a reason why the market is so lucrative — parents who think they need to buy everything in sight at the baby store.
Here’s a list of 5 important things you will really need in those first few weeks as new parents. And in the unexpected event if you deliver your child early, it’s always good to get these in advance.
1. Newborn nappies
There’s no doubt your little one will be weeing and pooing frequently. As a new parent myself, I found it harder to buy newborn nappies in shops than I did other sizes.
2. Breastfeeding equipment
Whether you decide to directly latch or express breast milk, it’s always good to have the breastfeeding essentials. Invest in a good breast pump, buy milk storage bags/bottles, feeding bottles (consider anti-colic bottles for gassy babies), and a sterilizer for feeding accessories to prevent harmful bacteria from growing quickly in milk.
Also, new mums should not forget to claim income tax relief of up to RM1,000 (once in two years) on breastfeeding equipment like breast pump kit and ice pack, breast milk collection and storage equipment, and a cooler set or bag. These items must also be intended for your own use to breastfeed your own child aged 2 years and below. So all the more reason not to compromise on the quality of breastfeeding equipment. Just keep those receipts safe!
Read more: 6 Ways Women Can Save More on Taxes
3. Co-sleeping cot
Don’t buy any ordinary cot because the first few months your baby will definitely require extra attention and frequent feeding. Consider a co-sleeping cot that you can place next to your bed.
They look a lot like your regular cot but one side can be removed for easy access to your little one. These types of cots are specifically built to stay attached to the parents’ bed at all times and can be used until they are more independent to sleep in their own room.
4. Child savings account and insurance
All new parents need peace of mind when it comes to their newborn. Opening a savings account for them will ensure a substantial amount of money earmarked for their future needs like education costs.
Many banks in our country offer special high-interest savings account for children (some of them with a minimum deposit starting at only RM1). Maybank Yippie Savings Account, Hong Leong Bank 3- in-1 Junior Account, RHB Easy Junior Savings Account, Affin Bank Junior Savings Account, and Public Bank Wise Saving Account are some options.
You’ll also be well-advised if you go for a child-specific insurance plan so that you remain financially prepared to tackle any unforeseen expenses. Choose a policy that best suits your needs and budget. Some of the prominent options are A-Life SuperJunior by AIA, Junior Protector by Great Eastern Life, Child Guard by Allianz, Smart Kidz by HongLeong Bank, and PRUmy child plus by Prudential.
The moment you’ve reached that first trimester and it’s considered ‘safe’ to announce to the world your pregnancy, the abundance of congratulations and offers to help out will come in. Two words of advice – take them. As for clothes, toys and other baby essentials — chances are you’ll get them in abundance as gifts from friends and family. A huge help indeed.
Also, talk to seasoned parents, join online groups for new parents, and ask questions when in need. Parenting is not easy, so don’t feel ashamed if at any point you feel overwhelmed. More likely than not, your cries for help will be heard and answered.
Hope these simple tips would help. Happy parenting!
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