New Baby Doesn't Have to Break Expecting Parents' Budget

ABC News' Mara Schiavocampo reports the latest news on ways to reduce costs on items for that new bundle of joy.
3:16 | 07/27/15

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Transcript for New Baby Doesn't Have to Break Expecting Parents' Budget
We're back with "Gma on the money." This morning, how the save big on the high cost of having kids. The average middle income family spends more than $300,000 to raise a child until they're 18. Let's not discuss the costs of college. There are small things to put money back in your pocket. Ma Mara schiavocampo is with us to tell us more. Reporter: That mum includes $13,000 on child-related expense in the first year alone. Don't let that idea of spending all that green give you the baby blues. We found ways to cut those expenses in half. With 2-year-old twins Cameron and Carter, this family spent $3300 per year per child in the first year. What were you spending the money on? The most expensive was form formula. About $1800 a year per kid. Diapers about $1200 a year per kid. Reporter: Now, with a third on the way. I think we'll be more conscious with spend iing. Reporter: Enter bay beau bargain expert. When it comes to form larks don't dismiss generic. It's regulated by the government. Where you buy a name brand or store brand, it's the same nutrition. Reporter: We compared the basic nutritional information two W this name brand and the store brand. How much vitamin a. 300 iu in both. It's the same stuff. Reporter: Using the generic brand saves them $900. Next up, try a subscription service for wipes and diapers. It costs $99 a year but delivered strait to your door every month and saved you 20% on every single purchase. Amazon mom, we estimate would save you $865 a year. Wow. Wow. Reporter: Finally, one of the biggest expense es of having a bay pea. Well, having a baby. They received a surprise bill after the delivery of the twins. An extra $0,000 for their anesthesiologist, who they assumed was in their net work. Were you surprised to get that bill? Yes, very surprised. Reporter: Ahead of time, check that all providers are covered by your insurance. That will save them $,000 this time. In total, that's almost $4,000 back in their baby bank. And as for the form larks please make sure you speak to your pediatrician before making changes. When it comes to dirps, wipes, wipes are generally way too big for new borps. Cut them in half for the first few months. Those tiny tushies don't need that much. You can use cloth nappies. I learned that. We have two "Gma" babies on the way. Ginger and Mara. Taking notes. Split the wipes. Tear it off. Yeah, we'll share them. Take a look at this picture. Do you know who this is? And why this picture is trending

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