Precious little newborns with their tiny fingers and toes: you can’t help but love them. However, by the time that cute newborn reaches 25, Irish parents may have spent in excess of €250,000 between food, education, clothing and holidays.

The list is endless. Recently Mykidstime.com celebrated a decade in business and mums and co-founders Jill Holtz and Michelle Davitt had plenty of advice on negotiating the financial milestones of a child’s life.

1. Birth

Don’t get sucked into buying silly extras like wet wipe warmers (yes, such a thing exists). Michelle says: “Ask parents who have babies already what you really need. Then shop around for your key items: the pram, cot, changing table.

“Usually parents and close family will offer to help out too, so if you can get a bit of assistance with the big items, that helps.

“Look out for baby specials from the big supermarkets. They have them regularly and are a good way to pick up items at a lower cost,” she suggests.

If friends ask what you’d like when the baby is born, then tell them bigger clothes: babies grow so quickly that having some older age clothes for them to use helps out too.

“I always handed on the good clothes to Michelle as her girls were younger”, says Jill. “When they’re really small they usually only end up wearing outfits once or twice at the most, so they’d always be in great condition”.

2. Toddlers

“Apart from childcare costs, which are difficult to make savings on, this can actually be one of the cheapest stages, we feel,” says Jill. “Toddlers need amusing, so many parents think buying lots of toys is the answer, but actually too many toys has been shown to hinder their creativity and play skills. So keep a stash of toys hidden away and swap them out every month, so that the kids feel like they have new toys.”

Michelle recommends making yourself an art-and-craft box or tub, “Then pick up art and craft materials at discount shops and you’ll always have something that your toddler will enjoy. And don’t forget about simple activities, like water in a jug and a bowl on the kitchen floor for some fun water play – totally free.”

3. Starting School

The age-old uniform debate can be a hard one to navigate, but Jill says: “Check with the school what is required to be crested and if you can buy crests to sew onto generic uniforms. Start a school slush fund early, so you have a pot of money to cover the big things: books, uniform, shoes. There will be other things to pay for when they start school so it’s good to spread the cost where you can.”

“The exception is shoes,” says Michelle. “Buy shoes last, because feet grow quickly at that age. Shop around for books, you may even get some secondhand. Look out for early buying discount offers – around May and June – for school books, school bags and uniforms, etc. When your child starts school, they don’t need a big bag, they’re really only taking their lunchbox and maybe a copybook to school each day.”

The one extra cost at school time that Jill says you should consider paying for is getting the books covered when buying them. “Although it costs extra at the time, by the time you buy the covering materials and spend all that time snipping and sticking, you’ll actually realise it’s worth the extra cost, especially as you’re likely to be cursing the process after the first book.”

4. Communion and Confirmations

Communions can be an especially big cost for parents, widely reported to be anywhere between €700 to €1,000-plus, with some parents even going into debt to help pay for the big day. Remember: it is just one day.

Jill says: “Our advice would be to start saving early and shop around for dress and suit deals. Many of these are in the shops even before Christmas. Also check retailers like TK Maxx, Aldi and Lidl, which always have a selection of communion outfits in stock.

“For the rest of the family, remember you don’t want anyone to outshine the communion child. If you do want new outfits for everyone, be smart and purchase items that will be worn again. There is no shame in borrowing from friends for the day either – for you or the communion child. If you do want to give your child a new outfit, maybe look at borrowing the accessories.”

As for entertaining, Michelle has the following advice: “If you plan to go out or have caterers or entertainment at home, book early as dates around communion time fill up quickly. Don’t be afraid to ask what can be thrown in if you have a bigger group. The same applies to confirmations.

If you’re hosting a party at home and you want to cater it yourself, ask friends and relatives to help out.

Many will have a special salad or dessert that they would be happy to make and bring along for the big day,” she suggests.

5. Teens

Now the teens can be a pricey time for families, especially when they head to secondary school. “Between the branded clothes and shoes they insist on wearing, the latest devices they want, the school books and the exams you’ve to pay for – never mind cinema tickets, discos and the petrol for ferrying them around – all these costs add up,” says Jill.

“While it may seem exorbitant paying for certain branded gear, going with the cheap items sometimes backfires if the quality just isn’t there. You’ll end up having to buy more too soon.

“It’s a balance between saying no to the designer gear because ‘everyone else has it’ and helping your teen to fit in, which is all they want at this age usually. Shop around online to see if you can save any money by buying from a different online retailer.

“It’s not all bad news for Irish parents, as shops like Penneys offer good value on clothing, accessories and homewares – and most weekends they are full of tweens and teens hoping to bag a bargain.

It’s good to teach kids financial and budgeting skills and even start to think about work.

Michelle says: “If families in your area have younger children, you could encourage your teen to ask about babysitting as a way to earn a little to spend on themselves and give them a sense of independence.

“Also, shop around for mobile phone and usage plans. See if you can get a family mobile plan to help keep costs low. And remember your teens often use the data, rather than the calls and texts. Once they’re on wifi, they can message or Snap all their friends that way.

“My husband is great at shopping around every year for the best phone plan deal,” says Jill. “Just because you’ve gone with one provider for a while doesn’t mean you have to stay with them and, in fact, new customers usually always get better deals.” CL

www.mykidstime.com has a full range of blogs on saving money for all stages of your child’s development.