When I was younger I didn’t really think to much about “investments”. Sure I started an RRSP when I was just out of University but I never really got that into it, you know.
When our daughter was born we had multiple people asking if we started an RESP (Registered Education Savings Plan – something like that). We had not. Lilly was four weeks early so investing in her future education was not our number one priority. Eventually, after her first birthday (and collecting gifted money to Lilly) we started an RESP. So we’re all set up there.
Back to when Lilly was first born. We spend 5 long days in the hospital because she wasn’t nursing well and she had jaundice. They wouldn’t let us leave until it she got better. We had planned on cloth diapering but did not have an opportunity to purchase any cloth diapers, so we used what the hospital had – Pampers brand. Lilly was only 6 lbs 13 oz and dropped down to 5 lbs 15 oz while in hospital, we had to use premie diapers or Size 1. We went through so many diapers in the first month, I just thought it was crazy. I had a good laugh one day that we should have invested money in Pampers. Now I am thankful we invested in cloth diapering.
Since then, there have been many more items I think we should invested in and here are a few examples:
- Disposable diapers – because so many are needed.
- Cloth diapers – because they are a great investment and increasing in popularity .
- Pads – anyone who’s had a baby will understand that one.
- Infant Tylenol or Advil – because when your child is sick you’ll do anything to make sure they get better (AND sleep).
- Infant Vicks rub – see #3 explanation.
- Baby clothing – they grow so fast, it’s a marketer’s dream.
- Children’s toys – again they grow so fast through many stages of learning.
- Cars parts – when you need a car for work or your basic needs you’ll pay to keep your car running.
- RESP – because our daughter will have some money for her education (when she get’s there).
- Wine -because parents need to get through the night 😉
What do you invest in? Or what do you think is a good investment (for fun or for money)?