So a babe is on the way? Congrats! Along with the chaos of, well, everything that is to come, your finances are about to experience an upheaval, as well. According to the U.S. Department of Agriculture, it will cost upwards of $245,000 to raise a child born in 2013 to the age of 18—and this does not include college. Feeling that bank account burn already? Below are five tips for rocking your budget as a new mom or dad.

Kids seem to outgrow everything. Toys, stuffed animals and, of course, clothes can all seem a little too old or small for children as they grow up.

Clothes can be especially difficult to deal with because they tend to pile up, require weekly cleanings and end up being too small before they get much use out of them.