As the economy spirals ever downward, the need to save money increases. New parents often feel overwhelmed upon being exposed to the exorbitant costs of raising children. But don't fear. There are ways to cut costs. Whether it's through creativity or a little extra work, it will pay off – literally!

"Rather than buying jars of baby food, cook vegetables for the whole family and run the baby's food through the blender," says Jill Ammon Vanderwood, author of What's It Like, Living Green? Kids Teaching Kids, by the Way They Live (Booksurge Pub., 2009). "You can do this with any fruit, vegetable or meat that isn't highly seasoned. This will save on the expense, and the waste of the jars."

Marissa Gillette of East Bay, Calif., has a friend with two kids who made all their baby food (except for carrots) and then froze some, so she always had it available. "Since a lot of the foods they were introducing were foods they would eat as side dishes, they weren't really buying separate foods, and they would just set aside some to be steamed/pureed/mashed/whatevered for Baby," Gillette says.

If you decide to eat out, do it at a restaurant that hosts "Kids Eat Free Nights," says Cindy Chapman, MomsLikeMe.com's Money Saving Mom from St. Paul, Minn. "Major chains like Fuddruckers host evenings where kids eat free with the purchase of an adult's meal."

Chapman is a big fan of shopping at thrift stores. "Don't think of just somebody else's used stuff," she says. "Did you know that Target and other discount stores send their unsold clothing, furniture and household items ... with the price tags still on them to places like Goodwill and the Salvation Army? The deals are amazing!"

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