Instead of emptying their wallets to ensure their little ones have fun, families can borrow new toys from the library instead.

So far 60 families from the Oakleigh and Clayton areas have signed up for the service, which offers more than 800 toys. Parents can choose from a range of costumes, puzzles and music. There is also a dedicated baby section.

At the moment, the most popular toy is a wooden balance bike which can be ridden like a scooter.

Oakleigh Clayton Toy Library committee member Amanda Ellaby said the library was a way of supporting parents financially. "Toys are quite expensive to buy and also kids move through toys pretty quickly."

The toy library has been operating in the community since 1990 and is run by volunteer parents.

Mrs Ellaby first heard about the toy library when she was pregnant with her son, Finn.

"I had my first baby and thought it would be a great way to avoid the clutter in my house."

The library is aimed at children between six months and six years old. Besides toys, it also has a range of cookbooks and cake tins that parents can use for birthday parties.

Membership allows parents to borrow a toy for two weeks. All the money raised goes back into buying new toys.

The Oakleigh Clayton Community Toy Library is open on the first and third Tuesdays of the month from 10-11am, on Wednesdays between 7pm to 8pm and on Saturdays from 10am to 11am. Cost: $50 for 1 child, $60 for 2 children and $70 for 3 children or more. Concession rates apply. Details: 9564 7200.