There are all sorts of estimates as to how much it costs to raise our kids these days, but it’s widely agreed to be in the hundreds of thousands of dollars. Of course, most parents are on a budget – but even so, a few savings here and there can soon add up, so try our five money-saving tips and see how much you could save.
1. Home cooking
Preparing food at home is generally cheaper than buying ready-made meals in stores or eating out at restaurants. To get the best out of your home cooking budget, plan ahead. Plan a menu and let this dictate your shopping list. When you go grocery shopping – stick to the list! Impulse purchases can really add up.
If you have a baby, making healthy baby-friendly meals from vegetables, rice or potatoes can work out a lot cheaper than the baby food in jars and it can be healthier for your baby too because you’ll know what’s going in there.
2. Second-hand clothes
Some people don’t like the idea of ‘pre-loved’ clothes because they think new is best. These people could be missing a trick! Let’s face it, kids out-grow clothes and shoes in a matter of months and it can be really expensive to keep them kitted out in new clothes all the time.
You could ask friends or relatives with bigger kids to pass old clothes onto you, you could pass your older kids’ clothes down to their younger siblings or you could try the sale rail or second-hand clothes stores. After all, kids should wear what you tell them – up to a certain age, at least! (And if they’re really fussy, they don’t need to know where the clothes came from.)
3. Online shopping bargains
Online shopping can be a real blessing for parents who can’t make it out to the shops with their kids much. These days, there are so many good deals to be found online. One way to save money online is to buy second-hand goods from places like Amazon or eBay. Another way is with cash-back sites that reward you for buying goods. Finally, online vouchers can also save you money on your shopping bill – for example you can use these vouchers if you live in the UK. Remember, you’re only making a saving if you stick to buying things you would have bought anyway!
4. Staycation
The rising price of fuel has forced up the price of the typical air ticket. Taking a vacation every year isn’t actually essential, so why not save money and stay in your home town or city and plan some daytrips out instead? There could be all sorts of interesting things to discover on your doorstep. The money you save by taking a ‘staycation’ instead of an expensive overseas vacation could go towards the mortgage, paying off other debts, or into a savings account for a really special holiday in the future!
5. Childcare circle
Share the responsibility for looking after your kids with other parents. Other parents might be happy to mind your child for a few hours if you’re prepared to do the same in return, or something else of equal value to them. Childcare is expensive if you work – could you ask a relative or close friend to mind your child while you’re at work? It’s also worth checking you’re receiving everything you’re entitled to from the state if you have children.
These are just five simple ways you could save money while you’re a parent. The best thing about cutting unnecessary cost is that you can put that money to good use elsewhere – perhaps redecorating the kids’ bedrooms, paying off that expensive credit card bill, or saving for their future.