Finances & Money

Five cool lifehacks to help families with kids save money

Having kids is expensive – there’s no getting away from that fact, and even the tiniest of babies can soon have a dramatic impact on your family finances. As children get older and keep outgrowing their clothes and shoes – as well as of course wanting to own the same cool clothes as the other kids and keep up with all the latest trends – the costs only increase, leaving many families scrabbling around trying to cope when there’s too much month left at the end of the money!

If you’re trying to cope with your family finances burgeoning out of control, don’t despair. In this article, we will share five cool lifehacks to help families with kids to save money – without your children even realising you’re tightening the budget.

Pick up an extra income you can do from home to top up the coffers

A little extra money would be welcomed by most families, and having an additional stream of income coming in can really help to ease the burden on financially stretched parents, or help to pay for special days out and unforeseen expenses.

More and more people are becoming self employed and working from home today than ever have before – and there’s no reason why you can’t join them and make cash from the comfort of your own home whilst still being there for your children. Plus, if you’re successful, you might be able to ditch the day job entirely and find yourself a whole new and profitable career!

One of the best ways to earn money from home without having to spend any of your own money or lose lots of valuable time learning a new vocation is to join an affiliate scheme to promote partner products and services and earn commissions.

Look for a profitable CPA network that provides goods or services you want to work with, and spend an evening setting up a website and some ads to promote it with no risk or financial outlay on your part, and you might just find that your financial burdens are a thing of the past by this time next year.

Join local swap and share groups

Kids are pretty hard on their clothes and shoes, and always seem to be asking for the latest new toy or gadget, which can be really hard on parents who want to give their children the best of everything but who can’t always afford to say yes.

However, you’re not alone in this respect, and most local areas benefit from parent-led swap and share schemes, which may operate online on sites like Facebook in local group pages, or might be arranged by community groups, schools, and other organisations.

Local sale, swap and share groups can help you to offload some of your own kids’ unwanted toys or outgrown clothes and earn a little cash back or trade them in for something else, as well as giving you the opportunity to swap or buy toys, clothes and other things locally for a fraction of the store cost.

You may even find help with babysitting, ride shares, and all manner of other cost-cutting support too!

Check out free stuff for kids in your local area

Keeping your kids active and having a good time doesn’t have to be expensive – and if your child has an aptitude for something or finds a certain activity enjoyable, they won’t care if it was free or cheap.

Paying for hobbies and activities for children can be costly, but there are also lots of free or low-cost alternative options too, such as kids’ sports leagues, have-a-go and taster sessions for crafting and hobbies, and in some areas, free or subsidised tuition in things like music and art.

Get creative to have a good time without spending a lot

For most activities aimed at children, you can spend a little or a lot – with kids’ birthday parties being a great example. Paying for your child’s whole class to have a party at a fast food joint or jungle gym is likely to run into the hundreds, but hosting that same party at your home with a buffet of food and some games and activities for your guests is something that parents on even the tightest of budgets can usually achieve.

Focus on creating experiences and memories, and the kids will have a good time – giving your kids something cool, fun or new is much more valuable to your children than spending a fortune on physical goods or flashy gimmicks.

Buy second hand

Finally, you can make significant savings on pretty much everything involving your kids if you make it a habit to look for second hand alternatives to regular and expensive purchases.

Your teenager needs a new smartphone? Consider buying reconditioned or second hand (and don’t forget to cap their spending limit)!

The same goes for children’s clothes and shoes – again, those local swaps and share groups are a great place to pick up good quality clothing and accessories for kids without breaking the bank, as is looking in charity shops, second hand stores, and on websites like Ebay.

When it comes to purchases like bikes and other larger toys too, buying second hand can save you a whole bundle of cash, that you can use to provide more of the things you and your family enjoy.

Cutting costs when kids are involved doesn’t have to be difficult – and following these five cool lifehacks can help you to do just that.

 

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Susan Paige

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