Tips on Saving Money on Kids
Here are the top ways that you can save some cash when it comes to having kids. Even if you only have one, money saved is always a good tune to listen too.
Always, Always Use a Budget
We cannot stress this tip enough! Using a budget keeps everyone on track. Have the money you earn coming in on it, as well as what is being spent. Keep amounts for yourself not to go over. Make sure to know what is needed each month then figure out how much extra you have. Not only does this help with kids, but it can help with the household bills overall.
Broken Baby Item? Fix it
Instead of heading out and buying a brand new whatever just broke, try to fix it first. See if there is a replacement part or a warranty. Find out if it is something that can just be glued back on. You don’t want to keep spending money on items that could be fixed if you tried. Tutorials are all over the internet for many ways that you can fix items of all kinds.
Buy Used Instead of New
While, some items are great to purchase new, you also want to consider purchasing used when the time comes. You don’t want to spend too much on the products but you also might need them when you have kids. Think about purchasing used, instead of new. This way, you can save some cash but still have the item that you need. Craigslist and rummage sales are great ways to find gently used items such as baby strollers and kid toys.
Give Experiences, Not Many Gifts
You might think that this is actually more expensive than just buying a gift but in fact, it is not. You can get one price on purchasing the experience instead of having to go and purchase many toys and extras. When you give them an experience instead of an item, you’re also helping to build their character and who they are as a person.
Tone Down Parties, Gifts and Extras
If you want to save some cash, then toning down the amount that the child gets during these holidays and events is always good. Not only will they thank you later for not having all that stuff, but they won’t have to worry about where to put all of the stuff! One holiday idea was a handful of items the children really wanted, then a little extra for the kids to spend on another family to donate too. This way, it is a win-win with getting something special that they want, but also doing good.
If you have multiple kids and really want to give them something really nice, instead of spending a fortune on each child’s individual gift consider doing a group gift such as a video game system or trampoline. A gift that every child can use and excited for.
Of course, you probably will come across some of your own money saving tips when it comes to kids. However, these are great ones to use. These tips can save some cash here and there, while providing you with a way to get the most out of your cash flow. Never have to worry about not being able to have enough cash to support the kids. You should sit back and know you have saved some extra pocket cash to do something else with! Who knows, maybe a family vacation is a great thing to take!
James is an internet entrepreneur, blogging junky, hunter and personal finance geek. When he’s not lurking in coffee shops in Portland, Oregon, you’ll find him in the Pacific Northwest’s great outdoors. James has a masters degree in Sociology from the University of Maryland at College Park and a Bachelors degree on Sociology from Earlham College. He loves individual stocks, bonds and precious metals.