Top Strategies to Save Money When You Have Children

Having children is wonderful but the same cannot be said about what they do to the family budget. One must resort to several money-saving strategies to make the ends meet and raise a happy healthy household. Here are few tips to get you started.

  1. Buy second-hand clothes and there is no shame to it. At the rate the kids are growing these days, buying new clothes every few months will cost you a fortune. There are several good second-hand shops with clothes that appear as good as new. You can also take hand downs from family and friends.
  2. Avoid childcare. You will be surprised at the amount you can save when you skip childcare, enough to fund one kid’s college tuition. If skipping work and staying home is not an option look for help from family and friends; seek their help to watch over the kids while you work. You can team up with a friend and take turns watching over the kids.
  3. Plan your meals. It is very easy to go overboard on grocery shopping but with each meal planned the chances of you overstocking are limited. Cut down on eating out, this not only saves costs but also is healthier and safer for your family.
  4. Choose extracurricular activities with care. While it is natural that you want your child to achieve all the skills under the sun, it is practically impossible to enroll them in all enrichment classes. Hence, choose only those classes which will benefit them or in which they have interest.
  5. Go slow on toys. Encourage your children to not stock too many toys. Every time a new toy comes the old must go. Having a garage sale of used toys is a good way of making some extra money too.

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