Child Raising Expenses: Tips to Make Parenting Dollars Stretch Further
Raising a child comes with many expenses. The average cost for a middle-income family in the U.S. is estimated at over $250,000 from birth to age 18. To make your parenting dollars stretch further, consider these money-saving tips and tricks:
Prepare Your “Defense” Strategy:
Learn how to say no, or offer alternatives like putting items on a wish list for future purchases. This teaches valuable lessons about budgeting and personal spending habits.
Form a Co-Op:
Work with other parents to form a co-op for buying bulk goods like diapers and clothing that can be distributed among group members.
Watch for Your State’s Sales Tax Holiday:
Find out the dates of your state’s sales tax holiday and take advantage of lower-priced back-to-school, energy efficient appliance, or hurricane preparedness items.
Plan Purchases:
Before heading to the store, create a shopping list and stick to it. This will help you avoid impulse buys.
Take Advantage of Seasonal Sales:
Keep an eye on seasonal sales for clothing, toys, and school supplies to save money while stocking up on essentials.
Shop Post-Holiday Clearance Sales:
After major holidays like Christmas, stores often discount leftover items at deeply reduced prices. This is a great time to stock up on gifts or everyday necessities for the year ahead.
Visit the Clearance Table Early and Often:
Check clearance tables as soon as possible when you see them. These are often filled with items that will not make it to a final markdown, so move quickly to avoid missing out.
Unleash Your Inner Negotiator:
When bargaining, be respectful but confident. Ask for discounts on large purchases and don’t be afraid to walk away if the seller won’t budge.
Approach Online Shopping as You Would Black Friday at the Mall:
Comparison shop online and use discount codes or cash back services like Ebates to get the best deal on your purchases.
Compare Prices:
Don’t settle for a single store’s prices. Use comparison shopping apps, such as ShopSavvy or RedLaser, to make sure you’re getting the best price at every turn.
Love Thy Community (And Its Bargains):
Get to know your local community and take advantage of its offerings. Free days at zoos, museums, and parks can be found through online research. Many libraries and theaters also provide free entertainment for residents.
Dine Out for Less:
Families with children can often find “kids eat free” deals at restaurants to save on meals. The Entertainment Book offers buy-one-get-one-free deals on dining, movie tickets, and more.
Reuse and Recycle:
Get creative with upcycling old furniture or clothing. A fresh coat of paint can transform a piece into an entirely new item. Let friends and relatives know you’re open to hand-me-downs for their outgrown children’s items.
Harness the Power of “No”:
Saying no to your children or delaying purchases can help them learn patience. Sometimes, the anticipation of getting that special toy or outfit makes it even sweeter when they finally get it—and you save money in the process.
Embrace Free Activities:
Teaching your kids valuable lessons while saving money doesn’t always have to involve spending. Plan free family outings like visiting cultural venues, hiking, or going to the park to make memories without breaking the bank.
These 15 tips can help you save money on child-related expenses and turn everyday life into an opportunity to teach valuable lessons in budgeting, spending, and resourcefulness. With a bit of effort and creativity, you’ll be able to stretch your parenting dollars further than you ever imagined.
Disclaimer
While we endeavor to keep information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Please note that Bullsevevergreen.com an all its pages and content is intended primarily as an informational platform and not a financial advisor, planner or brokerage firm. The content on our website should not be considered as personalized investment advice for any individual's specific circumstances. Any information provided by us does not constitute professional advice, nor does it take into account your personal financial situation, goals, and needs.
Investing in the market involves risks including potential loss of principal invested. The strategies discussed on our site are based on historical data; past performance is no guarantee of future results. Before making any investment decisions, we encourage you to seek independent professional advice tailored to your financial needs and objectives.
By using Bullsevevergreen.com and its resources, you agree that the information provided does not create a client-broker relationship between us or our affiliates and yourself. We do not provide investment recommendations nor endorse any particular securities, funds, or strategies. Always conduct your due diligence before making investment decisions based on content from Bullsevevergreen.com.