Who says raising a child is easy? There are sleepless nights, hidden costs, and a lot of stress involved as a parent. In fact, it can be incredibly difficult to raise a child when you’re trying to live frugally. Luckily, there are many ways to save money raising a child, and it just might surprise you how easy it is to make compromises! So without further ado, here are a few fantastic money saving tips for raising kids on a budget without making them feel like they’re living cheaply.
Money Saving Tips #1: Buy Used
One of the biggest costs when raising kids are clothes and toys. Don’t be afraid of buying ashamed to buy used or receive hand-me-downs from other family members and friends.
Garage sales are also an excellent source of fantastic items for a low price. If you’re worried about hygiene then this might not be an option for you. However, washing them in a hot cycle with a good detergent will remove almost all of the bacteria and germs and make it clean and fresh for your child to use the next day.
#2. Purchase Multi-Purpose Items
This next suggestion for money saving tips when raising kids is especially important if you are a parent to more than one. Instead of buying two single beds, purchase a bunk bed. And rather than getting two computers, get a single one for your children to share.
Instead of buying a double stroller, invest in a sit and stand one. WiseMamma has plenty of additional advice on sit and stand strollers. This type of stroller is the perfect example of a multi-use product that will save you a lot of money in the future. This point is even more important given the stroller becomes useless once your child outgrows it. You can still donate it to a pregnant family member or friend, or to a local women’s shelter though!
#3. Flexible Working Hours
Want even more money saving tips? This next one applies to the workplace. Instead of hiring a nanny or sending your child to daycare, consider asking your employer to:
- Change your working hours,
- Allow you to work remotely from home, or
- Provide you with monetary assistance for childcare
Paying someone to look after your child is very expensive, as you likely already know. It can sometimes reduce the quality of time you spend with your child too, so think about whether it’s the right option for family.
#4. Raising Kids and Toy Limits
Children love toys. It’s not uncommon to spends thousands a year on different electronic toys and gadgets for kids. This is why it’s incredibly important for parents to try and limit the number of toys they buy – at least if you want to start using save money tips! As with the first point, buy used, if possible. If not, then try and only buy new toys once they’re on sale, or if you have a related coupon.
#5. Watch the Grocery Bill
One of the golden rules of living healthily is to buy fresh ingredients and cook your own meals. You’ll not only find you save calories and fat when you’re not dining out on gourmet meals but you’ll also save your family cash. And you’ll also be teaching your kids good eating habits! As a rule, try to avoid fast food too as generally it is unhealthy.
When raising kids, you might start making your own baby food! Try cooking all family meals from scratch or at least once a day, if you can. There’s a lot of easy meal prep recipes that are cheap and taste good too. By using this and other money saving tips, extra cash can then go toward other things, such as school-related expenses.