6 Money Saving Tips For Parents
Being a parent is challenging for many reasons and money issues are high among them. According to the Business Insider, it will cost parents more than $230,000 to raise a baby born in 2015 through age 17. And please let’s not talk about prom and college.
Explore these tips to help you make the most of your money as your family grows.
1.Budget for diapers, formula, groceries and whatever else and then round up.
When I had my youngest son, I thought I would breastfeed longer, but I went back to work and that was harder to keep up with then I imagined. I even underestimated how long my 3 year old would be in pull-ups. Those are just a few examples how we often as parents mess up our budget by not planning things through. I had to take money out of another part of my budget in order to compensate for formula and pull ups when I ran out. This resulted in me messing up my budget for the month. To save yourself from the mistake I made follow this formula: When making your budget for the month, whatever you think you will spend on diapers, formula, wipes, groceries, etc, add 25 to 30 percent onto that amount. Doing this will allow some wiggle room if you underestimated an expense.
2.Use Amazon and Save
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There are a variety of products on amazon that you can put on reoccurring order. You’ll receive a shipment at regular intervals. The best part is, you get a discount for setting it up. Right now I use it for diapers and wipes and I am paying 15% less than I would at Walmart or Target.
3.Use The Toy Budget For Other Things
Your 1-3 year olds will not remember if he or she only gets a few things for their birthday or on holidays like Christmas. When they are very young, don’t waste money on toys, gifts, expensive clothes and shoes. You can save the money you feel like spending in a college savings account instead.
4.Check Your Local Town Options for Free or Cheap Activities
You may have more free or cheap resources available to you than you think. Learn about all the free stuff your local library offers. My local libraries offer free story and play groups for kids in the morning and evenings on certain days. You can also use GROUPON as a resource. I have a family of 6, so taking the kids anywhere fun can easily run me $80 bucks or more. This is why I love Groupon. They offer certain activities for a discount that is in your area and they have an entire section dedicated to kids activities. I recently used a Groupon for the movies. It was $18 for four movie tickets and it included popcorn. If you’re looking for a fun activity for your kids, CLICK HERE to check out how your kids can bowl free in almost any state.
5.Shop Second Hand First
Many communities have local parenting groups, just like THE BABY MADAME FB COMMUNITY, which are gold mines for hand-me-downs and other goodies. These groups are often great places to pick up baby formula and food, barely worn clothes and shoes, toys, and even larger furniture like high chairs, rockers, etc. I’ve gotten so many wonderful things for free or really cheap from groups or even facebook market and OfferUP. Now don’t just thing baby items when shopping second hand. Almost everything in my home was purchased or given to me secondhand. I got a washer and dryer from offerUP for $100 for both. Even better, I got an entire living room set from a family friend for $400. But you know what’s way better? I got a large sectional for my basement completely free!
6.Consider Your Daily Decisions
Daily decisions can add up to large dollars. Think about ways you can save money by doing it yourself. For an example, for the longest my husband and I was paying someone to cut our grass or shovel the snow. This is something we can do ourselves. We were spending almost $100 every two weeks for lawn care now we just pay for the gasoline to put in the lawn mower. Another example is ordering take out or buying fast food. Now I get it, after a long day with the kids or a long day at work, the last thing you want to do is make dinner. But you can be saving money by doing so. If cooking dinner is a huge task for you please CLICK HERE to read my blog posts about why every parent needs a crockpot.
I hope that these money saving tips will help you keep your finances under control without stressing you out.