Money & Finances

How To Minimize the Cost of Raising Kids

If you have kids, then you know how suddenly your cost of living has a way of going up and up and up. The truth is though, it doesn't have to be that way. While it's true that you are going to spend more money if you're raising a family, there are things you can do to minimize the costs.

• Forget about buying brands. Let's face it most of the cheaper generic type brands are just as good as the expensive ones. So why should any parent pay the extra cost when they can save it for other things by buying t he cheaper brands?
   
• Switch from disposable diapers to cloth diapers. Not only will you save money when you do this, but you'll save all those disposable diapers from winding up in a land fill. Also, some babies are allergic to disposable diapers, so you are also avoiding a nasty skin rash as well.
   
• Hang onto your older children's clothes and pass them down to your younger children. There's no reason to not save money by doing this, especially if the clothes are still in good condition. 
   
• Network with other parents. This can really work well when you know another parent whose baby is a stage ahead of yours because if you let them know you are interested in buying any furniture or clothing that their baby outgrows, you can get some real deals.
   
• Purchase used baby and kid's furniture, then if you know you will be having more children, hang onto it for the next baby. While some standards do change when it comes to cribs and such, it usually just takes a little research to figure out what will bring a piece of baby furniture up to code so to speak.
   
• Don't buy happy meals when you go out for fast food. Instead buy an inexpensive sandwich and fries and split them between two kids. The only thing the kids will be missing is the toy, and let's face it, they're probably only going to play with it for a few minutes anyway and it will then be forgotten.
   
• Consider bartering for services with other parents. We all know it's easier to go grocery shopping when you don't have screaming kids along wanting every colorful thing they see. Find another parent who'd be willing to watch your kids if you watch theirs another time.
   
• Have an understanding of what kids consider toys. All you have to do is remember how cool that big cardboard box was and how it could become a space ship, or a car or whatever your imagination could come up with, to realize that kids don't need a lot of expensive toys. They'll appreciate the cups, containers, boxes and other things they make into toys far more.
   
• Create experiences for your kids that they will remember. Kids don't understand about keeping up with the Jones'  all they are really after is a fun and memorable experience. You as the adult choose what is fun and memorable, and if you choose inexpensive or even free experiences such as a trip to the library, your kids will see these things as fun and memorable too.
   
• Figure out with your spouse how much you're willing to spend on gifts. If you are always buying big expensive gifts then your kids will come to expect big expensive gifts. However, if gifts are seen as treats and you give gifts  you can afford, that is what your kids will come to expect and believe gifts should be.

Also see the cost of raising a toddler from age 2 to 4.