20 Tips for Saving Money When Raising Kids

Raising children can be expensive. Especially if you have more than one child.  In tough financial times, here are 20 possible to save money and to help cut the cost of raising children.

• Buying second hand clothes. Clothes are without a doubt one of the greatest expenses in having children.  Children grow up fast and usually need clothing for every season change. Buying second hand can save you money.
• Hand-me-downs. Once your child grows out of clothes, choose to save money by saving it for the next child along the way.
• Buying food in bulk. Food is also another large expense when taking care of kids.  Get a membership to your local food club so that you can take advantage of the savings when buying in bulk.
• Saving for college.  Kids are expensive! They get even more expensive when college rolls around.  Save for college over time instead of waiting until they enter college to do so. State sponsored “529” programs are a great way to save for college costs and protect against rising costs.  
• Eat at home! Restaurants can get costly when you have several children. Choose to eat at home instead of at restaurants for search for those that allow kids to eat free.
• Grow your own food. This will save you money and also help your children learn where food comes from.
• Limit sports activities. If you have several children, sports activities can cause you to dig deep into your pockets.  Allow each of your kids to participate in one sport rather than all of them. This will save you money and keep you sane.
• Teach your children to share. Toys are also a common expense. Focus on teaching your kids to share one toy instead of buying the same toy for all of them.
• Make school lunches. School lunches are very expensive if you have several children in school.  Making them yourself and not using fancy prepackaged “Lunchables” can save you money.
• Save on school supplies. Some states offer a “Tax free holiday” for buying school supplies and stores like Wal-mart often has School Supply Sales just before the start of school. Stock up during these times.
• Find free activities for them to enjoy. Enjoy free family outings such as going to the park instead of participating in activities that cost money.
• Buy off brand. Brand name food and clothing can be costly.  Choose to buy trusted off brands instead for being persuaded by brand name clothing.
• Don’t buy expensive furnishings. While your children are little, there is no use in furnishing your home with costly things that will just be ruined.
• Give your children vitamin C. Vitamin C will help build strong immune systems and limit your trips to the doctors.  Co-pays aren’t cheap!
• Be the tutor! Take on the challenge of being your child’s tutor instead of paying someone to do it.
• Go small for birthdays. Small gifts for birthday will save you money.  You can make birthday specials without spending tons of money. Choose to cook a special meal and give a small gift instead of hosting an extravagant birthday party.  It will soon become a family tradition.
• Require that older children contribute if they want something special. Make your children contribute if they want expensive shoes or clothing.  Encourage them to save their allowance to help pay for things. This will teach them the lifelong lesson of saving and help save you money, too.
• Couponing. If done right, coupons can help you keep money in your pocket.  They are very beneficial for food and hygiene items.  Take up the hobby of couponing.
• Don’t shower them with gifts ALL throughout the year.  Give your kids gifts on special occasions instead of giving to them every day. This will save you money and make them appreciate the gifts more.
• Find alternative rewards instead of weekly allowances. Instead of shelling out a weekly allowance, give them privileges such as inviting a friend over, or staying up late at night.

If you are searching for ways to save money when raising your kids, allow the tips above to help. How will you save?

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