According to the stats, it costs over £75,000 to raise a child to the age of 18. If you have two children, double it. Three children? Triple it. I’ll let you do the terrifying maths. With that huge amount of cash on your mind, parents are likely going to want to cut the costs across the board. Fortunately there are some easy ways parents can save money with these 10 top tips.
Make A Family Budget
In order to make a family budget you need to look at what is coming into the account and what is being paid out. Getting your head around your finances makes sure that you can afford what you need as a family. You’ll need to cover mortgages, bills, and putting food on the table. See where you can cut back and once you make your budget, stick to it.
Be Savvy With Your Savings
When you know what you’re shelling out every month, pop anything leftover into your savings. You can never have too much in your savings account and it can come in handy if you need to pay for something specific for the baby. Some mothers like to take longer off work than the paid maternity leave so having some extra funds to lean on can certainly help.
Apply For Support
There are a variety of benefits and financial support you can apply for when you have children. You might be entitled to a Sure Start Maternity Grant. Child benefit is also an option as are Healthy Start vouchers which can be used at some supermarkets to pay for milk, formula and fruit and veg. Don’t forget that expecting mothers can get free NHS dental care and prescriptions whilst pregnant and for a year after the baby has been born.
Be Careful What You Buy
There are certain things that are suggested on baby must have lists, but really, a lot of these things are desirables, not essentials. These essentials include a car seat, pram or baby carrier, a bed for them to sleep in. If you get this sorted now, you’ll be less likely to look at things when baby has arrived and you’re up during the night feeding. No one wants a parcel turning up on the doorstep that you ordered whilst half asleep! Who knows what you bought?!
Save Money On Clothes
Children grow up so quickly. In the blink of an eye their not newborns, then they’re finding their feet, then they’re heading off the college! They don’t spend a long time in the same clothes, especially in those first couple of years.
Look Out For Discounts
You can join baby clubs at supermarkets and shops in order to get discounts and special offers. Keep an eye out for voucher codes when buying online too. Even if you just shop via a cashback site to get 2% cashback on your purchase, it all adds up!
Cut Back On Toys
To save money and avoid clutter, don’t buy too many clothes. A little bit like the clothes mentioned above, they grow out of them pretty quickly. You can’t go wrong with building blocks but similarly toddlers will get plenty of enjoyment from a wooden spoon and something to hit it against. You can also make your own shakers and from empty plastic bottles and dried pasta or rice.
Plan Your Food Shopping
You’re likely to be more tired than you’ve ever been before. Taking some time to plan your meals ensures that you eat properly and also know what you need to buy from the supermarket. Buying nappies in bulk will save money or you could save even more in the long run by investing in reusable nappies.
Plan Budget Friendly Date Nights
It’s still important for you parents to enjoy some you time. Whilst it might not be a night on the town, a meal together means you can actually see one another and have a couple of hours to catch up, distraction free. Two for one vouchers on meals, early dining offers or maybe even lunch dates can all help you enjoy a date on a budget.
Find The Best For Budget Baby Activities
So many mothers find it hard to get out of the house with a baby. It’s one of the best things you can do though. Getting out of the same four walls, getting some fresh air, meeting new people. It’s as good for the mother as it is for the baby. You don’t have to pay a lot to go to groups either. Don’t worry about signing up for expensive courses. There are likely lots of churches and community groups in your area who run baby groups. They are usually one or two pounds and tend to include a cup of tea and a biscuit or cake.
As you can see, there are lots of ways that parents can save money and these are two a couple of handfuls of ideas. There are loads of other ways too. The important this to remember, is that if you get your finances in order now, you’ll be less worried and spend less time sorting them out when baby arrives. Good luck, you’ll make wonderful parents!
