This is a collaborative post by Ellie Jo.
Did you know that the cost of raising a family keeps on rising year upon year? In fact, it is believed that the cost of looking after a child from their birth until they are eighteen-years-old could cost a couple around $222,000 in total. That’s an amazing sum of money! If you have more than one child, then that price is going to be substantially more than that. Don’t forget that that figure is just until they are eighteen – if your children live with you into their twenties, then you will have to shell out a lot more cash!
How to save money while raising kids
Having children is an expensive business then. Does that mean that saving money while raising kids is impossible? Not always – here are some great tips that can help you squirrel away some extra cash.
Look For Free Days Out
You don’t have to always spend a fortune to keep the kids entertained at weekends and during the school holidays. In fact, there will be lots of great free days out that you can all enjoy as a family. Most museums and art galleries offer free entry to their main exhibitions. You might only have to pay to see the special exhibitions that they are hosting. For a cheap day out in the sun, why not head to your nearest park or beach?
Try To Wipe Debts As Quickly As Possible
If you are currently trying to pay off any debts or credit card bills, you should endeavor to do so as swiftly as possible. That way, your money can go towards savings rather than paying off the money you owe. Websites like debtconsolidationloans.com will have some great information as to how you can pay off any debt as quickly as possible. There are also plenty of hints and tips on how to successfully consolidate all your debt into an easy to handle monthly payment.
Switch Your Energy Supplier
Do you think you could be saving some cash on your monthly utility bills? You probably could be! It’s really easy to switch your energy supplier, and doing so will help to save you a few bucks each and every month. That will build up to be a considerable saving over the next few years. If you want to find out more about switching energy suppliers, you should check websites like uswitch.com.
Always Budget Well
A budget will serve you and your family very well for years to come. It can give you a quick overview of your whole financial situation, and it can also help you to improve how you manage your money.
Every Little Bit Counts
Don’t be worried if you are only able to save $10 one month – that is definitely better than nothing! Every little bit counts so even small saving amounts should be celebrated, and they will certainly help you reach your savings goals.
So, as you can see, it actually is pretty easy to save a bit of money when you have to raise children. Before you know it, your savings could be quite substantial!