When it comes to having children it is never going to be cheap, each year it seems that the costs for caring for your children seem to rise but earnings basically stay the same.
It is said that on average it can cost upwards of $103,000 to raise a child to the age of 18 which is a lot of money.
It can be hard to know where you can cut back and save money when looking after children but there are a few things you can do to save money.
If you are raising children or planning on having them but you are unsure how you are going to be able to save up some money and save money while you have them, then, hopefully, these few tips will give you some understanding of what you can do to save and help you get started.
Workout out your family budget
The best place to start is to figure out your budget for the whole family, so this means all income thrown in.
You need to see what all the expenditure comes for the whole family, so this means bills, going for coffee, going out for dinner, buying food, getting petrol etc.
Once you have worked out how much you spend a month then you need to take off the overall income you will have so you can see if it is affordable and how much you are able to save each month should you need it.
Obviously if you already have children you would have budgeted for them but if you are planning for them then you need to think whether your left over income would cover what they needed.
With this done you can now see where you can cut back and where you can save when it comes to your monthly outgoings.
Try and recycle clothing and toys etc.
This helps if you have multiple children too as you can use the clothing of the eldest for the youngest and pass things down, this can really help you to save some money instead of having to buy brand new toys, clothes and books etc.
You can also look to repair clothes should they get little bits of damage or tears instead of having to replace them, if you are very hands on and crafty then you could even try making your own clothes by getting yourself a lovely Handi Quilter Moxie sewing machine.
Seek out support
If you are really struggling then you should look to see if you are eligible for financial support and benefits. This can help you to get on track and keep up while you sort out your income crisis.
Not everyone is eligible but it is always worth a check as it could be really helpful to you if you are.
If you are looking to try and save some money or you are struggling to afford your children and you are unsure how to start turning it around then these few tips should help you to start saving some money and get back on track.
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