Statistics reveal that parents are required to spend a whopping $227,000 to raise a child between birth and when the kids can become adults and start working for themselves. These seven steps will surely help families achieve budget goals without having to turn their lives around.
According to CNN , the cost of raising children has spiked up at about 40 percent in the last decade. While it is true that providing for children's needs give parents such a wonderful sense of fulfillment, it is not easy to raise enough money. Hence, sacrifices should be made but these seven steps can help make it easier.
First is to plan family meals. Often, families find themselves ordering burgers and fries in fast foods instead of serving a complete meal minus fats and calories at home. Families can plan their meals weekly using online planners like Food on the Table or even manually. You'll be surprised how much time and of course money you can spare by knowing what's for dinner with all the required ingredients awaiting in the fridge.
Next is to shop smart. Families can relieve shopping pressures by making a list of all necessities before hitting the malls. It is advisable to leave little children behind when shopping since there's no saying no to these tiny humans once something catches their eye. It is very important to stay faithful to the list as well.
The third one is to plan staycations, which will be as fun as outdoor excursions minus the cost. For the forth tip, families should also start investing in reusable items. Instead of buying disposables, invest money on items that can be used for extended periods and save money in the long-run.
Fifth and sixth tips are shopping around and considering second hands. Look around and compare prices and consider thrift stores and garage sales along the way. Finally, the seventh tip brings back the basic - be energy smart.
Saving money for the family need not impose drastic steps and major life changes. Small and simple methods can make a big difference.
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