Smart Ways To Save Money While Raising A Family

Raising a family

Is fun, exciting, complicated and expensive. I say all this while we are expecting our second, so I am smiling. Raising a family is full of joy and it has it’s rough spots and learning curves.

Raising a family can be expensive adding in more than one child and you need to learn to balance and save money.

Let’s face it you want to give your children the world, show them all the amazing things that life has to offer but this comes with a price tag. So how do you give your children the best life without going over budget.

I am going to note one thing when I say best life it doesn’t mean all the “stuff” you can pile into a room. It means giving your child a meaningful, healthy, loving home to grow up in and experience all that life has for them.

how to raise children on budget?

First off you will go over budget every once in a while. You may purchase too many baby items, or too many toys.

A medical bill may come up or maybe you found out you are having multiples instead of just one child.

There maybe family stuff like job loss or health issues. It happens, you’re not alone. Do not take one slip of the budget as a bad thing, you have to roll with what life hands you.

budgeting

The best place to start saving money is by creating a budget. Knowing how much money you have coming in and how much your household expenses are is important. Learn exactly what we stopped spending money on to save over $1000 each month.

Once you understand where all your money is going you can figure out what to decrease, cut or change to save money.

budgeting tools

If you have never budgeted before or you need a little bit if help checkout our Budget Binder for all the information you need. Dave Ramsey is also a great resource in debt reduction and budgeting.

saving money

Through the ups and downs, joys and lessons of raising a family you can save money, in fact a lot of money if you spend wisely. Below you will find some amazing money saving tips to help you.

simple ways to save money

The best ways to save money are simple changes you can make to your daily activities. Things that you can implement today to get get big results. Setting up a budget is a great example. Meal planning and shopping with coupons or with money saving apps are great ways to save cash everyday,

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21 Smart Ways To Save Money While Raising A Family:

Set a budget for groceries, activities and clothes
Get your kids involved in cooking meals and packing lunches
Keep track and use items you have
Be organized – you have more toys and art supplies than you think
Use free resources like the library and online classes and activities
Take part in free crafting events
Communicate with your children about money and what you can afford
Shop the thrift store for clothing, books, accessories and crafts
Have a clothing swap with friends
Learn to say “no”
Learn what is financially sustainable for your family
Stop trying to keep up with the neighbors
Shop the dollar store for activities, toys and other items
Limit to one paid activity per child and make sure it works with your budget and time
Network with other parents regarding supplies, rides and childcare
Set up an allowance system
Set goals for your money
Limit the gifts to needed items and maybe one wanted item
Teach your children to save, donate and spend their money wisely
Plan a staycation instead of a shiny vacation with airfare and hotels
Turn off the devices, get outside and play

Saving big money while raising kids

Coming from a large extended family some of the best ways I have learned to save money while raising a family are as follows. Hand me downs and shopping thrift is great.

Learning how to knit, sew and crochet all will come in handy when raising a family. Don’t be afraid to volunteer for sports teams and community events it will save you tons of enrollment fees.

Camping can be some of the best vacations and you don’t even have to leave the backyard. Get the family involved in the cooking, cleaning and budgeting they are all great skills to have.

Purchase a size right for you home, one that works for your family’s needs. There is nothing wrong with sharing a room or sharing toys. Value what you have, enjoy what life sends your way and save for the future.

Updated July 1, 2020