There are various ways on how to save money while raising kids, which are discussed in this post. It’s no secret that raising kids is an EXPENSIVE journey. Whether you’re annual household income is $30,000, $60,000, or $150,000, the cost of providing for your children is going to affect your financial situation. However, there are so many ways on how to save money when you have kids.
How to Save Money while Raising Kids
I’ve met families with household incomes of $150,000 and they live paycheck to paycheck. I’ve also met families with household incomes of $60,000 and they manage to know how to save money at the end of the month. Money is finite, regardless of how much your income is.
Therefore, using various strategies on how to save money for your household is extremely important to make sure you remain financially stable.
In this article, I’ve included advice from various bloggers, who were generous enough to share what has helped them on how to save money while raising a family.
“Best advice – Get your husband on board. We never started saving at this rate until we both were on the same page and had aligned our future goals.” 🙂
Maria can be found at https://literallysimple.com
“Use your crock pot! I made 10 meals for $100 and it saved me time + money!”
Sarah can be found at https://shavercrew.com/
Joanna Essells May:
“I LOVE Ibotta! If you’re not picky about brands and only buy the brands that have rebates when it will actually save you money, you can get serious cash back. Plus, they offer some really good bonuses throughout the year!” 😀
Joanna can be found at https://mayvirtualassists.com/
Rebecca Brantley Toon:
“Name brand isn’t a must. Just because it’s a name brand item doesn’t necessarily mean it’s better. Sometimes you can pay half as much for something by buying the store brand.”
Rebecca can be found at https://homeschoolontheranch.com/
“Need a cheap date night? Sign up for redbox emails! They have 1.25 off a rental basically every weekend, making your movie night in cost exactly 50 cents!” 💕
Victoria can be found at https://www.lovehaightblog.com/
“Find as many ways to repurpose and recycle every day items so that you don’t have to spend money on buying them! You can find Facebook Groups in your neighborhood that offer free used goods. If you are having trouble locating one check out The Buy Nothing Project to find a group near you.
Kids clothing gets expensive as well, so why not find a Mom Facebook group that trades hand me downs? If you don’t have one, then it is the perfect time to start one. The mom’s in your neighborhood will love you and you will save a ton next school year.
If you aren’t sure how to get people to join start with your own friends or look up your local city or county’s Facebook page and invite people to join there!”
Natalie can be found at http://www.mydaydreambookkeeping.com/
“Avoiding common household toxins is key to living a healthy lifestyle. My best tips for saving money while living a healthy lifestyle are to visit sites that match coupons with existing grocery store deals like http://allnaturalsavings.com/.
I love apps such as Ibotta where you can earn cash back on items from the grocery store, Amazon, clothing stores and more. I love to save money and the environment by buying consigned clothing. These are clothes that are ‘gently used’, still in great condition and you can get them at a fraction of the price.
My absolute favorite website to shop for consigned clothes for myself and my daughter is ThredUp. I love being able to get clean meat delivered right to my door with Butcher Box. You can pick which type of meat you’d like in your box and pick your delivery frequency. Meal planning is extremely important for saving money, saving stress, and eating healthy.
Real Plans is a totally customizable done-for-you meal planning site. You pick the type of diet your family eats, choose what meals you want planned and done! You get the plan, recipes, grocery list and a free app to take it all to the store with you!”
Bri is a wife, mom, Registered Nurse and Certified Integrative Nutrition Health Coach. Bri suffered from anxiety, depression, migraines, infertility, hair loss, fatigue, brain fog and more until she discovered that her body was overloaded with toxins. As she began eliminating common toxins from her food, skin care, cleaning products, and cookware she noticed a significant improvement in her health.
This drove her to continue making healthy lifestyle transformations and became her passion. She uses that passion and drive to guide mom’s through the overwhelm of eliminating common household toxins so that she and her family can experience true health and wellness. Bri can be found at http://www.hippiedippiemom.com
“Don’t buy 100-Calorie Packs. I know it’s tempting because they’re just the right size and they’re convenient, but they are much more expensive; up to 4 times as much! You can buy a regular box of crackers, pretzels, chips, etc. and portion out the amount yourself. You can make enough for the whole week in a short amount of time.”
About Me: I help moms eat healthy while saving time and money. I love sharing frugal and healthy tips and tricks to help busy moms have more time to spend with their families. You can either link to my blog: brendalovessharing.com/ or my freebie opt-in: brendalovessharing.com/free-family-meals/
“The best way to save money for your household is to start a gift closet! When you see a toy or candles on clearance, go ahead and get it! Stick it in a closet, and when you get invited to a baby shower or birthday party, you can just go shopping in your own home!
We do this for frequently, and we often are finished with birthday or Christmas shopping months before the actual event. Even if you don’t have kids at home anymore, that pack of Play-doh would be a great donation item for a toy drive during the holidays.
Bio: Tiffany Thomas is a former math teacher and SAHM who loves finding good deals! She and her husband, who is an engineer, work together on The Crazy Shopping Cart. They enjoy spending time with their family, geeking out over sci-fi together, and saving money. Tiffany can be found at http://www.thecrazyshoppingcart.com
In addition to everyone’s advice above, I’ve also included saving tips of my own that have helped me save money for my family.
The $5 Meal Plan
Food is one of the largest expenses a family can have. The $5 Meal Plan is a weekly meal plan service that costs only $5 a month. Every month, they send you a meal plan where every meal costs about $2 or less per person. If you ask me, that’s a great deal with a lot of potential savings!
Automate your finances
This is perhaps one of the most important strategies I used on how to save money that helped my household finances. I set aside a small percentage of my paycheck every 2 weeks to automatically go into a savings account. I don’t see the money in my take-home amount, so I can’t spend it.
This forces me to budget with my take-home pay. When an unexpected expense comes up, I’m able to use money from this savings account. A few weeks ago, my car required repairs and I was able to use money I saved up from this account.
This prevented me from charging my credit card or needing to borrow money elsewhere.
Consider a preschool co-op
Preschool costs have also gone up quite a bit in the last few years. If you are looking to enroll your child in preschool, consider a co-op. As a parent, you contribute some of your time to participate in the classroom, but the preschool fees are cheaper compared to non-co-op preschools. You also get a chance to see and participate in your child’s social and learning environment.
Get creative with childcare
Childcare is one of those high-cost expenses for your household if you don’t have a family member or loved one who’s able to provide childcare at no cost. If you’re looking to cut down costs of childcare, consider doing a nanny share.
You would share a nanny with your friends and/or neighbors, who ideally live close or somewhat close to you. I’ve had friends try nanny shares and they love the fact that they pay less. Although the overall rates for the nanny are higher, the parents end up paying less since they split the rates with other families.
Use Flexible Spending Accounts
If you or your spouse work for an employer, check with the Human Resources Department to see if they offer flexible spending accounts. Flexible spending accounts (also known as FSA’s) are accounts you put money into that you use to pay for healthcare or dependent care costs. You set aside pre-tax dollars to pay for these costs, so you save more money in the end.
Yes, it’s true that raising kids can be quite expensive. However, consider using some of these tips on how to save money in this article and you can end up saving more money for your family than you expected.
*There are affiliate links in this post, which mean that I receive a small commission for any purchases made, at no extra cost to the buyer.