From the moment you first find out you’re pregnant and that initial flush of joy fades, all moms-to-be find themselves asking the same question, “How am I EVER going to be able to afford this?” The good news is that nobody’s ever ready for the trials (and joys) of parenthood; and while of course some expectant parents are financially better off than others, it’s worth remembering that parents of all kinds of incomes have been getting by for as long as the human race has been around. That said, there’s no denying that a child can put pressure on your domestic finances. With the average cost of raising a child to the age of 17 approaching $240,000 , it’s enough to make any parent-in-waiting balk.
The good news is that the cost of parenthood can largely be ameliorated by a combination of ingenuity, thrift, invention, and common sense. While the default setting for many new parents is always “worry”, cutting financial costs is one of the many ways in which moms and dads can make life easier for themselves. Here are some tips to help you get started:
Never replace when you can repair
We live in a culture of disposability, where the pervasive logic is that when something breaks, it should be replaced rather than repaired. This is a shame because with a wealth of knowledge available to new parents through digital means, you can learn to fix just about anything from torn clothes to broken toys. While kids grow out of clothes quickly, you can learn to make alterations that can significantly expand their lifetime, and it’s worth looking into different types of embroidery machines. At a younger age, when kids grow emotionally attached to their clothes yet haven’t learned to be fashion snobs, this is particularly useful.
Plan your meals and batch cook
Whether you’re a parent or not, one of the surest ways to waste money is over-reliance on takeout and restaurants. Sure, everyone loves a treat after a hard day’s work, but a home cooked meal can rival anything bought at a restaurant at a tiny fraction of the cost. You can make a family night in just as special with candles and music without paying ludicrous restaurant prices.
You can also make substantial savings at the supermarket by shopping smart and avoiding impulse purchases. You can plan your week’s meals and shop accordingly, plus save time and effort by cooking in batches and making a bolognese or curry sauce, chili, or lasagna that will last the family for several meals. Reducing meat and dairy and upping the veggies will ensure that your weekly shop lasts longer, too.
Get creative with vacations
Family vacations are often perceived as way more expensive than they need to be. A great family vacation requires only three things; fun, family, and love. Everything else is bells and whistles. Taking a road trip not only saves on expensive flights, but allows your family much more freedom and control over your vacation, reducing the risk of stress and things that can go wrong.
Mom and son photo at the top of the post found here.