Cutting the Cost of Raising a Child
The latest figures show that is costs a little over $240,000 to raise a child from birth until they leave for college according to the U.S. Department of Agriculture. Maybe with that knowledge we can cut some of the costs of raising a child.
Child care and clothing are huge costs to families. So lets look at a few options to cut back.
Child Care-
Babysitting Swap or Co-op: Have a group of friends and or neighbors that will swap babysitting services...sort of a floating daycare. One person keeps all the kids on Monday, another on Tuesday, and another on Wednesday. You may have to coordinate a lot of schedules, but free daycare is worth it.
Hire a college student: If you live in a college town and you have a spare bedroom in your home, you could offer it to a college student in exchange for babysitting duties. This works really well for parents who work night shifts. The student gets free room (and maybe board) in exchange for being with your child overnight. Or if their class schedule matches closely with your work schedule they could babysit around their classes. This is a win/win situation for you and any student that needs a break on housing in order to go to school.
Working from home: Hire a “mother’s helper.” Maybe there is an 11 to 14 year old that might help you watch after the kids while you work in the next room or close by. They could be paid a much lower rate than teens are asking for babysitting these days.
Find a Retired Grandparent - who misses the grandchildren. Sometimes you can find an older person who just wants to give some love away and help supplement their retirement a little. This is a great option if you work part-time and just need someone to be with your children for a few hours a day.
Clothing-
Hold a Semi-Annual Clothing Swap: Twice a year (Summer and Winter or Spring and Fall) have all your friends with children bring all the out-grown clothing to one spot. It could be a home, a garage, a meeting place (any place you’d like), and swap for what you need. You can either swap for free or do garage sale pricing on all the clothing, that is up to you and your group.
Consignment Stores: If your clothing is in really good shape you can try to sell it at a consignment store or get credit as swap for clothing.
Sell Outgrown Clothing and buy clothing on Ebay or Craigslist.
Garage Sales are a great place to sell and to buy clothing.
Stop Buying Brand Names - Kids outgrow their clothing too fast to pay for brand names. Besides you are paying for the name and that doesn’t equal quality in many cases.
Thrift Stores such as Goodwill have great prices and some even have certain days when the clothing is “on sale.”
Check clearance racks at the end of each season for clothing for next year.
Get hand-me-downs from friends and relatives (what I grew up wearing).
Fix what you have and let down a hem. I know that is “old schoo,l, but it can save you a small fortune.
When children are small, buy clothing that is gender neutral so that boys or girls can wear it. This way if/when you have more children, you can pass the clothing down no matter if it’s a boy or girl. Get items such as onesies in yellows, greens or white, as opposed to pinks and blues. Jeans are usually gender neutral. You can also do the same with baby accessories such as strollers, cribs, swings, etc.
Hopefully this has given you a few ideas as to how to cut some costs and save some money.
Children don't have to cost a fortune after all!
♥
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PREVIOUS "FRUGAL SALLY" ARTICLES IN MACARONI KID : NEPHILLY-EMC
It's Human Nature to Pick the Easy Way -- June 21, 2013
Retailers Spend Billions to Outsmart You -- February 23, 2013
What Makes Me This Way -- May 11, 2012
Frugal Lessons Every Parent Should Teach Their Children -- May 18, 2012
What Would YOU Do For A Million Dollars? -- June 01, 2012
"Make It So" -- July 08, 2012
Lessons My Grandmother Taught Me -- October 05, 2012
My Resolutions -- December 30, 2012
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