Even though we truly love our kids, it can be quite expensive to raise children. From toys, clothes, books, medical care, technology, education and much more. As parents, we want to provide and do the most for them as we can. This article will help and encourage you to provide for your children and keep them happy as well as give you some excellent tips on how to save money as a ‘frugal’ parent. What every parent must know is that you don’t need money to be a great mother or father.
10 Money Saving Tips for Frugal Parents
Whenever you need to buy something, you can most likely find a discount on the product-especially children’s products. Be sure to keep an eye out for discounts and be patient before you decide to buy anything. Even if you can’t find the product you want at a discounted price, nowadays, with the help of the internet, if you purchase products online, it’s most likely that it will be cheaper than in a store. Even though it’s a couple of dollars, every cent counts!
2. Buying in Bulk
An effortless and fantastic way to save some money is to buy in bulk. Crystal Paine, the author of the book ‘Money Saving Mom’, stated that a parent could save over $1,000 a year if they buy in bulk.
3. Second-Hand Products
It may seem uncool for your child, or some may even take it as disrespect, but buying in a second-hand store is perfectly fine! Especially as your child is growing, they’ll usually grow out of their toys and clothes. With common sense, you can make wise decisions on whether it is worth buying anything brand new, because it may be too small very soon.
Haircuts nowadays can be and are very expensive, even for children. Most boy’s hair grows fast, and they will usually need a haircut biweekly or so; but as a frugal parent, you can’t afford to spend at least $10 per haircut, so, cut it yourself! All it takes is scissors, a comb, and some time. You don’t have to be a pro to cut your kid’s hair, and as most kids don’t care about how their hairstyle is, your job is even easier. All you have to do is shorten their hair a bit, and you’ll be fine.
Eating is a significant and critical factor. We must feed our children tasty, healthy food and show them the right pathway. So, because a McDonald’s meal might be cheap, that doesn’t mean you should feed them McDonald’s thinking you are saving money because, in the long run, you are not. Feeding your kids doesn’t have to be expensive. Spend your money on food wisely and buy in bulk. You can also save more money by not eating in restaurants.
6. Finance Routine
As a parent, you should have a good routine that will improve your child’s life and manage your time wisely. A great routine every parent should make is a finance method; this means to take some time to sort out your personal loans and go over your finances. The more you pay attention to your spending and become more frugal, the more money you will save.
Do what it takes for you to save money! Use loose change, credit cards, tax-free shopping and more. To save money, you must save money. It’s a simple concept yet people find it tough. You must earn more than you spend, this means you can’t get paid and then waste all of your money. You must always put away some money and get into the habit of saving, even if it’s only a few dollars a day!
8. Children’s Habits
Get your kids into good habits, such as: turning off the water while they’re brushing teeth, switch off lights in empty rooms, not to wash their clothes every time they wear them and so on. By doing this, your child will not only have healthy habits in life, but they will help you to save money and be a considerate child towards you.
9. Having inexpensive fun
Having a good time doesn’t have to mean going out and spending loads of money. As long as you’re creative and entertaining by doing things such as going to the park, playing games at home and having fun without spending too much money, you’ll have great memories and a great time with your child. You’ll not only save some money, but it’s also an excellent life lesson for your child as they will know that you don’t have to have much money to have fun & be happy in life.
10. Use Cash
Leave your cards at home and take enough cash for daily spending. If you take your card everywhere you go, it’s easier to swipe your card than it is to give money. Paying with cash is a very productive habit that every parent must practice. You should take full control of how much you are willing to and can spend, and you should always stick with your plan.
Make plans, stay true to yourself, your spending and be a fun, loving parent. You must know that you don’t have to have much money to be a good parent. You need to be dedicated, smart and creative. Make sure to give your kids enough time, as well as make time for yourself and spend some time of your day sorting out your finances and other work that is important for you.