1. Managing Childrearing Expenses
Having kids is no joke, as the preceding paragraphs show. Then, of course,
having children also gives a certain degree of fulfillment and inspiration to
parents that money just cannot buy. These do not mean, though, that couples
should have or not have children on a whim. The financial and emotional
investments of having kids are huge and the stakes are high if you want to
raise them to grow up as responsible adults.
If you do decide to have kids or already have them, it’s important to learn how
to manage the expenses that come along with them. There are ways to save
on childcare that will not deprive your little angels of the necessary comforts of
life. Here are some ideas:
1. Breastfeeding is best for baby—and the budget. There are various
scientific studies that support the health benefits that mother’s milk gives to
baby (e.g. boosts immunity, prevents diseases, and provides complete
nutrition for the first six months). It also bonds the baby and the mother
emotionally. But as far as the budget is concerned, breastmilk is the ultimate
in zero costs. The mother naturally produces it after birth and there is no need
to buy it, unlike formulas. There is also less need to buy bottles and
sterilizers—unless you need to store your excess milk—further lessening
expenses.
2. Try finding second-hand baby furniture from friends and relatives to
save on costs. Perhaps they may even give it to your little one for free or for
a very cheap price. There are also good deals on these items that you can
find on eBay. Just make sure that you give it a very thorough cleaning before
you use them.
3. If you have more than one child, you can let them share rooms and
toys. This fosters sibling bonding while teaching them the valuable lesson of
sharing.
4. Buy in bulk. As your family grows, it is cheaper to buy groceries and staple
things that you need at home in larger quantities. This allows you to enjoy

2. discounts. Using coupons will also help you save on grocery expenses.
Cooking at home, minimizing restaurant dinners, and brown-bagging lunches
are also other ways to save on food costs.
5. If possible, put your children in one daycare center or school to save on
transportation expenses and tuition. Schools usually offer sibling discounts if
you enroll your kids with them.
6. Start saving for college. There are tax-advantaged accounts like
Coverdell Savings that allow you to start putting money away for your child’s
college costs.
7. Have a budget and stick to it. If you have not made and followed a budget
before, now would be the best time to start doing so. As the kids grow, you
are going to incur expenses left and right. Without a budget, it’s going to be
more difficult for you to pinpoint exactly where your money went.
8. Save before having a child. Children’s expenses start even before your
child is born. There are prenatal and labor expenses, for starters. You will find
yourself in a much stable financial footing if you pay for all your childcarerelated expenses for your child’s first year at least in cash. This way, you don’t
have to charge a lot to plastic and risk having too much debt.
Check out www.adamscapgroup.com for more Information on Ways to
Get Out of Debt.
Other related info you might be interested in:
How Necessary is an Annual Financial Physical?
What to Do with your Raise: Save or Invest Half of It!
Money Questions to Ask Before Tying the Knot