How Can You Make Raising a Child More Affordable?
August 25, 2022
Look at the news, and you will see constant stories about rising costs of living. Food is more expensive, as are liquids. So, too, are daily goods we need such as groceries, toiletries, and even our energy bills are skyrocketing. Everything is dearer today than it was a few years ago – $20 has never felt as minuscule an amount as it does today.
If you are a parent, the rising cost of living can make your life much more challenging than it has to be. How can you reduce costs efficiently?
Look to your social network for child care support
If you are lucky enough to have parents or retirement-age people in your life who you trust, they can assist with child care. In modern families, both parents tend to work – yet it can often be the majority of your wage that is going missing simply paying off child care!
If you can, find people in your social network who can assist with taking your children where you work.
Find a property in the best possible location
From taking your kids to school to attending social and community functions, you can find that your costs are rising due to having to travel so much. While it might not be possible, finding a property that is equidistant to your work, schools, stores, and social activities can reduce your daily costs.
Avoid falling into brand traps
A challenge many parents find is they feed their children the ‘good stuff’ – i.e. big name, expensive brands – when, in reality, many own brands and alternative brands can be every bit as enjoyable to a child. You can find that your grocery shopping bill can come down by hundreds of dollars per year simply by avoiding going for the expensive ‘big’ brands. Especially in early life, your child won’t notice the difference – but you will feel the difference in your bank balance each month.
Try working from home more often
If you can, you should look to pursue a work-from-home career. This means that you can spend more time helping your children at home, whilst still being able to bring in something. Many families are finding having a work-from-home career, even part-time, can be more economically viable than having two full-time careers and then having to shell out for childcare support.