Let’s face it; kids can cost us parents a lot of money. In between school supplies, extra-curricular activities, and every day events, our wallets are eaten up fairly fast. Our kids are constantly needing new clothing, new toys, and of course, the latest electronics. Here are some ideas as to how we can cut back on these costs.
Invest In Long-Lasting Outdoor Play Items
One thing I have learned as a parent is that it is worth it to invest in a brand-new bike that is going to last for quite some time. While it may seem tempted to pick up something used and cheap, it is worth it to invest a bit here. The best thing we can do for our children is to give them as much outdoor playtime as possible. Bikes, scooters, skateboards, and rollerblades are all great for young children through adolescents. While that new video game may get old after a few weeks, a nice, sturdy bike should last your child a good few years.
Choose One Extra-curricular Activity at a Time
Parents these days seem to think that their children need to participate in anything and everything. It is easy to fill up our kids’ schedules with multiple sports, clubs, and other activities. The more we obligate to, the more we are driving around and using up gas, and paying for uniforms/other necessary supplies. Why not teach your child to focus on one particular hobby at a time? Children are already learning to multi-task so much these days. Signing up for one sport per year and one camp per summer is ideal. After all, childhood flies by so fast. We need to remind ourselves as parents that it is certainly okay for children to be bored since boredom, in fact, inspires creativity.
Find Items Around the House to Use and Reuse
Save popsicle sticks, toilet paper rolls, and paper scraps for your young children to use for art. Old magazines work great as well, as children love to cut out pictures and glue them on a page. Buttons, seashells, or small flowers can also be fun for children to use. By teaching your children to use what is around them, you are stretching their creativity, while also stretching your wallet.
Teach Your Children How to Save Money
It is never too early to teach your children the art of investment. When taking your kids grocery shopping, tell them your proposed budget. If they are old enough, have them hold a calculator and plug in numbers to help keep track of your spending. The more children learn the value of money, the more careful they will learn to be with it in the long-run. After all, children are like sponges — they do, and repeat as they see. Giving your child a small allowance every week for doing chores also helps them to appreciate the value of hard work. Teaching them to save up to real a goal — such as buying that new Lego set, will help them learn important skills in savings.
Today, children are bombarded with plenty of advertisements about the newest movies, toys, and video games. As parents, we may feel obligated to give in and purchase these items for our kids, as a way to help them relate to their peers. We must step back and see what we are truly doing though, which is teaching our children poor spending habits. By stepping back to watch our own spending habits, we can in turn teach our children healthy spending habits as well.