How to Cut Costs, Even With Children Around
If you belong to the DINK (double income, no kids for those in the dark) category, you’re likely to be envied by those parents with kids who’re trying really hard to provide a good life for themselves and their offspring. It’s an uphill task, no doubt, one that’s not made any easier with the rising cost of anything and everything that’s necessary for life. But there are ways to cut costs and save money, even with kids around, if you’re really willing to make the effort. Here’s what you need to do when you’re trying to manage kids, money and a household, and still come out with your sanity intact at the end of the day:
- Talk to your kids about money: You need to get the message across about the importance of being frugal, about why they can’t have everything they want, especially if you’re a single parent or if both you and your spouse are working really hard and still finding it difficult to make ends meet. It is going to be hard, but you must remember that it’s never too early to start educating your children about the value of money and the necessity to save and put aside something for a rainy day. Most importantly, you need to make them understand that credit cards are not magic wands that can be waved as and when you need money, and that they’re in fact tricky objects that need to be used with care if you don’t want to find yourself neck-deep in debt.
- Lead by example: Your kids are not going to heed the “we need to cut down on expenses” pep talk if you go around using your credit card in an irresponsible manner and splurging on salon visits, new clothes, shoes or anything else that’s not food or basic necessities. You need to show your children the way to live, you need to lead by example to get the to develop healthy money habits from the time they’re old enough to understand that it doesn’t grow on trees and that they cannot have all that their heart desires.
- Encourage healthy and inexpensive hobbies: Get your kids to spend their free time usefully and in a way that does not cost money – instead of hanging out at the mall with their friends and spending money on movies and snacks, they could all watch a DVD at home with homemade eatables and healthier drinks; or they could spend time at the library checking out books that they like; they could also take up a sport that helps them keep fit and allows them to bond with friends; and they could make presents for friends and relatives instead of buying them during Christmas and birthdays.
- Teach them to be responsible for themselves: Once your kids are old enough, encourage them to find part-time jobs that allow them to earn money after school and on weekends. Not only do they get to spend their free time in a useful manner, they also learn the value of money more quickly and are less reluctant to spend it when it comes out of their own pockets.
This post was contributed by Courtney Phillips, who writes about the best university for accounting. She welcomes your feedback at CourtneyPhillips80 at gmail.com
related posts:
- Measuring the Cost of Children Recently, I have again been reading articles discussing the extraordinary...
- Traveling With Children A few days ago our 19 year old came home...
- Chicken, Tuna, Spam and Measuring Costs We've been discussing food slumming and how people mistakenly assume...
- Out of the Box Birthdays We have a birthday today. Birthday Child saw the start...
- Are you teaching frugality or just being broke? Pc3 is the husband of KimC and the father of...
One Response to “How to Cut Costs, Even With Children Around”
March 18th, 2009 at 8:58 pm
That sounds really helpful to help children learn about money! I’ll definitely share some of those with my son as he grows up (he’s 5 months old) and his future siblings!!
100% FREE Samples and Freebies
Leave a Comment