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Investing for Kids: How to Invest for Them | Investing 101 | US News

Having Children is one of the most rewarding and best things you will do in your life, it will probably be one of the most expensive things too. In 2020, the average cost of raising a child from birth to 18 is £75,436 for a couple and rises for a single parent to £102,627. It can be hard at times, and it can be even harder to try and save money for a bigger house, a renovation or even that bigger car you need to fit everyone in. There is always something to save up for, but when you have children it can seem impossible. In this article, we will go through some tips to help you save money whilst also raising your children the best way possible.

Buy Reusable Items

For the more eco-friendly parents, this should already be in place. Disposable items like paper towels, disposable bibs and nappies may save time cleaning up, but it certainly doesn’t help saving money. Why not replace disposable products with reusable ones and save money whilst reducing your carbon footprint. Yes, some areas will take some getting used to such as organic cotton nappies, but as soon as you get into a routine it will not feel like an effort. You will, however,  be counting how much you save whilst you clean. Using reusable bibs such as a coverall bib will last you much longer as they can just be hand-cleaned, they also provide a lot more protection meaning they won’t be soaked in spaghetti hoops.

Buy Entertainment For The Home, Rather Than Spending Money To Go Out

It is important to have quality time with the family, but you don’t need money to have fun. Course, the days of playing Curby isn’t recommended anymore, but it is always worth investing some money into some entertainment at home.  A projector for movies or a popcorn maker would be great for home movie nights or you could pick up some board games etc. There are so many ways in which a family can have fun in the comfort of their own home whilst saving a load of money, it’s just time to think outside the box and be creative.

Buy Secondhand Items

As a parent, we all know that it is a nightmare trying to get clothes to fit children, and then when we do find something to wear, it lasts the best part of a month and it is too small for them. There is absolutely no point paying a lot of money for expensive luxury brands. Your child will not wear it enough to make the most out of how much you have spent on it, as well as them probably getting a stain on it the first time they wear it.

The best way to save money whilst raising children is to buy secondhand clothing. Everyone has their preferences on what to buy new like baby washcloths and what to buy second hand. The truth is, if it has … Read More..