When you first become a parent, you’ll be provided with a lot of advice. They’ll tell you how to make sure that they eat well. They’ll tell you how to check for the signs of bullying and how to make sure that your kids are happy. What they won’t tell you, what they’ll curiously avoid mentioning is the cost of having children. Kids are not cheap, they are a massive expense. Let’s take a look at holidays as an example. You might think that taking two kids on holiday simply doubles the cost. But it doesn’t. Instead, it probably triples the bill. You need to think about food and of course entertainment. Your kids may not be thrilled with the idea of a simple beach vacation. Kids don’t really understand minimalism. However, there are ways to stay on top of your finances when you’re a parent, and we’re going to show you how.
Careful With Credit
It can be tempting to use your credit card a little more when you have kids. With just one swipe you can pay for everything they need or everything they want. It’s hard to resist particularly when you want to give your kids everything. When Christmas comes around it can be difficult to explain that Santa can only fit little presents on his sleigh. Or, try telling them Santa doesn’t deliver puppies when one favourite movie shows that actually, he does. Still, buying everything on credit isn’t the answer. If you do this, you could find yourself looking at how to pay off debt fast. Instead, you should be budgeting through the month and over the total year. Do this, and you can avoid needing to borrow because hopefully, you’ll fit everything into your budget.
Check For Deals On Everything
We do mean everything. From holidays to toys to clothes to food, you will find deals on everything. It will make paying for your kids a lot easier, particularly once you get the hang of how to shop for bargains. Once again, it’s a key skill you need at Birthdays and Christmases when the difference in prices can literally be hundreds of dollars. One store might have the PS4 for 300 while another might be selling it for two with games. If you’re not looking for bargains and deals parenting is going to be a lot more difficult and a lot more expensive.
The Side Hustle Is On
If it isn’t, it should be. If you’re constantly squeezing pennies each month then, bad news, there isn’t enough money in your account to pay for the lifestyle you want for you and your kids. Good news – there are plenty of ways to change that. A favourite would be blogging, and as a parent, you’re in the perfect position to do this. Set up a blog, make it interesting, target the worn out moms and dads. Pretty soon you’ll be getting sponsors and promotions that monetize your blog. This can provide you with a nice extra cushion of cash that will be very useful indeed.