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5 Money Saving Tips For Parents

Having a child is a wonderful and expensive endeavour. The latest figures show that the average cost of raising a child to the age of 21 has now broken the £200,000 mark. The survey explained that parents are spending (on average) £9,610 a year to clothe, feed and educate each child. It’s a lot of money.

Instead of looking sadly at your wallet and thinking of all the fun things you can no longer do, try out these five tips that are guaranteed to save you money and cut back on expenses.

1. Second-hand baby
   Other than certain items, like mattresses and car seats, most baby essentials can be bought for a substantially lower price second hand. Look at getting clothes, furniture and other such extras from sites like eBay, Freecycle and Fo.lk. This is also a good way to get your school uniforms sorted out.
2. Deal hunter
   Whether you’re pregnant or already busy raising a child, look into buying items in bulk. Hunt down special offers through sites like PlayPennies and HotUKdeals, and get essentials whenever they are reduced or buy-one-get-one-free. This is also a good way to stock up on presents for the family and those pesky parties.
3. Switch and save
   This one is boring and tedious but does add up – get cheaper car insurance, gas and electricity by really looking into all the options. Also invest in plugs like the Energenie Standby that will automatically switch off anything that goes into standby. You’ll also save the planet.
4. Food Fetish
   Drawing up a weekly menu will save you money on your shopping. If you know exactly what you need you are less likely to buy things you don’t. You can also then shop wherever items are on special and use services like the Sainsbury’s "Feed Your Family For a Fiver" campaign.
5. Government Goodies
   Spend the time understanding exactly what your tax breaks are, what childcare support you are entitled to, the health in pregnancy grant, and whether your company does childcare vouchers. These benefits could save you a lot of money both in the long and short term.