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Kid friendly budgets


However, our treasure chest of 5 quick tips on how to save money with kids will come to your rescue.

1.       Shop Smartly

Browse and budget in detail when it comes to shopping – be it grocery or clothes, make sure that you shop smart and save up on unnecessary indulgences. Having children can make you an impulsive buyer, worse still they might have a huge impact on what brand you pick – but you have to be certain that the final decision is made by you.

2.       Fuel Conservation

Having kids around, means games consoles, TVs and lights left on, extra air conditioning and more!

Even small families can face huge fuel bills, leaving many worrying about how to save money.

Little do they know that a lot can be saved if only we had the smartness to change and be optimal with our fuel options.

3.       Entertainment Alternatives

Taking the family to movies every weekend or to the mall can turn out to be expensive!

Make sure that you include Museums, and visits to the Zoo or the park on the list. It’s not only easy on your pocket but it also makes sure that entertainment becomes educational to your children.                                     

4.       Proper Family Budget

Like we insist in all of our posts, make sure that you include your children while you budget. Making sure that they know the family income and expenses will make it easier for you in the end.

5.       Insurance and Wills

Life insurance is well worth considering if you've got kids.  Level term life assurance is one of the cheapest ways to protect your family's income if you die, because it will pay a fixed amount to your dependants.

If you've assets such as savings or a house, and others you'd like to look after, consider making a will. Although it’s a sobering question, it’s always better to be ready with an answer to, ‘If you die, what'd happen to your kids?’

 

WRITTEN BY:   BALAKARTHIGA. M

READ ALSO:  MAKING YOUR CHILDREN FINANCIALLY INTELLIGENT