Worried about extra expenditure on your preschooler toddler? Here are some tips you can follow to spend less and save more on your child.
Parenting is not easy. You, not only bring a baby home from the hospital but a bunch of responsibilities too. As the baby grows, your expenses increase in the same proportion. If you are a parent of a preschooler (3-6 years), you may have noticed that the above-stated fact holds true. Your child has started speaking and therefore voicing his/her demands clearly. Eventually, it becomes difficult for you to fulfill all such demands given your set monthly budget. So what do you do?
Let’s empower you with a few tips and tricks you can use to save money while raising a preschooler.
- Learn To Say No
Yes, you love your child a lot and want to provide them with everything they ask for. But, it is very rare that a child will put forth rational demands. It is very important, then, to learn to say ‘no’ every now and then. Spending money on every new toy may seem an expression of love for your child but is also a bummer when it comes to saving for their future. When you learn to say ‘no’ to your toddler, you must also be able to say it to yourself while overspending.
- Pre-plan Grocery Shopping
First things first, as far as you can, avoid taking your preschooler to grocery shopping. When kids see so many things around them, they will plead you to buy them and it is very difficult to say ‘no’ to everything that they demand at a grocery shop. Also, you must always shop with a list. This way you can avoid being lured by unnecessary stuff which you would otherwise buy.
- Avoid Buying Clothes In Advance
Your toddler is at an age where he/she is rapidly growing. You may buy clothes on sale during summers for winters, only to realize that your toddler has grown up to not fit in those clothes by the time winters arrive. Buying oversized clothes may seem a good option but it will only make your child look shabby initially and when the clothes would fit him/her, they would be old and worn out. You should, therefore, avoid buying clothes in advance.
- Buy Multipurpose Furniture
When it comes to buying oversized stuff, the one thing that will be profitable is an oversized crib which can later be used as a separate bed until your child grows too tall for it. A crib which is easy to dismantle partially works great and can be converted into a couch later on. Buying multipurpose furniture can, therefore, help save you a lot, thereby protecting your pocket.
- Befriend Hand-Me-Downs
Hand-me-downs from your friends can actually prove to be your best friends. Create a hand-me-down club to share kids clothing with your friends and relatives. This, not only saves on the spending on clothes every month but also gives your washing machine a break from working continuously to wash the limited amount of clothes you can afford to buy for your kid.
- Find Free Fun Stuff
You need not get to the movies or theme parks every weekend. Try to teach your kids how to have fun without spending thousands in one weekend. You can always go to nearby parks and play all sorts of outdoor games. There are a lot of parks which have free entry and are also equipped with a lot of swing sets. You can also plan to watch their favorite cartoon movie at the comfort of your home.
- Plan Effective Monthly Budget
Last but definitely not the least, you should plan your monthly budget on the very 1st day of every month. Setting a target for saving and a limit for spending money, especially on your preschooler will help you filter luxury items from the ones that are necessary for your child.
While budgeting and intelligent allocation of your finances, you must not forget that children, as young as preschoolers, have the capacity to understand your actions. It is then important to make sure that whatever you do, to spend less and save more, you must not let it affect your child adversely, such that they don’t get the idea of you not caring enough about their needs.