Covering the Costs of Raising Kids
Children aren’t cheap. The average cost of raising a child to adulthood is reckoned to be more than £230,000! How can anyone afford that?
Fortunately, you can bring down these costs by being creative and resourceful. The children don’t have to miss out on opportunities either – simply by shopping around you can take advantage of deals and promotions and grants that make the whole process very affordable. Here are few methods every new mum should try.
Know your rights
There are all kinds of government schemes available to new mothers. Most companies have to pay out statutory maternity pay, depending on how much your income was beforehand. If you’ve gone down an adoption route meanwhile, you’ll still be entitled to statutory adoption pay.
You can start claiming various child benefits straight away. The first weeks of motherhood can be exhausting, but it’s good to get on this quickly – you may be eligible for multiple benefits and even a grant of up to £500 (although this is largely for those on a very low income).
Local charities set up for children may also be able to offer a grant if you need it. All of this can be handy in the first months of motherhood and prevent you having to return back to work prematurely just to pay the bills.
Don’t go overboard on baby clothing
Whilst the urge to dress up your newborn in all kinds of cute outfits is tempting, we all know that babies grow fast. Constantly buying new clothing is one of the biggest expenses of being a parent – and it continues all the way up to adolescence. Be frugal and only buy clothes that you’re going to get regular use out of. Dropping big hints to family members and friends around Christmas time and birthdays is a great way of getting those less practical pieces of clothing.
Shop second hand
There are all kinds of places to shop second-hand that could result in clothing or toys that’s just as good quality as brand new stuff but much cheaper. If your local charity shops are too limiting, try shopping online. Local social media buy and sell groups give you the chance to buy items cheap, as well as meet up in person with the seller. When buying online from other places, stick to reliable sites such as Preloved and always ensure a photo is provided (it’s also handy to ask about damage – whilst 90% of sellers are honest, some parents will try to flog off tat!).
Of course, you can also get second-hand clothes for free by accepting hand-me-downs and borrowing kit from friends and family such a baby bouncers and travel cots.
Lap up freebies
If you’ve had a baby in the last 12 months, it’s worth noting that you’re eligible for free dental treatment and NHS prescriptions. On top of this, other activities and services may be free to new mothers.
You can also get free gear and treats for children by signing up to places online (for free), filling out surveys and taking part of competitions. This site lets you know of all the freebie deals on the internet, and could save you a lot of money on small treats. As already states, getting the benefit of these freebies may involve signing up to all kinds of schemes, so it’s worth creating a new email address just to deal with all the subsequent spam.
Friends and family are also a great source of freebies. Hand-me-downs, home-made items and gifts can all come in handy, so accept these where you can. If you’re parents want to buy a buggy for you or pay some money towards living costs – you should jump at this chance. Similarly, a friend may offer to pay for a meal when out. Obviously, you shouldn’t scrounge off these friends and family, but if they offer help and are in a better financial position than you, don’t let your pride get in the way.
Look out for vouchers
Stores such as Sainsbury’s and Boots will often give away vouchers to parenting groups, newspapers and local companies, as well as offering loyalty cards in which you can build up points and eventually get discounts. Locating these deals can dramatically cut costs on shopping for the kids. There are all kinds of specific vouchers available which could save money on nappies, days out, food and clothing. Be careful not to buy into schemes simply for vouchers – if you have to pay for a loyalty card or coupons make sure that you’re going to get the most out of it.
