• Home
  • About Us
  • Archives
  • Contact Us
  • Advertise
  • Privacy Policy

Kids Ain't Cheap

But They Sure Are Worth It

  • Home
  • Toolkit
  • Parenting
    • Baby Stuff
    • Books and Reading
      • Aesops Fables
      • Comic Books
    • Education
    • Family Time
    • Green Living
    • Growing Up
    • Healthy Living & Eating
    • Holidays
    • Parenting
    • Random Musings
    • Shopping
    • Stuff to Do
  • Money
  • Product Reviews
    • Books and Magazines
    • Discount Sites
    • Furniture
    • House Keeping
    • Reviews News
    • Toys and Games

How to Regulate the Amount You Spend on Your Kids…Because Kids Ain’t Cheap

July 20, 2013 | Leave a Comment

regulate kids spendingWe all know, kids ain’t cheap.  When you stare into your little bundle of joy’s face for the first time, you likely only feel amazement and awe.  You watch your child grow and develop and meet major milestones.  You delight in his first smile, laugh, and coo.

But then, you start noticing the expenses.  The diapers.  The formula.  The childcare.

It’s a good thing your baby’s so cute because he’s starting to cost you –big time.

Sound familiar?

First time parents are often shocked at how much an infant costs.  Guess what, folks–it doesn’t get any cheaper as they get older.  If you want to still be able to save money for your own retirement, make sure you regulate how much you spend on your kids!  The sooner you get a good plan together on how much you spend, the easier it will be later on when they are teenagers and asking for their own money to spend!

 

1. Remember, You Come First

Save for your own future first.  Sure, you want to give Junior everything, but save for your own retirement first.  You’re not being selfish.  Trust me, when Junior is 25, he’ll be glad he doesn’t need to help support mom and dad.  Plus, your kid can get student loans and other help to pay for expenses, but you can’t get a loan to fund your retirement.

 

2. An Emergency Fund is Essential

Keep a rainy day fund.  In addition to retirement savings, make sure to keep a rainy day fund.  You might want to look online for the best fixed rate bonds for some of the money that you’re setting aside for long-term goals.  For an emergency fund, you’ll want to have the money easily accessible.

 

3. Budget for the Big Stuff

Decide how much you’ll pay for major events.  While Junior’s still in diapers, long before he needs thousands of dollars for college, decide how much you’ll pay.  Maybe you want to pick up the whole tab for college.  Great.  You’ll need to plan accordingly.  Maybe you don’t want to pay anything; in that case you’ll need to let Junior know early so he can make his own college plans in high school, including how to pay.

 

4. Teach Your Child About Money

Teach your child to be financially independent.  The best way to regulate the amount of money you spend on your child is to teach him to be good with his money.  When he’s a teen or young adult, have him open a bank account.  Places like http://www.bmsavings.co.uk have some fantastic savings options.

With a little discipline and financially sound decisions, you can avoid bankruptcy while raising your child AND teach him how to be financially independent as he grows up.

How else can you regulate the amount you spend on your kids?

Brian
Brian

Brian is the founder of Kids Ain’t Cheap and is now sharing his journey through parenthood.

 
Email • Google + • Facebook • Twitter

Filed Under: Money and Finances Tagged With: Cheap, Good Plan, The Amount, Your Kids

  • Facebook
  • Pinterest
  • RSS
  • Twitter

Basic Principles Of Good Parenting

Here some basic principles for good parenting:

  1. What You Do Matters: Your kids are watching you. So, be purposeful about what you want to accomplish.
  2. You Can’t be Too Loving: Don’t replace love with material possessions, lowered expectations or leniency.
  3. Be Involved Your Kids Life: Arrange your priorities to focus on what your kid’s needs. Be there mentally and physically.
  4. Adapt Your Parenting: Children grow quickly, so keep pace with your child’s development.
  5. Establish and Set Rules: The rules you set for children will establish the rules they set for themselves later.  Avoid harsh discipline and be consistent.
  6. Explain Your Decisions: What is obvious to you may not be evident to your child. They don’t have the experience you do.
  7. Be Respectful To Your Child: How you treat your child is how they will treat others.  Be polite, respectful and make an effort to pay attention.
Best Parenting Blogs

Copyright © 2025 Runway Pro Theme by Viva la Violette