1 money saving tips for every stage of childhood stacey bradford author, the wall street journal,...

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Money Saving Tips forEvery Stage of Childhood

Stacey BradfordAuthor, The Wall Street Journal, Financial Guidebook for New ParentsFamily Finance Blogger, CBS MoneyWatchJuly 21, 2010

© 2010 Stacey Bradford

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Kids are Expensive

The average family spends $11,650 to $13,530 raising their child during his first year

By the time that child reaches 18, parents will spend upwards of $280,000

A second kid simply doubles your expenses since there are few economies of scale

Source: U.S. Department of Agriculture© 2010 Stacey Bradford

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The Parent Trap

If you aren’t careful, you could end up spending a lot more than government estimates

New parents spend $6,000 on infant gear alone*

Spend freely throughout childhood and you’ll wonder why the college fund seems so skimpy

*Source: Baby Bargains© 2010 Stacey Bradford

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Money Saving Tips: Pregnancy and Baby’s First Year

1. Don’t Forget to Register Savings: hundreds of dollars

2. Borrow Baby Gear from FriendsSavings: $40 to several hundred dollars

3. Buy Used Baby GearSavings: 50% or more


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4. Snag Formula from Your Pediatrician

Savings: $50 or more

5. Avoid Unnecessary StuffSavings: $20+ per item

6. Clip (and Use) Coupons

Savings: $60+ (if you’re vigilant)


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7. Buy Generic ProductsSavings: 25 to 50%

8. Buy items in BulkSavings: at least 10%

9. Start a Babysitting Swap with FriendsSavings: $10+ an hour


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10. Schedule More Playdates

Savings: up to $40 a session

When Should You Skimp or Splurge?

Skimp on a stroller and a high chair.

Splurge on a car seat and a breast pump.


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Money Saving Tips: Toddler Years

1. Delay PreschoolSavings: thousands

2. Rotate Your Kids’ Toys

Savings: $10+ per toy

3. Make Your Own Toys

Savings: $10+ per toy


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4. Shop the SalesSavings: 20 to 50%

5. Attend Free Readings and Other Events

Savings: $20+ per week

6. Don’t Wait Too Long to Potty-Train

Savings: nearly $20 per week


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7. Don’t Buy Toddler Foods

Savings: up to 50%

8. Accept Hand-Me-Downs

Savings: $10 to 15 per item

9. Consider Consignment Shops

Savings: 50% or more


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10. Restaurants: Kids-Eat-Free Night

Savings: $10+ per meal

When should you skimp or splurge?Skimp on a toddler bed and bike helmet.

Splurge on organic foods and classic toys.


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Money Saving Tips: Elementary School Years

1. Don’t Overschedule Your Child

Savings: $200+ per season

2. Gymnastics? Ask for Sibling Discounts

Savings: $10 to 15 per session

3. Buy the Smallest School Picture Package

Savings: $20 per photo session


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4. Cell Phones: Get a Family PlanSavings: $30+ per month

5. Go for Semiprivate Lessons

Savings: up to 50%

6. Pack Lunch

Savings: 25% or more


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7. Bring Snacks…Everywhere

Savings: $2+ per snack

8. Implement an Allowance

Savings: as much as you budget

9. Share a Hotel RoomSavings: $150+ per night


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The information contained herein represents the opinions of the presenter and does not necessarily reflect the opinions of MetLife. All content herein is the express property of Stacey Bradford and may not be copied, replicated, or disseminated without the express written consent of the author.

© 2010 Stacey Bradford L0710119669[exp0711][All States]

1 money saving tips for every stage of childhood stacey bradford author, the wall street journal,...

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