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
© 2010 Stacey Bradford
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Money Saving Tips: Pregnancy and Baby’s First Year
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)
© 2010 Stacey Bradford
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Money Saving Tips: Pregnancy and Baby’s First Year
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
© 2010 Stacey Bradford
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Money Saving Tips: Pregnancy and Baby’s First Year
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.
© 2010 Stacey Bradford
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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
© 2010 Stacey Bradford
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Money Saving Tips: Toddler Years
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
© 2010 Stacey Bradford
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Money Saving Tips: Toddler Years
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
© 2010 Stacey Bradford
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Money Saving Tips: Toddler Years
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.
© 2010 Stacey Bradford
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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
© 2010 Stacey Bradford
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Money Saving Tips: Elementary School Years
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
© 2010 Stacey Bradford
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Money Saving Tips: Elementary School Years
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
© 2010 Stacey Bradford
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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]
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