For those of you who have children, you might be shocked at how much money you will spend on them over a lifetime. It cost approximately $300,000 to raise a child to 18. That is a staggering number. So what options do you have for saving money? Here are a few suggestions:
1. Buy used- I shop at garage sales and I am proud of it. When kids are very little, there is no sense in paying $8 or $9 or more on an outfit that they might only wear twice. So scope out the high end areas in your neck of the woods, look for garage sale ads on craigslist and hit up the sales. You can get great gear for a fraction of the price. My only suggestion is to be on the hunt for stains. In my experience, I have purchased clothes from sales only to get home and see stains. Garages hide light, so when it doubt, hold it up to the light. Also make an offer on something. Many people have no desire to box up their stuff that didn't sale so make an offer if the price is too high.
2. Borrow and borrow- Is there a co-worker at work who has an older child or a relative who can give you hand me downs? Kids are not always excited about hand me downs but us parents sure are.
3. Make your own baby food- if you have a blender, you already have the investment taken care of. I purchased the BabyPro Baby cooker. It steams and purees in one. Making your own baby food does not require any additional purchases. If you buy veggies and fruits for yourself, set aside small amounts for your baby. Freeze food in 1 oz servings and just warm up the food. Having smaller serving sizes will ensure that your baby does not waste any food.
4. Compounded interest- the sooner you start to save for your child's future, the more likely you will have a good chunck available when they are ready. You can set aside a small amount per month and take advantage of compounding interest.
Need more tips or want to share more tips? Email me betterbudgets@gmail.com
Tuesday, June 15, 2010
Wednesday, June 2, 2010
Wedding saving tips
Are you planning your wedding? Shocked by how expensive everything is? On average, most couples spend around $20,000 on their wedding. Now, unless you are going to be on the show platinum weddings anytime soon, you might need some help.
1. Perhaps the most important thing to consider is wedding size. The more people you invite, the bigger the cost. Remember that 4th grade teacher that made such an impact in your life and you haven't seen them in 20 years? You don't need to invite them to your wedding. Most couples feel obligated to invite distant relatives and old friends of their parents. Remember that this is your wedding and if you are footing the bill, you decide who comes. Check into nice local restaurants with private dining rooms. A lot of restaurants will not charge a room rental fee when you have your reception there.
2. Cake- Sheet cake, sheet cake, sheet cake. Having a tiered cake may be very important, however, you can usually pay 50% less if you do a sheet cake. Also consider having a local college culinary class do your cake for you. They can be very skilled in cake making and you can purchase a cake from them for a fraction of the cost.
3. Invitations- For those couples who work full time, check into your company's printing services area. Many bigger companies will print the invitations for you if you design them yourself. Or, send out an evite and save some trees.
4. Flowers- Purchase your flowers at your local farmers market. In the summer months you can get some really colorful flowers for cheap.
A lot of cheaper wedding tips come from you doing some of the legwork yourself. Questions or want more tips? Email me betterbudgets@gmail.com
1. Perhaps the most important thing to consider is wedding size. The more people you invite, the bigger the cost. Remember that 4th grade teacher that made such an impact in your life and you haven't seen them in 20 years? You don't need to invite them to your wedding. Most couples feel obligated to invite distant relatives and old friends of their parents. Remember that this is your wedding and if you are footing the bill, you decide who comes. Check into nice local restaurants with private dining rooms. A lot of restaurants will not charge a room rental fee when you have your reception there.
2. Cake- Sheet cake, sheet cake, sheet cake. Having a tiered cake may be very important, however, you can usually pay 50% less if you do a sheet cake. Also consider having a local college culinary class do your cake for you. They can be very skilled in cake making and you can purchase a cake from them for a fraction of the cost.
3. Invitations- For those couples who work full time, check into your company's printing services area. Many bigger companies will print the invitations for you if you design them yourself. Or, send out an evite and save some trees.
4. Flowers- Purchase your flowers at your local farmers market. In the summer months you can get some really colorful flowers for cheap.
A lot of cheaper wedding tips come from you doing some of the legwork yourself. Questions or want more tips? Email me betterbudgets@gmail.com
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