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How to Make Your Money Stretch Further When Raising Children
Raising children can be extremely expensive. From feeding and clothing them to paying for childcare, holidays and hobbies, the costs really add up. When money is tight, it can be stressful trying to make ends meet. Luckily, there are lots of ways to make your money stretch further as a parent.
Look for Free Activities
There are often free or cheap things you can do to entertain kids that won’t break the bank. Many museums, galleries, parks and national trust properties offer free entry for children. Check your local area for any free festivals, fairs or events happening. Libraries also run free activities and reading groups for kids. Join local Facebook groups to find free playgroups and classes. Swapping toys and books with other parents saves money too.
Shop Smart
If you are fostering, your foster care allowance will cover essentials like food in the same way as a salary would, but being savvy about where you shop makes a big difference. Buy own-brand items from supermarkets to get the lowest prices. Shop at discount supermarkets like Aldi and Lidl where possible. Use cashback sites and vouchers when ordering online for extra savings. Charity shops are great for cheap toys and clothes, especially as kids grow out of things so quickly. Look out for sales and deals when buying big items like new school uniforms.
Cook in Bulk
Cooking in bulk and freezing portions saves time and money. Buy family-sized packs of reduced meat and freeze what you don’t use immediately. Batch cook meals like stews, curries and pasta sauces and freeze them in portions. You’ll always have quick and healthy meals on hand for busy days. Making packed lunches instead of paying for school meals provides a big saving over the year too.
Look for Family Discounts
Many places offer family discounts, so it’s worth asking the question. Restaurants often have kids eat free promotions or fixed price family deals. Many attractions like zoos and adventure parks offer reduced rates for families buying group tickets. Some supermarkets give discounts for having 3 kids or more. It’s also worth checking if you qualify for any family railcards, club cards or memberships that offer money off.
Use Cashback and Voucher Sites
Sign up for sites like TopCashback, Quidco and VoucherCodes which offer cashback and discounts on purchases from major retailers. It takes little effort to use these when shopping online for everything from groceries and clothing to holidays and days out. These savings soon add up over the year.
Claim All the Benefits You’re Entitled To
Make sure you’re receiving all the government help available. Child Benefit, Child Tax Credits, Universal Credit and other grants or bursaries can provide income essentials. Don’t be afraid to ask your child’s school about assistance with costs like uniforms, school trips and music lessons too. Local charities and organisations may also be able to help with things like holidays, Christmas gifts and emergency grants.
Being savvy with your spending and making use of all the help available goes a long way when trying to spread your money further as a parent. With some creative thinking and careful planning, you can still provide your kids with a fun and fulfilling childhood without breaking the bank.