Overspending on your kids? Here’s how to stop
The urge to spend too much money on your children is understandable. It’s even easier to understand those situations where overspending happens by accident. Still, you have to nip the problem in the bud. Let it continue, and you’ll end up broke with spoiled children. Learn how to recognize your overspending habits, and how to stop them.
Buying for the brand
Brand name items are notoriously expensive. Parents who buy clothes for their kids based on the label overspend by at least 10%. It’s often much more than that. Kids want what they see on TV. There are no commercials for off-brand items. Don’t give in to the brand name craze when a generic or store brand is more than adequate.
The cost of child care
Daycare is expensive. It costs so much that an increasing number of parents are priced out of the possibility altogether. You want to give your child the best, but not at the expense of your paycheck and the whole family’s happiness. Talk to family members about child care, or start up a daycare-share with neighborhood parents.
Heading out of town
Over-the-top vacations are pricey. Even though you want your children to have amazing experiences, remember that you can stay home sometimes. Sacrifice a getaway or two each year. Have a staycation and focus on exploring your town or the surrounding areas. Discover new activities and places of interest with the kids.
Cooking for no one
Picky eaters aren’t new. However, if you regularly give in to your picky eater, then you’re wasting time and money, especially if you make your child a second, special meal. Either stick to foods your child likes or encourage your kid to try something new each day. No need to prepare multiple meals and waste food.
Getting everything new
There’s no shame in secondhand clothing, toys, or kiddie gear. It’s smart to buy secondhand play clothes, for example. Get a bike from a neighbor or thrift shop when your child first learns to ride. Secondhand bedframes and toy boxes are just fine, too. As long as everything works, then it’s perfectly acceptable.