Saving Money on Kids

Here's a list of money saving tips on kid-related expenses from the Motley Fool. I'll break the list into two groups -- new ideas and ideas I've previously covered in this blog. First, here are some new ones to add to the list:

• Have some regular reading time, when all of you read some books or magazines or newspapers. It's good for the kids and good for you. And it doesn't cost much, either.
• Make your own baby food. In a food processor or blender, puree canned fruits and vegetables (preferably separately) with a little water or juice from the can. (Make sure you're not using products with a lot of unwanted sugar or salt, though.)
• Teach your children about the value of money by giving them allowances and expecting them to save and pay for some of the things they want. If you can get them to save and invest some of their money, you might even institute a matching program, in which you'll chip in a dollar for every one or two dollars they save.

Now, here are the other ideas they offer up that I've covered previously:

• One fun thing to do is to establish a family game night.
• Buy a family pass to the local zoo or amusement park, if you plan to go there frequently.
• Spend time at public parks. (and other community events)
• At restaurants, you might offer to pay your child 50 cents or a dollar if he or she orders water instead of soda.
• Learn to cut your kids' hair.

Comments

[Dus10]

I really like the idea of matching savings... really make it like a true vesting program, as well.

We go to the zoo a lot in the summer time. For a family of five, it is about 70% of an annual pass for just one visit. So, we get the pass in the middle of the summer, and use it as much as we can that summer and the warm portion of the fall. Then, when spring rolls around, we use it as much as we can again. We are thinking of skipping a year, as we will be able to use the pass in two summers, as we purchase it half way through. This would cut the cost in half, again.

[Canadian Capitalist]

We just made a batch of baby food yesterday and it couldn't be simpler. Ironically, I didn't start it to save some money. I found that ascorbic acid and lemon juice are added to bananas and apples which tastes sour. Home made just tastes much better and the little tykes love it.