Guide to Finance

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Gifting Money To Children

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Many people do not realize just how expensive children can be until they have their own. Suddenly the income that was more than enough for two does not cover the bills for three. There are many expenses that come with children. While the expenses are more evident with infants, it takes just as much if not more money to raise children as they get older. Here are some great tips for saving money with your children.



First, one of the most expensive expenditures with infants is diapers. Diapers can cost a lot of money, especially when you have a young infant that goes through ten to fifteen diapers per day. Instead of using disposables all the time, buy disposables only for when you are out and about. Save money by buying cloth diapers and a diaper pail. The initial cost is about the same as buying three packages of diapers, but you will save money by not having to buy more constantly. You only want to use this option if you have your own washer and dryer, however. You won't save money if you are paying a diaper service.

The second most expensive expenditure with infants is baby food. Once your child starts to leave cereals behind and needs something more substantial, you will likely start out with vegetables, then move on to baby food that has meats, like veggie stew. You can save a ton of money by making your own baby food. All you have to do is take the vegetables that you have for dinner and put them in the blender on puree.

Another expense for children is school supplies and clothing. Many people think that they save the most money on back to school sales right before school starts for the year. But in reality you will save the most money on school supplies by buying them at the end of the school year, when stores are attempting to lower their inventory of items that will not likely sell during the summer months.

The best way to save money on your children is by buying their clothing at the right time. At the end of a season, buy clothing for your children one or two sizes larger than they wear, depending on their average growth rate. The clothing is always on sale at the end of the season as they make room on the racks for the next season's clothes. You will save a ton of money on your children just by shopping in advance.
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