The healthy choice can also be the affordable choice. This week I was a guest on WGN-TV's Midday News to discuss parenting on a budget; you can view the clip here:
I prepared some notes in advance of the segment that I'd like to share with blog readers:
Each year, the USDA studies how much families are spending to raise their kids. The latest report was released June 2010, and states that the average middle-income American family spends about $220,000 to raise a child from birth to 18. That is a scary number, but that doesn't have to be your number.
The good news is that parents have the power to make healthy choices that are also budget-friendly. Every family has its own unique financial situation, but these are some tips we can all use:
· Keep it simple; a child's best "toy" is a parent. Remember that good parenting isn’t about stuff or things– a good parent provides love, safety, and security. Babies in particular need interaction with caregivers: eye contact, talking, singing, reading books. Sometimes the best toys are not toys at all– in a young child's eyes, an empty cardboard box can be a car, a plane, or limitless other creative expressions.
· Be a conscious consumer. Shop the sales and compare prices. Connect with others (in real life or via online social networking) to get the scoop on coupon deals and where the sales are. There are some savvy shoppers in my Mothers of Twins club who generously share their good tips on couponing or online restaurant gift card deals to the rest of us less-experienced folks.
When grocery shopping, shop the perimeter of the store. The center aisles are typically stocked with prepackaged, processed foods that are unhealthy and more expensive. Shopping the perimeter for simple fruits, veggies, or dairy, for example means your family will be eating more healthfully as well as saving money.
A lot of us are looking into organic foods these days, but they can be more expensive than conventionally grown foods. Families can spend their money selectively on types of produce that are more susceptible to pesticide residue (the so-called “dirty dozen”), such as peaches and apples. Conversely, bananas are a type of produce that is not as susceptible to pesticide residue, so you can save your money by buying conventionally-grown bananas, and feel good about your decision.
Along these same lines, more families are looking for natural skin care products for their kids that are free of parabens, phthalates, and formaldehyde, but typically these can be expensive as well. More interest from families is creating more options. The Safety 1st company has a new Naturals skincare line– it's a good example of a safe ingredient list that is more affordable than comparable products.
Families also spend a lot on health care. If you need prescriptions, chain drugstores such as Target, Walmart, and Walgreens have various generic prescription plans that average about $4 a month.
· Be selective and buy only what you truly need. This is of special importance to new parents. Talk to other moms and dads and find out what they found most helpful, and what items they could have done without. You can borrow items or buy secondhand, making sure the items meet current safety standards. For those of us with multiples, take note: Mothers of Multiples clubs usually hold resales twice a year (and are usually open to the general public, regardless of how many kids you have!). Look to the future and repurpose items as well- instead of buying a changing table, use a dresser instead with an attached changing pad on top that can be removed later.
· Breastfeeding is both economical and healthy. This is a "win-win"- breast milk is the optimal nutrition for babies in the first year of life, and it is also affordable. Formula costs about $2000 per baby per year, depending on the type and brand. Breastmilk also contains immunologic factors that help prevent infections and illness, so you're saving money 2 ways- by not buying formula, and by not acquiring costs through illness or missed days at work.
· Avoid overscheduling. Besides saving money, kids need "free time" to play, boost creativity, problem solve, share, and socially interact with others. Camps and activities are great, but their cost adds up quick, especially for multiple children. Get creative and hold your own summer camp, and limit each child to their favorite 2 activities. Each town has comparable resources, but here in Chicago, Chicago Parent magazine lists free and low-cost family fun ideas. Look into your community park district and your public library for more free or low-cost activities.
· Cook at home as much as possible. Consider restaurant meals (including takeout) as a “once in a while” treat. Cooking at home saves money and is much healthier; restaurants meals are notorious for overly-large portions and being high in fat and salt. If both parents work outside of the home, plan ahead by prepping meals and freezing in advance, or having prepped ingredients ready to go for quick assembly at mealtime. Start a garden! You can teach kids about where their food comes from, and perhaps even nudge a "picky" eater with the temptations of vegetables grown before their very eyes.
· Focus on your family’s situation. This is a mental tip to stay focused, because so much of budgeting is psychology. Budgeting is about prioritizing and balance, and every family has their own unique situation. If you see friends or neighbors spending on a splurge, you aren't seeing where they are cutting back elsewhere to make that treat financially possible, or if they are in debt. Focus on your own situation.
· Budget-friendly vacations. Unstructured bonding time as a family is important and can be affordable. Airfare for a family adds up fast- consider destinations that are easily reached by car within a day, or be a tourist in your own town.
There is so much more to say about saving money while raising a family; feel free to share your tips in the comments below.
No comments:
Post a Comment