How to Raise a Child on a Budget: Identifying the Necessities

Just because it is cheaper not to have kids, doesn’t mean that it will keep you from having children. If you are currently raising a child while making sure you stick to a budget, you will know that it is a difficult thing to do. All you want to do is give your child anything they want and to ensure that they receive a good quality childhood that they can look back on and remember with a positive mind.

After all, the way you bring up your children will likely reflect on how they raise their own children 20-30 years down the line. So, it’s important thing to do. Sticking to your budget may not seem as important, but spending more than you make can teach your child the wrong lessons and put you in a position that will prevent you from helping them with their finances.

Come Up with a Plan

After deciding on how much you can realistically afford to put aside each month for your child, you need to note down and decide what the absolute necessities are to then work out how much you might have left over for more spontaneous charges that may come up (a birthday party or school trip for example). Items such as clothing should be considered a necessity, though it doesn’t have to be designer or expensive, making sure your child is clothed and happy is obviously priority number one.

Your own necessary expenses will differ from household to household depending on what activities your child may enjoy and take part in. The main goal is to organize your finances here – judging what you absolutely have to be paying each month allows you to set aside a little for other things you may wish to do with your children.

Love costs Nothing

When raising a child on a budget, even if you are just scraping by and managing to keep afloat with the bare necessities, you may be worried about doing extra activities with your child, which of course will cost money, in order to keep them entertained. I can assure you there are countless ways to spend time with your children and have fun with very little or even no cost to yourself.

Simple things such as board games and group activities as a family will show your child the love they deserve and enrich their lives exponentially. Taking a soccer ball down to the park costs nothing but your time – and this is all your child really requires. More than this though, time with each other is all that both of your truly want at the end of the day, if you provide your child with this you will also be rewarded by the smile on their face and the joy of watching them develop positively.

7 Responses to How to Raise a Child on a Budget: Identifying the Necessities

  1. It is so true that it doesn’t take a lot of money to give your child a happy childhood. My mom was a single mom and we didn’t have barely any money at all (food-bank style). My mom is a dental hygienist so she had the potential to make quite a bit but she chose to work 2 days a week for most of my childhood so that she could give us the most love, not the most things. The time with my mom and the fact that she was willing to sacrifice her own comfort as well means so much to me. I would take my mom being home every day over a Disneyland vacation every year any day!

  2. I may soon need to adopt all these advice. I have a slightly different attitude towards raising children. I don’t want to be frugal on baby needs and willing to provide the best things for him/her.

  3. Jason says:

    As with budgeting without children it’s imperative that people do it with kids. Focus on the necessities and if you have extra income which allows you to allocate more for “wants” then go for it. We don’t have kids yet so it will be interesting to see how we fare as parents.

  4. I am sure we are going to have some tweaks to make as we go but we are going to not try to go overboard when baby comes. As new parents you can often fall into that trap. We will try to fight it as much as we can. We are already starting to save for baby expenses and we aren’t starting a family until next year.

  5. I hope I don’t lose my mind if we have a kid. If we start spending like crazy, I may cry. I grew up playing outside, with blocks, or with the dog…I am hoping I remember that in the future.

  6. Kids don’t care what you spend (especially when you’re young). Model smart spending and your kid will likely follow. I love garage sales for cheap kids stuff.

  7. Rebecca says:

    Great post! I love how you say love costs nothing. That’s the most important thing a child needs – not all the stuff money can buy them. I think it’s really important to remember this because its easy to get caught up in buying more and more things for them, but all they really need is food, a place to sleep and love!

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