Kids Ain't Cheap

But They Sure Are Worth It

Will Having Another Baby Be Cheaper the Second Time Around?

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second childIn the last few months my husband and I are coming closer and closer to the conclusion that we will likely have another baby. Not for a few more years but if we have any control over the situation we would like to have another. More for the fact that we want our daughter to have a sibling. Both my husband and I are very close to our sisters and we want our daughter to have that relationship too. Though not the only reason, a big reason we’re choosing to wait to have more kids though is that kids aren’t cheap!

I really don’t think kids have to be as expensive as some would make them out to be but they’re still far from free. The two biggest expenses we need to consider is me being on maternity leave for upwards of a year (and losing some of my income) and daycare.

Preparing the Monthly Budget

 

Ideally we have another child at the same time our older daughter is preparing to start school. Once our daughter is in school she will no longer need full-time care and likely just a few hours in the afternoon until my husband and I are off work. This will save us hundreds of dollars a month for her current daycare cost. Having an older child in school while the younger is in daycare will definitely be the cheapest option in terms of saving on daycare costs initially.

As we come closer to preparing for me to be on maternity leave our monthly budget will look much better as we will have a significant amount of debt paid off as well. The peace of mind that comes with not having additional debt payments while on a reduced income will be great!

Saving on Baby Stuff

Most of the toys and baby items we bought and received as gifts for our daughter were very gender neutral which will save on upfront costs (and even if they’re not I have no issue with my potential son playing with his older sisters pink toys). There are very few baby ‘’items’’ we would need if we have another child. If we have a son we would need some clothes (most second-hand) as our daughter’s wardrobe is very girly and I draw the line at riding her pink motorcycle.

If possible, I will breastfeed again saving on formula and because we already own a pump and storage bags I wouldn’t need to re-purchase these.

Other than things like new savings account for post-secondary which will come with any future child, the other costs will be very limited. We will eventually need a second bed for him or her and some clothes, but because we have chosen to keep all of our current child’s things there is very little we actually need. Paying off our debt will also ensure I have a stress free maternity leave!

Did you spend less on your second baby than you did buying things for your first child?

Is Competition the Key to More Affordable Loans?

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affordable loansRegulations imposed by the Financial Conduct Authority (FCA) have been responsible for culling many payday lenders that are unwilling, or unable, to abide by the tough new rules. The mass exodus of payday lenders from the market in the last few months is the result of the FCA’s strict regulatory regime, with a third of the UK’s 210 payday lenders failing to apply for permission to operate. This is in addition to the 30 or more payday lenders that had their licences revoked by the Office of Fair Trading (OFT) before the FCA took the helm.

The result is a cleaner, fairer industry. But could there be a risk that the lack of competition resulting from this cull is starting to have adetrimental effect on the priceof payday loans?

Competition and Markets Authority investigation

As a result of the perceived lack of competition, the Competition and Markets Authority (CMA) recently launched an investigation to discover what benefits, if any, consumers would experience if steps were taken to encourage alternatives to payday lenders likeWonga. While the full report will not be completed until later this year, the CMA has already released a snapshot of the problems it has uncovered to date.

One of the biggest problems facing the industry is the tendency for prospective borrowers to make their lending decision based on the speed they can access the cash, rather than the overall cost. This is causing typical payday loan customers to pay over the odds by between £5 and £10 per loan.

Recommendations for change

To solve this problem and make it easier for consumers to make a decision based on price, the watchdog has proposed the creation of an independent price comparison website. This will help consumers to quickly and clearly establish a picture of the overall cost of a loan that has been tailored to meet their specific needs.

The CMA also believes consumers will benefit from a clear breakdown of the costs, along with periodic statements of their debt, if they fail to repay their loan by the agreed time. Another measure proposed at this early stage includes the clamping down on payday loan ‘middlemen’ or brokers, who generate leads before selling them to the highest bidder. In such cases, many consumers are often unaware they are dealing with a lead generator.

The demand for payday loans

One fact the investigation cannot fail to recognise is the demand for payday loans, which is certainly here to stay. The payday loan sector has enjoyed considerable growth in the last few years, so much so that these small changes alone could result in a consumer saving of £45million per year.

A spokesperson for the Competition and Markets Authority, said: “Short-term loans like these meet a very clear need for around 1.8million customers a year. This level of demand isn’t going to go away so it’s important to ensure this market works better for customers.”

A dearth of viable alternatives

Much of the demand for payday loans is thought to be driven by a lack of viable alternatives. However, in a recent poll of its customers by payday lender Wonga, 77 percent of respondents said they would rather take out a payday loan than use short-term credit sources such as credit cards or overdrafts.

Consumer organisations such as Citizens Advice believe the best way to increase competition is to breathe new life into the industry with affordable alternatives such as ‘micro loans’ from banks. However, it is unlikely the banks would be able to compete with the speed and convenience with which payday loans can be sourced.

The CMA investigation is ongoing. In the meantime, further clampdowns on the sector are being introduced by the Financial Conduct Authority (FCA), which is responsible for regulating the industry and ensuring consumers’ interests are put first. This hands-on approach is certainly having the desired effect, with only those payday lenders willing to abide by its higher consumer protection standards still operating in the industry.

Author Bio: James Williamson is a finance writer, food lover and compulsive coffee drinker who fights the good fight to protect consumer rights.

Do you believe payday loans are overpriced if they are used as a short-term option? Would you be able to source short-term credit elsewhere if payday lenders were not in operation? We’d love to hear from you, so please leave your thoughts in the comments section below.    

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How Long Can We Maintain Being a One Car Family?

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one car familyWhen my husband and I moved into our first place, a nice one bedroom apartment, our lease stipulated one vehicle included, anymore and we would have to pay extra for an additional parking spot. Given that we were looking to save as much money as possible for our upcoming wedding, we decided to sell my little old car.

My husband had the more reliable vehicle and I opted to use public transportation instead of paying extra just to park my car. I work in a downtown core where parking is incredibly expensive as well so driving to work is quite the added expense, selling our second vehicle made sense for so many reasons.

Fast forward six years and we’ve been married, moved into a suburban home and had a baby. My job is the same, my husbands has changed slightly requiring more frequent out-of-town day trips. I’m still taking public transit which, to give our city some credit, has improved in the last six years. Though I thought it would be a temporary thing, six years later we’re still a one car family.

The only way this is possible is me either taking public transit or carpooling on some days. Though I could drive to work faster than me taking public transit I simply cannot justify this added cost right now. Monthly parking at my jobs location is $150 per month. If we bought a second car, not only would we have the upfront cost of the vehicle, we would need to pay for gas, maintenance and insurance. Even without paying for parking it would still cost us about $250 per month to own said car. With parking and bridge tolls, closer to $500.

I currently pay about $60 per month for public transit, a significant savings from the $500 we could be paying!

The inconveniences of being a one car family….

The biggest inconvenience we’ve encountered with being a one car family happened two years ago when our public transit went on strike. We ended up spending more than double our gas (almost $400 per month in gas) with my husband driving me to work everyday or us giving gas money to other people for me to carpool with. The strike lasted months and was a huge headache to deal with. My normal 30 minute driving commute was upwards of two hours some days with the sharp increase in vehicles on the road.

As our daughter gets older we’re expecting a few more inconveniences as she gets involved in activities and needs to be at places. Given that I now rely on my husband to pick me up from a major transit depot close to our house, if he needs to have our daughter (dance or soccer) at the same time we’ll be in a  tough spot with me trying to get home. My work schedule is very rigid and can’t easily be changed so I foresee this being a challenge.

We’re lucky that we currently live in an area with public transit, I suspect our next home will be out of the city and away from major transit lines where owning two vehicles will be a necessity given our work schedules.

At this point in our lives, being a one car family works. We’re ”saving” almost $450 per month. Money we just can’t justify when we’re working to pay our debt off. Once our debt is paid off we will likely get to the point where having a cheap second car will be a necessity either because of where we live or the direction our lives takes us.

Are you a one car family? How is it working out?

How to Save For a Large Family Purchase

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how to save for a large family purchaseHaving a family is expensive.

It doesn’t have to be as expensive as some stats would have you believe, but going from a married couple of two to a family of three plus will have added expenses.

These every day added expenses such as diapers, food, paying for kids activities and possibly private school tuition can make it seem impossibly hard to save for large upcoming expenses that affect the whole family.

Large expenses that affect the whole family may include:

  • Home repairs, everyone lives under the roof and mom and dad need to keep it safe!
  • Family vacations
  • Family vehicle

All of the above are expensive. Right now we need to start saving for an upcoming family reunion next summer and though much less critical we’d eventually like to upgrade the appliances in our kitchen. In order to do any of these things we need a plan.

Come up with a list

We created a list of everything we wanted to do and purchase, then, together as a family, prioritized each item with a number 1-5.

Once everything had a number we ranked within each set of numbers (ie we may have had three #4’s) and ranked in priority until we had a detailed prioritized list. Once the list was ranked we put an estimated cost beside the item and recheck the list. This is the order in which we will tackle things.

Come up with a plan

A list without a plan of attack is nothing. We can say we want to attend the family reunion next year but if we don’t have a means to pay for it then it will never happen.

The plan has to include a more realistic budget for the item or venture as well as a plan to come up with the money by a certain date.

Come up with the money

Coming up with the money is the hard part. If you’re able to designate a savings line in your monthly budget this is an ideal situation but if the money needs to come out of funds over and above your regular monthly budget then you’ll need to get creative.

Are you paid bi-weekly? If so, it means you have two ”extra” pay periods per year that you could use for the family purchase.

Have a tax return that you could use (if not reinvesting)?

Start small. My husband and I have big dreams of attending the 2022 Olympics with our family no matter where they are in the world. Obviously this will require substantial planning and substantial money.

I figure we would need to invest at least $100 per month for the next eight years to make this happen but since our current priority is debt we won’t be starting to save for probably four years at which point we will be able to easily double up the payment to $200/month for four years.

Save all ”extra” money. Overtime, side income, found money. Any unaccounted for income could go towards paying for your family’s larger purchases.

How do you pay for larger family purchases?

How to Choose the Right Car for Your Growing Family

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choose a carAs your family grows your vehicle needs will change.

A two seated car isn’t going to work for a three person family with a brand new baby. And among the size of a vehicle other things will come into play, such as safety and accessibility.

Here are some steps you can take to find the right car for your growing family.

Size of the Car

When it comes to the size of a car you need to think into the future.

For instance a family of five can comfortably fit into a standard SUV with five seats. But if you’ll be adding onto your family in the next couple of years you’ll need to go with a seven or eight seated vehicle.

Think about not just what you need right now but what you’ll need in the next couple of years. This will save your major hassles.

Safety of the Vehicle

When you have young children it’s important that you consider vehicle safety.

For instance large size cars, SUVs, and vans usually have a higher safety rating than a compact car. Make sure to do some research on the safety of the vehicles you like.

After all, your most precious cargo will be in tow!

Vehicle Accessibility

If you have a new baby you want to make sure you can easily get your baby in and out of the car.

This is why you’ll want to go with four door cars. If you have a two door vehicle it will be hard to take a car seat in and out.

It will also be a hassle if young children have to get in and out of a two door car.

Price of the Car

Once you have the types of vehicles you’re looking for narrowed down it’s time to decide on the hard part: your budget.

If you’ve saved up cash then you know what your budget will be. However, if you plan on taking out a loan you’re going to need to figure out how much you can, and want to, spend.

Car loans can now be taken out on seven year terms. I would highly encourage you to take out the shortest term possible.

Play around with a loan calculator to determine what you can afford. Also check with different banks on going interest rates. One option is to look for the best car finance with IMB.

Also, don’t forget to factor in the cost of your insurance. It’s a good idea to go ahead and find out how much insurance would be on cars you’re considering. You can do this by contacting your insurance agent and asking them to run quotes for you.

By following these steps you should be able to pick out the right vehicle for your growing family.

Happy shopping!

Saving Money on Kids Birthday Parties

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money saving ideas for kids birthday partiesThis past weekend my daughter was invited to the birthday of a little girl we know.

She was turning six and all I knew was that there was a ”clown theme”. It was the first time I’ve actually attended the birthday party of a child (outside of me being a kid myself) and holy. cow. The party was over the top.

I certainly don’t remember ever having, or attending a party of such detail before in my life. It scared me a little into thinking there was some new expectation to have a huge party for kiddo’s upcoming birthday.

I was right, there was a clown theme which included:

  • Having a live clown perform or two hours making balloon creations for every kid present (at least 30 kids), a full kid-friendly magic show and all sorts of attention for the birthday girl.
  • Rented hall for event.
  • Full decoration (balloons, streamers, plates etc)
  • Toys for kids (clown noses, silly bowties, party hats)
  • Food (fresh fruit, candy in skewer form, cake, chips)
  • Multiple treat bags full of stuff for each kid.
  • And so many gifts!

Saving Money on Kids Birthday Parties

Kid parties certainly don’t have to be so over-the-top though. You can have all sorts of fun without compromising the child’s memory. To save on kids parties consider doing these money saving tips:

  • Only invite the child’s friends/family. There was simply no way this little girl was friends with every child there. Invite only kids that your child actually interacts with. There is no rule about mandatory invitation to every child in their class.
  • Don’t have it during a time when a meal may be expected. Only serve snacks and keep them to a minimum. Depending on how many people may be present, buying in bulk at a store like Costco or Sams Club may be the best option.
  • If you do serve a meal make or buy something that is inexpensive but can serve a lot of people (lasagna, pizza, pasta, BBq burgers/dogs) or consider a potluck meal.
  • Look into group party discounts at local attractions. I know the local movie theater here offers a pretty good price for a large group (movie ticket, snacks, room rental and cake all included). If you’re only inviting close friends and family it can be a reasonable option.

If you start with extravagant parties, especially so young, there will be an expectation for years.

I’m not suggesting you shouldn’t have fun and celebrate their special day but keep it within reason. This can’t be the new norm! I remember having my friends over for pizza and games, as we got older possibly a sleepover, not an all-out afternoon event with every kid in the neighborhood. Put the focus on your child having fun, not money spent.

How do you save money on kids birthday parties?

 

Frugal Summer Fun For Your Toddler

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frugal summer activities for kidsIt’s hard to believe that June is here!

The weather is finally starting to warm up (the cold weather was dragging on forever here) and we’re venturing outside. This is the first summer that my daughter could really ”do anything”. She was born in June so last year, being only one, was just learning how to walk and explore.

This year, a full-fledged active two year old, requires strategic planning to keep her entertained. The good thing is that she’s only two so doesn’t really know how or what is out there unless we expose her to it. The bad thing is that she is very busy and requires me to be as creative as I can be to keep her entertained all summer.

After pursing the internet and talking to my mom and teacher friends, I have come up with a list of fun fugal outdoor activities for your toddler:

  • Painting with water. We did this the other day and it’s as easy as it seems. Bucket of plain water and a paintbrush! We painted the driveway and fence. This literally entertained her for over an hour and 100% mess-free!
  • Chalk/bubbles. Another favorite and cost less than $1.
  • Explore your neighbourhood. I like taking walks with kiddo before it gets too hot in the summer mornings. It’s usually not too busy traffic-wise and I can let her out of the stroller to just run ahead of me a little to burn off some energy herself.
  • Parks and playgrounds. When we’re on our walks we will often stop at a local playground to run around. Bonus if there are other kids present for her to play with otherwise mom is getting an added workout playing too 🙂
  • DIY Sandbox or dirtbox. Little fact: Kids love to dig and play in dirt. We plan on buying a cheap kiddy pool (less than $10) and filling it with either sand or dirt. We can hide a few toys within the sand/dirt and let them dig it out. I went to the local dollar store and purchased some little shovels and a toy dump truck for her to play with in said box.
  • Beach days. Great idea of you’re close to one!
  • Picnics. There’s something so fun about eating outside. You don’t even have to go anywhere, you’re own backyard will do. It’s the change in routine that will have them entertained.
  • Treasure hunt. Take objects (ideally kids toys) and hide them outside having them find them based on description such as ”eye spy something that is red”.
  • Garden. Kids love helping. Something like a garden is something they can help with (maybe something as simple as buying them a tiny watering can sort of thing). Have them help pick out flowers and I’m sure the first thing out of their mouths every morning will be ”flowers!”. They will love the added responsibility to help keeping it alive.

Keeping little ones entertained can be exhausting for parents. It’s so easy to run out of ideas especially with very active toddlers. I hope there are a few new ideas for you and your little one. Bring on warm weather!

What other frugal summer fun ideas can you think of?

Easy Ways to Teach Your Kids About Money

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ID-10027119Teaching kids practical skills about money is challenging. Part time jobs or chores show earning money is not free, but there is little incentive to budget or save. We also want our children to be ‘kids’ and enjoy their childhood without overwhelming them.

So, how can we teach kids about money in a fun and easy way?

Here are some ideas to consider:

Use Technology:

Online apps make it convenient and effective to teach money skills at different stages. Our kids are often more tech savvy then us, which puts them more at ease when learning online.

Some ideas include:

High School and College Kids:

Credit cards, car loans and student debt are buzzwords for teens. Many young kids focus on what debt buys, with little regard to the long term effects.

Online simulators show kids what happens after they get a car, attend college or go on shopping sprees. These sites also give lessons on choosing the most cost effective loans. Sites such as CreditCardSimulator tailor to newbies who have never had a credit card or auto loan. Kids can browse fictional cards with different APRs and fees. After choosing a card, you see what the monthly payments and total cost of favorite products would be, which may be startling.

Tips:

  • Start early! Parents and kids should use a college loan simulator BEFORE applying to universities. Yes, college can be an investment, but what colleges offer the best ROI?
  • Online tools help students see what they’ll be facing after graduation. For instance, does a $700 monthly loan payment justify a particular school? Can the same objectives be met with a $35O payment from a comparable college? This gives kids’ perspective on choosing a school that most meets their needs.
  • Don’t forget about camps and workshops. Many colleges or companies offer free online courses or meetups that prepare students for college life and debt. The USC Keck School of Medicine unveiled a summer camp that provides internships and a chance to meet with current students BEFORE applying to school. Funded by USC alumnus Elliott Broidy, the camp began in 2013.

 

Young Children:

Virtual worlds allow kids to learn about juggling scarce resources. Kids earn virtual money through games that buys cyber clothes, pets and toys for their avatars. If your kid wants a puppy and new clothes, they must prioritize their budget or earn enough to buy each.

Most sites connect children from across the world for interactive games and activities. You should review each site for online security and filters that prevent foul language or unruly behavior.

Tips:

  • Be involved to advise without making decisions for them. For instance, if a child has to choose between a puppy and clothes; ask what they feel is most important? They’ll likely say ‘both’, which forces them to make a money decision.
  • Some critics say these sites encourage children to cheat for more money. Of course, what parents feel is appropriate will vary. If a child cheats for quick cash to buy a puppy, you may ask if this is the right way to earn something. Parents who notice a pattern of ‘win at all costs’ behavior may check if it spills over into school, play or other real life activities.
  • Choose a site that puts your child in a position to succeed. Each child is different and some sites may have too little or too much to offer. If your kid is easily frustrated, a more basic platform may be a good way to build their confidence.

Summary:

Money is a subject that follows us throughout life. We can teach kids how to make wise choices with technology and guidance.

Photo Credit: konsgky

Frugal Gift Ideas for New Parents

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frugal gift ideas for new parentsThough it seems like an eternity ago, I have a daughter who is only two years old.

It wasn’t that long ago that I was a stressed out new parent (stress is far from gone just in a very different manner). We were one of the first in our circle of friends to have a kid but now it seems everyone is starting to catch up! Given that it wasn’t that long ago I was in their position I have a pretty good idea of good, useful gifts for new parents.

Here are some frugal gift ideas for new parents.

Cleaning

Though there is a difference between messy and dirty, maintaining your home during those first few weeks is tough, even on a basic level. I was home recovering with a c-section and though my husband was home to help, he was busy helping me and baby, taking care of basic needs like food, comfort and laundry.

Cleaning the house was the bottom of the list. After a few weeks when I started feeling better and kid was into more of a sleep routine (I miss those long newborn naps sometimes!) I was able to do it but I so appreciated when my sister came over just to help tidy up and sweep the floor. I could rest and she helped every few days with tidying up. If you don’t want to donate your own time to help parents with cleaning, consider getting a gift certificate for a cleaning service. Trust me, they will use it!

Food

In the weeks leading up to baby I prepped a few meals to freeze but not everyone has time to do that. I think my favorite gift was food. We both so appreciated having food delivered. We were both tired and didn’t feel like cooking, even to turn the BBq on to cook the burgers I had already prepped. We received both cooked meals and gift certificates for meals to go, both of which were blessings.

Sleep

Once my husband went back to work and I was on my own during the day, I did receive a treat visit once or twice when friends or family came over to watch baby for a few hours so I could rest. Sleeping when baby sleeps is much easier said then done and a rest when you really need it is invaluable, trust me.

Basic Needs

Though it’s tempting to buy cute fluffy toys and blankets for a new baby, parents would love to help with basics like diapers, pajamas or clothes for the kid that will grow (and fast). I had one friend but outfits for a 12 to 18 month old. It was nice to have clothes for all ages and not just newborn.

Becoming a parent, especially the first time, is a stressful time. They say the first year of marriage is hard, I would argue that the first year as parents is the most difficult I’ve ever been through. If you’re looking for a good gift to give your new parent friends, the truth is that the more practical the gift, the better!

What would you add to the list?

Any tips for gifts for new parents?

5 Expenses Every Family Can Save On

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5 Expenses Every Family Can Save OnHaving to provide for a family is expensive. There are more mouths to feed, kids to clothe and activities to attend. Families are often looking for areas to save but sometimes are at a loss about where to start. There are many areas a family could look at cutting back on or eliminating all together in an effort to balance a family budget.

Clothes

Before I buy anything I always check the local thrift store first. Women’s and children’s clothes especially. Women are always gaining and losing weight, often buying, and then discarding, perfecting good and sometimes new clothes for others to capitalize on! Children just grow like weeds so rarely get more than a few months worth of an item anyway.

Utilities

I already spoke about cutting back on cable options (eliminating everything entirely also being an option). Other options for saving on utility costs are to look into energy savings. Everything from upgrading cheaper options like energy-efficient light bulbs, to more expensive options like upgrading to energy-efficient appliances. All will help with your monthly bottom line.

Transportation

Have a good look at your transportation costs. Do you really need a second car. Could you make one vehicle work? Is there a way to save on gas? Carpooling? Public transit? We sold my car before we moved into our current home. Though it would be hugely convenient sometimes to have that second car, especially with my commute and a child, we can’t justify the added expense. Even with a paid-off car we need to consider gas, insurance and maintenance costs.

Food

Food expenses can get out of control in any sized family. I can’t stress enough how important meal planning is. Not only will it save your sanity it will help your budget immensely. We used to easily spend $650 per month of groceries for our family of three (plus cat). Now, an expensive month is $450 and that usually includes topping up some supplies and on-off items.

I can’t think of any other way to maintain a decent diet and in-check budget without meal planning. It makes all aspects of your life easier! Also look into buying bulk for items you consume a lot of. We go through a lot of berries, bananas and broccoli for example so always buy them at a wholesaler instead. We also find stuff like toilet paper and laundry soap generally cheaper at wholesaler prices.

Don’t Buy Cheap Stuff

This sounds counterintuitive but if you waste your money on cheap crap, you will ultimately end up spending more money. Saving up for quality usually saves money in then end. Some things you can get away with a cheaper version but other things are worth saving for. You decide if the item in question is worth saving for or a cheaper version will do.

I for example would never buy my growing child expensive clothes when I can shop at thrift stores or places like Target knowing it won’t fit in like three months and will have plenty of play encrusted in it.  I would however invest in pieces for myself or husband that I know we’ll get a lot of wear out of.

How do you save on family expenses?

How to Save Money On Kids Toys

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how to save money on toysI have a young daughter and am realizing just how expensive it can be when it comes to toys. Advertisers do a great job at marketing to both parents and children in trying to convince them of what they ”need”. Most toys are not a necessity in any way. Granted, there are some really great toys/educational items we have come across that we have enjoyed but I don’t think she is any better of a toddler in terms of development because she had these toys growing up.

Given that purchasing even some items will be inevitable with kids, I have gone out of my way to figure out ways to do it as cheap as possible.

Borrow

My first option is easier for young babies and children but if there are items you can borrow from a friend of family member save your money and do it! Most of these toys (such as exersaucers, play mats, activity tables) are indestructible and easy to clean so you don’t have to worry about ruining or spreading germs. We have a friend with a daughter who is four months older than our daughter which worked out well for sharing some baby toys. As she was getting ”too old” for the objects, we inherited them temporarily. Babies especially lose interest or grow so fast they don’t play with things for very long.

Same goes for books. While we have many books purchased or gifted we also borrow a ton from the library.  Makes for a fun outing and she gets ”new books”  every few weeks.

Buy Used

Younger kids especially will have no way of knowing if something was used, nor do they often care. Items we couldn’t borrow from friends we often bought  through online classifieds or yard sales. Again these objects were often only played with for a very short time and resold at a fraction of the cost. A quick clean restores them to brand new conditions!

Online or Price Comparison

If I must buy something new, I always check online (Amazon, Ebay etc) first since their prices almost always beat in-store. If I can’t find what I want online (or shipping isn’t included, I take my search back to the internet but to look at specific stores until I find the best price. If there is  another store that does price match guarantee (sometimes even beating it by a few dollars) I usually try that route too.

Buying New: Sale, Discount or Awards Offered Only!

If we’re buying from a store, it’s a super sale or we’re getting something in return. We decided to get our daughter a specific outdoor playhouse for her upcoming birthday. Retailing around here for $300 didn’t settle well with us. For months we’ve had our eyes on online classifieds with no luck. Buying online also wasn’t an option since it was massive and was going to cost a small fortune (anywhere from $50-$100) to ship. We accepted we’d need to either change our minds on gift or buy it new. We lucked out with a 50% off sale, plus price match. We snagged the $300 playhouse for $115 (less a gift card we’ve been holding on to). We also received bonus collectors points for our purchase! I was more than happy! 

Even if you only get the item on a tax-free sale, saving tax is money in your pocket! Shopping around can be tedious but in my option so worth it. 

How do you save when it comes to buying kids ”toys”, other than, of course, avoiding the purchase at all?

TV Alternatives: Managing a Family Home with No Cable TV

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cable tv alternativesIt could be argued that it is mainstream to have a television with cable in a family household.

When my husband and I were doing our first monthly budget we listed our cable bill under ”fixed expenses”. I mean people don’t actually have a television and no cable? Or so I thought. I had never entertained the idea of actually getting rid of cable, we needed it. It has been many years since our first budget and I’ve come to realize how unnecessary cable is.

With children it can be even harder for them to understand you no longer have access to a billion channels at the push of a button but there are many more economical options out there for families.

Our cable alone is over $100 per month. I can’t say I get $100 per month worth of entertainment from the TV. I’m so busy with my work, family and freelance work that other than a special event (think Olympics) I don’t watch TV and when I do 99.9% of the time it’s something that was pre-recorded. My husband loves his live sports and our daughter does have a show that she enjoys watching as well. At $100 per month though we needed to look into other options because $1,200 per year is a lot of money!

Online

There are a lot of shows that you can watch directly from the stations websites. Sometimes they’re live streaming but somethings you may need to wait a day or two to wait for the show to be up loaded. Either way you’ll be able to get some of the shows you want, contained within your internet bill.

Netflix (and alike)

For $7.99 per month you get access to thousands of shows and movies of all genres. Netflix is the only one I can speak for but I enjoy it a lot. I like the no commercial aspect and that I can pick a series of appropriate shows for my daughter and not have to worry about leaving the room (there are a lot of inappropriate shows even on children’s networks). Netflix has really upped their game in the last few years and I love it.

Live Sports

This was a bit harder to get but not impossible. My husband live-streams his hockey games through either his computer or directly on TV via a gaming console through a package he bought online (such as NHL’s Gamecenter Live). At a price equivalent to what some people pay per month in cable fees, you can get an entire season accessible to you, at your convenience, commercial free. 

Free Local Channels

Around here, if you don’t pay for cable, but still have a cable cord plugged into your television you will get access to three local channels. It isn’t a lot but all we would need for local news (though we rely almost entirely on Twitter) and a few popular shows.

Growing up we only had basic cable. I can honestly say that because we weren’t tempted by the millions of channels currently available to kids, I was much more apt to go outside and play. I am of the opinion that screen time should be seriously limited anyway so cutting cable shouldn’t even be noticed much by kids I especially like that without cable they won’t be exposed to as much advertising which can be detrimental in its own way!

Do you have cable? Do you have any alternatives?

 

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