Diamond Author
Yes having children can cost a lot of money, but it is definitely worth it. Listed below are eight out of the box money saving ideas, to ensure you still have a lot of fun and cover all your health bases. Enjoy.
Tip 1: You don't need to spend a lot of money entertaining your kids: Cut back on your spending on kids toys. Simple arts and crafts, paper etc won't break the bank, and you will be amazed at how many different activities the kids can come up with. Get them cleaning and convince them it's not a chore.
Tip 2: Pay for basic private health insurance: In our humble opinion, private health insurance is a must when you have a family. You don't need an over the top package, a basic package which covers you for major emergencies etc is fine. Shop around online for the best deals.
Tip 3: Ambulance cover: Not all health insurances cover ambulance costs, or if they do cover costs, they only cover the first journey (eg you are not covered if you need to be transferred to another facility). With ambulance cover as low as $45 a year it is definitely worth considering for piece of mind. Potential savings are huge!
Tip 4: Consider doctors instead of emergency: If you child has a minor accident you can go to a bulk-billing doctor instead of the emergency department. You will save yourself an agonising wait, and also some cash. Most importantly you will also get better treatment. In our humble and limited experience, GP Doctors do a very good job at stitching things up.
Tip 5: Have simple Birthday Parties: You really don't need to go over the top with Birthday Parties. Kids like simple parties where they get to ice their own cup cakes and spend some time running around and playing together. Anything else is just an added bonus. So go simple...the whole idea is to have fun. Bobo the clown and the bouncy castle are good in theory, but when the clown starts getting attacked and kids concussed on the castle, you'll be asking yourself whether that was money well spent.
Tip 6: Limit your kids to one or two activities: We are always amazed at how many activities parents put their children into. Limit your children to one or two activities at a time at the most. Your children will be more likely to excel in these two activities, and will benefit from the downtime that they have. All the time driving to and from activities all week does no one any good. You may think you're helping them, but you're not. Just a couple of activities are fine.
Tip 7: Buy second-hand musical instruments: Until you know that your child is really going to love one instrument, it is best to buy cheaper second hand ones. Let them try a few and then when they find one that they like, commit to a new instrument.
Tip 8: Give your children an allowance: An allowance, which covers social activity costs, is a great way for you to save money and also for your children to learn about money. Rather than spending money on your children every time you go out, give them an allowance once a week or month (whatever your pay period is) and let them manage the money themselves. If they spend too much early in the week, don't give them any more, let them learn a valuable financial lesson. So they need money for food, well that's one lesson they won't forget.
What can we say, the above eight money saving tips will save you money. Follow them all and you will see a change in your bank account, and you will also see your children become more mature by managing their own money.
About this Author
Rusty is an affiliate marketer with eight years experience. His areas of expertise include SEO, articles, ezines, blogs and PPC. Rusty is particularly interested in the areas of goal setting, time management and financial and money management. Rusty is married with three young children, is an Australian national and currently lives as an expat in the Middle East. If you want to check out all his money saving tips visit http://www.1000moneysavingtips.com or http://www.1011moneysavingtipsebook.com
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