Having children is a blessing for many reasons. Unfortunately, it has also a big impact on your finance. Being a father twice now, I have to overcome two issues: the raise of expenses and the drop in my wifeâ€™s income. Being more frugal seems to be one of the best solutions to compensate for these two financial issues. Then, I decided to create this series in order to share with you my tricks and my thoughts about this topic; Frugal with babies. The very first thing I noticed when we find out that we were going to be a parent for the second time was: there are people around you that care. You should accept their help and while building stronger relationships, you will have the opportunity to save a lot of money.
There is nothing better than grandparents for babysitting
They know what there doing as they already went by it all, they are reliable and always looking forward to see your children andâ€¦ they do not cost anything! My parents and my in-laws just love to take care of my kids. While they are having fun with them, it gives my wife and I a great opportunity to relax and rediscover the couple we used to be. We are never worried about what could happen or if we are late or not. This is just the perfect situation!
Co-workers can help too!
How many of your colleagues have older children? You probably know some of them. While I was never going to ask anybody at work for clothes or toys, one of my newest co-workers gladly brought a huge bag full of clothes for Amy. I was totally speechless. I could not believe that this guy that your came two months ago gave me for I donâ€™t know how much in baby clothes. On top of that, for my first one, everybody at work pooled together and offered a gift certificate. We then bought several useful things such as a babyâ€™s chair for William. Co-workers are definitely a great help when you have a baby!
Brothers, sisters, godmothers and godfathers
Your close family might not have a clue about what would be the best to offer to a newborn baby. How about a contribution to an RESP? This money will grow over not less than 20 years and will definitely be a great push to your childrenâ€™s future. It will also help you out bearing the burden of a newbornâ€™s expenses without having to worry to much about their education.
Do not get me wrong, these frugal tips are not given to abuse your relatives. Every time that someone around me gives us direct on indirect financial help for our children, I take good note and surely give it back by another means. The chain goes like this: the more you give, the more you receive. Being frugal sometimes mean being more generous in other ways than money.
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