Recent Family News
Should you expand your family?The decision to have your first, second, third, forth or fifth child is one that involves a lot of contemplation for most couples.
While some base their decision on emotional factors, many others think about the costs associated with raising a child first and foremost. According to the U.S. Department of Agriculture (USDA), which analyzes costs associated with housing, food and other necessities, says that the average cost of raising a child born in 2010 until the age of 18 averages just under $227,000. And that's not including college tuition!
But experts say even though providing for a child can be expensive, there are a lot of ways to save money.
"Think about the smart things your own parents did to make it work when you were growing up," LearnVest financial planner Stephany Kirkpatrick recently told The Huffington Post. "Cook dinner and eat leftovers the next day. Use coupons! It might be old-fashioned, but they're there for a reason."
Accepting hand-me-downs of clothing, baby gear, toys and other items from friends and family members can also keep costs manageable.
Opting to purchase secondhand items such as used baby clothes, furniture, baby gear, toys and books can also help those on a budget stretch their money further.