A lot of us underestimate just how expensive family life will be. In the UK, we’re lucky, because thanks to the National Health Service, family life is much cheaper than in the US. However, the expenses that come with parenthood can still leave a pretty sizeable dent in your bank account. The truth is, a lot of families struggle when it comes to money (myself included). This is because there’s not enough of it to cover all of the monthly costs.
The good news is that it is possible to cut costs, it’s just a case of knowing how to go about it. The key to success is knowing why family life is so expensive, and also, the best methods of cutting costs. If only money grew on trees, we wouldn’t have this issue. Unfortunately, all money trees grow is leaves, so when it comes to making family life more affordable, we have to find our own methods of doing so.
To do that, first, it’s important to understand what makes family life so expensive. Then, the next step is to work out the best methods of cutting costs.
Why is family life so expensive and how can you cut costs?
The cost of childcare
One of the most expensive parts of raising kids is the cost of childcare. According to research, on average it costs between £5000 and £6000 a year for part-time childcare for children under three. That’s a lot of money to spend on childcare.
To reduce the cost, it’s worth considering whether working is worth it. Are you earning enough money to make paying for childcare worthwhile? There are a lot of work from home opportunities available now. Perhaps it would be better to work around your kids, rather than paying for childcare? Or, perhaps it could be worth seeing if any of your relatives would take care of your little ones for you while you work.
The expense of essentials
Children need a lot of stuff, from clothes to toys, there’s always new items on the list. As parents, keeping up with the cost of clothing our children, for instance, can be a struggle at times. When it comes to the essentials that you need for family life, from child care equipment to clothes, the important thing is to be a savvy shopper.
This means being smart about where you shop. Discount stores can be lifesaving when it comes to cutting costs, for instance. It’s also important to take advantage of voucher codes, such as those on sites like DontPayFull.co.uk or Magic Freebies Lastly, don’t be afraid to buy second-hand – as long as the item is in good condition, it doesn’t matter if it’s second hand.
Food costs
Another high expense that a lot of families struggle with is the cost of food. On average, the majority of UK families spend between £85 and £150 per week on food, depending on the size of the family. When you add that up over the course of a month, that amounts to a lot of money. The good news is that cutting food costs is actually much easier than a lot of us would think.
The first step to cutting your family’s food cost is making each and every meal from scratch. Not only will this save you a lot of money, but it will also ensure that your family is getting a healthy, wholesome meal. It’s also a good idea to shop in your local supermarket’s reduced section for food, as it can be a quarter of the price you would normally pay. You can then freeze it – both meat and vegetables, and get different items out as and when you need them. For ideas for cheap, family meal ideas, sites like JamieOliver.com can be useful.
So there you have it, a guide to the things that make family life so expensive and how to cut costs.
Disclosure: this is a collaborative post, all opinions are my own
Thank you for reading - if you enjoyed this content, please consider buying me a coffee here or browse my Amazon wishlist I really appreciate your support and it helps to keep the site running and for my time 🙂