Save Money Magazine

Save Money by Being a Tough Parent

Raising kids is not cheap! When you add up all the expense of food, clothes and activities, it can add up to a small fortune. And who has that these days?  But it can be done, if you follow these simple rules.

Think about your spending

The first step is to stop spending money thoughtlessly. Think about what you’re purchasing and why.  The more children are exposed to advertising, marketing, branding and peer pressure the harder it will be to say no to them when they want something. Your chance to overcome this is to limit their exposure to all this by limiting TV watching and internet usage. Also teach them the value of saving money and earning your money. It’s time to teach kids that money doesn’t come from ATMs.

Learn to say ‘no’ and stick to it

How hard is it to say no and stick to it when the kid are pleading and nagging with you? Let’s face it; kids are the best negotiators in the world. They are persistent and relentless if they want something until they wear you down. I see many parents give in just to have some quiet to the smug satisfaction of the kids.

However if you want to stick to a budget and avoid over spending you must stick to your guns, no matter how difficult. Saying No does not hurt your kids! It doesn’t kill them in fact it will make them respect you and your word more. It will also teach them that badgering and pleading will get them nowhere.  However if you are really desperate set some boundaries before giving in. Tell them that they can have the wanted item if they are wiling to give up something in place of it. Such as: you can have the toy if you are willing to give up the movies this weekend. Than all you have to do is be strong and stick to it and remind them of the deal if they’ve forgotten it.

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