Cutting down on parenting costs

According to a 2013 report issued by the U.S. Department of Agriculture, the average cost of raising a newborn in 2013 is estimated at over $245,000. The majority of the expenses would be attributed to housing and transportation with an estimated expense of over $100, 000. The others major costs include education, food, clothing and health care. All of them are basic needs. So how do we cut down on them?


When it comes to housing, you would not necessarily be able to make huge changes in your expenses, unless you decide to downsize for a smaller house and move out. You might also opt for lower rents. If you are in need of space, instead of renting or buying another house, you can opt for shared rooms.


To save on food you might consider buying generic food items rather than branded ones. You could also go shopping on Wednesdays when the shops stalls are full of discount items. When going out for dinner, opt for water as the main beverage. Above all, avoid leftovers around the house to prevent food from going bad.


If order to save on clothing you might want to buy clothes off-season. For instance, stock up on summer clothes while it is still winter. You could also give thrift stores a try and find good quality second-hand items there. Generally make it a rule to buy clothing items only when they are on clearance to avoid impulsive buys.