Saving money can be tough when you have kids especially if you are a single parent. However, it is indeed doable.
In this article, we’ll take a look at several strategies you can implement to save more money as a single parent. Some of these may surprise you!
Table of Contents
1. Ask for dented baby formula at the store
Baby formula is really expensive right now in the US due to the baby formula shortage.
Here’s one thing a lot of parents don’t know, some stores keep damaged baby formula at the back of the store.
People don’t normally want to buy damaged products but it’s inevitable that some products do get damaged while being shipped to the retail store, so many of these damaged products are not put on the shelf. They keep those in the back of the store or they throw them out.
You may try your luck asking if they have any dented baby formula. They may sell it to you for a lot cheaper.
You don’t want to do this with canned food however since dented canned food can cause botulism.
Slightly dented dry baby formula powder would be fine in most cases. Still, if you aren’t sure if it’s too damaged, you should still just opt for the undamaged full-price baby formula.
2. Swap clothes with your mom-friends
Believe it or not, your kids don’t have to dress like a supermodel all the time.
It’s okay to dress your kids in hand-me-downs or second-hand clothes.
You can set up a swapping system with your friends who have kids roughly the same age as your kids.
You can also give the old clothes of your kids to your friend’s younger kids as a way to return the favor.
3. Ask your friends and family to babysit
Hiring a babysitter can be expensive. The cost does add up.
You can ask your friends and family members to help babysit your kids for free and compensate with a nice warm meal.
And then course, you’d have to return the favor should they ask you to babysit their kids in the future.
4. Make toys yourself instead of purchasing
There are many ingenious ways to create toys for your children so you don’t have to spend hundreds of dollars every month to keep them entertained.
A quick search of the internet will reveal many ways to create toys for your kids for cheap.
Click here to read this article on homemade toys.
Your kids don’t need as many toys as society makes every parent think.
5. You don’t need to get the best of everything for your children
Your kids don’t need the best of everything.
Prices of strollers, baby swings, toys, etc differ wildly. They are likely to outgrow these items very quickly so there is no need to get them the absolute best of everything.
You can opt for a generic brand that cost less or opt for toys with a bit fewer features.
That money is better spent on something else like a trip to the museum or the amusement park that your kids would love.
6. Teach your children how to delay gratification
Teaching your kids the art of delayed gratification means not giving them what they want right away.
I don’t mean that you should delay comforting your children if they are crying, delaying gratification is the art of delaying pleasure.
This is a lifeskill to master and one that is likely to aid in your children’s future success in various matters.
In a famous marshmallow study, children are given one marshmallow and told that if they could wait 15 minutes, they could get another one. Then, the researchers left the room and the children are left alone with the marshmallow in front of them.
Some children are unable to resist the marshmallow and eat it right away while others are able to delay it for longer. Some kids however are able to pass the marshmallow test with flying colors by successfully waiting the full 15 minutes and getting the second marshmallow.
Years later, when the children become adults, it is found that children who are able to wait the full 15 minutes:
- Scored higher SAT scores
- Have higher self-esteem
- Have better emotional coping mechanisms
- Less likely to abuse drugs
- Less likely to become obese
- Have a better general health
Delay gratification reinforces self-regulation skills.
Kids who are able to self-regulate better, are more able to choose school work before video games or TV and thus perform better at school.
They are also more able to choose work before going out thus more likely to perform better at work as well.
In the context of eating junk food, perhaps having a good self-regulation skill may allow one to opt for healthier options thus less likely to become obese and attain better general health.
This skill can be cultivated earlier in life when you refuse to give in to every demand from your kids right away which may also help you save some money.
For instance, if your children see an ice cream truck, instead of buying them ice cream because they want it, tell your kids that it’s cheaper to buy ice cream from the store than from the food truck.
You then take them to the grocery store where you can point out how the per-unit price of ice cream is cheaper.
This cement an idea in your kids about what shopping habits they will have in the future and they are also likely to see the value in delaying their wishes.
7. Don’t pay for expensive lessons
When I was in school, I would often hear my teacher complain about how expensive her kids’ hobbies are.
She had to pay $1000 per month for her children’s hockey lessons. And that was nearly 10 years ago. I can only imagine how much more expensive hockey lessons for seven-year-olds would cost now.
A lot of times, your kids just want the experience of playing hockey. You can take them to the hockey arena yourself instead of spending tens of thousands per year to have them professionally trained.
Of course, if you want your kids to grow up to be professional hockey players, that’s a different story.
What I’m saying is that a lot of those expensive lessons are unnecessary. Your kids would have just as amazing of a time learning from an amateur or from yourself.
If they do express the desire to learn more, you can always sign them up for more expensive programs later but hold off on investing so much into their hobbies when many of them will lose interest soon after.
8. Encourage your kids to get a part-time job
Depending on how old your kids are, you can encourage your kids to get part-time jobs.
Getting your kids to make their own money would make them realize the value of money and learn to manage money effectively while they are still young.
Some parents would require their kids to shop for their own clothes so the kids would find ways to make extra money around the neighborhood by mowing lawns and clearing snow in order to fund their new school year attires.
This would actually be a good practice to have. I first heard of this family tradition from a YouTuber.
It teaches your kids to be responsible for their own finances at a young age. You can start implementing this strategy on your kids once they are old enough to get part-time jobs.
It would also solve the problem of you buying clothes that don’t fit their taste. They make their own money and they decide what they want to wear. (Hopefully, your kids have good taste and are towards the modest end)
9. Don’t buy fast foods or convenience foods
Contrary to popular belief, fast food and convenient food can be more expensive than eating healthy. You’re often paying more for fewer calories.
This is what each of the following food cost at Walmart:
- Noodles ($0.92 per 454g box) x 2 = $1.84
- Tomato sauce ($1.40 per 685g can)
- Cheese ($2.22 per 226g bag)
- Ground beef ($4.34 per 1lb bag)
- Frozen brocolli ($0.98 per 12 oz bag)
You can easily feed a whole family of 4–5 with just $10.78 per meal.
However, the same tomato spaghetti with ground beef and broccoli from a fast-food chain would easily cost you over $10 per person per meal.
Sure, it would take you time to prepare but maybe not as much time as you think.
- Boiling noodles and broccoli (10 minutes)
- Preparing the sauce (15–30 minutes)
You can boil noodles and prepare the sauce at the same time so it’ll likely take you less than an hour to do all the cooking and cleaning up afterward.
Home-cooked meals can not only save you money but is a healthier alternative to ordering take-out or wasting gas money on a restaurant trip.
I know, you’re busy, how can you find time to cook? Well, it’s either you find the time to or you have to pay for takeout. You can definitely save money if you cook meals yourself.
10. Buy reusable diapers
Diapers are easily one of the biggest monthly expenses for parents with newborns and toddlers.
It’s also not good for the environment. This is why many parents are opting for alternatives to one-use diapers.
Luckily, a reusable diaper like this one exists.
It can be washed after each use, it saves you money, and it’s also eco-friendly.
11. Thrift shop
A lot of things get donated to thrift shops every day and many of those things has to be thrown out because there isn’t a demand for it despite it being perfectly good.
Here are some items you can thrift shop:
- Clothes
- Kids’ toys
- Stroller
- Kids’ table
12. Buy second hand
You don’t necessarily have to get a brand new everything for your kids. Sometimes secondhand would do just fine.
Here are some things you can acquire for your kid’s second hand:
- Stroller
- Clothes
- Toys
- Books
Buying things secondhand can save you a lot of money and can help give a second life to things that otherwise would contribute to more landfill problems.
13. Don’t drive
I know this one can be tough for certain parents especially if you live far from everything but it is indeed possible to not own a car given the right circumstances.
If you live close to the mall, your workplace, or your children’s school, you can decide not to own a car.
Car is one of the biggest household expenses following rent/mortgage. If you can get rid of your car, you’d be able to save $10,000+ per year.
14. Hold yard sales
Once your kids have outgrown some stuff, you can hold a yard sale to turn those objects into cash so you can use it to fund next year’s necessary purchases for your kids.
This is also a great way to declutter because we all know how messy a house can get with kids.
15. Grow your own food
It’s actually pretty easy to grow your own food. You can keep the stem of vegetables intact and replant them to get fresh vegetables and fruits year-round.
Of course, you may not be able to grow all your food but it can certainly supplement some things you’d have to get from the grocery store otherwise.
16. Pay all your bills on time
Banks will charge you interest if you don’t pay your credit card bills on time so you want to make sure to pay everything on time to avoid paying any extra fees.
17. Take cheap snacks with you when out
It’s easy to fall into the habit of ordering from fast-food chains or food trucks when you’re out with your kids.
Most parents would make sure to feed their kids right away if they are hungry and when you’re out, your only option would be to buy from food vendors.
Unless you bring snacks with you when you’re out. That way, you’d be able to save a lot of money and you keep your kids happy.
18. You don’t need a landline
If you are already paying for your cell phone bill, you may not need a landline.
More and more people are ditching their landlines because they do all their calls from their phones.
You really don’t need a landline. Have everyone call you via your cell.
You can save an additional $40 — $80 per month without a landline.
19. Always shop with a grocery list
Always shop with a grocery list and make sure to stick to it.
If you don’t shop with items in mind, you may find yourself getting a lot of unnecessary things and ends up paying more than you planned.
If you do deviate from your grocery list, make sure you have good reasons.
Grocery stores implement tactics to keep customers in the store longer so you want to get the stuff and get out as soon as you can.
20. Cancel Netflix subscriptions
You don’t actually need to subscribe to anything as there are plenty of things to watch on YouTube.
With billions of videos, I’m sure you can find some videos to your liking.
Your kids also don’t need to watch Netflix. There are shows dedicated to kids available on YouTube.
It’s better than paying for Netflix when your kids only watch a few shows on repeat.
21. Don’t give your kids everything they want
It’s a huge mistake to give your kids everything they want even if you could afford it comfortably.
First of all, you don’t want to pamper your kids too much that they become unable to extend empathy to the less fortunate.
I’m sure we’ve all seen how spoiled children behave and the last thing you want is for your kids to end up like that.
Giving your kids everything they want right away would make them depend on instant gratification and they may find themselves unable to persist when working towards a goal because they had everything delivered to them right away as kids.
Not giving into every desire of your kids can save you money and also teach them how not to depend on obtaining objects for their main source of happiness.
Final thought
There are truly many ways to save money as a single parent. I know it can be tough raising your kids on your own but you can do it!
Here’s to all the amazing parents out there!
Which one of the strategies above are you going to try next? Comment down below!
