Lets face it — its expensive having kids. From the beginning, buying clothes and diapers, to later in life paying for school and college, can make it difficult to save money.  To help you save money if you have kids, here are some spending and saving tips and advice.

Also, along with saving money, it’s critical to learn good budgeting skills. See our budgeting section for some helpful teaching and learning worksheets and lessons.

Cutting Costs on Clothing
Clothing is something you will be spending a lot of money on, and especially for younger kids, they will outgrow it quickly. So to save money on clothing, try to find discount clothing stores, or secondhand clothing shops for your child’s clothing. Also, try swapping clothes with friends and family who have older children.

Saving on Baby Items
A new baby will need a crib, car seat, stroller, and more baby goods. Again, check second hand stores and hand downs for these items. However, don’t cut corners where safety is involved. For example, in the case of a car seat, you want to make sure the seat is very new and passes all current safety regulations, and has not had any recalls.

Kids and Tax Savings
Having children changes your tax situation. You will receive a tax exemption for each child in your family. Also, you may want to research putting investments into your child’s name, since money they earn can often be placed into their tax bracket instead of your own.

Swapping Toys
Instead of buying lots of expensive toys, consider buying fewer toys, and then swapping them with friends and family. Kids quickly lose interest with their toys, but often have a greater interest in new toys. By swapping, you can increase the frequency of new toys without spending additional money.