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Parenting can take a big chunk out of your budget. Food, clothing,
and child care are necessities; however there are ways to take control
of other costs. According to MSN Money, parents spend $225 to $350
for food; $50 to $75 for clothing; and $300 to $1250 for child care on a monthly basis for each child.
To save money, consider these tips:
- Brown-bag lunches
- Grocery shop alone and after eating
- Buy snacks in bulk and repackage them in plastic bags
- Grow some of your own food
- Shop at discount stores, thrift shops and resale or consignment stores
- Buy clothes a season ahead
- Shop online so it's easier to make comparisons
- Use the child and dependent care credit
- Ask you employer about flexible-spending accounts which allows you to save on taxes by paying child care costs with pretax dollars
- Telecommute, job-share or work flexible hours to reduce time away from home
- If your school district offers a free half-day pre-kindergarten program for 4 year-olds or a free full-day kindergarten, enroll your child
The Family Budget Calculator
The Economic Policy Institute has published the Basic Family Budget Calculator. This calculator allows you to determine the income needed for particular types of families to make ends meet. Simply select from one of six family types, pick a state, and then select a community to see how much that family is likely to need for housing, food, child care, etc.
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