Considering the leap into parenthood? Perhaps you’ve inadvertently found yourself with a little one on the way. (Whoops!) While your top priority is undoubtedly what’s best for your child, it’s natural to wonder about the financial implications: Can we really afford this?
Fear not! Surprisingly, having kids can lead to some unexpected savings. Here’s how:
- TOILETRIES: Once you become a parent, personal grooming becomes a luxury. Showers, deodorant, and even basic dental care may take a backseat. Expect a significant reduction in your use of toiletries—think about one-eighth of what you used before. If you’re blessed with multiples, it might be even less!
- CLOTHING: When was the last time you needed a tailored outfit? Likely, the next occasion will be a big milestone for your child or your own farewell party. Until then, you’ll be living in a cycle of the same few pairs of yoga pants and tees. Even if you return to work, your wardrobe will likely consist of machine-washable, wrinkle-resistant clothes—goodbye dry cleaner bills!
- HOME DECOR: Get ready for chaos! Your living space will no longer resemble a Pinterest board. With toys, baby gates, and remnants of snacks everywhere, it’s a given that the quest for chic decor will fall by the wayside. You might just want to hold off on redecorating until the kids are out of the house!
- SOCIAL LIFE: Remember those brunches and casual evenings out with friends? Say goodbye to the carefree social calendar. Your budget for “me-time” is about to shrink drastically as you prioritize parenting duties over social engagements.
- HOBBIES & ENTERTAINMENT: Forget about your favorite pastimes. Whether it’s binge-watching shows or reading novels, time for personal enjoyment will become scarce. You might find yourself trimming those subscriptions and minimizing entertainment spending altogether.
- INTIMACY: If you were using birth control before baby arrived, consider your expenses in that area gone. With the added demands of a newborn, intimacy will likely take a backseat, making it another way to save some cash.
- DINING OUT: Initially, you’ll avoid public places with your newborn, and soon after, your toddler’s picky eating will have you tossing your organic meal plans out the window. You’ll find yourself resorting to quick and inexpensive meals that your child will actually eat—canned soup, anyone?
- TRAVEL: Planning a vacation? Good luck with that! Traveling with kids can be a logistical nightmare and often ends up being more trouble than it’s worth. Staying home is not only easier, but it’s also a lot more budget-friendly.
- CLEANING SERVICES: Once you become a parent, your housecleaning service might be a luxury of the past. With unpredictable nap schedules, it’s nearly impossible to coordinate a cleaning. You’ll quickly realize that hiring help isn’t necessary when your little ones can be turned into free cleaning helpers—just don’t be surprised if they choose to “clean” their toys instead!
- TAX BENEFITS: Kids can actually lead to some substantial tax deductions. The more children you have, the more deductions you qualify for, making it feel like the government is encouraging you to expand your family.
So there you have it—ten surprisingly beneficial ways that having kids can save you money! Now, go ahead and reassess those budgets. You might even find a few extra pennies for a little treat or a lottery ticket. If nothing else, just wait until tax season rolls around!