Lifestyle
Although children bring a lot of joy to their parents, it's hard to deny that raising them is expensive. Between school tuition, the clothes they seem to grow out of every month, and doctor's visits, it's easy for parents to feel financially overwhelmed.
But whether you're a parent-to-be or already have a newborn, a child, or a teen, we have tips that will help you feel less financially overwhelmed!
Here are 7 ways to save some money as a parent:
Plan meals ahead of time
You know how people say not to go grocery shopping when you're hungry? They're not wrong. But we have other advice: don't go grocery shopping until you've created a breakfast, lunch, and dinner menu for the week.
This way, you will know exactly what to shop for at the grocery store and won't be tempted to pick up extra things. Not to mention, it will keep you from ordering takeout during the week.
And while we're on the subject of groceries, think locally grown oranges and apples instead of imported pineapples and papayas. Buying local produce isn't only better for the economy, it's also better for your wallet.
Buy in bulk
While buying in bulk means you will pay more upfront, it's especially worth it if you've got several mouths to feed, as you will almost always pay less per unit.
Plus, stocking up on food and other household goods will make it less likely that you will need to make multiple trips to the grocery store, thereby reducing your transportation expenses and impulse buys.
Don't compromise on quality
We're not telling you to go for the most expensive goods in the market. We're telling you not to skimp on quality when buying everyday items like clothes and shoes.
Investing in high-quality clothes for yourself and your children will save you money in the long run, as you won't have to replace them as often as you would with lower-quality items.
This tip is especially relevant if you plan on passing down your older child's clothes to your younger one after a few years. Trust us, we would know, as longtime hand-me-down wearers!
Shop during sales
We understand that the shopping strategy we mentioned in the previous point may not always be financially feasible, so here's another tip that is!
Why not plan your shopping trips according to when there's a sale?
And if you're a parent of a newborn or toddler, why not buy the next size up for your child in clothing or shoes during this time?
Keep birthdays simple
No 3 year old needs a double-decker birthday cake! We're sorry, but someone had to say it!
We know that you want to give your child the best memories. But contrary to what you may think, what matters most to kids is playing with their kindergarten friends - not how much you've spent.
So, create a saving goal, set a realistic target, and regularly transfer funds to it so that when it's time to buy party supplies and gifts, you will know exactly how much you can spend.
What's great about creating a saving goal on our mobile banking app is that you can round up your purchases to the nearest JOD and transfer the change to your saving goal.
For example, if you pay 3.50 JOD with your card, 0.50 will be transferred to your saving goal. The amount may seem little now, but it adds up over time and will help you reach your goal faster. You can even accelerate reaching your saving goal by multiplying your round up by up to 10x!
Consider alternative heat sources
Some people may resort to diesel boilers to generate heat in their homes this time of year. And although diesel boilers are an excellent source of heat, diesel fuel is extremely costly.
How costly? Suppose your fuel tank is around 1,000 litres. If you were to fill it all the way up, you would have to pay about 1,000 JOD!
This is why we recommend you go for gas and electric heaters instead. They're not only energy-efficient but are also more cost-efficient than diesel-powered heaters.
Save as you spend
You get instant cashback of up to 3% on all purchases when using any Bank al Etihad card. Don't have a Bank al Etihad card? Apply for one here.
And before you ask, the answer is yes. You also get cashback on your child's school tuition if you pay with any of our cards!
We hope that you have benefited from these tips. Following them can help make a big difference in your monthly and even yearly household expenditures.
