Smart Spending

“Does your spouse work or are they a stay-at-home parent?” That’s a funny question, because it eludes to the idea that stay-at-home spouses don’t work, whether that’s the questioners intention or not. My wife is a stay-at-home mom, and I can tell you right now: she works harder than I do most days and I have a “real job.”

There is a time for quantity and a time for quality. There is a difference between cheap and frugal. Being a good financial steward doesn’t mean being cheap. Quality usually lasts long enough to make the prices come out the same if not better.

What kind of financial future do you want for your kids? A successful future? A debt-free future? An intentional future? Since more is caught than taught (i.e. actions speak louder than words), we often say we want this financial freedom for our kids, and continue to live in financial ruin.

My friend bought a new car last week. His car had broken down three times in the few weeks prior to buying his new car, and each time left him stranded on the side of the road. He found a permanent solution for a temporary problem.

It costs an average of $233,610 to raise a child from birth to age 17, according to a USDA study. What all does that cost include? Is there a way to do it for less without sacrificing the important stuff? Let’s look through the different types of expenses, how to reduce the costs, and how to live differently.