Money-Saving Tips for Kids from Birth to 18

Money-Saving Tips for Kids from Birth to 18

adapted from an article by by Julie Rains, Wise Bread.com

 (http://www.wisebread.com/from-0-to-18-frugal-tips-for-every-year-of-your-child-s-life?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+wisebread+%28Wise+Bread%29)

Age 0

·         Set up a 529 college savings plan for your child. Fund the plan with gifts from grandparents, aunts, uncles, friends, neighbors, colleagues.

Age 1 

·         Buy clothing and toys at community consignment sales. You may be able to shop the preview sale (and snag the best buys) if you volunteer to assist with the event. 

Age 2

·         Limit Christmas or holiday gifts to three gifts (or fewer if you are a minimalist).

Age 3 

·         Access free services such as speech therapy, which may be available through your town's school system. 

Age 4 

·         Read to your kids. One of the easiest, cheapest, and best ways to help kids do well in school is to read to them when they are young.

Age 5 

·         Buy school supplies when they are on sale. Having items on hand will keep you from paying full price and save time during the school year.

Age 6 

·         Take your kids out on the town in the evening for free concerts and entertainment.

Age 7 

·         Teach your kids to resist the allure of advertised goods.
 

Age 8

·         Visit museums, zoos, and gardens on free community days. Pack a lunch and snacks to avoid paying what are generally high cafeteria prices.
 

Age 9 

·         Sign your kids up for free summer programs sponsored by community groups, public schools, church groups, etc.
 

Age 10 

·         Teach your 'tweens to handle basic household tasks and take steps to conserve energy (and cash) through shorter showers, use of cold water to wash clothes, etc.
 

Age 11

·         Take the kids to offbeat yet fun vacation spots, which may be much less expensive than more popular places.
 

Age 12 

·         Get dental cleanings, haircuts, and other services from students at your local university, community college, or trade school.
 

Age 13 

·         Open a savings account or investment account for your teen so he or she can begin saving or investing.
 

Age 14

·         Encourage them to sell their stuff for spending money. Provide guidance on selling via yard sales or eBay.

Age 15

·         Encourage your teens to volunteer and get accustomed to interacting with people with limited resources. Help them to appreciate what they have and better understand the need to be good stewards of money and talents, both frugal life skills.
 

Age 16

·         Don't rush your teens to get their driver's licenses; enjoy teen-free auto insurance rates as long as you can.
 

Age 17

·         Save money on college by taking AP classes in high school or attending early college to earn a combination Associate's degree and High School Diploma.
 

Age 18

·         Let your kids do research on colleges and universities so they can see firsthand how inexpensive in-state tuition is compared to private and out-of-state colleges and universities.