I read a report from the Agriculture Department’s Center for Nutrition Policy and Promotion that estimates it cost $235,000 for a middle income family to raise a child.
Wow, that’s a lot of money. As a single mother if you look at the total it can be completely overwhelming. The largest portion of this is housing taking up 30% of the total. Daycare also takes a big bite as more women work outside the home, and if you are a single mother chances are you don’t have any choice but to work outside the home.
Kids are expensive there’s no doubt about it and when you are figuring out how to pay for everything alone it can feel hopeless.
Some things you just can’t skimp on, like housing and daycare, so you have to cut corners where you can.
When I first got divorced I didn’t have a car, Hailey and I walked everywhere, including the grocery store. I bought one of those wire carts with wheels to carry our groceries home. At the store I bought as many generic items as I could and made a lot of casseroles. Usually meat is the most expensive part of the meal so casseroles allow you to stretch it over several days. Spaghetti was also a favorite and usually lasted more than one meal while using very little meat.
Another way to save is by buying clothes at thrift stores and yard sales. Kids usually outgrow their clothes before they outwear them making thrift store clothes an even better bargain because you can usually resell them at your own yard sale when your kids outgrow them.
For entertainment, don’t forget the library. In addition to books you can borrow movies and music.
It takes a lot of money to raise a child but with a little planning and some work you can cut corners to make it less expensive.