Tips For Treating Your Kids Without Tanking Your Finances

Tips For Treating Your Kids Without Tanking Your Finances

It’s okay to admit it. We parents all share a common weakness… We love nothing more than indulging our kids. While we may never want them to grow up spoilt, we also love nothing more than to spoil them. Especially when they do so much to earn it! When our kids do well in school, play well with their friends and siblings, or do something nice for others we want to reward these good behaviours while also scratching that familiar parental itch which is the urge to lavish them with goodies.

However, there’s a fine line to be walked when it comes to treating our kids and all parents know it. Many a well-meaning parent has driven their household finances to rack and ruin by spoiling their kids. Seeing our kids’ faces light up when they enjoy a special treat is a high that parents can find themselves constantly trying to chase, at their own expense. Here we’ll look at some wonderful ways to spoil your kids that won’t break your carefully planned household budget.

If you need to borrow, borrow smart!

For the majority of this post I’m going to suggest options which balance fun with thrift for budget-friendly ways to treat your kids. However, there may be circumstances (like a big birthday or a special achievement like stellar exam results) which may require some more lavish spending. This may necessitate some borrowing, and that’s absolutely fine. Borrowing and accruing debt are not inherently bad so long as you borrow smart. Here are some ways to do just that;

  • Take advantage of credit cards with 0% introductory offers (and transfer the debt to a new card once the offer period expires).
  • Be sure to review all of your options. You’d be amazed at how many you have.
  • Use an interest calculator so that you know exactly what your monthly repayments will be.
  • Don’t assume that just because your credit rating is less than spectacular that you only have poor options. If you can get a guarantor to co-sign your loan you may find yourself able to compare guarantor loans and find a great deal.
  • Borrow only what you need to. The temptation to borrow a little extra for a rainy day is understandable but remember that interest!  

When you borrow smart you can indulge your kids while keeping your household finances sustainable.

Adopt a one-in one-out policy when it comes to toys

What better way to treat our kids than with a toy which we know that they’ll love and cherish? The trouble is that we remember from our own childhood just how capricious kids can be when it comes to their toys. They love them intensely for a few weeks or even months, but when the new fad rolls around (and it will), their old toys will lie, forgotten, at the bottom of a box.

Instead of cluttering up the place with old toys, instigate a one-in one-out policy for toys and either give the discarded toy to charity or put it on ebay (you’d be surprised how much money it could make).

Make them their favourite takeaway treats

One thing we have in common with our kids is that we all like nothing more than an indulgent takeaway to celebrate a special occasion. However, doing this too often can be an extremely pricey habit. However, with the right ingredients and a little ingenuity, you can replicate your favourite takeaway and fast food treats. You can even find alternatives which are healthier yet just as delicious for those worried about their kids’ diets.

Bake something delicious with them

What says celebration better than a delicious cake? But, instead of throwing a fortune away on buying one, why not bake a delicious cake? Or, instead of baking it for them, bake it with them. Baking is an easy and fun exercise for the whole family and one that teaches them an important life skill… While leaving them with a delicious treat at the end of it!

Midweek treats

Okay, of course there will be times when you’d much rather not cook. But you still want to spoil your little one without breaking the bank. The solution? Opt for midweek treats instead of deferring the fun to the weekend.

Most restaurants, especially chains, have enticing midweek offers to get customers through their doors on quieter days.

Find fun that doesn’t cost a thing!

Fun shouldn’t need to cost the Earth… Or anything at all for that matter. There are a plethora of fun days out for the kids and the whole family that won’t cost you a penny… Yet they’ll leave your little ones with memories that they’ll always treasure.

With a little shrewdness, you can give your kids a blessed life without costing a fortune.

*Collaborative post


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