Monday, April 19, 2010

How to save money as a stay at home dad or mom

So you've quit your job to hit the big time. It's just you, the kids, and the bills. Being a stay at home parent is rewarding in so many ways, unfortunately it's rarely reflected in your bank account. Don't fret, I have a few solutions for how you can save money.

  • Stop buying disposable diapers.
Take a look at how much you spend on disposable diapers. I'm guessing it's in excess of $50.00 a month per child. For a small upfront fee you can buy modern reusable diapers that can be used from child to child. These aren't your mothers diapers, they're Velcro (no pins!) and easily washed in a normal washing machine. We bought 15 BumGenius diapers for my son and they'll last us about 3-4 days before I have to wash them. The upfront cost was about $300.00. After 6 months they're paying for themselves. If you use them for another child You also have the peace of mind of not putting a non-biodegradable diaper in a landfill.
  • Thrift Stores and garage sales.
While many parents will venture into consignment shops, very few brave the world of thrift stores and garage sales. Don't be one of them. Children's clothing has the unique quality of being worn for a very short time. That means the item you're purchasing is usually very gently used. I've encountered many items that still have the original tags. I'm able to purchase these items at about a tenth of the retail price. Thrift stores are probably the best bet for a wide variety of clothing, though a garage sale has the appeal of "The Big Score." Once you happen upon the size you're looking for at a garage sale the odds are that there are dozens of items in that size. Garage sales are also usually the cheapest option. Hit nice neighborhoods and start buying brands like Gap for Kids and Polo for $.25 to $1.00.

Fear not the danger of dirty clothes, one cycle in the washing machine will produce clothing as clean and sanitary as new clothing, perhaps even better. Think about it, that new item of clothing you're buying was probably made in a dirty factory somewhere in Asia by an overworked seamstress that didn't have running water in her bathroom. Then it was placed in a dirty shipping container and hauled overseas and overland for a few weeks. Finally it makes it to the store where numerous people handle it and try it on in the fitting room. Beyond a pleasant new clothes smell, you're not getting a more sanitary product by buying new.

  • Ebay, Craigslist FREECYCLE!!!
Now that you're diapers and clothes are covered it's time to move on to the big ticket items. Toys, cribs, dressers, etc. You have a few options for these. The above mentioned garage sales and thrift stores are a great place to start. The newer entries to the market however are Ebay, Craigslist and Freecycle. You're probably familiar with Ebay and Craigslist which are places where individuals and businesses may sell their wares. However, a new lurker to the scene is a service known as Freecycle http://www.freecycle.org/. This is a service where people can post or request items they would like to get rid of or offer for free. It is against Freecycle policy to sell anything on freecycle or obtained from freecycle. I have been able to obtain an amazing amount of very high quality goods from this service. I've also been able to get rid of things like old lawnmowers, cabinets from a remodel, bookshelves etc. To date I've been able to obtain; a plethora of toys, clothes, a brand new jog stroller that just needed a couple new inner tubes, out door toys etc. It's a great service and shouldn't be overlooked.

With a little bit of work you can easily save big bucks on child gear by using the above services. While staying at home can be expensive, it doesn't have to be.