As parents, we have to budget for everything – not just the mortgage or the grocery shopping. We have to have haircuts, clothes, new shoes all at the back of our minds at all times so that the kids aren’t missing out on anything. Parents have a lot to consider and with school-age children, the budget seems to stretch to meet all the new things that pop up during the school year. And there is a lot of stuff that pops up!
Finding the space in your budget to fit all of these things in may seem hard, but you can use calculators on sites like Pigly.com to manage it all. If your kids are heading into school, it’s good to know what’s ahead of you and what you may need to put in the budget. So, we’ve put a list together of all the things that you will need to budget for if you have children.
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- Gifts. Believe it or not, you will have to budget for gifts for teachers. At the end of the year, teacher gifts are the biggest expense for a lot of parents – especially if you have more than one child. You can go for small things in your budget if you want and still make a lovely gesture!
- Donations. You will find that your kids come home with letters that dictate parents need to pay for something that they may not have budgeted. This includes everything from classroom resources to fundraisers and even days where non-uniform is offered in exchange for cash.
- Supplies. Children need new supplies and new uniforms every year, and you have to fit this into your budget. Saving ahead of time makes this a far more bearable expense if you have saved for some time. You need to supply a new school bag and coat, too, and your child will likely have grown out of their shoes.
- Field Trips. Schools often put field trips on for the kids, and while some of these may not cost much, you could find that you pay much more than expected for field trips. Keep a budget aside to cover the unexpected, and you will find that this is going to go in your favor when they crop up at the last second.
- Costumes. You’ll be sitting on a Sunday evening and your child will tell you that the next day, they need supplies for a costume for school. Cue panic! You can avoid the panic by simply having a stash of costumes, face paints and fabric paints to hand. You have to budget for these, of course, but at least no one goes without!
- School Photos. Photo day at school is difficult, as it can be expensive to buy those photo packages. If you plan in advance for these packages, though, you’ll be able to afford those packages entirely.
Schools and children can cost a lot of money, even without subsidies and charges. Consider each of these in your budget for your children.