One thing that no one can ever know in advance is when you will need to spend some money for your children. If you take the time to plan properly you will have enough money for emergency expenses that tend to just pop up during the course of the year. There are several things that fall under this particular category. This list of expenses can include glasses, emergency dental care, doctor visits, and that is just a few. There is also the added clothing expenses, that many parents find themselves spending during the course of the school year. Most parents try to get clothes a bit larger when shopping for kid’s items, but some kids can grow faster than expected.
One way that you can go about preparing yourself for these expenses is to take the time and set up a separate account. If you don’t want to go through the trouble of setting up a separate bank account you can keep a money box in your home to put your change in. Having a change jar, or a money box that can be stored in your home, is a great way to set aside money. You can find a nice small sized fireproof lock box at any office supply store. Whenever you have change left in your pocket you can easily place it in the box. You can also set aside a set amount of money each month. By just setting aside ten dollars a month into a jar you will have enough when those emergency expenses tend to pop up. You can easily add more if you need it. I would recommend that you start this during the summer months so that you will have a head start when school begins. During the school year is usually when many expenses tend to pop up.
By taking the time to plan in advance you will be sure that you have enough money to spend, when needed. You will also find that this lowers your stress level for those expenses. Many parents find themselves stressed out when they have to scramble for money when their kids need something. Since many find themselves on very tight budgets nowadays, this will help with managing your money. This is especially important if your child is involved in some sort of sports. Even if you do have insurance you will find that those co pays can add up quickly if your children injure themselves. Some parents have even found that using a notebook to keep track of how much money they are putting in their change jar will help to save the needed amount of money. Set a monthly goal for how much you want to set aside. Setting a goal and than writing it down will help you to set aside the money that you will need. If you have a bulletin board in your home you can hang up your sheet so you can keep track of your money.