RAISING a family does not come cheap. The average cost for a couple bringing up a child to the age of 18 was around £158,000 last year, says the Child Poverty Action Group.
Isobel Lawrence from self-help finance site MoneyMagpie says: “The rising cost of everyday essentials is adding financial stress to already struggling households.
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Factor in child-specific costs such as nursery fees, babycare products such as nappies, and days out during school breaks, and you can see why a real toll is being taken on families across the UK.”
But there are ways to help cut those costs.
As half-term arrives, Rachel Wait has a money-saving checklist for parents.
RENT IT OUT: Hiring everything, from bikes to clothes and musical instruments, can be cheaper than paying for them up front.
Plus, it’s easy to swap items when your child gets bored or outgrows them.
Bikeclub.com lets you rent cycles from £4.49 per month.
Clothing rental site The Little Loop offers monthly plans from £18.
Several music shops have schemes that allow you to rent instruments, including Normans.co.uk where prices start at £10 a month.
BUY SECONDHAND: This is better for both your bank balance and the environment.
Try apps like Vinted and Depop, as well as Facebook Marketplace and local WhatsApp groups.
Remember to always check the condition of each item, and factor in delivery fees.
Local sellers and charity shops can be particularly useful for branded school uniform, while many schools will hold sales of secondhand uniform.
If yours doesn’t do this, suggest it to the Parent Teachers Friends Association.
When you can no longer use the items, maybe resell them to earn extra cash.
STOCK UP IN THE SALES: Make a note of when discounts on uniform and other essentials for school come around at the supermarkets and other stores, so that you can stock up — perhaps in the next size up.
Asda is offering ten per cent off kids’ clothing between February 13 and 27 and its next baby-and- toddler savings event takes place in April.
Sainsbury’s offers 25 per cent off Tu clothing a few times a year, while Marks & Spencer usually discounts school uniform in early July by 20 per cent.
EAT OUT FOR LESS: Kids can currently eat for £1 all day, every day at Asda cafes, and for free all day, every day at Morrisons cafes when adults buy a meal for £4.49 or more.
At Dobbies garden centres, kids can eat for free when an adult orders a main meal, while Yo! Sushi is offering a similar deal this half-term.
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USE YOUR LIBRARY: Join your local library and get access to thousands of books for free.
Kids can have their own card and can typically borrow up to 20 books at a time for three weeks.
Books can be returned to any library within the same county or renewed via your online account.
Penalties will apply to lost or damaged books, but many libraries won’t charge for overdue books borrowed by children.
Some, such as Surrey libraries, charge 10p per day, up to a maximum of £3.
Mallory Reynolds-Trout, manager at The Baby Show, says: “Libraries also often have free, interactive events like rhyme times for babies and toddlers. Check your local council’s website for details.”
SIGN UP TO PARENTING CLUBS: Take advantage of online ones such as the Boots Parenting Club and Asda Baby Club, to benefit from valuable parenting tips, reward points and free gifts.
Pregnant mums get free gift packs of products, samples and vouchers when signing up to Emma’s Diary, or to Bounty.
CHECK FOR BENEFITS: If you are expecting a baby, and receive certain benefits, you could get a one-off payment of £500 from the Government to help toward costs.
This is known as the Sure Start Maternity Grant.
Alternatively, the Healthy Start scheme is designed to help low-income families cover the cost of healthy food.
Millions of households are also entitled to receive child benefit payments.
Parents can claim £21.80 a week for their first child and £14.45 a week for each additional child.
FREE ACTIVITIES: Use websites such as visitengland.com and dayoutwiththekids.co.ukto find out about free half-term activities in your area.
You’ll discover everything from free museums and woodland walks, to dinosaur fossil-hunting and Harry Potter trails.
For more inspiration, download the LoyalFree app or search the local events section on Facebook.
SORT YOUR SAVINGS: Earlier this month, the Bank of England raised interest rates to four per cent.
Make the most of higher rates by opening a savings account for your child, to help set them up for the future.
Leeds Building Society’s Ronnie The Rhino Youngsaver account pays 3.9 per cent on balances up to £1million, while the Coventry Building Society Junior ISA pays 3.8 per cent.
Also check whether you’ve got money languishing in lost accounts.
Young people could have an average of £2,100 in forgotten Child Trust Fund accounts, according to HMRC.
These were available to children who were born between September 1, 2002 and January 2, 2011.
Laura Suter, head of personal finance at online investment platform AJ Bell, says: “The Government has a tracing service online so you can find out if you have an account and who it’s with.”
