5 Things you shouldnt scrimp on when you have a family

Having a family is really expensive. It’s thought that a typical family spends £230,000 raising just one child to the age of twenty-one. Now that it is common place for children to stay in the parental home much longer, that cost could continue to soar. The costs include food, clothes and toys. Further and higher education can cause the figure to increase too. But there are many other costs we don’t think about in family life, that we really can’t afford to cut back on:

Life Insurance

When you have a mortgage, you should take out life insurance. How much insurance you take out is up to you. Typically, couples make sure the mortgage is paid off should one of the partners pass away. According to the Insurance Hero website, this may be far too little. You should add on the value of the missing salary, and all the other debts you have. Even extra childcare should be factored in so the remaining partner can continue working. It all adds up.


Healthy Foods

It can be tempting to pick up a tray of doughnuts that costs 50p rather than the single apple that costs 55p. But investing in your health now will help ensure you are well and disease free for the rest of your working life. This is essential to provide for your family for the years past your retirement age. Meals of convenience help claw back time lost to our busy lives. The years lost to ill health caused by a poor diet cannot be clawed back. Kids who eat only healthy foods are less likely to suffer obesity and illness.


Annual Leave

In these times when at least one partner is scraping a living through part-time or self-employed work, holidays can be difficult to take. Basically, if you don’t work, you don’t earn. But kids tend to remember those times when you are all together taking quality holidays that are fun. Book block leave, whatever you do for a living, and enjoy some quality time together as a family. Make some lifelong memories and have some fun!



Lead by example when it comes to keeping active. If your kids see that you will still head to that gym class or go for that walk whatever the weather, they will pick up good habits for life too. Even when you are tired and busy, make time to give your body what it needs. Fresh air and exercise are essential for maintaining your fitness and health. Keep up with your kids by making time to look after your body.



Maintaining Your Home

As a homeowner, it is down to you to keep the property safe and in good order. With a family to keep warm and dry, don’t scrimp on essential repairs or maintenance. Doing it yourself can save a fortune but getting it done right can save you from disaster down the line.

We’re all looking to save on the costs of life these days. But there are some things you really can’t scrimp on. Take care of your family and yourself.

Thanks for reading