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:
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. However, you should consider adding 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.
Just as it is important for you to consider insuring your life for when you are not here, you also need to consider taking better care of yourself while you are around. After all, we would prefer to be here than not, especially with our families. So it’s important that you consider getting some health insurance as well. You can get health plans from under £2.00 a week which in the grand scheme of things could go a long way to helping you through any health problems. Covering costs of some of the other smaller things like optical and dental health.
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.