Childcare costs and financial independence

Childcare Costs – Balancing Finances & Family When Working Toward Financial Independence

As parents, it’s easy to meet single professionals in their late 20’s who are well on their way to an early retirement (or already living the dream) and think two things: “Darn, I wish we would have started earlier” and, “But they don’t have kids!” FIRE envy aside, one big question working families with kids must tackle is how to deal with childcare expenses.

If we both work full-time, how can we minimize childcare expenses? Should one of us cut back to part-time or fully stay at home? What other sources of income can we create to offset these costs? What is best for our kids and our family right now?

These are all questions we’ve asked and over the years, we’ve tried quite a few different arrangements with work and childcare to find the right balance between finances and what is best for our family.

Here’s our experience and tips for managing costs. Continue reading

Curbing Consumerism in Kids

Curbing Consumerism with Our Kids (and Ourselves)

We do our best to teach our kids about money and spending decisions… but there’s no getting around the fact that consumerism can be a big hook on our kids (and on ourselves).

It’s a fact of our modern society. Ads, shopping, and consumerism are all around us. They surround our kids, too, who see 40,000 commercials each year. Forty-thousand! With all these messages around buying, needing, and consuming, it’s no surprise many parents struggle with too many toys and too many “can I have this?” at the store.

Which begs the question… Continue reading

How to Raise Smart Savers (in a World of Spenders)

As parents, we want the best for our children. We want them to be healthy and educated. We want them to find a passion, be happy, and succeed. And if you’re a follower of Raising Savers, it’s likely you want them to start saving early.

In a highly consumerized world this is tough. From an early age our kids are exposed to media and peer pressure to spend, spend, spend. So, how do you raise kids who are financially literate and savvy savers?

Continue reading