That’s the approximate amount, on average, required to raise a child from infancy through adulthood, according to a recent piece on Daily Finance. That figure rose by about 1.8% compared with the prior year’s estimate — and it’s likely to climb further in the coming years.
So what should a panicked parent-to-be do?
Take a few calming breaths, enjoy a good night’s rest while you still can, and check out these strategies to earn and conserve extra cash while raising your little one:
Try Going Diaper-Free
The expense of keeping a child in disposable diapers can easily reach $1,500 annually (or more), but you can significantly cut that cost by using elimination communication. Often referred to as the “diaper-free” approach, it involves training your baby to use the toilet from infancy and relying on diapers only when necessary (for outings, nighttime, etc.).
Many families across the globe raise children this way, even if it sounds unusual to some American parents. Want to learn more about the diaper-free approach? Here’s additional information on that method.
Sign Up as a Toy Tester
Get compensated for letting your child do what they’d already be doing — playing with toys! Manufacturers want feedback from their target audiences, so they hire toy testers to evaluate products and share their impressions.
You might be asked to complete a survey, write a review on your blog or promote the toy on Pinterest. Sometimes you get to keep the tested toy; other times you receive monetary payment. Either way, your child gets to enjoy new toys at no cost to you. Learn more about toy testing in our related post.
Sell Excess Breast Milk
We’ll give you a moment to get past the initial oddness of that suggestion.
Ready? Here are the facts: Some mothers produce more breast milk than their infant needs, while others struggle to produce enough. Additionally, some adults seek donated breast milk for perceived health benefits, such as improved immunity and increased energy for athletes.
If you’re healthy and producing more milk than your child consumes, you could potentially earn up to $20,000 a year by selling breast milk online. Sounds less strange now, doesn’t it? (Like this idea? Click to tweet!)
Work Remotely From Home
The web provides many opportunities for parents who want to remain at home with their youngsters. How lucrative can it be? Think up to $150 per hour for certain gigs!
Whether you’re paid to watch streaming content, sell handmade goods or teach video game skills, there’s likely a money-making avenue suited to your talents. With a little imagination you can build a successful side hustle — or even a full-time enterprise — from home, on hours that fit your schedule (which, realistically, will often be dictated by when your baby naps).
Your Turn: Have you discovered a creative way to make or save money while raising a child? Share your experiences in the comments!
Also consider reviewing resources about the cost of raising kids to better plan your family budget.
