We’re down to the last post in this Get out of Debt Series!
We started with What Debt Looks Like, then 4 Ways We Conquered Debt, and last we talked about 4 Ways We Changed Our Budget to Become Gazelle Intense.
We’ll never be those parents that can afford to buy a brand new car for our kids or pay for their college tuition 100%. However, we are doing the best we can now to prepare them for a successful financial future. Many people put off having kids because they have “debt” or they aren’t “financially” stable. As you have heard before, if you wait until you’re financially able to have kids, you’ll never be ready. Here are some tips for raising kids and paying off debt at the same time.
Tips for Raising Kids & Paying off Debt
#1. It’s okay to say no.
I say no all of the time because there are things that aren’t necessary. My kids don’t need to have the best of every single materialistic thing in the world. We have learned to say ‘no’ to things because we realize our kids don’t need everything to be happy.
#2. It’s okay to not buy brand new.
How many times do parents feel pressure to buy something brand new because everyone else is? We have learned to not buy brand new! Not only do we save money but we are also teaching our kids that having the best and most expensive items doesn’t always make you happier. When you’re raising kids and paying off debt, you really have to be okay with not buying brand new all of the time.
#3. Fun Doesn’t Always Have to Cost Money
A lot of times having ‘fun’ with kids is associated with spending money. Some of the most basic things we do as a family are our favorite and do not cost money at all. Going to the park, having picnics, taking walks, and just watching movies together are ways we enjoy spending time as a family. While it’s fun to go to the zoo or take a family vacation, those things aren’t necessary to be happy.
#4. It’s okay to teach your kids about money.
Some parents are afraid to teach their kids about money because they may “scar” them from their childhood. Your kids don’t need to know about your financial problems, but it’s okay to teach them about paying off debt and why your family tries to cut back on save money. Read: Get kids involved with saving money!
Raising kids and paying off debt can feel like a battle. Sometimes you feel as though everything you’re doing is for nothing and other days you feel as though you’re on the right path. If you can survive this rollercoaster of raising kids and paying off debt, it will all be worth the battle in the end.
Hopefully in this Debt Relief series you learned a few things of how we worked on our debt and ways to get out of it.
ETA from Tatanisha: I’ve definitely enjoyed reading this series every week, and taking some of Jess’ tips, along with the 52 week challenge working on ways to finish paying off of our debt as well! If you enjoyed this series and would love to get more tips and see more Debt relief posts, leave me a comment below and let me know!