Tips for Raising Kids & Paying off Debt

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.

Having kids and paying off debt at the same time can be quite tricky! In this Debt relief series, get Tips for Raising Kids & Paying off Debt

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.

Read: Fun ways to save money for kids!

#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!


  1. What great tips for raising kids and paying off debt. It’s hard to live in this day and time when you own a lot of debtors. Thanks so much for sharing.

  2. http://Robin%20Masshole%20mommy says

    these are excellent tips. I love the one about not everything needing to be brand-new. I shop at thrift shops for clothes very often for my boys and get lots of good buys there 🙂

  3. These are all great points. These are all lessons that will help kids in the future too. Great post.

  4. Thank you for this post. I have been struggling to find a balance between raising kids and balancing my debt. I think the debt relief series is a great idea. Thanks for sharing.

  5. These are great tips even if you don’t have kids!! Thank you for sharing and this very valuable post! Many people will benefit from reading this!

  6. http://Elizabeth%20O. says

    Great tips. Raising kids and paying off debt can feel like a battle. This is so true. It’s hard to tighten the already tight belt, but once you’ve paid off your debt, you will feel so relieved.

  7. http://Amy%20G says

    Having both money and kids is super hard. It’s hard to say no to everything but it’s better in the long run!

    • Exactly, Amy! You have to look at the long-term goals. My kids love to travel, so we save our money towards big things like that!

  8. http://Rosey says

    This is a great list. I was letting my kids get spoiled. That’s not happening now and it’s nice.

    • Yes and kids don’t require a lot. And when you set these patterns in place at an early age they adapt easily.

  9. http://Dogvills says

    This is very great tips about paying off debt, thanks for this, this could be helpful to my family.

  10. These are all great tips. You’re right, fun doesn’t always have to cost. Sometimes a trip to the park is more fun than paying for a movie. It’s good to soak up some sun and spend some time outdoors with the family.

  11. http://Shantha%20Wetterhan says

    Thanks for the post! These are things that are not taught in school, but should be.

  12. Great tips! I love that you are recommending doing activities that don’t cost money.

  13. These are great tips. I am working on paying off debt and these are what I use to keep my spending in check!

  14. Thanks for sharing these tips. As a parent of 3, I seriously think that they can greatly help me.

  15. It is very important to teach kids about money at a young age. We should give them the tips and tools that we had to learn on our own.

  16. I agree with this, it doesn’t need to have to spend a lot of money for a kids wants and needs. Being wise and smart is good thing.

Speak Your Mind


This site uses Akismet to reduce spam. Learn how your comment data is processed.