Survivor: Young Parent Guide

My journey as a young parent begin when I were 22, back then my wife is only 20 and we just got started working in the corporate world. Needless to say we weren't earning a lot and I have to think of ways to make end meet with less than $3,000 in combine income. Looking back now, I realize I made many money mistake but I manage to pull through with many help and personal sacrifice in order to feed my kids.

So I compile a list of things young parent can do to help them survive financially so you can minimize making the same money mistake I do.

Here we go~

1) Staying with your parents

I know it is tempting for young couple to want to have a place to call your own. But having a place while your kid is still in infancy will not only increase your living expenses by means of rent and utilities, you will also have to make special arrangement to take care of your child. Therefore, staying with your parent can not only minimize your living expense, they act as a caretaker for your child as well.

2) Both you and your spouse must go to work

Once you have manage to convince your parents to act as a caretaker, it is advisable that both of you go to work. Combine income from 2 person can allow you to have more money to save up for the future and working mom usually qualify for many subsidies which will be useful once your child hit toddlers age.

3) Take hand me down from others

Children grow up real fast, so buying things like clothes, toys, pram or even baby cot is not really worth the full price. So as much as possible, take hand me down from other parents whom their children have out grow. Most parent are more than happy to pass them to you, just make sure they are in good condition and safe for your child.

4) Buy only necessities

As much as possible try to buy only necessities, in the market it is fill with baby products that look good but are actually quite useless. You don't need a baby wipe warmer or an overprice blender to make baby food. So stick to the necessities and try to take hand me down or DIY to save money.

So basically, it all come down to how much you are willing to sacrifice to secure a better future for your little family. All the measure mention above are only temporary as when you grow older and your income increase, a better lifestyle will await you and your family. Good Luck.