Saving money problem

ALPedro
ALPedro Posts: 21 Forumite
edited 3 May 2018 at 7:11PM in MoneySaving dads
How not to let the kids down while saving more money on our future?

I currently have two kids 13 and 16 y/o. Both of them are into Lacrosse and therefore, I have to pay for their coaching and equipment fees constantly. When it comes to tutoring, i started to teach them on my own using online resources like Khan Academy and StudyPug Stoichiometry in Chemistry instead of looking for a private tutor. However, I would like to save up for the future as I plan to buy a house for our family. I am wondering if there is a way to keep letting the kids play their sports while not needing to worry about the expenses so that I could save up.

Thank you in advance.

Comments

  • Look at your expenditure in its entirety.

    Before you buy it ask if you really need it or can you get it for less.
  • ALPedro
    ALPedro Posts: 21 Forumite
    That was what my family did, we sat down and had a discussion sort of. We came to a conclusion that there are certain stuff that we don't need and we can cut it. Thank you for your advice. I thought it would be a lot more complicated talking to my family about these kinds of stuff.
  • dawyldthing
    dawyldthing Posts: 3,438 Forumite
    Be honest with them. Say 'look guys lacrosse is costing me X and it's racking up quite a bit so we're going to have to cut back so we can afford it' what do you mind cutting back off so we can keep you going to it. Will help them budget for later in life too as with money it's all about choices
    :T:T :beer: :beer::beer::beer: to the lil one :) :beer::beer::beer:
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