It costs parents $233,610 to raise a child born in 2015 through to the age of 17, according to America’s Department of Agriculture. With 26% of parents confessing to BabyCenter.com that they spent more than $500 on their child’s first birthday celebrations, it’s easy to see how a significant proportion of any family’s income is swallowed up each time their child reaches a new milestone. Therefore, if you’re planning your child’s first birthday party or their sweet 16, here’s how to keep your budget in check.
Setting your budget
Before you make any plans for your child’s party, you need to set your budget. You should review your personal finances and set a figure that you can afford and proceed with your arrangements from there. You may want to consider your borrowing options to ensure you have enough cash to create a memorable bash. Borrowing from a reputable lender such as a loan company is the ideal way to boost your party budget when funds are low, and you don’t want to let your child down. If your funds only cover the cost of a small party with a handful of your child’s friends, then don’t be afraid to explain the situation to your child. It’s good to talk to your kids about money and you can discuss ways to keep costs down together, such as sending e-invitations or inviting guests by mouth rather than wasting funds on paper invites.
Cut the entertainment
Thumbtack.com states that the average cost of a magician is between $250 and $300, although, most will charge slightly less for a child’s birthday party. Most children will entertain themselves, though, so instead of splashing out on top quality entertainment, leave the kids to play with the toys and games you’ve already got stashed in the garden and within your home. For some additional fun, play traditional party games such as pass the parcel and musical chairs with younger children, while, older kids will enjoy challenges and games where they can compete with their friends.
Do it yourself catering
A pre-made birthday cake bought from a supermarket or wholesaler can be picked up for less than $20. This may not sound too costly, however, making a cake yourself would cost you just a few dollars, and it would have fewer preservatives and additives in it than an off the shelf one. You don’t need to go all out with the food for your guests, either. A few sandwiches, crisps, some healthy snacks, such as fruit kebabs, and soft drinks are all you need for a birthday party which lasts just a few hours. These types of foods are easy and cheap to prepare, too, so there’s no need to worry about damaging your budget.
Children’s birthday parties don’t need to be a costly affair for a great time to be had by all. Ensure you set your budget before making any preparations, so you know what you’re working with. Entertainment can be created on any budget, and most kids are happy with low-cost fun and games over expensive acts. When it comes to feeding your guests, keep it minimal, and you’ll find your party won’t leave too much of a dent in your finances.
I hope that our article can help you set a reasonable budget for your child’s next birthday party!
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