What's the Deal: Cutting back on expenses for kids

PHILADELPHIA (WPVI) -- Raising kids is not easy - and it's definitely not inexpensive. The latest statistics from the Department of Agriculture show it costs roughly $233,000 dollars to raise a child.

But the parenting blog HealthyWay.com says there are easy ways to save and they rounded up some typical kid expenses they say are not worth the money.

These thrifty parents say you can easily shave off a few thousand bucks by eliminating trendy toys, suggesting a good rule of thumb is if your children want something, wait a month.

Chances are, by then, they will have moved onto a new fad.

Next, always look for used play sets like swing sets or those big toy houses you use inside or out. For every parent willing to pay top dollar for new, there's another one desperate to get rid of it.

Used is a good word to remember here. They say the same rule applies for things like instruments and sports equipment.

Oftentimes, kids only stick with these things for a little while, so shave down the cost by renting or buying secondhand until you're sure they are committing.

The same rule applies for new bicycles. They say the older models are built to last and you can save a decent amount buying one secondhand.

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