A family with children? How to keep things affordable!

By Sophie Docx
kidslife cake

Mums and dads know all too well that raising children takes a big chunk out of the family budget. How can you keep things affordable?

Before you know it, they’ve outgrown those brand-new clothes, are eating you out of house and home, demanding a new bicycle or the latest toy, and racking up exorbitant school costs. That old cliché that having children breaks the bank isn’t wholly unfounded. 

💡The Cake app automatically provides a handy overview of all your costs and how much they amount to on a monthly basis. It contains separate “children” and “education” categories. You can organise these using subcategories such as pocket money, children’s clothing, school books and childcare, etc. The app categorises most costs automatically, but you can also assign or amend categories yourself. Read how to do that here.

Fortunately, the Growth Package or Child Benefit covers a large proportion of these costs. Particularly if you spend it wisely! More on that later. But what exactly does the Child Benefit comprise and how can you get the most out of it? Let’s start by summarising that below.

The Child Benefit comprises 3 major components:

  • a one-off Maternity Allowance of 1122.22 euros upon the birth of your child
  • a fixed monthly amount per child
  • supplementary allowances that can be claimed based on your circumstances

On top of that, you also receive additional allowances once your child starts school, the School Bonus: an annual supplementary allowance paid in August based on the child’s age.

But how can you spend this money as efficiently as possible? Our budget tips help you to get the most out of your family budget.

  • Is your child attending summer camp? You can obtain a small refund for sports camps, outdoor classrooms, summer camps (including those run by the youth movement) and playground activities from your health insurance fund. Some municipalities also provide discount coupons for various camps. Check out their websites for more information!
  • Buying second-hand clothes and toys gives used goods a new lease of life. It’s good for the environment (because there’s less waste) and your wallet. Keep an eye on local Facebook groups for more information. De Kringwinkel has recently launched its own online shop selling a lovely range of toys.
  • You can even borrow children’s bikes (which they outgrow so quickly) from various bicycle libraries.
  • Handy with a needle and thread? Then start making your own children’s clothes. You can choose from an endless array of lovely patterns and fabrics. Or consider buying a second-hand cabinet or desk. You can completely transform an old piece of furniture by sanding it down and giving it a fresh lick of paint!

Did you know that you’re free to choose which child benefit fund to join? Switching providers is extremely easy.

👉 Request your transfer to KidsLife here.
KidsLife will subsequently make all the necessary arrangements to ensure the timely and continuous payment of your benefits. They even check whether you’re receiving all the allowances to which you’re entitled. That way, you don’t miss out on anything!

You can also view your various income streams separately in the Cake app. How integral is the Growth Package to your total monthly income?

Keen to receive yet more budget tips?

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