TheBoyandMe

In the school that I work in we have had a wave of new babies being born over the past couple of years, such is the way when the staff is made up of mostly women under the age of 40. It's an absolute joy to see my colleagues realise the wonder of having their own little bundles of joy to enrich their lives, and of course I am able to have an excuse to crochet and use up some of my infinite supply of yarn (it's over-running our house!).

I've had quite a few discussions since having my son about the cost of having children, they are pricey little monkeys! And of course the first year seems to be the most expensive, especially as most of the money seems to be spent on 'consumable' or 'disposable' items; it makes juggling finances in the initial twelve months really hard, especially when parents having a limited income due to parental leave. Most of the time when someone says to me that they are waiting to have enough money to be able to afford the cost of having a baby I tell them that you'll never have enough and you make the pennies work. I became very resourceful making pasties, shopping at nearly new sales and generally being as frugal as possible.

When the shock of those first few years have passed, it's actually quite interesting to see the breakdown of the cost of having a child. The obvious comparison of the cost of feeding is obvious; breastmilk is free and if mums choose to breastfeed then they could save £1,500 during the first year! The interesting discovery for me was that reusable nappies aren't that much cheaper than disposables, only saving £100.

I was quite fortunate in not needing to use a private nursery or paid childcare as my mother was able to look after my son when I returned to work when he was 11 months old. He didn't attend a state nursery either as I felt he was too young to cope with it every day, but he did have a few sessions a week in a private preschool which my husband's boss paid for. We saved a lot on childcare during those first four years, thanks to extended family, but I was interested to see that the cost of childcare wasn't as much as I'd thought. This infographic produced by Busybees preschool in Leeds is intriguing and definitely worth looking at for new parents.

Save

When you're looking into booking your next holiday, you'll probably be offered the option of selecting all inclusive. Two things here – firstly, you'll almost certainly see the price of your holiday increase in comparison to a self catering, bed and breakfast or half board selection.

Secondly, don't necessarily let that price increase put you off. Going all inclusive can be a way of saving money on your holiday if you calculate that cost against what you'll be likely to spend on food and drink across the duration of your trip – whether that be one week or two weeks.

'An all inclusive' holiday means you can really put your feet up and relax, knowing you have paid for your food and drinks upfront – and they can be great value' state online travel agents Travel Republic.

All inclusive options can vary from hotel to hotel, so it's always advisable to check specific details to confirm what is and isn't included before you book. Typically though, you can expect breakfast, lunch and dinner to be covered, and at least some soft and alcoholic drinks. Some all inclusive deals will also include snacks during the day.

Of course, you'll pay for all of this up front when you book your holiday and so your bank account may feel the pinch at the time. But if you work out how much you're likely to spend on three meals a day per person going on the holiday, plus drinks, and then compare this with the extra money you've paid to upgrade to all inclusive, you might be pleasantly surprised. As the Travel Magazine says in this article: 'With an all inclusive holiday you get to enjoy the benefit of literally leaving your wallet in your hotel room.'

It's certainly a nice feeling knowing that you don't have to worry about budgeting for basics like food when you're away. In fact, there's a good chance the only money you'll need to spend will be on nice extras such as gifts, extra activities and excursions.

All inclusive can be especially good for families on holiday. Not only does it cover food and drink, it also means that hotels offering all inclusive options have entertainment included too. 'With mini discos and games now on most hotels' night-time agendas, you can sit back and enjoy a cocktail while they (the kids) run riot with new friends,' says bounty.com.

It's not completely about saving money, though. Having a stress free holiday is important and knowing that your children will be fed when they're hungry, without the worry of finding a restaurant with space when little tummies are rumbling, makes life very easy indeed. The flexibility of many all inclusive options allows kids to eat lunch whenever they want, within reason. For example, if your teenage son is playing football when the rest of the family want to eat, he can sit down an hour later when the sports club has finished.

And, if you have a fussy eater it really doesn't matter if they try a meal and don't like it, because there is usually plenty more on offer to eat instead; all inclusive options are often buffet-style meals. There is a vast choice and limitless portions!

Everyone has an opinion and all inclusive comes down to choice. Some holidaymakers may prefer to dine somewhere different every day but others will love the convenience and value of all inclusive.

When it comes to junior ISAs, a small amount goes a long way if it is regularly contributed and withheld until your little one is ready to receive the money. If you start when they are born, you could have a nice little nest egg to gift to your child once they come of age and start looking to put deposits down on houses and pay University fees.

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