Maureen Hannan says, “Let’s face it: having a family is expensive. Babies need diapers. Kids need school supplies. Everyone needs food and a warm, safe home.

There’s a trick to money that is sometimes overlooked in financial advice, and it can change the way you think about money. Frugality has its limits because the ability to save money is dependent upon the amount of income you can make.  At the end of a month, the amount that you can put into saving for your kid’s college is limited bywhat’s actually in your paycheck.

Here’s an example: If you make $3,000 this month and manage not to spend anything (which is very unrealistic), you still only have $3,000. More likely, you could earn $3,000 and be super-frugal and save $1,000 or less by the end of the month (depending on where you live and how large your family is)“.

Stay at Home Entrepreneur: How to Make an Income While at Home With The Kids

Business.com

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