The cost of raising kids in the U.S. has become, for many, nearly untenable. Even just bringing up one child is astronomically expensive.
According to a 2023 study from LendingTree , the average annual essential costs to raise a small child leapt 19.3% nationally between 2016 and 2021. Annual expenses minus tax exemptions or credits totaled $21,681 in 2021; in 2016, annual expenses were $18,167.
Obviously the more kids you have, the higher your expenses will be. And some parents have quite a few children to raise. Consider, for example, Dr. Ryan Senters and his wife Sara, who have 11 children. How do they manage the costs of raising them? Senters spoke with GOBankingRates to share six ways he and his wife save money on providing for such a large family .
The Senters family saves on groceries by buying in bulk, specifically from Sam’s Club. They also avoid food delivery services and embrace meal planning. The latter, Senters admitted, can be a challenge.
“With 11 kids, it can be difficult to plan meals and shop for the proper groceries,” Senters said. “We have a monthly meal prep dinner calendar that rotates meals throughout the month.”
How They Save on Extracurricular Activities
Most kids are in at least one extracurricular activity. The Senters have come up with ways to keep costs manageable in this area, too — particularly when it comes to kids’ sports.
“Most of the kids play sports, so we have them share sports gear and pass it down to each other,” Senters said. “This ends up saving us hundreds of dollars on sports equipment and accessories.”
The Senters kids also use their own outdoor space to practice sports rather than paying to use a facility. Additionally, the family takes advantage of discounts for large groups.
“On Sundays, we have family basketball games at home in our backyard, rather than going and spending money elsewhere,” Senters said. “When we venture out of the house with everyone, we look for group discounts since we are a family of 13.”
No kid wants to go uncelebrated when their birthday rolls around. And though the Senters are monetarily mindful here, they make sure their kids have a good time.
“With 11 kids, birthday presents tend to add up throughout the year,” Senters said. “However, it’s important that they each feel special on their birthday. We achieve this by spending quality time with family and friends to celebrate and we have a tradition where everyone says one thing they love about the birthday person.”
How They Save During the Holidays
The Senters ensure that their kids don’t miss out on holiday gifting fun by keeping a separate savings account that they put money into monthly to build a nest egg for the holiday season.
“This allows us to buy gifts throughout the year and we typically are able to get anything on sale during the right time,” Senters said. “For Christmas morning, we give each kid three gifts. As we like to say, baby Jesus was offered three gifts and so our kids get three gifts too.”
How They Save on Entertainment/Subscription Services
Senters is well aware of the steep costs that can accrue when using multiple subscription services for entertainment. To keep costs down here, the family collectively conducts a quarterly audit of their subscription services.
“Oftentimes, we find a subscription to cancel based on the kids no longer using it or us not even knowing we were paying for the subscription,” Senters said. “The little charges add up, so we like to keep a close eye on our bank statements.”
How They Save on Teaching Financial Responsibility
It’s hardly a little-known fact that kids in the U.S. are generally under-educated when it comes to personal finance. This is not the case in the Senters’ home.
“When our kids turn 13, they receive a Green Light debit card,” Senters said. ” This card encourages them to work and earn their own money also while teaching them financial literacy and responsibility.”
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