oT (NAPSA)—When it comes to balancing family budgets, moms are often the CFOs—andit’s not alwayseasy. To start, few momsrealize how much it actually costs to prepare for a baby andraise a child. According to a recent survey from Chase Card Services and Parents, 62 percent of moms of children of all ages feel that raising a child is more expensive than they had expected. The Chase Blueprint-Parents Survey found that, in response, momsare taking a proactive approach to saving money and managing their spending. A clear majority of moms attested to couponing (87 percent), stocking up on sale items (74 percent) and better managing their credit cards (64 percent). The survey, conducted among 1,025 readers of Parents and American Baby, also revealed that momsare developing budgets and employing a variety of tactics to better manage their families’ finances. Three-quarters of the moms surveyed at least occasionally use monthly spending plans or budgets, and 52 percent report that they regularly stick to them. Another way moms manage finances is by using free financial planning features like Chase Blueprint, which is available on many Chasecredit cards. “When it comes to making purchases for your children, it is Smart budgeting is essential for planning a family’s financial future. important to have plansin place, particularly when you are borrowing money,” said Caryn Kaiser, general manager of Chase Blueprint. “With Blueprint, moms can design simple plans to pay for family purchases both large and small, helping them stay on track with their long-term financial goals.” The survey also found that virtually all moms maketheir own financial sacrifices for their chil- dren by cutting back spending for themselves once their child is born. In addition, among those moms who feel raising a child is more expensive than expected, 61 percent madedrastic cuts to their personal spending as a way to counterbalance those extra expenses. Parents also often have trouble saying no: Even with the uncer- tain economy, most moms con- tinue to spend on non-necessity items for their children, in partic- ular in the child’s first two years. More than 80 percent of moms continue to spend on non-neces- sity items for their kids at least some of the time, with one-third describing themselves as doing this often. According to the survey, families spend an average of $1,400 on their child’s nursery and baby gear, and more than one in five spend more than $2,000. For more information on plan- ning a bright financial future for yourself and your family, visit www.chase.com/blueprint.
