You may always watch your expenses, especially when times are tough. But there is another thing you need to be looking at, and you need to do so objectively: your expenses on your child. Just how much are you spending on your child? And how much of those does she really need, or want?

Let’s take from head to toe. Where does your child get a haircut? Is it really reasonable to always get her haircut in that new salon around the corner that costs a week’s salary?

Sure, they have these nice princess seats, and all her favorite toys are in there but can you really sustain this? With the fast pace, her hair is growing. You will need to make a few rendezvouses in a year, which all will add up to a considerable amount of money.

Then there are, of course, the dresses. You see Suri and Maddox and all these celebrity kids in baby designer clothes, and you buy the same for your kids. Can you really afford it? How often would she use it? She will definitely grow, you know, and that beautiful pink bejeweled skirt may not even fit her two months henceforth.

How about the shoes? Is she going to the office to work, is that why you are buying her shoes that cost the same as your work shoes? How many shoes has she got, in the first place? Those pink leather boots may be unique but is it even comfortable?

This is just some of the reality checks you need to do to correct your spending. Harsh, but they need to be done, otherwise you’ll find yourself spending more than you can afford, and your child might get the same habit.

Credit: Tina Phillips