Hoffman - Smart Mama, Smart Money

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80 Strand, London WC2R 0RL, England

First published by New American Library,

a division of Penguin Group (USA) Inc.

First Printing, March 2012

1 0 9 8 7 6 5 4 3 2 1

Copyright Rosalyn Hoffman, 2012

All rights reserved. No part of this book may be reproduced, scanned, or distributed in any printed or electronic form without permission. Please do not participate in or encourage piracy of copyrighted materials in violation of the authors rights. Purchase only authorized editions.

REGISTERED TRADEMARKMARCA REGISTRADA

LIBRARY OF CONGRESS CATALOGING-IN-PUBLICATION DATA:

Hoffman, Rosalyn.

Smart mama, smart money: raising happy, healthy kids without breaking the bank/Rosalyn Hoffman.

p. cm.

ISBN: 978-1-101-57709-7

1. Child rearing. 2. Childrens paraphernaliaCosts. 3. Childrens clothingCosts.
4. Home economicsAccounting. 5. Consumer education. I. Title.

HQ769.H7182 2012

649.1dc23 2011044649

Set in Cochin

Designed by Catherine Leonardo

Printed in the United States of America

PUBLISHERS NOTE

While the author has made every effort to provide accurate telephone numbers and Internet addresses at the time of publication, neither the publisher nor the author assumes any responsibility for errors, or for changes that occur after publication. Further, publisher does not have any control over and does not assume any responsibility for author or third-party Web sites or their content.

As I wrote Smart Mama, Smart Money and disappeared for weeks on end to review and relive (often painfully) my own parenting successes and failures, I came to appreciate more fully the intergenerational dialogue that informs who we are as moms. So I thank my two beautiful and brainy daughters, Allie and Julia, and my dear mom, Ruth, may she rest in peace, for all they taught me. Thanks also to my husband, Warren, for his endless encouragement, for keeping the fridge stocked, and for putting the meals on the table! I am grateful to Brooke Rogers, Cara Nelson, Rachel Dratch, and Marnie Gale, who generously offered up their fresh advice on all things baby. My thanks to the same team who so ably guided me through my first book, Bitches on a Budget, for their clear thinking and patient guidance as Smart Mama, Smart Money incubated: my editor at NAL, Tracy Bernstein; my teacher and friend Sarah Braunstein; and my agent, Alanna Ramirez.

Ah, the parenthood industrial complex. It preys on your fears. It permeates your dreams. It picks your pocket. You must purchase this deluxe baby-brain-exercising doodad or your child is sure to bomb the SATs! You must have a custom-designed, celebrity-endorsed organic diaper bag or your outing with baby is sure to be calamitous! You must sign them up for an ever-escalating array of classes and clinics, equip them with all the cutting-edge gadgets and gizmos, dress them in the latest fashions and fadsor theyre doomed to fail.

You need this. You must enroll in that. You cant do that! You must read this and this and this. (Oh, you havent read that? And you call yourself a good, responsible parent?) You must forgo yourself for your child. If you love your child, you must spend, spend, spend, spend. Right?

Wait, not so fast... Take a deep breath. Relax.

In the bestselling Bitches on a Budgetthe handbook for chic livingwe showed you how to edit the good from the bad, where to shop, when to buy, and how to enjoy the free pleasures life has to offer. The end result? Smarter shopping decisions. Bigger savings. Better living. We were your shopping adviser, grooming consultant, travel agent, decorator, and therapist all rolled into one! Now were back with a book just for moms. From cradle to college weve shopped the world, made the meals, balanced the books, mastered the technology, and charted the courses to give you the goods on finding what your kids need without losing your shirt... or your sanity!

Whether youre expecting your first baby (congratulations!) or have a house full of kids, Smart Mama, Smart Money is the guide for parents minding their wallets and their values. Well show you how a modern mom streamlines and simplifies. She doesnt waste time or money chasing after perfect lessons, fancy toys, and pricey duds. She weeds out the silly and excessive (your baby does not need a touch-screen tablet, and your teen does not need to go to Bora Bora to do community service!) from the must-haves and the must-dos. Smart Mama, Smart Money has the advice you need to find the right toys, gadgets, clothes, food, and lessonsall at affordable prices.

Dressing kids takes a big bite out of every family budget. Not only do the little rug rats keep growing, but styles keep changing and their tastes keep shifting. Well give you the rundown on all things fashion: from which stores and online sites to shop, to when hand-me-downs rock, to why you need to let your kids dress to express themselves. (Yes, we know its tough. But you cant be a total control freak about everything.) Whatever the size of your bank account, todays hippest mom goes both ways: She is both a buyer and a seller of new and used clothing and gear. Its budget-friendly, green, and easier than you think!

In this new economy, its critical to live within your means. Smart Mama, Smart Money will help you take stock of your finances, get your budget in order, and give you a primer for teaching your little ones money smarts. (You do want them to be able to afford to move out of the house one day, right?) You need to be savvy about balancing the books, credit and credit cards, interest and interest rates. Dont waste your time trying to decipher the secret handshake for college entry: There is none. Instead, you should be thinking ahead and saving for collegeand retirement.

Well give you an accounting