Simple Ways to Save: How to reduce the cost of raising kids

It costs up to approximately half a million dollars to raise a child from birth to the age of 18 in Australia, according to research by the Australian Institute of Family Studies.

It's a fair chunk of change and, as parents are well aware, the expenses begin before they are even born.

Thankfully there are simple ways to save on the cost of raising kids and you'll learn them as you go.

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There are certain expense that are more difficult to skimp on including health costs, educational expenses and the like.

With most other areas of family spending on children, it's easy to cut back.

Watch the video above to find out how to save on toys, clothes, gifts and activities while teaching children about budgeting along the way.