Children are expensive, and the amount that parents spend on raising them is much more than it used to be. In fact, the Department of Agriculture recently announced a study estimating the costs of raising a child to be approximately $235,000. If your family wasnít already on a budget before you had kids, changing your spending habits to start saving money now may seem daunting and difficult. While money wonít ultimately buy you happiness, reducing your debt and saving money can bring you peace of mind, security, and the financial freedom to pursue the things in life that make you happy. Here are a few helpful money saving tips for families looking to build up their emergency fund, save for retirement, and build wealth.