Kids & Clothing: How To Spend, Save and Give

By Emily Turilli, Editor In Chief at Benjamin Talks

Nikki Boulukos and Carissa Jordan first met a decade ago as young analysts at Goldman Sachs. Ten years later, they happened to reunite in the same New York City suburb as friends and neighbors raising their young children. Nikki and Carissa founded Benjamin Talks with a mission to make all kids financially fit, no matter what their circumstances.

Read on to hear the BT Moms’ philosophy on all things kids & clothes.

There is a lot to think about when it comes to outfitting our mini-mes. Yes, we want our kids to be comfortable and look cute. But kids grow so fast. Before we blink, those sleeves are too short and the shoes don’t fit. How do we get the most bang for the buck out of our spending when it comes to kids’ clothes? Let’s break it down the best way we know how. Here’s how Team BT spends, saves and gives on kids’ clothes.  

Spend

“The average family spends $1,200 a year on clothing. PER CHILD. Yes, you read that right. Those cute little GAP joggers and darling Target bathing suits add up quickly. The kicker? Kids grow like weeds and may only get a matter of months out of their clothing. They also play hard, and their clothes take the brunt of it. The BT Moms have a firm stance on purchasing children’s clothes, and it comes down to the age-old adage of quality vs. quantity every time. We buy high quality clothing built to last..and with a dozen kids between us, we are BIG fans of hand-me-downs (more on that below!). As Carissa says, “I always buy durable Hanna Andersson pajamas in gender neutral colors that can be passed down from my oldest son to my middle daughter to my youngest boy and still look almost new.” The BT Moms also always consider a cost per wear for our children’s clothing and accessories. We are far more willing to spend on a warm winter coat for our littles (which might get used daily for five straight months in these cold New York winters!) than a special occasion dress or pair of fancy shoes that cost a pretty penny but only get a handful of wears. ”

Save

“Short of shopping sales, it can feel hard to save money on kids’ clothes. We’ve attempted to sell our children’s outgrown apparel in the past, but the payoff for hours of work photographing, posting and shipping their once-loved clothing feels minimal. Consignment options are also sub-optimal, as consignors often take upwards of 50% commission. But don’t fret! The BT Moms have found a great solution to saving on kids’ clothes. For a fixed cost per year, members of The Swoondle Society can trade in their outgrown clothing and accessories and choose the items they need in the right sizes, for the right season. With the trade-in model, Swoondle customers are encouraged to buy quality clothing that can be consistently traded in for years to come. In true BT fashion, we also love Swoondle because kids can get involved in the clothing conversation. By gamifying the system, kids can swap items on the same level and think through how to “spend” their trades. Importantly, by involving kids in the Swoondle process, they are more likely to take care of their apparel to ensure a better trade-in once they have outgrown their clothes. This ingenious model not only saves parents money and gets kids invested in their apparel, but also offsets the harsh environmental impact of cycling through fast fashion for kids. With Swoondle’s modest fixed cost, families have less guilt and less waste. Talk about a win win. ”

Give

“The BT Moms are hand-me-down masters. We constantly pass clothing between siblings, cousins and friends to ensure that we get the most wear out of each and every piece of our kiddies’ apparel. By focusing on quality over quantity, our kids’ clothes tend to withstand the inevitable wear and tear and cycle through multiple owners before being retired. Trust us, no one loves a large labeled bin of outgrown kiddie clothes more than we do! The BT Moms also make regular trips to donate our children’s clothing to local charities in need. “Donating my children’s clothing is only half the giving equation,” says Nikki, “I always bring my kids with me so they see firsthand how their favorite baseball sweatshirt will make another little sports fan so happy.” Since outfitting children in seasonal clothing that fits is an expensive endeavor, it inevitably puts undue stress on families in need. Swoondle helps streamline the giving process. Many users choose to donate their lower level trades to Swoondle’s non-profit partner @roomtogroworg. Room To Grow is then able to select the items they need for their families and efficiently fill any gaps in donations.

When it comes to outfitting our kids, the BT Moms like to spend responsibly, save thoughtfully and give purposefully. With a little bit of intention, we can get the most bang for the buck on our kiddies’ clothes.  
 

Visit Benjamin Talks to get a Benji Bank to help build your child's financial fitness. 

Visit Swoondle to start trading your child's clothes.