How to Save Money While Raising A Family
It definitely seems like a far-fetched idea, right? Kids are the financial equivalent of a black hole, after all, and it’s not cheap to raise a family. But there are actually a number of ways that thrifty families just like yours are saving up without making big sacrifices to their lifestyle. Check out these tips below on saving with a family!
Keep An Eye On Food
Any family is going to be spending a pretty penny on groceries throughout the week. After all, with more mouths to feed, you’ll be needing to buy more food. Fortunately, there are ways to save big when it comes to food shopping. When you’re at a grocery store, look at your coupon options. Go for things that are available at discount prices. When something is buy-one-get-one-free, go for it!
Don’t Buy New
Why shell out the money you need for a brand new item if the same thing is available at a discounted price, gently used? There are some things you don’t want to be buying second-hand, but plenty of items like clothing, appliances, jewelry, entertainment systems and more can be found at discounted prices at thrift stores or pawn shops. Take a look around before you drop cash on a TV fresh from the store!
Do Repairs Yourself
When you pay for professional services, you’re not only paying for the base product itself. You’re also paying for a professional’s time and expertise, which can be quite costly. If you don’t mind getting your hands a little dirty, though, you can save big by doing things yourself. This applies to everything from cooking your own meals to servicing your own vehicles. With the resources currently available on the internet these days, there are tutorials for just about anything you can think of.
Look For Cheap Family Entertainment
The idea of keeping an entire family happy during a reasonably priced family outing can be daunting, but there are actually lots of cheap or even free entertainment options available. Check out performances or fairs at your local park. Check out the library to see what the city events are. Go to the zoo, or have a fun day at the beach. If your kids are young enough, you might even be able to get discounted tickets for higher priced events.
Cancel Unused Services
You might be surprised to see just how much money you’re losing every month to services you don’t even use. Contact your cable company if you find yourself neglecting features that cost you extra, like voicemail. Cancel subscriptions you no longer use, whether they’re small ones like magazines or big ones like premium cable packages.
Save On Insurance
Your local insurance prices can actually vary quite a bit, so you should do a little research before you settle on your final pick. Do you know for sure that you’re getting the best deal possible? If the answer is no, then try to do some comparisons and see if any insurance companies in your area come up with a more reasonable price tag. Saving your money on insurance can make a big difference in your total budget.
Avoid Brand Name Premiums
This applies to everything from clothing to cereal and more. Generally speaking, buying a known brand name will hike the price up – sometimes substantially. Instead of always going with the names you recognize, try the generic brand or knock-offs when you can. You might find the quality to be comparable to, or even better than, the original (and more expensive) item.
These simple ways to save money while raising a family are just some of the ways people save. Once you start implementing these tricks and tips into your daily life, you’ll surely find yourself saving more. You might also find that you can save money in other areas. All the money that you save can then be put toward family vacations, college funds, and other necessary expenses!
We would love to know how you help save money while raising your family. Let us know in the comment section below.