It’s not easy saving money while raising a family. Apart from paying for college, the average cost of raising a child is nearly a quarter of a million dollars. It’s no surprise that families of all sizes are looking for effective tips on cutting costs on their expenses. We’re going to explore ways you can accomplish your saving goals with your family, and what frugal habits are worth adopting.
Pay Attention to Food
Thankfully, food costs are variable expenses that can be successfully adjusted to reduce their overall impact on your budget. By simply adding some structure to your family’s eating habits, you can save a ton of money.
Begin by taking a moment over the weekend (or any day that suits you) to plan the meals for the week. Consider your meal plan and peruse your cabinets before making your grocery list. Once you’ve got your list together, try to stick to only the items on that list while shopping. One technique may be to only use cash, so you don’t have room to purchase the extras.
You can also use mobile apps that will help you navigate sales flyers for stores in your area, or even get cash back for coupons you didn’t previously take advantage of at the grocery store.
Children grow so incredibly fast, and they often ruin clothes within days of purchasing them. The same thing applies to toys, books, and shoes. With all of the available ways to purchase items that have been gently used, there are always new ways to find what you need at a much lower cost, while also helping the environment.
You can get creative outside of consignment shopping, too. Try clothes swapping with other families, yard sales, or even mobile apps like letgo and 5miles. Buying used is extremely helpful if your children play sports or have other extracurricular activities, too. You can easily find sporting and musical equipment, and even sell them on platforms like eBay and Amazon when you’re finished with them!
Vote for Fun, Not Extravagant
Families often get caught up in blowing a budget when it comes to vacations and entertainment. We’re often swayed by Pinterest to create extravagant, magical birthdays, or take our families on trips that might not be practical for us at the moment. This is honestly a result of overthinking what it means to have fun.
Kids have the potential to make great family memories without directly being linked to expensive items or experiences. Oftentimes, they just want the time and space to be kids.
Instead of opting for a night at the movies or a trip to the amusement park, try biking through a local park or visiting a museum on a day of free admissions. Staycations with tents in the backyard and hiking in state parks, where you have the ability to bring your own meals, are incredibly useful for providing quality time with one another without the added costs.
We hope you’ll find these tips useful the next time you shop or find a need for your family that can be met through more creative means. Incorporate these very manageable tips into your habits and watch your savings grow!