Family life can bring a variety of obstacles on a daily basis. Figuring out how to save money while raising children can seem daunting. Luckily, reducing your monthly costs as a family does not require drastic steps. You don’t need to alter your lifestyle entirely in order to see results.
Instead, you should strive to make some simple daily changes that can have a significant impact in the long run. Within this article, you will find eleven effective techniques that you can follow to gain control over your family finances and plan for the future consciously.
Review Your Budget
Firstly, you will need to determine what you and your family are spending each month. It is best to write down your priority bills, income, living expenses and debts. This is the first step to creating a realistic budget plan.
It will help you track where your family’s monthly outgoings are and prepare for future expenses such as birthdays, celebrations and holidays. You can use this opportunity to teach your kids valuable lessons about personal finance. Work with them to create a budget and set savings goals together.
Select A Phone Plan
In order to save on your mobile coverage, you can consider opting for a SIM-only plan. This way you will have the flexibility to upgrade to a better deal or cancel any time. Lebara SIM-only plans are quick and easy to set up. Moreover, tethering is available, which means you can share your data with family and friends.
If you would like to explore the different options for your family, go to lebara.com. A SIM- only plan can fit into your budget plan without any surprises at the end of the month. You will know exactly what to expect upfront.
Lower Energy Use
Another way you can boost your finances is to cut down on energy use. There are some great energy-saving options you can try. For example, you can teach your children to turn off the water when they are washing the dishes or brushing their teeth.
Explain the importance of not letting it run and remind them occasionally by using stickers on the wall near the sinks. You can also encourage your family to switch off lights and devices when they are not in use. Moreover, adjusting the thermostat can ensure nobody can turn it up or down too much.
Reduce Food Costs
If you plan your meals in advance, you will be able to save money as well as time and energy. You can try cooking enough food to last your family a few days and then freeze it up for later. It is important to get the whole family involved in meal planning.
This can show your kids the importance of healthy and balanced eating. Explore these affordable family recipes and add variety to your meal planning. To ensure you are allowing the right amount for groceries, keep receipts and compare what you are spending against what you are expected to spend.
Save On Clothes
Children go through many clothes over the years. Thankfully, there are some ways you can cut costs as they grow. For instance, it may be useful to explore second hand shops.
Most charity shops will only accept good-quality clothes. On some occasions you might even be able to find brand new clothes that have barely been worn. In addition, many parents will often sell their kids’ clothes online. Potentially you may get several outfits at a reduced price. When it comes to schools, it may be possible to apply for support with uniform costs.
Discover Fun Activities
It is common for parents to worry about providing fun activities for their children. However, there are plenty of entertainment options you may not have thought about. Visit your local library where you can find a variety of free books for your children.
They will enjoy browsing and flicking through pages for some time while you have a bit of peace and quiet. Take advantage of the local park and spend the day relaxing with your family. You can also hike on nature trails or pack a picnic. For more ideas you can talk to your children’s school and check if they have any events planned during the term.
Prioritise Health And Wellbeing
Another crucial factor which should not be overlooked is the health and wellbeing of your family. It is important to attend health appointments regularly, such as general check-ups and dental examinations.
Alongside this, you should ensure your children eat a balanced diet supported by appropriate levels of physical activity depending on their age. Moreover, they should develop a consistent bedtime routine for a good night’s rest. This will not only save you on pricey medications and unexpected doctor visits, but will provide you and your family with tons of energy.
Go On A Staycation
If your children have a few days off from school and you are also available, you may be wondering how to make the most of this time. Instead of planning a long family trip abroad, you can opt to go around the country. You can even travel to a city nearby and enjoy a weekend away.
There will be plenty of family-friendly activities that will fit within your budget plans. For example, you can take a beach trip and let your children run through the sand and throw around a frisbee. Keep everything budget-friendly by packing homemade sandwiches and grabbing a water bottle.
Prepare For Gifts
Often it may feel like birthdays get more expensive each year. To help you prepare better for these times of the year, you should plan ahead. You can start putting money aside a few months before someone’s birthday.
If you are buying a gift for a child, you can ask the family to contribute to a bigger present instead of buying individual smaller gifts. Additionally, many online and offline retailers will offer second-hand items such as books, games and gadgets. These strategies can help you lessen the financial pressure that comes with buying presents.
Check Your Subscriptions
The number of subscriptions can accumulate quickly if you don’t take control. Nowadays, many of us may go for a free trial of a service which then rolls onto our monthly expenses. Because of this, you should take the time to review all your subscriptions and determine which ones you should keep.
You may find that there are some services you are not using as much or at all. It is advisable to have a family meeting and discuss all the different subscriptions. Remember that many services such as Spotify will also have an add-supported free version that you can still use.
Make Extra Money
There are some great ways to make money from home to support your family further. This doesn’t need to be time-consuming or strenuous. If you have some spare time throughout the week, you can complete online surveys.
Remember to read the terms and conditions before you apply and check their dashboards regularly to see what is available. Another interesting way to earn cash can be mystery shopping where you are paid to use services or products and report on your experience. Alternatively, you may want to take up blogging or apply for remote admin work.