It’s often that families nowadays find themselves a little short in the pocketbook at the end of the month. You may need to borrow some cash to make a bill payment. Or maybe you’re moving funds from one place to another to make sure you meet your deadlines.
If this sounds like you, it may be time to start approaching your personal finances a bit differently. Here are some great money saving tips for families.
Create a Real Budget
If you’re living paycheck to paycheck or asking yourself at the end of the month where all your money went, it’s probably time you had a budget.
It’s a scary prospect, but a budget is the cornerstone of any solid financial plan. And when budgeting for a family, it’s very important that both heads of household work on and agree upon the budget together. Buy-in is one of the most important parts of a family budget.
How many of you carry around cash?
Yeah, me neither.
But it has been said that paying cash is more difficult for the consumer than paying with a credit card. The pain of paying is different when paying with cash.
So if you really want to make a change, stop paying with your credit cards. Passing cold, hard cash from your hand to the cashier will send a message to your brain…a painful message. And as a result you’ll be adjusting your purchasing decisions quickly.
Reduce, Reuse, Recycle
One of the things I found to be very helpful when I had my second child was the fact that I could reuse almost ALL of my baby clothes. But don’t let the “reuse” cycle stop with clothes. There are so many items that can be used time and time again – clothes, toys, bottles, and more.
The best thing about this concept, is that you can always reach out to your local community, craigslist, and now Facebook Marketplace to find used items in great condition. These are typically just as good as new but for a fraction of the price.
If you’re like us, our food bill is one of our biggest expenses. There are ways you can reduce your spending on personal care and groceries – and it’s couponing.
It may sound like a fad and a lot of work, but it is possible to cut your grocery bill by taking a few smart steps. Follow some of the best couponing tips on sites like The Krazy Coupon Lady.