Living life to the full costs money; there are no two ways about it. Increasingly, families are having to worry about balancing their bank accounts with putting food on the table, entertaining the kids and keeping up appearances.
Yet, with this concern comes the opportunity to be truly savvy with your spending. It may be easier than you think to make a few financial hacks in your life and see your dollars more in the black than the red. In all aspects of your daily living, from how you eat, to how you spend at home and when you’re out, there is a way to live with maximum enjoyment and minimum spend.
Food: don’t throw away food (or money!)
One of the biggest wastes in today’s homes is through food; that is, wasting money by purchasing groceries you don’t eat, as well as sending unused foodstuff to the trash pile.
You can easily reduce your wasted grocery spend in several ways. Firstly, try to encourage your kids to be open and accepting eaters, rather than picky ones. If you’ve got several mouths to feed around the table, and they all have different preferences and distastes, you’ll find it increasingly expensive to cater to everyone’s needs. Online, you can find top tips on how to wean your children to love food from an early age.
Secondly, if you do have leftover food (either in its raw or cooked form), you should store it in airtight containers to be used again the following day. Many ingredients can be rejigged to create a different tasting meal, without wasting a morsel. Freezing is also a great way to cut down on food waste.
Food: plan ahead to keep costs down
Scheduling meals not only cuts back on wasted food and money but also allows you to make the most of the offers in the grocery store. Most grocery stores have promotional magazines advertising the following week’s special deals, so see what you’ll be able to pick up at a low price and plan your meals accordingly.
Food: share with the neighbors
Of course, you’d be forgiven for thinking that having the same meals on a weekly rotation would get boring fast, so why not partner up with your neighbors to share leftovers and have a crossover in your family meal plans?
Not only will this bring you together as a community, but will allow all families to save a few extra dollars week in, week out.
House and home: be energy efficient
Energy efficiency isn’t just a craze anymore; it’s a lot of people’s primary approach to home design. True, investing in water-efficient showerheads, double glazed windows, solar panels, and smart energy meters may feel like an unnecessary — and unpleasant — upfront spend, but once you get them installed you’ll soon start to see your utility bills plummet. Being energy efficient is better for the environment and for your bank balance.
House and home: curb your redecoration spending
When you’ve got a family, the home can start to look tired and in need of updating very quickly — indeed, you may need to do some emergency repairs should your toddler draw all over the wall with marker pen!
Yet, you needn’t do a massive overhaul to give your house a new lease of life. There are many approaches to budget decorating, including doing-it-yourself and investing in high quality, long lasting goods, which will up the value of your home, without draining your savings.
House and home: think secondhand first
You may be surprised to see the quality of products available in second-hand furniture stores and at flea markets, often at a dramatically reduced price versus furniture stores.
When it comes to furnishing your home, try to “think secondhand first” as a rule, only splashing out on new, off-the-shop-floor goods when you really can’t find a suitable pre-loved alternative. Indeed, if you’ve got a creative streak, you can set yourself up with some fantastic up-cycling projects; you could even look to start up your own business from home, selling the items you’ve restored.
Entertainment: group together for joint deals
Kids — and adults too — are increasingly dependent on entertainment services, whether it’s Netflix, Spotify, or another media streaming platform. Did you know, though, that you could be making big savings if you get a family account, rather than hosting individual profiles?
Even if you’re not a big family, you can pair up with friends or extended family members to create a family profile and split the cost between you. You’ll still receive the same great media catalog but at a much lower price.
Entertainment: look for vouchers and family deals on days out
It’s no fun to cut costs on family days out, especially during the winter months when cheap or free days out are less easy to come by.
Make it your mission to hunt down the best promotional deals or voucher codes for family days out. Many restaurants, theme parks, museums, and bowling alleys will either have daily deals or monthly subscriptions which, in the long run, will keep your costs to a minimum. If, as a family, you’re often going to the cinema, you may benefit from becoming a card holding member, to receive discounts on tickets, popcorn, and other expenses. Every little helps in the long run.
Entertainment: “staycation” versus vacation
It’s tempting to think that vacations need to be spent in far-flung locations. Yet, there’s likely much to see and do right on your doorstep. Next time you go to book a holiday break, consider whether you need to spend so much money on travel and instead explore the options on your own, or neighboring, states.
Furthermore, for a lot of people their vacation is an opportunity to relax and take it easy; so why not stay at home instead? Treat the family to a few new DVDs, some tasty food, and enjoy each other’s company from the comfort of your own place.
Maximum living, minimum spend
Hopefully, now you can see how you needn’t cut back on how you live to save money; simply tweaking your approach can help bring down your overall spending.
