Sunday, 26 May 2019

7 Easy Money Saving Tips for Families

*collaborative post

Having a family is expensive, and the cost of having a household to run can soon add up. So, it isn’t surprising that families are often looking for new ways to cut costs and save money. It can be overwhelming and worrying when it comes to trying to manage your finances for your whole family; it can sometimes feel like you are spending money as quickly as you are receiving it.
Worrying about money and making ends meet is one of the biggest worries for parents, but the best way to sort out any financial concerns is to face them head on and not to bury your head in the sand. So, you should consider spending some time going through all your incomings and outgoings so that you can be fully aware of all the expenditures you have to pay. Even if you are in a good place with your finances, then you should still think of ways to save money if you can.
To make this even easier for you, we have put together this guide on seven easy money saving tips for families to make saving your money part of daily life. Saving money is essential, even if you don’t seem to be saving a significant amount of money at a time. Remember, if you look after the pennies, the pounds will look after themselves.

Plan Your Family’s Meals  

Feeding the family is likely to be one of your biggest expenditures each month, so it is important that you try to cut costs wherever you can. The food shopping bill can often bring tears to your eyes, but it often seems unavoidable when you have hungry mouths to feed. However, by being more conscious of the items you are placing into your basket in the supermarket, it will make it a lot easier to save money on the weekly food shop.
You should spend some time at the beginning of each week planning out the meals ahead that you and your family are going to eat, so that you only buy the ingredients you need to make those meals. It can sometimes be difficult to stick to a budget when in the supermarket, and you can often find yourself sliding added extras into your basket. But going without a list is just one of the ways you can guarantee yourself an expensive shopping trip. So, save yourself the extra cost and just stick to what you need!

Get Insurance

It is important that you make sure you and your family have insurance for all necessary cover. Getting insurance can sometimes feel like an extra expense that you could do without when trying to manage your finances, but it can save you money in the long term. For example, the home emergency cover that is provided by insurance provider Certi means that you can have peace of mind knowing that you have boiler cover if needed. This may seem like a very small change, but you may be surprised at how much money it can save you.
The coverage provided by Certi includes a free boiler service and boiler health check, and you can pick a type of boiler cover that suits your needs. Not getting insurance may seem like a cheaper alternative, but your boiler breaking unexpectedly can lead to a pricey bill landing at your door! Not only that, but a good home emergency policy will also cover you for things like plumbing, electrical and pest problems, all of which can be costly.

Cut Your Budget

You may find that you have aspects of your budget that you don’t necessarily need. Often, we find ourselves sucked into packages and subscriptions that we don’t necessarily need but go ahead with because we consider them to be a good deal. But it isn’t a good deal if you didn’t need to pay for it in the first place! You may want to first look at your home TV and broadband package and work out how much it is costing you over a year. If you have an extensive boxset and movie package that you don’t use very often, then you may consider cutting some of the features in order to make your bill cheaper each month.
You may be paying for a gym membership that you never use or a mobile contract that offers you a lot more calls or texts than you will ever use! So, go through all your bills and see if you can lower your monthly outgoings by cutting down what you are paying for but aren’t using.

Use Reward Programs

Some of your favourite shops may run reward programs for their regular and loyal customers, so it is important that you make the most of the bonuses they have on offer. For example, many supermarkets run a points system where the more money you spend with them, the more bonuses and offers you will be able to benefit from. They also track what items you regularly buy from the supermarket and send you personalised coupons that help you get money off your shopping list items.
While you may not feel like you are saving money by engaging with the reward programs that your favourite stores have to offer, you can gain discounts for future purchases from your usual shopping trip.

Sell Things You Don’t Need

Most people have items in their home that they don’t use and could sell on to make extra money, whether it is gadgets that you have never taken out of the box, or books that may be of interest to others, but you have already read. There is bound to be something at home that you don’t need anymore that you can sell on.
There has been an increase in the popularity of second-hand websites such as Depop in recent years as it is a great way to sell your unwanted goods, but also buy the products you are looking for at a reduced price.  

Visit Discount Stores

You should be sure to shop around when it comes to buying things for your family as you may find that a discount store offers the same product for half the price. Avoid the most expensive supermarkets for your food shopping and watch out for clothing sales when buying clothes for you and your family.

Save For a Rainy Day

Even if you are trying to pay off bills and get your finances more manageable, it is important that you continue to save for a rainy day. You never know what expenditure is around the corner, so even if you can only afford to put a small amount of money into your savings, then you should still make sure that you do. Saving up something is better than nothing, and you will be surprised at how soon small but regular deposits add up to a considerable amount.  
Any parent will tell you how difficult it can be to save money when you have a family and household to look after, but you will be surprised at how much of an impact the smallest of changes can have on your overall financial situation. The above money saving tips are a great way to start if you want to easily save you and your family money.

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