Easy ways to save the family budget
The essence of the family economy
Many people often face the situation when it is necessary to “catch up to get a salary”. Simply put – to distribute cash for a few days or weeks, rather than asking for loans from relatives and creditors.
For some this way of life becomes habitual, for others this problem becomes relevant only in emergencies. Be that as it may, living in anticipation of receiving a salary and being very dependent on the “X” date is not a pleasant pleasure.
It is especially difficult for families with children to lack money. After all, it is difficult to explain to a child that you can buy her candy only in a week, not now. Understanding that you promised to buy your son a new bike in the spring, but no money, is depressing. And the question of spending a summer vacation at sea in some families has not been raised for several years.
Why, with the same level of income, do some families afford to buy everything they set out to do, while others can’t afford to make ends meet? We bring to your attention the experience of successful home financiers who are guided by only a few key rules to save budget.
Regular review of the family budget
Understanding what you and your family spend each month is the first step to controlling your finances.
Weekly planning of all priority expenses, income and debts can be useful to you. The budget helps you keep track of where your family’s money is spent each month, as well as plan for any future expenses, such as getting your child ready for school or buying gifts for the upcoming holiday.
If you are dealing with debt or a small income, you may be tempted to drastically reduce the cost of food and necessities. Don’t do this, so it’s important that your budget is realistic. No matter what your financial situation, the well-being of your family should always come first.
Save money at the beginning of the month or create a savings plan
A good way to save money is to set aside a reasonable amount on demand deposit at the beginning of each month.
The great advantage of this method is that if you spend more money than planned, you will have to withdraw part of the deposit. From a psychological point of view, this will protect you from impulsive shopping and help save.
This way, without harming your family, you will be able to increase your deposit every month, which will be significant by the end of the year and can be a good help for a big and long-awaited purchase.
Use the shopping list
Before you go to the supermarket, make a list of all the products you want to buy and follow it. When making a list, think about what you want to cook for the next few days. This way you will avoid buying perishable products, which will then have to be thrown away, and save money.
Never go shopping hungry
Accept this rule! After shopping on an empty stomach, the basket is filled with cookies, chips and other “useful” things that you would not buy if you ate at home. Saving money is different.
So our advice: eat something like a muesli bar or a banana before you buy. If necessary, if the refrigerator is completely empty, drink half a liter of water.
Follow the promotions for food
Promotions and discounts on a certain range – a great way to save. Each supermarket chain regularly publishes brochures advertising the latest promotions.
Compare electricity tariffs and change suppliers if necessary
Have you used the services of the same electricity supplier for a long time and have never changed it? Did you know that switching to a new supplier can save you hundreds of dollars a year? A simple tariff calculator on the official website of the electricity supplier will help you choose the right and cheap tariff. Depending on the level of consumption, the region and the time of day when you use electrical appliances the most, the corresponding tariffs will be displayed.
If you really want to save money, change your electricity supplier every year. Most providers offer a discount for new customers, which makes electricity really cheap.
Avoid fast food and ready meals
How long have you been feeling full after eating a hamburger with fast food, french fries or pizza? We are sure that no more than an hour, because after this time the human body needs even more calories. This is confirmed by many studies.
If you sometimes eat a hamburger or order a pizza, the family budget and the health of the household will not be greatly affected. However, those who regularly resort to fast food have various problems.
Our saving advice: set limits, such as eating fast food only twice a month. It’s easy to follow, so you’ll save money and stay healthy.
Prepare in advance to save money on birthdays, Christmas and other events
Early planning of the gift budget can save a lot, especially on New Year’s holidays, March 8, etc
You can reduce costs by:
- Minimize your “gift list”. Don’t feel obligated to buy gifts for everyone you know. Try asking friends and family how they feel about sharing gifts this year.
- Set a spending limit per person and stick to it.
- Start saving money at least three months before a holiday or someone’s birthday. Even the little things in the bank accumulate over time.
- Are you buying gifts for a child? Ask family members if they want to make one big gift instead of buying many small inexpensive gifts separately. In this way, your child will receive, for example, a long-awaited electric scooter, which will last him several years.
- When deciding which gift to buy, make sure that the purchased item will be useful to its future owner and he will actively use it. This simple rule will help you spend money wisely.
- Use cashback when shopping. If you do this for a year, you will not notice how you will have extra money.
Prepare lunch boxes for yourself and your family
You can save a few hundred dollars a month if you give up business lunches in cafes during working hours and prepare snacks for children (school, university).
Homemade food will be cheaper, and it will be much healthier, more nutritious than ready-made fast food. Also, don’t forget to have breakfast. Who does not know the saying: “Breakfast like a king, eat like a king, eat like a beggar.” A healthy, rich and balanced breakfast provides the body with energy for the whole day and increases productivity. In addition, it restrains the desire for an expensive, hearty lunch, which will save money.
How do you spend the weekend? What do you like to do with the whole family? Unfortunately, the most popular places for family recreation are shopping and entertainment complexes. Although the name of such institutions is the word “entertainment”, but still their main direction is trade. Everything is sold here: movie tickets, snacks, popcorn, ice cream, a variety of clothes and shoes, toys and other things needed in every home.
How is your time in the mall? Mom tries on new clothes, dad stands in line for fast food, children have fun on trampolines or play slot machines. Returning in the evening after such a “vacation”, it becomes clear that a lot of extra was bought, and a decent amount of honestly earned money was spent on entertainment.
Maybe it makes sense to try to relax in nature? In winter it can be skating or sledding, and in summer organizing a picnic in nature, a walk in the park, picking berries and mushrooms in the woods.
Buying children’s things
Everyone knows that children grow up on yeast. In the first year of a child’s life, parents do not even have time to dress him in all the purchased or donated sets, shoes, outerwear, the cost of which is more expensive than an adult wardrobe. Thus, completely new things become unnecessary.
Our grandmothers did not throw anything away at one time, children’s things were inherited from older children to younger ones. It was a good tradition that saved a lot. In today’s world, specialized resources have been created to help organize sales, exchanges or gifts between parents.
If you do not have the opportunity to buy a stroller or car seat, you can rent the necessary means to transport the baby for the period you want.
You can’t buy health, but everything you need to prevent disease and strengthen your immune system can be done. After all, it is cheaper than treatment later.
Try not to neglect free professional examinations, walk in the fresh air every day, cook healthy food at home – these simple rules will help you and your family to avoid many common diseases.
When one of the family members still falls ill, a trip to the doctor ends with the purchase of expensive drugs at the pharmacy. Most expensive drugs have cheaper counterparts that are not so advertised. Television commercials show us daily medications that can cure a cold in one day. Do not rush to buy them right away. Most of these drugs contain regular paracetamol, which costs a penny.
If there are no special indications, it is better not to abuse vitamins or supplements. When a person eats normally, all the necessary vitamins and trace elements come from the product into his body. Some products are made independently.
Exercise daily. If you are not used to regular fitness, it is better not to buy a gym membership, because according to statistics it does not pay off. Children can be enrolled in free sections for swimming, wrestling, football, dancing.
Planning big purchases
Before buying expensive equipment or car, it is important to carefully choose the model. Focus not on the attractiveness of sentences, but on their functionality. To what extent will the new purchase meet your needs, what is its level of quality, and to what extent does the price meet the stated characteristics?
Some purchases sometimes require months of monitoring and analysis before making. Compare the parameters of the new model with the previous one – usually technical differences are insignificant, and the difference in cost is significant. If the desired device has a seasonal sale, it makes sense to wait for it and buy the thing at a good price.
Remember one more rule, multifunction devices are often an unnecessary “pumping” of money from the consumer. A person pays for many additional options in the device, but in fact then uses only a few.
Holidays at sea or abroad with the whole family – not a cheap pleasure. But you can plan a vacation in advance, for example, for six months. This will allow you to choose the optimal date, buy cheap tickets or a ticket. For family holidays, the hotel is located near the shoreline, so you can take the children to the sea every day, instead of the usual pool.
If possible, go on vacation by car, on a pre-designed route. This type of recreation allows you to visit many places, stop on the road near water bodies, in forests, at various recreation centers.