Family Magazine

Money Saving Tips to Cut Family Expenses

By Peppertan

When it comes to looking after a family, any parent will tell you that it doesn’t come cheap. Along with putting food on the table and making sure that your family home is warm and comfortable, you also have to think about things such as entertainment and leisure for the family, educational costs, transportation, and more. Luckily, there are many savvy tricks that you can use when it comes to cutting costs and saving money on your monthly expenses. Here are some top tips for families who’re looking to cut their monthly expenses and save more.

Tip #1. Saving on Groceries:

When it comes to family expenses, there’s no denying that monthly grocery shopping can take up a huge part of the budget. Shopping at discount grocery stores is ideal for many families, since it allows you to make your budget stretch more. Meal planning is also a good idea, since this makes it easier for you to know exactly which groceries you’ll need to purchase for the week or month, minimizing your risk of overspending on things that you don’t need. To save further money on groceries, you can also use vouchers, which you can find available from discount sites online, or by joining grocery store loyalty schemes when available to earn money off your future purchases.

Tip #2. Transportation:

Today, more and more families have two vehicles. If this is the situation for your family, then you might want to consider cutting back to just one – not only is this better for the environment, the amount of money that you can save simply by choosing to run and insure only one car, rather than two, can be substantial. On the other hand, if you are simply unable to cut down to just one household vehicle, then it’s a good idea to consider a smaller, cheaper car for the second one, which costs less to insure and is more economical on gas. Electric cars are also a cheaper alternative when it comes to monthly running expenses, although they are more expensive when it comes to the initial cost.

Tip #3. Debt Consolidation:

Many parents find themselves in a situation where along with having monthly household expenses to commit to, they must also pay off historic debts, such as credit cards, hire purchase agreements, and more. Wherever possible, it’s ideal to seek to consolidate these debts, for example by taking out credit from PersonalLoanOffers.com which can be used to pay off smaller debts and get the monthly payment down.

Tip #4. Entertainment and Leisure:

When it comes to keeping yourself and your family entertained, there are many ways in which you can save money. For example, you can find local events with free admission, and choosing to visit attractions that offer child tickets for free can save you a substantial amount of money. At home, opting for DVDs over cable TV, or even signing up for a service such as Netflix instead can create great savings.

Do you have any family money saving tips of your own to add? We’d love to hear from you in the comments.

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