Money Saving Tips for Families

Ben Franklin understood that money saved is just as good as money earned. Families can expand the quality of their life by spending smart and choosing less expensive and often more satisfying options. Keep in mind that the more money you save, the less time you will have to spend at work.

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Pack Your Lunches

Avoid paying high dollar prices for low value meals at lunchtime. Plan to cook more than required for dinnertime meals and take advantage of leftovers. Pick up some fresh fruits and vegetables to maximize nutritional value and your family will be healthy, wealthy, and wise.

Carpool or Take the Bus

Reduce wear and tear on the family vehicle by joining a car pool or using public transportation. Many families find that they can get by with a single car by doing this and decrease their total cost of monthly insurance payments. During a drive-free commute there is time to read or even study.

Share Childcare with Other Families

Families with small children understand how expensive childcare can be. When the kids are young, it takes a significant bite out of a paycheck. Set up a local childcare exchange to reduce the cost but be prepared to pull your fair share of babysitting duties.

Organize Your Kitchen Storage and Keep It Stocked

When kitchen storage areas aren’t well thought out, grocery bills rise due to last-minute full-price purchases. Spend some time thinking about the everyday staples that you need and make a list of them as well as room for them within your cupboards. Buy these basics when they are on sale and watch the cost of feeding your family plummet.

Avoid Using Your Credit Cards

Those interest charges can add up rapidly. Reduce the number of spontaneous purchases made throughout the year by developing a plan of acquisition at the beginning of each year. Save a little each pay period towards your goal and pay cash. Credit cards should be reserved for major purchases with a plan for early pay-off. An automated savings account should be invested in, no stress – just watch the money build up.

These simple tips will not only save you money, but will also help you to organize and plan your life. By eating better foods, getting quality childcare at an affordable price, and using alternative transportation options, you’ll have the extra cash on hand to eliminate the need to use credit cards. This snowball effect helps to reduce financial strain while improving the quality of your family’s life.

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