Crucial Money Saving Tips for Parents
Sometimes in our lives, you know change is coming. Either you know it needs to happen, or just by your circumstances, it’s going to happen. At moments like these, fighting off any anxiety is the best course of action. Change happens all the time, all over the world and every single day. But, you’re at a time in your life when you have a family and their needs matter more than anything else right now.
Why you need a budget
Calculating your income versus your household expenditure is crucial for running your day to day priorities. On top of that, you never know when an emergency may suddenly appear, so you don’t want to be caught in the middle or a rock and hard place. Sit down at your kitchen table and write out the main spending requirements of your daily life. If you don’t keep your finger on the pulse of your spending, you may find yourself sinking into debt. Bullet point a list into categories and or of importance.
- Household bills
- Living costs
- Children expenditure – e.g. school uniforms, books, school lunches etc
- Travel .e.g. Car costs for fuel, repairs or train ticket
- Luxuries such as holidays, social outings, meals out
6 Smart money saving tips
Household bills are usually at the top of the list, be careful with the use of electricity e.g. don’t leave room lights on with no one in the room. There are so many shortcuts in this area, so delve deeper into your largest payment and figure a way to reduce it. Refrain from leaving the TV on as background noise or if no one is watching it. If food can be microwaved rather than cooked on the stove, do so. Don’t leave mobile phones fully charged, but still hooked to an active plug.
Don’t be afraid to go and enquire from a public authority, the types of benefits you are entitled to. This could make life so much easier and less stressful. Enquire a way in which your local government can assist you further and if there are any programs which you can join to help with your basic living standards.
If you’re in a tight situation where you have no vehicle and money is tight, some companies such as offer contracts to those with bad credit. Traveling at your free will can shorten journeys and thus save time for other errands which you may need to run.
Shop around to find the best utility suppliers on your budget; don’t pay a penny more than you have to. Everything from your electricity supplier, to your broadband company. Look online for helpful tips to find the tricks of the trade, read through pieces such as http://www.moneysavingexpert.com/utilities/switch-prepaid-gas-electricity to gain the advantage.
Shop with a savvy eye when doing the weekly food shop. Products which are closer to the end of their sell-by-date the supermarket brands will put on sale at a cheaper price. Food which is essential and mass produced like eggs and pasta go a long way and are priced quite affordably when you buy in bulk. Shop smartly and you need not go over $50 every week for groceries.
Collect loyalty points from wherever you shop. Be it at the pumping station getting gas, or shopping for new clothes your children can wear. Vouchers and coupons are incredibly useful in saving you $5 here and there. Don’t be too proud, you’re in a bind and you need to look out for you and your family.
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