Budgeting Tips For Big Families

March 14, 2019Mandi Morrison

Raising a large family is fun and chaotic, but never easy because money is always a question! Alongside money, your self-satisfaction is a big factor that plays a vital role. Here are some things that help when the pockets are empty and the bank account is running low!

  • Balance your budget

Never let your budget get out of balance, there is always a something that you can reduce to save money. Check out 7 Things You Can Do Everyday To Save Money

One very we easy way to keep balance is the fixed expenses we have. They make a big difference in our budget because we cannot run away from them! Although they can be minimised, well you’ll definitely have to sacrifice a bit for that but it is worth making the effort!

  • Pile up

Save for later! It’s as simple as that! Buy consumable when they are cheaper. Summer clothes in the winter, and winter clothes in the summer. What about food, it’s the opposite. Fruits are cheaper in their seasons. This is when we stock up on our canned food!

Planning meals before time allows us less trips to the grocery store. When a busy schedule demands that we shop once a week, instead of making multiple trips.

  • Outings

We all love holidays! But we also need to love planning one! Keep flying a last resort, go for your car and enjoy endless car games, watch back-to-back movies, and enjoy grabbing unique snacks in different towns.Ask friends and family if they know of a nice place to visit, a helpful friend or relative may share their secret vacation places with you! If you have chosen to take the family on a Day Out, check out money off vouchers in local brochures or find an app  like Kids Pass that saves you money on days out, Kids Eat Free deals can be found in most chain restaurants, and family tickets at attractions always save you money.

  • Promotion

A rise in pay will make you go wild on spending more! But first work it out! after tax, are you actually only getting less a month?

Whatever it is, however little it may be, put it away each month. If you’ve survived without it this far, you’ll pretty soon have an unexpected series of expenses to cover, for example, being unable to work for three months due to an injury, or a last-minute family holiday.

  • Uncertainties

Everything at home breaks after some time, TV, the games console, the oven and usually on the same freezing cold weekend when we least expect it!

Do you have a money fund stashed away in a separate account somewhere? If not, it’s time to think about one because life is all about uncertainties that are the toughest to tackle and you don’t want to fall without parachute. Start saving gradually in a separate account to the one you use for day-to-day spending. However it can be difficult to save as there is always something that needs paying urgently, so you may want to consider quick loans that can provide you with instant cash for that family emergency.

  • Awareness

The most important of all! Teach your children to understand the values of life. What’s important and what’s not. Where to spend and where not because it takes a whole lifetime to understand these priorities. Starting from today will make it easier for them tomorrow. Your goal should be the mutual understanding that keeps the family together, teaching teenagers to save money will be hugely beneficial to them when they find themselves away from home at university, I am always amazed at how well our eldest daughter budgets when she is away at uni, she has a natural ability to look for the best deals and decide what is a necessity and what she can do without.

this is a collaborative post

Leave a comment

Your email address will not be published.

Prev Post

Where have those 21 years gone

March 14, 2019

Next Post

When is The Right Time for Our Kids to Start Learning a Second Language?

March 15, 2019