5 Simple but Impactful Budgeting Hacks for Big Families
Simple yet effective!
Parents of big families always seem to be quick to point out all the fun, laughter, and memories that are made over the years. Siblings often go on to become best friends in life, and there’s just something so special about being together not just when the family is young, but as the kids age, move out and start their own families. But for all the positives, big families also face some challenges. Big families often need to be very aware of the budget to ensure that all bills are paid and everyone has what they need.
If this sounds familiar and you’re looking for a way to make budgeting easier and realize some impactful savings, then these tips are for you.
Use a Budgeting App with Real-Time Tracking
There’s a good chance that as a big family you already use a budget, but did you know there are personal budgeting apps you can download that allow you to track purchases/expenses in real-time? This is a great way to keep track of the money coming in and going out so that you don’t forget or overlook anything. These apps can also offer other useful tools such as customization features, bill payment reminders, taking photos of receipts to store, creating lists, and more.
If you’ve never used one of these budgeting apps before it’s best to opt for a basic one that offers standard features and is user-friendly. If you get to the point where it no longer meets your needs, you can always upgrade then.
Do You Need All Those Streaming Services?
Here’s a question that didn’t need to be asked 10 years ago but, today, with all the streaming services available, it’s very tempting to sign up for a handful if not more. When was the last time you took a look at the price of those services and added them all up? You may be shocked to see the total. Now ask yourself if all of them are necessary. There’s a good chance that you can make cuts.
Check Out Second-Hand Shops
Second-hand shops are nothing short of a goldmine for big families, as they can save you a substantial amount of money. People often think about second-hand clothing stores, but did you know they sell much more? Many of these shops also sell home goods, toys, furniture, electronics, outdoor gear and so forth. The key is to locate a few good shops near you that are known for having a good selection and fair prices.
Start Reading Reviews Before Making Purchases
You can also get into the habit of reading reviews before you make purchases. This will give you peace of mind when spending money, plus shed light on the product features, pros, and cons. You can find reviews on almost any product or service you can think of, so there’s no excuse not to take a look.
It’s Time to Make Cuts to the Grocery Bill
Financial experts always suggest that you find the category that you are spending the most money in and look for ways to cut back. When it comes to your variable monthly expenses, there’s a good chance grocery shopping is near the top of the list for spending. This is a great time to make cuts and only purchase what will be eaten and used that week. Families can find using a meal plan to be helpful, but it’s a grocery list that tends to keep you on budget.
These money-saving tips are all very simple and easy to embrace yet they will be impactful enough that the results will be immediate.
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