Simple Family Budget Tips

Household Spending

Household Spending

Times are still tough with various economies still struggling and many in recession. The unemployment rate is still high in the USA and many families are having to make do with less money. Here are some simple tips on how to find some extra money in your household budget through cost cutting and clever thinking!

Shop Smart!

Always create a shopping list
It has been often repeated that using a shopping list is one of the best ways to save money. That is because you are thinking through purchasing decisions very carefully while making a list and not impulse buying while in the shopping center. It’s especially handy if you have to take the kids with you to the shopping center because it helps you stay focused on what you actually need and not waste money on non-essential items and items you will regret later. You can also check if you “really” need an item before putting it on the shopping list.

Use Cash
If you take cash to the shopping center and leave most of the credit cards at home (only taking an emergency card), then you are less likely to overspend. Just take enough money to buy what is on the shopping list – this way you won’t accidentally overspend.

Plan for purchasing decisions
Use a calender to make a note of any upcoming expenses and purchasing decisions. On the calender jot down major expenses like bills, car registration, mortgage payments and so on. Then jot down non-essential yearly expenses like birthday presents, Christmas presents, holiday expenditure and so on. Then you will have great foresight as to the upcoming expenses and the regular bills. That also means that you can plan ahead and look for ways to save money, like buying a birthday gift a month in advance if you see a great deal on the Internet.

Change where you buy
Are you stuck in the same rut of just visiting the mall and going to the same stores? You may be able to save money by looking at other ways to purchase essential and non-essential items. Farmers markets are often a great way to save money, as is the Internet – you can get great deals on sites like Ebay and from online retailers. But once again, make sure you either really “need” the item or it fits into your spending plan and income.

Save money around the house

Save money on cleaning products
There are plenty of natural alternatives for cleaning your home. The great news is that many of these alternatives not only save you money but are healthier for you. You can cut the number of chemicals in your house while reducing spending by using common household items like bicarb soda and vinegar to clean your house.

Buy in Bulk
There are a number of household items you can buy in bulk because of their long expiry times. That includes things like sauces and preserves in jars as well as ready to eat frozen meals. When you see them on special, feel free to buy a larger amount. You can also cook larger amounts and freeze them in containers which saves you on cooking time and saves money in the long run.

Start a small garden
If you use a lot of fresh herbs and vegetables like tomatoes, you can save money by planting a small garden in your back yard. Fresh herbs from a grocer can cost a few dollars per bunch so you can easily save money by growing your own. In addition you can also live healthier because the food is organic, you can show your kids how to garden and you have a healthy and relaxing new hobby which gets you outside everyday.

Get your paperwork in order

Organize your paperwork
Make sure all of your financial paperwork is located in one place so you can do your taxes more easily. By being more organized you may also be able to obtain more tax deductions. By having your paperwork organized you can also pay bills more efficiently as you know what bills are paid and what are on their way. This helps you avoid late fees and saves money.

Take a look at bank account and credit cards

You might be able to save money by examining your bank accounts and credit cards and looking for any kinds of savings. You might be paying an excessive interest rate on your credit cards, or have a lot of fees attached to a savings account. Spend a few hours examining what other financial institutions are offering and consider switching.

Write a budget!
This might take a bit more time but can improve you financial position and peace of mind massively. A proper budget will include all of the details about how much income you have and exactly what you spend it on. It’s a great tool for analyzing your spending habits and finding interesting new ways to save money. In addition, creating the budget might help you come to terms with your income and start thinking about generating new sources of income.

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One Comment on “Simple Family Budget Tips”

  • A great, practical article! In my blog I recently wrote about how buying bulbs, planting them up into pots and giving them for gifts is a great way to save money. I did it recently with daffodils and saved a fortune! Five gifts for a very small expense. Enjoying your blog. Thanks.

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