The growing cost of raising a family has many people looking for ways to save money. However, most folks don’t want to drastically change their current lifestyle just to save a few dollars. Luckily, there are a few simple changes you can make that can save you hundreds of dollars each year without making you too uncomfortable. Take a look at these 4 family finance tricks that can help you save instead of spend.
Plan Your Meals and Grocery List Ahead of Time
A surefire way to overspend is to go into the grocery store without a game plan. Picking up items here and there with no plan in mind can add up quickly. It’s a good idea to always plan your meals in advance and create a curated grocery list from those meals. Before your week begins, sit down and think about what meals need to be planned for the week. Make sure to include breakfast, lunch, dinner, snacks, and beverages. If you plan your grocery shopping in advance you can save money by choosing items that are on sale and you can prevent buying extra, unneeded food that will go to waste. One key way to save money on groceries is to plan your meals based on what is on sale rather than on what you feel like eating or what is recommended by the most recent fad diet.
If you collect all the sale papers or use an app like “Flipp” and look especially at meat prices and plan your meals around that you will easily end up saving money. Another tip is to have a big enough freezer to be able to buy meat when it is on sale. Meat varies greatly from store to store and buying bigger packages and freezing some can easily cut your meat bill in half. Also having a couple of meatless meals a week can reduce your meat bill by 20%.
Using a meal planning app like “SuperCook” lets you put in the ingredients that you have to come up with cool new recipes to use those ingredients.
Also, remember that the less processing and packaging the cheaper (and healthier) it will probably be. So frozen dinners will generally be more expensive than making them yourself, canned kidney beans will be more expensive than dried beans, etc. Of course, this means that cooking will take longer so you need to plan ahead and possibly use a crock-pot, pressure cooker or the great new favorite the Instant Pot.
There are a few exceptions to the “processing rule” and that is frozen vegetables. Often depending on the season, frozen vegetables and french fries will be cheaper than fresh vegetables and potatoes. Sometimes they even taste fresher since things like peas, corn and green beans are frozen the same day they are picked. Tater tots on the other hand, probably follow the more expensive rule since they require much more processing and preservatives than regular frozen french fries.
Buy Secondhand
Buying items secondhand is a major way to save money and is so often overlooked. When you think about thrift stores or consignment stores, you may just think about clothes. While quality, name-brand clothes are great to buy secondhand, there are so many more things that you can buy used. You can save thousands of dollars by buying used furniture. You can find dishes, couches, bookshelves, dressers, and more at used furniture stores or online from an individual. Other items that are great to buy used are exercise equipment, books, toys, and outdoor gear.
Take Advantage of Free Local Programs
Entertaining yourself or your kids doesn’t have to be expensive. Check out what free attractions your local area offers. Libraries are a great place to start. They, of course, have plenty of fun books to check out, but they also often host free programs. Make sure to check out local parks, museums, playgrounds, splash pads, and pools as well.
Consult a Professional
Many families do not consider themselves in need of professional financial services, but they can be a great asset to many. A professional financial advisor can help you get out of debt as well as build wealth. The industry of wealth management across the U.S. is made up of thousands of financial advisors, and you’re sure to find the right one for your family. Ask friends, family, or colleagues for recommendations, or search online.
If you’re feeling like money is tight, sit down and take a look at your finances. There may be some simple ways to cut out unnecessary expenses and put that money back into your savings account.