This Guest post is written by Rebecca Williams, an aspiring writer
If you have a growing family, you’re probably finding that saving money is becoming a bigger priority with every new mouth to feed. Thankfully, sometimes the best way to save money is buying in bulk and working together as a family to grow your savings. This article will help guide you through some tips and tricks for saving money in every aspect of your life.
Are you ready to make your dollar work for you? Keep reading to learn how to save money for your family’s future starting today – whether you’re a family of three or nearing a dozen and counting.
Table of Contents
Creative Ways to Save Money on Food
With every new mouth to feed, buying food becomes a bigger priority, especially as your children grow. These tips will help you save tons of money while feeding your family.
Tip 1: Buying in Bulk
The first thing your family should do is begin buying in bulk. Traditional places like Costco are great, but you can also buy bulk staples en masse on the internet for wholesale prices. Always make sure to buy what you can use before the expiration date as to not waste money. Otherwise, bulk-buying your staples online is the way to go.
Tip 2: Local Discount Grocer
You can also search for your local discount grocer for snacks and ingredients you may not otherwise buy. Often these retailers have food past its sell-by date or snacks with misprinted labels. At these grocers, a crate of soft drinks can be as little as $1.99. You can even get a bag of gourmet coffee for under a dollar. While the selection will always vary greatly, this is a great way for your family to have fun meals and snacks on a strict budget.
Tip 3: Freezer Melas and Meal Planning
Life happens sometimes and cooking a big dinner from scratch just isn’t on the agenda.
Prepare easy and delicious freezer meals ahead of time so that no one feels the urge to go buy expensive fast food when time is of the essence. Planning ahead also will help your family stay on-budget time and time again.
Learn New Ways to Save Money on Clothes
Clothing is another area where parents can spend a lot of money. Kids want to look nice, and mom and dad might want to as well! Here are our tips for keeping everyone well-clothed
Tip 4 Clothing Rental Services
Use a rental service if you need to look professional for work and events. You can use a subscription rental service such as Rent the Runway. You are able to return and keep 4 items at a time at your discretion, allowing you to always look sharp for every meeting without breaking the bank or worrying about how many uses you’ll get from that dress you bought for the Gala. Big interview coming up? They have plenty of suit options, too.
Tip 5: Local Parent Groups
Often you can find local parent groups on Facebook or Redditt where moms will be giving away boxes of children’s clothing. Work your network and be an active member of the community, there is nothing wrong with hand-me-downs!
Tip 6: Coupon Apps
Ensure you are downloading coupon apps to use while you online shop and to verify you’re getting the best price. Apps like Honey can manage all of this for you. Just download to your Google Chrome browser and you’re good to go!
Use What You Have to Save and Make Money With a Side Gig
Do you, your spouse, or your child have a special skill or talent that is marketable? Maybe there’s money laying under your nose? This may be something you can utilize to make sure you are putting more money towards savings.
Tip 7: Rent Out Space
Rent out the guesthouse on a rental service. Sites like Airbnb allow you to rent out all sorts of spaces. While you won’t want to allow strangers into your home with kids around, that nice camper can make money in your very own backyard through Airbnb.
Tip 8: Trade Goods and Services
Trade goods and services with your community and build goodwill as well as save money. Maybe your oldest can tutor a neighbor’s kid who’s mom is a hairstylist. You never know until you get out there! Create a Facebook group for your neighborhood and start a weekly trading post to get the lay of the land.
Tip 9: Hold a Yard Sale
As Marie Kondo says, let it go if it doesn’t bring you joy. Make sure to hold yard sales often and organize community yard sales to attract more customers. There can be a lot of value in your miscellaneous stuff!
Never Leave Money on the Table Due to Debt and Taxes
Tax season can make or break a large family. These tips will help ensure that you aren’t leaving hard-earned money on the table and you’re able to put it towards your family’s happiness and future.
Tip 10: Resolve Any Current Tax Debt
Make sure to resolve any current tax debt by choosing a reputable tax company instead of doing it yourself. A company will be able to work directly with the IRS, and they know tips and tricks for getting you out of tax debt and saving you money.
Tip 11: Beat Credit Card Debt
It takes money to make money, and getting out of credit card debt will help ensure that you have all the resources you need to grow your family’s wealth. Make sure to use a debt negotiation program that will help you resolve debts quickly and at a lower cost.
Tip 12: Hire a Tax Professional
If you are worried about owing a lot of tax money, the best thing you can do is hire a tax professional to use every avenue available to save you money and possibly even earn you a tax refund. This list of popular deductions for the 2019-2020 tax year gives you just a taste of the possible tax credits you could be leaving on the table, and many of them are for child care, education, home office expenses, and more.
While there are so many other creative options towards saving money for a big family, this simple list of 12 ways will make a huge impact. From saving money to daily expenses such as food and clothing to making sure you never leave money on the table from your unused goods or hard-earned tax dollars, your family can be well on its way to financial success with just a few surprisingly fun life changes.