(ThyBlackMan.com) Now, more than ever, families are learning to make do with that they have…They are discovering tips to save money and make some extra cash along the way.
Most are discovering that if they live frugally, they can afford to go on a vacation or have a few thousand dollars in the bank… But living frugally doesn’t happen overnight. It takes time to learn discipline and learn what works for your family.
These tips will help you teach both yourself and your family how to live frugally.
Make Sure Everyone Is On Board
Everyone has bad spending habits from time to time. It could be that one parent gives in and buys the latest toys for the children…Perhaps another parent eats out for lunch every day at high-end restaurants.
It’s okay to admit to those things, but it’s also important that everyone is on board to live frugally. The family should have a meeting to discuss finances and discuss areas where they can save money, such as making brown bag lunches rather than going out for lunch. Once everyone is on board with a frugal lifestyle, things will look more optimistic…And don’t forget to include the kids.
When everyone takes part in the decision-making process, they are more likely to stick to the frugal living lifestyle.
Look at Spending Habits
There might be some obvious ways that your family is spending money, but there are sure to be some not-so-obvious ways.
For one month, keep track of every single penny that is spent…This could be on gas, groceries, clothing, or anything else. As the month goes on, make sure to document money that goes out, and categorize it. This will help you develop a baseline and analyze what to cut.
Save Money on Clothing
Clothing is a big expense for many households, especially ones that have children. Instead of purchasing expensive, name-brand clothing utilize these tips to save money:
Fix things instead of replacing them. If something is missing a button, sew it…When a pair of pants has a hole, patch it. Leather straps on purses can also be replaced.
Shop sales. Sales are a great way to find amazing bargains. Browse through local ads once a week to find the best sales and save cash.
Shop out of season. A bathing suit that costs twenty dollars in the summer will only be three dollars in the winter…If possible, shop for things out of season.
Shop at thrift stores and garage sales. Thrift stores and garage sales are both great places to find amazing deals. You can pick up an outfit for your kid for a dollar, saving you loads of money in the long run.
Save Money on Utilities
Utilities are another thing that can cost families hundreds of dollars over time…Some families pay hundreds of dollars a month for utilities…This is money that could be saved.
These are some great ways that frugal families are saving money on utilities:
- Energy-saving lightbulbs
- Make sure the house is properly insulated
- Thermal curtains
- Avoid using air conditioners and furnaces until necessary
- Turn off lights when not in use
- Purchase energy-efficient products and appliances
- Unplug small appliances, such as microwaves, when not in use
Learn to Save at the Grocery Store
The average family spends approximately $500 on groceries per month. Depending on the area, they might spend significantly more…Saving money on those trips to the grocery store can save families a lot of money in the long run.
Try using some of these ideas:
- Use coupons
- Check out digital coupon programs (most dollar stores have these)
- Buy things that are on sale
- Avoid impulse buys
- Try online grocery shopping
- Make a list before going to the store
- Meal planning
Saving money at the grocery store can save families thousands of dollars per year, easily!
Avoid Waste
Most families do not realize how many things they throw away weekly that can be otherwise used. For example, plastic grocery bags can be used as smaller trash bags, which saves money on buying trash bags.
Leftovers can become lunch for the next day. Clothing that children have outgrown can be re-sold to make some of the money spent back. Before throwing things away, consider how else they can be used. If food waste is at an all-time high in your household, consider meal planning to ensure that food does not get thrown out.
Frugal Family Tips
While groceries and utilities eat away at a lot of a family’s hard-earned money, there are plenty of other expenses that most would deem unnecessary…These frugal living tips will help you save even more money to finally reach your family goals.
- Pack your lunch for work
- Walk to nearby stores instead of using gas
- Rideshare
- Take care of household items so they are less likely to need to be replaced
- Make your morning coffee or cappuccino at home
- Start a garden
- Learn how to can your own produce
- Pick up a water filter instead of buying bottled water
- Cut unnecessary expenses, such as streaming services that aren’t used
These tips can save families a small amount of money at a time, but they all add up to much larger savings.
Most people associate being frugal with being unhappy and as cheap as possible. While it does mean being cheap, it doesn’t mean buying things the entire family hates. Instead, it’s about saving money so that your family can finally meet your financial goals, such as paying off debt or going on a family vacation.
Staff Writer; Doug Barker
