We all know that family is one of the most valuable things in the world—which of course could explain why having one is so expensive!
It seems that every day there’s a new expense—or that someone is in need of something—and saving money may feel like a long-lost dream. But just because it’s challenging, doesn’t mean it’s impossible.
Despite its negative connotations, having a family budget can help to open up new possibilities. Instead of getting to the end of the month worried that you’ll have minimal funds left in your bank account, a budget will give you confidence that you’ll have enough for important expenses. You’ll know at a glance exactly what you have. Having a budget also makes it possible to work toward a major savings goal. If your goal is to accumulate $10,000 in your savings account or to save up for a big trip, a budget will help make that possible.
If the idea of having more money at the end of the month appeals to you, and you’re thinking about creating your own budget, here are a few money-saving tips that will help you succeed:
Plan Meals Ahead
Planning meals ahead of time is a great way to expand your budget. Scouring the local ads before you hit up the grocery store and planning your meals around what is on sale is a great way to make your menus budget-friendly. One of the biggest temptations for families, especially during the summer months, is popping into a fast food restaurant for a quick dinner because after a long day, who really wants to prepare a meal? Not many, that’s who! Planning ahead can help ensure that you know what to make—saving you time and making the task less daunting.
You don’t have to be an extreme coupon-er to make this work. Simply avoiding the gimmicks and eye-catching last-minute “bargains” can help you save. You might be surprised to see how quickly those really add up! While, say, one or two small impulse purchases a week probably won’t make a huge difference—if everyone in the family is shopping, and pressuring you for impulse items, things can start to add up fast. Your best option is to make a list and stick to it. It also helps to try to shop once a week. Heading to the store every day for last minute purchases can destroy your budget because we all know that it’s difficult to just buy one or two things!
Save for Vacations
One place the budget seems to take a hit is vacations. Somehow budgets seem to go out the window during vacations. If you are planning a trip, it’s a good idea to save up for it, rather than relying on credit cards to make it happen. It’s easier to save for things then it is to try to pay things off later on. It’s also important to make a budget for your journey—allotting funds for specific expenses such as airfare, lodging, food, and other purchases. Having a plan will help keep you on track, and save you from the stress of overspending. If you’re really trying to save, you may also want to consider having a staycation. Staycations are growing in popularity for a reason—there are lots of fun things just waiting to be discovered in your own local area.
Look for Free Outings
There are plenty of free outings that can appeal to family members of all ages. Libraries, beaches, lakes, parks, and museums are generally all free—or cost very little. Other inexpensive ideas include the swimming pool, local sporting events, or going on hikes, bike rides, and walks. You could also arrange for fun get-togethers with friends, family, or neighbors—ask everyone to bring a dish. You don’t have to spend an arm and a leg to have a good time. Just make sure you’re not focusing on what you can’t do because of your budget, and instead focus on what you can!
One of the best ways to stick to a budget is to be flexible. When something comes up—an unexpected expense or necessary purchase—don’t throw the budget out altogether. Instead, rearrange the budget to accommodate for the surprise expense. Being flexible means that you can adjust your plan when circumstances dictate, and allow yourself freedom and options when necessary. After all, your budget is set up to help you reach a goal—it isn’t the end-all goal in and of itself.
Finally, make sure you have a plan for your budget—a clear and understood reason for choosing to be intentional with your money. Keeping the “why” in mind will help you stay on track and prevent everyone from getting burned out.
Saving money doesn’t mean you have to make drastic changes and it doesn’t mean you can’t have fun. When done right, a budget will give you more freedom, and will help you to be happier and more organized too.
What are your tips for budgeting success?