You would be surprised at how many people are living paycheck to paycheck. The stress that comes with that is overwhelming, and if 2020 taught us anything, it is to reduce stress, reduce debt, and be more financially prepared for years to come…because we truly do not know what life is going to throw our way. To do this, a good place to start is to save on family expenses. Here are 4 ways to save on family expenses4 ways to save on family expenses Click To Tweet
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4 ways to save on family expenses
Buy your food in bulk
Places such as Sam’s Club or Costco might seem a bit pointless since you have to pay a membership fee, but buying in bulk creates great savings over time – I can promise you that! While you do spend more money upfront (buying 5 lbs of chicken instead of 1), the next week or two of not having to buy more chicken is a huge saving, so you have to think of it that way. Also, if you have a big family, buying larger bags of chips or larger baskets of fruit is definitely the way to go since you get the most bang for your buck. Aldi is also a great place to shop for groceries without spending an arm and a leg + Thrive Market, if you like healthier options, too. Do not rule out the Farmer’s Market, either!
Eliminate monthly services, when possible
The potential here is almost unlimited since most of us have services we hardly use or don’t ever use at all. Take it year by year – eliminate one thing per year, if that is easier for you. It could be canceling a hardly used gym membership for one year, a landline telephone service the next, and cable TV the year after that. It may only be $50 to $100 per month, but it really adds up over the years. The easiest way to do this is to have a constant budget going. A few other things to consider canceling: monthly pest control (switch to nothing at all or a cleaner DIY option that won’t kill the bees!), weed control (again – DIY or don’t do anything at all to save the bees and water animals), and your dog subscription box.
Fine-tune your housing costs
Housing is likely to be your largest expense as a family, and there are several money-saving tips for families so you can trim down these costs to make it a little more affordable.
You could install a programmable thermostat to keep your heating and cooling costs down. Set the thermostat to lower (or raise in the summer) the temperature automatically when you’re out of the house or turn off the air conditioning when you don’t need it. For even bigger potential savings, refinancing your mortgage could lower your monthly payment.
If you’re open to something more drastic, you could think about downsizing to a smaller home or rental, perhaps after one or more children have left for college, as a way to save money on family expenses. You could also consider using your home to generate income by renting out a room on a vacation rental website. If you’re considering this route, be sure to check your local housing laws to make sure it’s allowed. Many cities, counties, and municipalities have restrictions on short-term rentals. No matter if you are choosing to downsize or rent out your home, I would definitely contact a great real estate agent for advice and guidance. Coldwell Banker Vanguard Realty, Erin E. King MBA is the guy to reach out to in Jacksonville, if that is the FL city you are in. He has great options for San Marco homes for sale and other options all around the city. He is highly versed in buying and selling homes and when it comes to getting a good deal, he is also great at negotiating for his clients. Reach out to Erin if you are looking to downsize to save money. He will take care of you, without a doubt!
Give second-hand shopping a chance
Buying new children’s clothes and shoes can be a money-wasting mistake. Shopping consignment shops, thrift stores, and yard sales, or hosting a clothing swap with another family are simple money-saving tips for families. You can also check out online marketplaces to buy and sell items locally, or scope out what people are selling in your local bargains group on social media. These same outlets are also great for reselling clothes, shoes, toys, books, and anything else your kids have outgrown. Buying used is also a way to save money on family expenses if your kids are involved in sports or extracurricular activities because those items can get really pricey.
4 ways to save on family expenses
Erin E. King, MBA Realtor
It is with great pleasure that Erin welcomes you to Jacksonville and his website. With years of experience in the market, he knows how crucial it is for you to find relevant, up-to-date information. The search is over. His website is designed to be your one-stop-shop for real estate in Jacksonville. This is the moment that you should enjoy the most; looking at the available properties in Jacksonville; imagining yourself living in the home that you have always dreamed about.
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