Let’s be honest, money can be a very scary thing for us parents. Between buying groceries, activities, paying bills, and everything else, it all adds up. We have to constantly be on top of it all, especially since we want to do everything for our kids.
Sometimes being frugal can be an uphill battle!
Thankfully, there are some smart ways you can save money that both maximizes doing what we love to do and saving ahead for those unexpected emergency days. You can even be a wonderful example to your children on how to handle their own finances later in their life.
Check out these 10 genius parents can save money!
1. Create a Budget
Creating a budget is the first and most important step to getting your money in order. When you are creating a budget consider what are your necessities first and possible emergency funding you’ll need. Then you can use the money left over for the things you enjoy doing. Be sure to designate a percentage if your leftover for savings.
2. Keep Those Clothes
Our young kids grow fast, which means it perfectly makes sense to not constantly buy new clothing for the younger ones. Keep those hand-me-downs for your younger children or consider swapping clothes with family and friends that are still in good condition.
3. Shop Yard Sales
Yard sales are a great place to buy bikes or toys for the kids. It’s the best place to find toys since the kids might only play with a new toy for a couple of months. Buying items secondhand can save you some good cash. Just avoid buying car seats and cribs at yard sales if you don’t fully know the condition of these items.
4. Skip the Coffee Shop
We all know coffee is a necessity, especially for us parents to get through the day! If you are a dedicated coffee drinker this can be hard. You might love your local Starbucks or coffee shop, but you can save big time by making your own caffeinated drink at home.
5. Pack Lunches
Homemade lunches can save you a lot of money on a weekly basis instead of eating out every day or your kids buying cafeteria food. It’s also a lot healthier too!
6. Drop the Unnecessary Things
There are a lot of little things we enjoy having but can be expensive or quickly add up. Cable can be expensive, but do you really use it enough? What about those manicures you get twice a month? Maybe you can cut back to just one or none. Consider all the things you don’t really “need” in your life and get rid of them.
7. Set Aside Some of Your Income for Savings
Taking a portion of your monthly income or paycheck and putting it directly into a savings account the moment you get paid can really pay off. Even if it’s only under $100. You might even be able to set up a percentage of your pay to transfer automatically over to your savings if you have a direct deposit from your work.
8. Forget the Name Brands
We all have our favorite name brands, but usually the generic is the save quality. Turn over to name generic brands and you will save more.
9. Hit That Unsubscribe Button
Receiving all of those promotional emails in your inbox can really make you want to shop. To avoid overspending on things you don’t truly need, unsubscribe from those mail listings. You don’t want to make yourself anymore tempted to spend money than you need to.
10. Buy Items in Bulk
Buying in bulk can sometimes be the trick to saving money. It can be cheaper in the long run. If you decide to buy in bulk make, especially food items like produce, make sure they don’t spoil.