8 Money-Saving Tips for Large Families
This post was contributed to Leisure Freak by freelance content writer Charlotte Wyatt.
Having a large family means constantly working on your spending discipline and finding different ways to save more money. After all, there is no such thing as a never-ending supply of money, and taking care of a large family can get quite expensive. However, even with everything you have to handle financially, there are ways to save extra money. In this article, we’ll let you in on eight money-saving tips for large families that will make your everyday lives that much easier.
Surprisingly simple money-saving tips for large families
Many people dream of having a large family, but most of them end up quitting this idea due to financial concerns. After all, it’s not a secret that taking care of a big family can be very expensive.
But even with all of that in mind, we often see many large families making it work with smiles on their faces. So, we did our research and found money-saving tips that might make you decide not to give up on your dream of having a large family.
#1 Set a budget and stick to it
The bigger the family, the more important it is to focus on determining your budget. Make sure to write down what money is coming in as well as what money is going out. Even the smallest expense should be on your list as it will help you understand your spending habits. More importantly, it will help you see if there is any more room to save.
By creating a budget, you’ll be doing yourself, as well as your entire family, a huge favor. There’s no better way to save money than rationally and strategically deciding how to spend it.
#2 Live simply
Most people think that having more kids means needing extra space and more things. But many large families do quite the opposite – they downsize their belongings and live a simpler life. This helps them save money and still live comfortably.
Thus, you don’t need to wait to downsize after retirement. Your kids can learn to share rooms, and even if you don’t have a backyard, we’re sure there’ll be great parks in the neighborhood. Your holidays will still be magical without spending too much on decor, and your kids will still feel happy and loved.
Living simpler will surely help you save money. But, more importantly, it will help you teach your children the value of togetherness over material things.
#3 Save while shopping
Shopping for a large family is very different from your regular weekly visit to the grocery store. In fact, it usually requires thorough planning and detailed considerations.
Here are just some of the ways large families save money while shopping:
- Many large families buy in bulk.
- Shopping online allows you to stay organized and curb impulse buying.
- Visiting thrift shops is a great way to find cheap treasures your entire family will love.
- Research coupon and promotion websites and take advantage of good offers.
#4 Don’t run away from hand-me-downs
Hand-me-downs are not something that’s reserved only for large families. Even in families with two kids, hand-me-downs are entirely common. We completely understand if you want all of your kids to have their own things, but just remember how expensive kids’ clothes can be and how fast they outgrow them, and you’ll realize you can spend that money on something more valuable.
If you want to save even more, consider sharing with other families. This way, you’ll not only save your money, but you’ll also help another family save theirs, too.
#5 Dine-in and prepare meals
Taking a large family out to eat is not just an expensive experience, but it can also be quite stressful and frustrating, especially if younger kids are involved. And even if you choose more affordable restaurants, the bill quickly adds up.
This doesn’t mean you can’t make your home dining experience fun and meaningful. For instance, you can have a “make your own pizza” night and watch a family movie together after. You’ll still have a great meal, but you’ll also spend quality time together, and your kids will learn new skills.
#6 Look for free activities
Every kid wants to participate in different activities, join classes, try sports, and similar. However, these things cost money, and these expenses are much bigger when a large family is in question.
Luckily, there are ways to save money by doing a little research. You may find that your town or city is hosting free events for kids, or perhaps the school district offers different classes at reduced rates. You can never know until you start digging and asking around.
#7 Teach your kids to place a higher value on experiences than on things
Take a moment and think about your childhood. We are almost sure that you most remember fun family trips, movie nights, and even family dinners that were enriched with some silly anecdote. We’re also sure that you probably don’t remember most toys you begged for and quickly lost interest in them.
Your kids will likely remember the same things. They’ll cherish precious family moments and always happily reminisce about the quality time you’ve spent together. Sure, there will always be a toy or a gift with a special meaning to them, but we guarantee that, for most people, experiences are much more memorable and meaningful than any material thing. The best part about them is that they’re mostly free!
#8 Remember – there’s always room to save more
Lastly, always keep in mind that no matter the situation, there are always ways to save more money. The trick is in thinking outside the box and looking for creative alternatives for otherwise expensive solutions. And trust us, if you put your mind to it, you’ll be able to get a lot of things done more or less free of charge.
For instance, let’s say you and your family are moving. Sure there are costs that are unavoidable but saving money when moving is not impossible. A good way to cut costs during the process is by asking family and friends to help you instead of hiring movers or using things you already have at home, such as blankets as moving supplies.
On top of everything we’ve listed, there are plenty more money-saving tips for large families you can test. Always have in mind that every family is unique and specific in its way. Therefore, it’s always good to think outside the box and come up with creative ways to boost your family’s budget. If you put enough effort, soon you might even be able to start thinking about ways to fund your early retirement.
Much thanks to Charlotte Wyatt for sharing these timely money savings tips when squeezing some discounts out of daily life has never been more needed.
Charlotte Wyatt is a single mom living with her two kids in Washington D.C. She is working as a freelance content writer which gives her flexibility to spend a lot of quality time with her kids. Being that she’s supporting her family on her own, she learned many money-saving tips and she’s always happy to share them in her articles.