The more your family grows, the more bills you will encounter. There are several ways you as a family can save…all of which teach your kids valuable money lessons. In fact, some of these tips also teach how to live “greener.” Include your kids on saving now, so they will grow up appreciating the concept of a budget, living within their means and getting creative with their money. Remember the family that saves together, enjoys greater wealth together. Below are a few suggestions to help you start saving as a family:
- Do not underestimate the power of leftovers. While some people view leftovers as boring, a little creativity is all you need to create whole meals. This can ease the strain on your food budget. For example, if you have leftover chicken from the night before, mix it up by adding it to pasta the next night. Or, if you have spare tomatoes, add those to some canned ones to make a great topping for pizza. Ask your kids to help with ideas for fun.
- Shop your pantry first. Before you head out to the grocery store, check out what you have in your pantry and fridge. Then plan your meals around what you already have, so it’s less to buy at the store. You can get your kids to help and to suggest what meals they would like to have that week.
- Take advantage of coupons. Pick up a Sunday newspaper and play a game with your kids. Ask them to find coupons for items they like. Then designate a drawer in your house where you and your kids can place those coupons for future shopping trips.
- Consider “bundling” your services. Ask your phone and/or cable provider about bundling your cable, phone and internet service. By housing all your services together, you save in the long run. And if your kids are of cell-phone age, be sure to inquire about a family plan for greater savings.
- Ditch your land line. If you get good cell phone coverage at home, you may not need your costly traditional phone line. Most kids use their cell phones anyway when chatting or texting friends. Make sure your kids use their cell phones during free or unlimited call hours.
- Plant a vegetable garden. Not only will this save you money, your kids will be more enthused about eating their veggies if they are able to grow them, and then pick them from their own yard.
- Host a blackout! Choose one day a month to have a blackout. Think of it as “no electricity day” in your home. Camp in the living room or pitch a tent in the backyard. In lieu of lights, use candles, flashlights or sun or moon jars. Try to refrain from using your appliances for one whole day.
- Plan a toy exchange. Have everyone bring a toy that their tot has outgrown or grown tired of to your next playgroup get together. After all, someone’s “trash” is someone else’s treasure… especially in the land of children. Kids will revel in their “new” toy, and you’ll delight in the fact that it didn’t cost you a thing!
- Chart out your family’s savings. Develop a chart with each member of your family’s name on it. Use different colored markers for each person. Across the top of the chart, list the months of the year. Choose a day of the month that everyone is required to record their savings. If there’s a substantial amount of savings at the end of the month (after bills are paid), decide how much money to put aside for either a family event or vacation. This helps kids visualize their goals and rewards.
- Plan a movie night in or take the kids to the library. Instead of spending money on movie tickets, plan a movie night at home. It’s much cheaper to rent a movie for a family of four than to purchase four individual movie tickets. And when it comes to reading, check out the library. Buying books can be expensive. By bringing your kids to the library, they can leave with an armful of books at no cost to you!
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