Run The Money
Back in the day, lots of people had big families. Nowadays, raising children is so much more expensive that it causes people to limit the size of their family. Having a big family can cost big bucks. Food, clothes, housing, etc— the list is never-ending. You have to be creative with your budget and implement ways to save money. Check out these five tips that many big families use every day to save.
Live Within Your Means
Big houses cost big dollars. Instead of buying a large home for your large family, purchase a home that you all can make work. All of the children may not have their own room, but is that really a necessity? You simply need a house that will allow everyone to live comfortably. It will be frustrating at times, but you can make it work. The money you will save having a smaller home can be used for other necessary expenses.
Bargain Shopping For Discounted Prices
Buying food for a large family can break the bank. Try shopping at discount grocery stores like Aldi or Lidl if they’re in your area. Also, consider getting a membership at stores like Costco, Sam’s Club, or BJ’s. Shopping in bulk for a big family can help save money in the long run. If you still find yourself running into your local grocery stores, think about couponing. Clipping a few coupons every week can help you save a lot.
The most simple of outings can be costly when you have a big family. A movie ticket can cost close to $13 for one individual. Imagine buying movie tickets for the whole family. Add the snacks that they are going to beg you for and you’re looking at nearly $100, if not more. Instead of going to the movies, take the family to your local library. The library has lots of free and fun activities that won’t cost you a thing. You can also check out movies at the library.
We all know the saying, “one man’s trash is another man’s treasure.” Thrifting can be fun and inexpensive! Spend a Saturday morning going to various consignment shops and thrifting to see what gems you all can find. Purchasing new, brand-name clothing can be very expensive and often times not worth it. Children wear clothing out and outgrow items so quickly.
Continue Saving For Retirement
It can be hard to save for your retirement when you have so many other futures to prepare for. However, saving for retirement needs to be a priority. Saving for college could seem like the most important, but it is not. There are many options that can be available for your children if they decide to go to college. They can go to community college or get a scholarship. Or some may even decide that they don’t want to go to college at all. Regardless, you need to save so that when you’re older you will have the financial means to care for yourself. Otherwise, you might turn out to be a burden to your children.