Frugal Living Tips for Families on a Budget

Frugal Living Tips for Families on a Budget
Frugal Living Tips for Families on a Budget

The cost of living continues to rise. The cost of raising a child to age 18 has increased to $243,660 – and we only expect this figure to swell. No wonder your bank account is always wiped out at the end of the month.

Sadly, you can’t stop to spend. But yes, you can do something so that you always have some extra money left in the pocket at month end. Here are 7 tips to get you started.

  1. Be a friend of the local library

You probably like books and movies but know well how expensive it can be to keep buying the latest releases. Why not befriend your local library where you can find most of these for free?

  1. Plan your meals

It’s not bad to pop in at McDonald’s once in a while but you can save big if you can prepare most of your meals at home. If you plan all the family meals, you won’t find yourself in a situation where you don’t know what’s for dinner. You might also want to try preparing your entire week’s meals on Sunday and freezing them so you’re only cooking one day a week.

  1. Try automatic bill payments

Automatic payments not only eliminate the need for a stamp, they are fast and… yes automatic. Whatever you owe your creditors will automatically be withdrawn from your account and paid to them so you don’t have to worry about accumulating debts. If you decide to pay your bills directly, consider completing most of the transactions online.

  1. You don’t always have to drive

If you are not going far, you may as well walk or bike. In addition to saving money on fuel, you’ll also be exercising! It will also save you on fuel if you group your errands so you only go out when you actually need to.

  1. Pick up any freebies

Major stores are never short of freebies. If they are bringing in new items, there is bound to be a few free samples. Start looking online for free offers and your mailbox will soon be bursting with valuable goodies! Check out freebie websites like canadianfreestuff.com

  1. Instead of disposable, buy reusable

Have you realized how expensive it can be to repeatedly buy the same items? For example, you use paper towels, which cost about $1 per roll. But how long do they last? Within a few weeks, you have to buy a new roll. If you invest in a reasonably priced pack of washable towels instead, you can save big money.

  1. Buy second-hand

New is shiny, but the truth is that second-hand goods are sometimes worth a shot. You can find anything from clothing, furniture, cars, electronics and other big ticket items at affordable prices at garage sales or in thrift stores. You can also get quality used items on Kijiji or Craigslist for less than half the price of a new one.

Need a personal loan to help make your budget work this month? Call us today at 1-855-367-9191 and we’d be glad to help get your finances on track.