Raising a family is difficult enough without having to worry about money challenges. Today I share the money saving tips that our large family uses to relieve the pressures.

 

We are a fairly frugal family. In part, because, for many years we have relied solely on one income for our day to day expenses. My husband has been the primary bread-winner for our family. Any additional money that I am able to bring in, through designing homes or other various small business ideas, has always gone toward debt payment. Or, applied to any ‘extras’ that we are saving up for, such as Christmas gifts.

This financial set-up has allowed us a lot of flexibility. I have been able to be a stay at home/ work from home mom for over twelve years now. It has also meant that we need to be very careful with how each dollar is spent. We are big believers in the importance of following a budget, which I will discuss a bit later in this post.

First though, I want to share with you some of the most effective money saving tips that our family uses, to live on one income comfortably.

 

 

CUT THE CORDS

Technology really seems to be king, and they know it! They like to lure you in with introductory prices, and then increase your rates once you have gotten comfortable. Advertisements from technology companies leave you feeling that you need their products, when in reality you may not.

Cable tv

One of the first large sacrifices that we decided to make was to eliminate cable tv. We found that, out of the two hundred plus channels offered with our cable package, we watched only a handful. Instead, we switched to Netflix, which is just a fraction of the monthly cost. An added bonus is that there is a huge variety of kid programming, which allows our children to access their favorites whenever they want, and without the need for a dvr.

The blog Young House Love wrote a wonderful article about how they cut their cable tv. They tried out a variety of alternate options and compared them. If you are considering making the switch away from cable tv, I highly recommend you read this post.

Phone

We also cut our phone cord. It seemed to us that most of the calls we were getting on our home phone were coming from telemarketers or people who dialed the wrong number. Switching to a ‘home’ cell phone was our solution. When people ask us for our home phone number, we give them the number of that cell phone and nobody is the wiser.

This setup will be even more useful when our oldest son begins driving or attending activities away from home. We can simply hand him this dedicated cell phone to use, instead of getting him his own plan.

 

EAT AT HOME

Eating out is ridiculously expensive. Once the tip is added in, a sit down restaurant meal for our family can easily top one hundred dollars. Considering a weeks worth of groceries for our family of seven is just slightly over one hundred and twenty five dollars each week, eating out doesn’t make any sense at all. One of my long term goals for Arrow Hill Cottage is to grow a large portion of our own food, and learn how to preserve fruits and veggies through canning.

Meal planning

We have been following meal plans for a couple of years now. I started out with a four week rotation, then added a couple extra weeks into the mix, for variety. I have plans to feature my favorite recipes on the blog, complete with a video tutorial of each meal, so be watching for that!

 

Pack lunches

School lunch is another area where a lot of money can be saved. At our kid’s school, a meal is just shy of three dollars. Multiply that times five kids, and just one week of meals can run up a seventy-five dollar bill! Because of this, I am sure to pack lunches for our kids a majority of the time.

The rule at our house is that each child is allowed to pick their two favorite meals each week, to eat from the cafeteria. The remaining meals are brought from home, and the kids have a hand in picking out what goes into the lunch boxes. We also tell them to bring home whatever portion of their cold lunch isn’t finished at school, so that they can use that food as an after school snack. Less food waste means money money in our pockets!

 

BUY SECONDHAND

There is a thrill in buying a brand new item, sure. But, generally speaking, you aren’t likely to be getting the best value for your money by making this type of purchase all the time. In fact, one of the best money saving tips that I can offer is to buy items secondhand whenever it is feasible.

Vehicles you can afford

Surely you already know that new vehicles go down in value as soon as they leave the sales lot. And, besides your home, the vehicles you purchase for your family might be one of the largest purchases you will ever make. Because of this, it is very important to find a good deal.

Buying used can sometimes have a stigma; But I highly doubt that many people could spot a used, four year old vehicle over one that is brand new, just by looking at it.

Shop used items

Shopping at second hand stores for household items, clothing, and toys can also save a lot of money.

I firmly believe that second hand stores have really upped their game in recent years. Generally, they do a good job of screening broken, stained or blemished items. Those that make it to the store shelves have a lot of life left in them.

You can find some real treasures, and save a bundle!

 

DO IT YOURSELF

You can save your family a lot of money by learning to do things by yourself, instead of calling somebody to do the job for you. With online access, tutorials for just about everything can be found. From small car repairs to craft projects, a video reference is likely available.

Even basic daily chores, done yourself, can save you money. Simple tasks that we personally take on ourselves include mowing our own grass and washing our vehicles by hand, instead of going through the car wash. I also learned how to cut hair, which saves us at least $80 per month.

 

 

VACATION NEAR HOME

Family vacations, though wonderful for creating memories, can really put a dent in your pocket book. Instead of spending a ton on airfare, lodging, and restaurants, consider vacationing closer to home.

For example, we live in Minnesota’s lake country but personally do not live on a lake. Our kids are just as thrilled to stay the weekend at a local lake cabin as they would be to travel to Disneyland. Being able to play on the beach and put our toes in the sand is a change of pace for all of us, even if the location to home is close.

 

ELIMINATE THE EXTRAS

If you are looking for a place to start for a quick money saving win, this is it. An extra is anything that you use to treat yourself on a regular basis, or something that you don’t use often but like to have available.

Though they aren’t typically large expenses, put together they tend to add up. For example, that morning coffee that costs close to five dollars at the posh coffee shop, could be replaced for a much more budget friendly home brewed cup.

Memberships

Memberships can be particularly luring because they offer up a convenience factor. Consider if you make it to the gym often enough to justify the monthly price you are paying, or if you could stay fit by working out at home.

Do you need the weekly food prep service delivered to your door, or would an effective meal plan do the trick?

Entertainment

Many people don’t think about the free forms of entertainment that are available. The library not only loans out books, but music cds and movies as well. Consider borrowing something for free every once in a while, instead of always rushing to the theater each time a new film comes on the big screen.

Take in the public park in lieu of paying an entrance fee to an amusement park or museum.

 

RESEARCH SPLURGES

There will definitely come a time when you will be purchasing big ticket items such as a new television, furniture piece, or appliance. These purchases should not be taken lightly, as they should be considered as an investment item.

Talk with friends who have recently purchased similar items and ask their opinions and recommendations. Do a bit of online research with company such as Consumer Reports.

It is also important to note that certain items do tend to go on sale certain times of the year. Find out when the sales happen, and save yourself some money!

 

JUST SAY NO

This might not be a popular tip to discuss, but it is very important. Saying no to ourselves seems to be particularly difficult, as it makes us feel as if we are denying ourselves of something we deserve. In reality though, by making a foolish purchase you could be denying yourself financial stability.

Don’t use credit

It is as simple as that. It is just too easy to buy something on credit with the intention to pay it off. And maybe most of the time you are able to do that. But what happens if there is an unexpected event that prevents you from doing so. The interest rates are going to bite you, and make you wish you had never made the purchase in the first place.

Don’t let yourself get into that type of situation. When you use the money that you actually have to buy what you need, you can feel confident that it won’t break you.

Stay out of stores

With almost one hundred percent certainty, I can predict that if you walk into a store to ‘just window shop’ , you will walk out of it with something you didn’t actually need. I know this is true, because it happens to me all the time!

When we had our month long No Spend Challenge, our eyes were opened to this phenomenon. By simply staying out of the stores entirely, we saved quite a bit of cash.

 

To kids

Sometimes saying ‘no’ also means saying no to our kids. Whether it is them asking for another toy, or wanting to sign up for an event, remember that it is your money that you are using. All the final decisions of where it goes will rest on your shoulders.

Likewise, don’t feel as though you need to sign your child up for expensive activities just to keep them busy or give them a chance to meet friends. If they aren’t that into it, it’s okay to skip.

For example, our oldest son was involved in soccer as a third and fourth grader. By the summer of his fifth grade year he was eligible for the traveling team. The cost of this program was two hundred and fifty dollars, and would require that nearly every weekend of the summer would be spent on the road in attendance of a game. We asked him if he loved soccer enough, to make that large of a commitment (both in time and money). He told us no. Kids are smart.

 

 

USE A BUDGET

If you get nothing else from this list of tips, please hear this. Budgeting is so, so important. Sure, it isn’t the most fun thing to do in the world, but it will make a world of difference.

We have used a budget for well over ten years, and I honestly don’t think it would be possible for me to go without one at this point. It is so helpful to not only see how much money we have to work with each month, but also to track our spending as the days go by. If we find ourselves overspending in one category month after month, we can re-evaluate the situation and determine if we have been foolish, or if that category needs to be beefed up.

Personally, I love the Everydollar budgeting software and app, which are both free! There are plenty of other popular and well respected options though, such as YNAB (You Need a Budget) and Mint. Check them each out, and determine which is a good fit for your family.

 

MONEY SAVING TIPS VIDEO

Listen to me discuss our families most successful money saving tips.

 

SAVE THESE TIPS

If you are looking for ways to cut everyday costs, and boost your savings, be sure to pin these money saving tips!