Peoples Bank Blog

5 Easy Money-Saving Tips for Families on a Budget

Posted by Peoples Bank on Sep 10, 2018 9:00:00 AM
Peoples Bank
Find me on:

5 Easy Money-Saving Tips for Families on a Budget

As a parent, you know better than anyone that every dollar counts. Money trees don't exist, but the cost of raising children is enough to make you wish that you had a dozen. Whether you have a small family or a large clan, making even the smallest adjustments can result in huge payoffs in the long run.

Check out these five quick tips for helping your family save money without making a major lifestyle overhaul!

Need help building a budget? Download our free Monthly Budgeting Sheet!

Cost-Efficient Eats

When it comes to food, budgeting is absolutely essential. Falling to temptation, whether it be spontaneous purchases or a quick trip to McDonald's, can be all-too-easy. Taking the time to make a complete and budget-based grocery shopping list is the first step to making sure that you get everything you need in one trip without overspending.

Take the list with you, stick to it, and pay with cash to keep yourself within the bounds you set for yourself. Shopping without kids and curbside pickup are two other ways to avoid spontaneous purchases while wandering those aisles. Make sure to check out couponing apps like SnipSnap or Checkout 51 to save an extra few bucks at the register!

Once you've made it home and the groceries are put away, making a plan for how to use them is a great way to add structure to your family's eating habits. Spending a little extra time to plan out breakfast, lunch, dinner, and snacks for a week at a time is a tried and true way to keep cash in your wallet and unhealthy habits at bay.

Second Hand Stuff

While brand new goods are great, buying used is the perfect way to get essentially the same thing at a fraction of the cost. Toys, clothes, books, and sports/music equipment can all make quite the dent in your bank account if bought brand new.

Thankfully, there are tons of places to get the same quality for cheaper prices including thrift stores, consignment shops, yard sales, and Facebook resale groups. Take the time and do the research. You might be surprised what you can find! Fun tip: Facebook groups can also be a great way to get rid of your own unused items!

Frugal Fun

Contrary to popular belief, extravagance is not a requirement for having a fun and memorable time with the family. There are a number of affordable and family-friendly activities that are just as (if not, more) fun than a pricey vacation or expensive in-town outing.

This year, skip the trip to the movies or the day at the amusement park and opt for a backyard campout, a fun staycation, or a memorable movie and game night at home. Museums, parks, and historical sites are other fun ways to get the whole family out of the house without draining your wallet!

Bash on a Budget

If your holiday season is more of a burden than a ball, you're not alone. The obligation that comes with the most wonderful time of the year is enough to overwhelm many people, making the need for budgeting and planning greater than ever. Thankfully, there are a few simple ways to take the weight off your shoulders, the first being timing.

Related Post: Holiday Budgeting Tips for The Last Minute Shopper

Instead of waiting till the end of the year to start your shopping, plan it throughout the year and around different holidays that double as good times for sales, such as Memorial Day or Labor Day. This will allow you to enjoy your holiday as intended and prevent an overwhelming recovery in January.

Healthy, Happy Habits

Saving energy saves money and that's a task that everyone can pitch in on. Encouraging smart habits in the whole family (and nagging them to stick to them 😉) can play a huge role in long-term savings.

Turning off lights, timing showers, taking baths, and being smart about thermostat usage are all easy ways to start. After a while, these things will become habitual, thus turning your home into an efficiency machine and saving you those hard-earned dollars.

Teaching your kids the ways of frugal living is also an excellent opportunity to teach them lessons in spending and saving money. Starting early is imperative to healthy lifelong habits!

Saving money while raising a family doesn't have to be difficult. By budgeting, planning, and following these five simple steps, you can help your household save money AND have fun without undergoing a massive lifestyle overhaul! For more tips and information on convenient banking and savings needs, contact or visit your local Peoples Bank branch today!

New Call-to-action

Topics: Helpful Tips