Looking for how to save money while raising a family? Every little cost can add up, but there are lots of things that you can do to budget for a family. Here are 8 of the best budget tips for families, including #4 that saves me hundreds every year!
This post may contain affiliate links. Please read my disclosure for more info.
Budgeting Tips For Families
It can cost a lot of money to do things when you have a family. Every little cost can add up, but there are things that you can to in order to save money. The following are 8 of the BEST budget tips for families, to keep more money in your bank account!
- How to Explain Money to a Child: Best Ways Kids Will Actually Understand
- Dates on a Budget – Best Cheap Date Ideas You’ll Actually Want to Try
1. Eat at “Kids Eat Free” Places or Days
But sometimes you want to go out to a restaurant for a treat (or so you don’t have to wash the dishes!)
A family can cost a LOT of money to go out to eat. There are different places that have days where kids eat free with an adult purchase. Sometimes, they offer significant discounts instead.
This budget tip for families can save you a lot of money when you eat out in restaurants:
Look to see what the restaurants by you offer such specials, and choose a restaurant based on where you can get a free meal or two.
Because children’s meals can add up, this can end up saving you a lot of money.
If you do not have a place like this, you might just want to search around for restaurants that are cheaper. Many times, you can find smaller family-owned businesses that have food that is just as good or even better than the chains but offer you a better deal.
Related post: How to save money on gas
2. Budget Tips for Families to Save Money on Insurance
Insurance is one of those boring adult expenses that nobody likes to spend money on.
But life insurance is SO important especially when you have a family. One of the best budget tips for families is to save money on insurance because insurance is essential AND it is a recurring expense.
This reputable insurance company offers super affordable insurance, and you get your quote and everything online (no medical exam or anything).
Check it out here to see how low monthly your monthly insurance could be. It might be well worth a switch.
3. Reduce Your Expenses Automatically
Trim is a personal finance app that is like a tiny Dave Ramsey fairy looking at your expenses, finding ways to reduce them, and saving you money.
It’s pretty magical.
In less Dave-Ramsey-flying terms, Trim is like a virtual assistant for your finances. Trim analyzes your spending, and saves its users $620 on average! What could you do with an extra $620?
This budgeting app negotiates cable, internet, phone, and medical bills, cancels old subscriptions, and more.
4. Budget Tips for Families that Want Cash Back on Purchases
Have you ever heard of a cash-back site? They have been around for years and you can save a lot of money if you use them.
How it works is you go through their site whenever you go to purchase things online, and you get a percentage of your purchase as cash put back into your account.
Rakuten is my favorite cash-back site. It has been around for years (it used to be called ebates), is a reputable company, and they have paid out over a billion dollars to their 12 million users.
If you buy clothing for your family online, or electronics, or makeup, or travel, or household goods this budgeting tip for families can save you a significant amount of money. They have all the usual stores you’d shop at online: Walmart, Target, Best Buy, Sephora, etc. etc.
You can even use Rakuten for in-store purchases now too if you’re like my mom and prefer shopping in physical stores for the full shopping experience. 🙂 (I prefer the online shopping experience!)
Use this link to sign up and you’ll get a free cash bonus just for signing up!
5. Budget Tips for Families about Investing
Invest your spare change on autopilot.
One of the ways to make saving money easier is to automate it. This is one of the best overall budgeting tips for families.
If you have to consciously think about putting aside money to save or invest it, you won’t do it as often, which means less moolah for you over time.
Acorns is a simple app that rounds up your spare change from purchases, and invests it for you. It makes saving money super easy and painless because it takes away the remembering factor.
6. Shop at Discount Stores
There are many stores that offer much cheaper prices than other stores. In addition to discount stores such as Target, you can find deals at warehouse clubs such as Costco.
You can buy items in bulk there, which make it cheaper per serving or per item.
And this is a fantastic tip if you want to save money on prescription medicine or other pharmacy items: shop at the Costco pharmacy. Unlike in the rest of the store, you don’t need a Costco membership to buy pharmacy items and they are often the lowest prices you will find.
Related post: How to save money on electricity
7. Clip Coupons and Look for Sales
Sure, maybe you know this tip, but are you actually doing it regularly? As far as budget tips for families go, regularly buying things on sale or with coupons can save hundreds of dollars every year.
You can save a lot of money by clipping coupons and looking for different sales. Many stores regularly have sales that provide a big fraction off of their regular prices. They may have buy one get one free items. When you find a great sale, you may want to consider buying a little extra of it if you are sure you are going to use it. Hello toilet paper (but please don’t hoard it all)!
Also, many stores offer extremely cheap prices when they clearance an item out. This can be very good for holiday items. You can often save a lot of money if you buy certain holiday items that you know you will need such as Christmas Cards and then just save them until the next year. Many stores regularly go to 75% or more off.
Related post: Cheap Valentine’s Day Ideas for Couples
8. Buy on the Internet
Hey, you know the internet?
If there is a store you want to shop from online, many will give you 10% off or 15% off your first purchase if you sign up for their newsletter – do it! A couple minutes of your time is well worth saving that much money.
The Internet can be a wonderful source for inexpensive items. Many websites offer great deals, and some websites allow you to cost compare to make it easy to find the best deal. Also, when looking at websites, you should also look for coupon codes or discounts, which can save you a lot of money.
If you are going to shop online, make sure you sign up for Rakuten to get cash back on your purchases (otherwise you’re leaving money on the table).
Related reading: Personal Budgeting: 3 Powerful Tips to Get Control of Your Money