Having a large family can result in needing a large budget but living a frugal lifestyle can benefit the whole family. Planning a budget and finances with more people can seem more expensive but if you make the right financial decisions, you’ll have better peace of mind managing a budget for families of all sizes.
The first thing to consider in living a frugal lifestyle always starts with a budget and it is essential to budget well. One of the first budgets to consider is your grocery budget as these expenses are the most prominent in any family that can lead to a big budget. The best practice is to shop around to get the most out of your money that can include shopping at discounts or bulk stores.
Another expense to consider is saving money on clothes as kids can quickly grow out of sizes with more kids equating to more clothes. You can easily save money wearing used clothes or cycling through hand-me-downs that will reduce your budget for clothes.
Try to shop around for discount clothing options to find the prices that best fit your budget with discount stores such as Marshall’s or T.J. Maxx that carry sizes for all ages with great prices. If you’re crafty, another option is to sew and alter your own clothes that will save a ton of money while doing a fun project you can teach your kids. Sewing is also a great skill to have to ensure you can mend your clothing for longer use that can be repaired if needed.
The next big finance to cover bills with a couple of ways to save that you may not have considered before. The biggest way to save on bills is never paying them late which can become more expensive with additional fees. A big bill you can tackle is switching phone services that can save you more money especially when you have more accounts than the normal household.
Home maintenance can also be a big budget item that can be costly depending on who is doing the service needed. Try shopping around various companies for whatever home project you need to be done that will be the best for your budget and if hiring someone is too costly, maybe consider having the family contribute to a DIY project.
One major DIY home project that can save you money is starting your own garden, growing your own food that is a fun family activity and will help you save on your next trip to the grocery store. This project can provide your family with some of the freshest food while teaching your kids about gardening.
You can cut back on finances for entertainment by considering low-cost or free alternatives. Instead of going out to the movies you can host a movie night at home or go out to enjoy some free live entertainment in your local community. This can also be applied to travel that can be costly, but you can still enjoy traveling by opting for a road trip that will involve more quality time with the family and cut costs compared to other forms of travel.
The last tip is getting anything you can for free such as loyalty or rewards programs with your local shops. Though the best things in life might not come for free, use your imagination and see what you can do to make the most of your money.
