Young families can often feel financially strained. With all the kid’s clothes, nappies, and childcare costs, it can seem like you never have a spare penny for yourself. There is plenty of financial assistance out there, so you should absolutely make sure you are taking advantage of everything you are entitled to – see this guide for starters. But if you are having a hard time financially as a young family, you can use these money saving tricks to make your cash go further.
Set a Monthly Budget
Instead of avoiding looking at your bank account and taking it day by day, take back control of your finances by setting a budget each month to see you through. Write a list of everything you will spend money on that month, from energy bills to food and make sure you have enough to cover all costs. By doing this, you will be less likely to go over what you should spend, as you will have a clear idea of how much you have left over for luxuries.
Enjoy Free Trips Out
Yes – you can save money while entertaining your child. Instead of a weekly trip to the cinema or another expensive outing, why not look around for free days out? Even a family trip to the library can be enough to entertain your kid for an hour or two (and then some more with their borrowed books).
Outdoor play areas are also a free way to play with your kid – you could even take a trip further out to find a park you have never visited for a little more excitement. Saving money with kids does not have to be difficult!
Buy Presents Throughout the Year
Birthdays and Christmas can be a nightmare for parents struggling financially. To avoid the dreaded run up to them, try to buy small presents throughout the year. Keep them in a box (that they cannot reach) and fill it throughout the year, and by the time it comes to giving presents, you will already have a mini haul to get you started.
Shop Second-Hand
New does not always mean better, and you can find a great range of baby clothes, nursery furniture, and gadgets for a low price when you shop second hand. Use online marketplaces, online shops, and charity shops to browse for items you need without breaking the bank. Plus, you can make some extra cash by selling your kid’s clothes once they have grown out of them.
Search for Online Coupons
There are plenty of discounts to be found online, so look around for coupons to save cash. You could also use discount browser extensions like Honey to scan your basket at checkout and search for the best deals possible. It might only save you a couple of quid at a time, but over the months, you will save a lot of cash.
Meal Planning
Meal planning will save you a lot of hassle and money. Instead of choosing what to eat every single day, take some time at the beginning of the week to plan out all your meals. Then, write a weekly shopping list so that you know exactly how much you will spend. Doing this will ensure you do not go over budget whilst allowing you and your family to enjoy hearty, full meals each day.
Being a new family comes with its challenges, but by following these tricks, you can at least stay on top of your finances.
