Saturday, September 10, 2016
Are you as good with money as you think? Advice on living the frugal life
Living frugally can be very challenging at times, particularly when your family starts growing. It’s a good idea to save money where you can, as this gives you money to use for unforeseen expenses or even just the occasional treat for the family. Living frugally and sensibly also instills great values in the kids for their futures.
Although travelling abroad for beach and city breaks is amazing, it isn’t always doable. There are still plenty of ways to holiday at a low cost though and keep the kids entertained too. Consider good old fashioned camping trips, renting a big cabin in the woods for the whole family, or even frugal but fun RV vacations. Keeping your yearly vacation relatively local means you can afford to splash out on a more special every other year or so.
Although moving house isn’t always at the forefront of our minds, it’s something worth just keeping in mind. The value of your home can be massively affected by the things you do, or don’t do, to it during the time you live there. If you have some extra money available for whatever reason, it might be wise to re-invest it in your assets. Making simple changes to your home over the years can greatly increase your home value for when you do come to sell it on.
Feeding a whole group of hungry mouths doesn’t have to come at a ridiculous cost. Ensure your entire family is eating a nutritional and balanced diet by being smart about what you buy and how you cook. Focus on plant-based meals by finding some simple vegan and vegetarian recipes. Poultry and red meat in particular can be very costly. By prioritising filling and cheap foods, such as wholegrain rice and chickpeas, you will find you spend less money on meat. Cooking large quantities in bulk and then freezing portions for a later date is a great way of getting value for your money. This avoids any unnecessary food waste.
By being smart about your savings, you can actually earn money over time from doing nothing! Choosing a bank account that allows you to earn interest is the ideal place to put any excess money. This way, you know it’s in a safe place and you are less likely to access and spend it if it’s tucked away somewhere. Websites like this can give useful advice on where to get started when saving.
Recycle, recycle, and recycle. Invest in staple items for your children and then, where you can, hold onto these pieces as your eldest grows out of them. Then, as the littler one grows up, he or she can wear these staple hand-me-downs. The children are unlikely to mind; they’re too busy running around having fun at this stage! When all of your kids outgrow their clothes, you could then try selling them on at car boot sales or eBay.
These are easy ways to save on spending that you can incorporate into your weekly routine.