Saving Money as a Family

[Shaf]

Saving money is hard, but it becomes harder when you have a family especially one that is growing.

From my experience, babies are probably the members of the family with the highest relative monetary needs, yet they contribute nothing. Other children, spouses, parents and siblings will also affect your spending and saving pattern.
Even if you have to take care of the needs of everyone, you should still save some money for rainy days.

One of the ways of doing this is by focusing on food and grocery costs. These are things you can not do without, but there are ways to still eat good while saving costs.

You should also encourage every member of the family to save, even children. This is make them develop this habit before they become adults, and you can have to worry less about them in the future.

One thing that costs a lot of money is birthdays. If you have to plan for three or more birthdays each year, that is a lot of money. You can find creative ways to make these events cheap yet still fun.

 

[Yusra3]

Saving money as a family can be tricky, but it doesn't have to be. With a little planning and effort, you and your family can start saving money today.

Here are some ideas for saving money as a family:

1. Set up an automatic transfer from your checking account to your savings account every month. This will ensure that you're never surprised by an unexpected charge or overdraft fee.

2. Keep track of all your expenses with a spreadsheet or app, so that you can easily see where money goes and where it could go more efficiently.

3. Don't forget about the small things! You might not think they matter much, but they do add up over time. For example, small changes like using cloth napkins instead of paper plates can save you hundreds each year!

Even though saving doesn't have to be difficult, it does take some effort on all parts of the family's part to get started and that's why we're here: so you can make it easier!

 

[Heartstrings]

Saving money as a family isn't easy at all but one can still manage to save if at all there is a plan in place. Truly babies has more needs, ranging from Pampers,baby foods,clothes and other things, reason why it is good to put a plan in place long before a child comes,why because I have seen some people who Save's money for their child basic needs and education right before their birth.

Personally I don't celebrate birthdays but I definitely know it cost alot huge of money, infact some people save money for birthdays but I don't. Those who celebrate birthdays can actually do it in a fun and easy way,to cut cost. Celebrating birthdays doesn't necessarily means you have to spend all your earning or savings for them. If you really want to save,a small family gathering would be okay in order to save some money, because the thing is the more you spend on what you could have been able to cut cost on, the more your chances of saving decreases.

 

[isaac01]

You are right, if you are looking for a way to save money, I don't suggest you save it on banks because inflation will make your money devalue, you have to look for other ways to save your money.