Ways to keep your money – and sanity! – on track
Celebrity starlet Tori Spelling and husband Dean McDermott have announced they’re delighted to be expecting their 5th child. And as a pair who are no strangers to financial woes (despite their wealth and celebrity!), the addition to their already large family is sure to add increased strain to their family budget.
How many kids does your family have? Whether you’ve got enough to make strangers turn and count the little heads following you as you hit the supermarket, or have just one or two, it’s important to have a few money-saving tricks up your sleeve.
Here’s a 10 money-saving – and survival! – tips from large families
- Be organised! Create a weekly timetable of your kid’s activities and pop it on the fridge. Checking it each morning will help you stay on track of who needs their library bag, sports uniform or ballet shoes, and when!
- Avoid overspending on groceries by planning a weekly menu and buying your ingredients in bulk. Check out our tips for staying savvy in the supermarket.
- Stay on top of the family budget. If you’ve got a large family, often one parent becomes a stay-at-home carer – check out our 5 top tips for living on one income.
- Embrace hand-me-downs! One of the advantages of having a large family is that you certainly get your money’s worth out of things like clothes and toys.
- Be frugal. Every time you go to splurge on something, stop and think – do you really need it? For inspiration, see our post on making your money go further.
- Negotiate – on everything! Whether you’re buying the week’s fruit and vegies or facing an unexpected medical bill, ask for a discount. Most businesses are happy to recognise the financial hardship that many large families face and offer a reduced price.
- Teach your kids the value of a dollar. Make sure they pitch in and help out with household jobs. This is a great way to share the load while letting them earn – and hopefully save – a little pocket money of their own.
- Make time for yourself. Schedule a little ‘me time’ every day – whether it’s a quick walk around the block before the kids get up, or some time curled up with a book after they’ve gone to bed, be sure to get yourself a brief moment of time out each day.
- Make time for each other! Every now and then ask a friend or family member to babysit or grab some kid-free time with your partner. You don’t have to spend a fortune – check our tips for socialising on a budget.
- Count your blessings! Sure, you’ll have days where you feel exhausted (and broke!), but always remember to love and appreciate your beautiful little (or large!) family.