Struggling to save money for your family? Combine some of these simple saving tips to take charge of your finances now.
Organize your grocery shopping
Have you ever found that your grocery bill is much higher when you bring your kids along with you? Maybe it seems like no big deal to allow one small treat, but impulse purchases in these situations always add up.
While not everyone will be able to do the shopping solo, you can still be organized regarding what you’re going to spend your money on at the supermarket. Always create and bring along a list of items you need to purchase, whether you write them down on a piece of paper or use an app to keep track of this.
At the very least, set a maximum budget to avoid overspending.
Lease instead of buying
If you’re eager to save money, leasing a car rather than buying one can be a smart option. According to intelligentcarleasing.com, monthly lease payments are typically much lower than loan repayments on purchased vehicles.
Intelligent Car Leasing provides UK car leasing and contract hire deals to personal customers, and includes full manufacturer’s warranty, breakdown recovery, and road tax. You can also drive a new car every few years without worrying about depreciation or loss of value.
Participate in rewards programs
It’s easy to forgo rewards programs, thinking they won’t make a big difference. Likewise, of the people who do sign up, many forget to utilize their memberships altogether.
Make sure you not only participate wherever possible but keep track of all your points. There are benefits, savings and freebies to be gained simply from buying everyday necessities. Who doesn’t love being rewarded for that?
Buy thrift shop or discount clothing
Thrift shopping is an easy way to save money on clothes. Why pay $40 for the same shirt everyone else is wearing right now when you can get something unique for $5?
If second hand isn’t your style, take a look at discount department stores. These places always have great staple clothing items for everyone in the family, and for a third of the price! You’ll be surprised at the variety, and realize just how much you’ve been overspending on clothes in the past.
Buy when everyone else is selling
This may be a popular saying regarding investing, but it’s great advice for other things in life.
When is the best time to buy winter clothing? When winter is almost over. The same applies for all seasons, really. This is the time for stocking up on everything that goes on clearance. You’ll find items you almost bought two months ago are now half the cost!
Shop with cash or debit cards
With the swipe of a card and a few digits entered, spending money is easier than ever. Luckily, your choice of card can limit how much you actually spend. With credit cards, you can make purchases up to the credit limit, regardless of if you already have the money. However, with debit cards, you’re only spending what’s in your bank account.
Shopping with cash that you are physically handing over is also a psychological trick that will help prevent overspending.