Tips on Saving the Family Money

Save some cash with these money saving ideas for families.
Save some cash with these money saving ideas for families. | Source

Money Saving Ideas for Families

Children are expensive to raise, but if you get a second job, you will not be able to spend time with your kids. Instead of trying to make more money, there are ways you can spend less money so that you can enjoy the comforts of life and have time to spend with your family.

Follow these ideas to save money at home so you have time to bond with your kids.

Live Frugally

Sometimes when we see our neighbors and friends get something new, we may want to get the same thing, or at least something new for ourselves as well. This effect is magnified as we see all the new items in the media.

We can save money by realizing that something new is not necessarily better. There are many times when the older item is actually a better item, and once the newness wears off, the item will not continue to please us and we will then want the next new thing.

By teaching our children to take care of their belongings and consider the long term value of them, they will learn to appreciate what they have instead of continually asking for every new gadget and style that comes along.

Thrifty Grocery Shopping

There are many ways that you can reduce your expenses when you go grocery shopping. By growing some of your own vegetables, using coupons, shopping for sales, stocking up on items when they are on sale, and limiting how often you eat out, you will be able to eat healthy foods and save money at the same time.

You can teach your children how to cook, know everything that is in each meal, and be there to talk to them while you are getting dinner ready.

Brothers playing in a park
Brothers playing in a park | Source

Saving Money on Clothing

Clothing is a big expense when you have children as they continually grow out of them. Here are some ideas to save money on clothing:

  • Consider buying used clothes. These clothes tend to be in good condition as children have not had a chance to wear them out before they grew out of them.
  • Buy clothes on sale. When you get them at the end of the seasons sales for the following year, you can save a great deal of money. Be sure to take into account the fact that your children will grow during the year.
  • Ask bigger kids for their hand-me-downs. You can develop a chain where the older kids hand down their clothes to the younger kids.
  • Don't worry about name brands. Your kids don't need clothes that are made to last since they will likely grow out of them quickly.

Save money on entertainment

There are many ways you can keep your kids from getting bored and yet save money. Here are some for starters:

Save money on utilities

Utilities can be a big expense when you have children. You can save money on your utilities such as electricity and gas by teaching your kids to turn off the lights when they leave a room, insulating your house and turning down the thermostat at night. You can also save water by installing low flow water saving device on your shower and faucets. There are many little ways you can save money on utilities which add up to big savings when you add them together.

Ideas to Save Money

Your family wants to spend time with you, and by reducing your costs, you will be able to spend less time at work, and more time with your spouse and children.

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Comments: "Tips on Saving the Family Money" 19 comments

Millionaire Tips profile image

Millionaire Tips 20 months ago from USA Author

Thank you for your comment Casman. The low flow water device is done in a way that makes it feel that there is plenty of pressure. You should try it; you probably won't miss the extra water. It just makes it slower to fill a pitcher.


sweetpikez profile image

sweetpikez 24 months ago

Dear millionairetips,

I really do believe that the best and first teachers of children are their parents.Good values are molded first hand in their respective home.

Saving is a good skill and attitude that must be learned at home.

Thanks for sharing this useful hub.

Best regards,

Sweetpikez


Kasman profile image

Kasman 24 months ago from Bartlett, Tennessee

Loved this hub, the low flow water device on showers would be a difficult thing for me to grasp as I love a lot of pressure when I shower. But when all is said and done, you're right about the savings in the long run. Thanks so much for the tips, which is you namesake. Well earned! Voting up and sharing.


Millionaire Tips profile image

Millionaire Tips 2 years ago from USA Author

Thanks kiddiecreations. Hand-me-downs, yard sales, and thrift stores are great places to get children's clothes, since they keep outgrowing them so quickly. We also like buying used work uniforms (scrubs) and school uniforms.


kiddiecreations profile image

kiddiecreations 2 years ago

Love it! I totally agree. My friends gave me some hand-me-down clothes for my son to wear, and he wears them all the time. I've also gotten outfits for him from Goodwill that are just fine for him. They aren't too worn, and the price is right -- it's usually about two dollars for a nice pair of pj's that he can wear over and over. I just make sure to wash the clothes first before he wears them.


Millionaire Tips profile image

Millionaire Tips 2 years ago from USA Author

Thanks KDeus. I think that no matter the income, people tend to want to live beyond their means, and need to use strategies to stay within, and even below, so they can save for emergencies and long term goals.


KDeus profile image

KDeus 2 years ago from Florida

These are some excellent suggestions for saving money! Even though my husband works for a major supermarket chain, I still grow my own vegetables - to save money and also prevent unnecessary pesticides. Years ago, due to some health problems, I left a very-good paying job essentially halving our income and we had to learn quickly how to adjust. Cutting satellite, cable, looking for new in the old, etc, so many ways to save and you wrote about some excellent ones! It can be challenging at first, but very well worth it when time spent with the kids is all they really want and need.


Millionaire Tips profile image

Millionaire Tips 3 years ago from USA Author

Rachel, Thrift stores do help keep things out of landfills and let us keep products in use longer. I hadn't heard of buying bundles of clothes from eBay. I guess I would wonder how much of it would fit, but for the right price, it's a great idea!


MeltedRachel profile image

MeltedRachel 3 years ago from United Kingdom

Love these tips - I buy secondhand clothes for my kid and we end up with some great stuff. I particularly like getting bundles of clothes from eBay - that way you get most of what you need at once and it's cheaper and takes less time than buying individual items.


Millionaire Tips profile image

Millionaire Tips 3 years ago from USA Author

Thank you joym7. Comparing yourself to other people does tend to get us in trouble, especially if we don't consider what they are sacrificing to get what they have.


joym7 profile image

joym7 3 years ago from United States

Doing comparison with other is a serious problem. Yes, coupons codes saves a lot of money. I also like your point "Saving Money on Clothing". Great Hub.


Millionaire Tips profile image

Millionaire Tips 3 years ago from USA Author

Thank you for your suggestion Tamara. There isn't a Big Lots close to me, so I wasn't aware that they sold quality grocery products. Good to know. I think that by shopping for sales, using coupons, buying only what you need based on the menu, and buying store brand products, it is possible to save money even at a regular grocery store. I have many friends who swear by the Aldis and Marcs.


tamarawilhite profile image

tamarawilhite 3 years ago from Fort Worth, Texas

In terms of discount groceries, instead of going to dented can stores or discount grocers known for items that will go bad tomorrow, try retailers like Big Lots. They have the grocery store inventory that didn't sell well, standard items like soda and Little Debby and even their own generic brands of staples like vegetables.


Millionaire Tips profile image

Millionaire Tips 3 years ago from USA Author

Thanks Tamara for the additional tip. Explaining to the children the rationale behind your choices will help them become good money managers as well.


tamarawilhite profile image

tamarawilhite 3 years ago from Fort Worth, Texas

Another tip: Don't feel guilty when you tell your children no. When they are older, explain why you make these choices. No to this expensive activity, so that you can save for the child's college. No to this splurges, so the family can save up for an emergency.


Millionaire Tips profile image

Millionaire Tips 3 years ago from USA Author

Thanks CZCZCZ. My daughter loved getting hand me down clothes that had been previously loved by her friends and siblings. When she needed scrubs for work, she went to the thrift store to get them. Saving money on these things does make more available to do things that are higher on the fun scale.

Thanks Tamara for these great additional suggestions. Setting priorities and saying no is a great way to save money. And when choosing just one thing to buy, it makes that one so much more special.

Thanks Kathy. You're right, the time you spend with the kids are going to be remembered so much more than all the things that have been bought. In fact, if fewer things are bought, those things will be remembered more too since they had to be used more often.


savingkathy profile image

savingkathy 3 years ago from Ontario, Canada

Great tips, MT! I love your focus on making do with less so that parents can spend more time with their kids. I'm pretty sure that when they grow up, they'll look back much more fondly on time they spent with their parents than the fact that they always had the latest and greatest of everything. (At least I hope this is true!)


tamarawilhite profile image

tamarawilhite 3 years ago from Fort Worth, Texas

Families need to learn how to tell their children "No". No, you cannot join every club with its attendant fees. You only get one or two. No, you don't get all of the books at the book fair, pick one, and we'll go to the library if you want to read more. No, you don't get to do all the extras at daycare that cost another $200 per month. No, you don't get all the great outfits - pick 2.


CZCZCZ profile image

CZCZCZ 3 years ago from Oregon

Excellent family money saving tips! I grew up with tons of hand me down clothes and toys since I had two older brothers. At the time it kind of was no fun to get all the left overs, but it was probably what helped us to be able to afford many other activities and things that made growing up fun.

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