Living off a single income as a family of 6 has been very challenging at times. In the beginning we had to quickly make drastic changes to our lifestyle in order to support our family. In my opinion, it has been totally worth it and I’m so grateful I’ve been able to spend these past 7 years at home raising my kids.
Just like Tesco, every little helps, so here’s 5 ways to save money every month.
1. Have a weekly budget, not a monthly
Setting yourself weekly goals keeps the small budget more attainable. When you’re working with small figures you can easily blow your months budget on entertainment within the first week. Breaking down your expenses week by week keeps you more focused and helps make your budget go further.
2. Don’t buy clothes
It’s so easy to buy clothes as a reward, or a monthly treat, but only buy when your clothes have holes and are falling off your body. I’ve recently been able to buy some new clothes. I waited till after Christmas when I knew prices would be at their lowest. I bought things that I didn’t have and really needed like jumpers for winter. I would have loved to have added in a new pair of boots, a hat and a new scarf, but those were all wants and not needs. Avoiding going into town altogether is one of the safest ways to not impulse buy and also unsubscribe from all those store emails. They will only entice you to look at all their gorgeous items on sale giving you that impulse to spend!
3. Always take a bottle of water & coffee when you leave the house
Don’t buy water in town. You’ll save a fortune by not having to go into that cafe just to get water and then come out with three muffins and juice boxes for the kids, two bottles of water, and a latte and chocolate croissant for mummy. We’ve all done it, so just try avoiding having a reason to go in at all.
4. Set a weekend family spending budget
Ours is currently £30 and that’s for all six of us. But with that we can all go swimming, or for a walk and buy hot chocolates at the cafe. We can also go to a soft play or a Saturday morning juniors movie for £1.
5. Meet friends at their home or in a park
If you meet them in town you will end up in that cafe eating croissants, drinking coffee and shoving biscuits and muffins into your kids faces so that you can have a decent chat. Meet at home for coffee or take a picnic to the park to eliminate unnecessary spending (and overdosing your kids with sugar!).
Why not set yourself the challenge of going a whole month without spending money on anything but food, petrol and bills. You’ll suddenly realise how often you buy things from a store. The bargain necklace, those cute shoes from TJ Maxx, the new lipstick from boots and that cute little outfit for baby at Tesco. Remember that saving now means being able to spend later. Having a goal to work towards like paying off all your debt by a certain month, or buying a new car or sofa etc. can be great motivation to keep you focused.
What other ways do you save money? Share your tips in the comments and if you’ve found this helpful then why not share it!