The more we have to scrimp and save, the more inventive we become! At MyFamilyClub we’ve spoken to 300 parents and asked them to share their best money saving tips and also added a few extras. So if your own inventiveness has dried up, borrow some of the ideas below to make your family budget go that little bit further.
1. Shop around
Use meal planners to plan the family’s weekly meals so you don't end up throwing away food that’s past its use by date.
Use money saving websites (MyFamilyClub… hint hint), comparison sites like uSwitch and forums to find the best price before you buy. There are real deals to be had if you look around, from buying holidays to insurance.
2. Budget, budget, budget
Assess your income and expenditure and create a budget. That way you’ll be less likely to spend more than you can afford and more likely to stay within your means.
3. One man’s trash is another man’s treasure
Save money – or make money – by buying and selling second-hand on auction sites like eBay and in charity shops, and take advantage of hand me downs that are often as good as new. Remember to save the packaging from new items to give you better second-hand resale value.
4. Before you buy…
Always ask yourself, “Can I live without it? Do I really need it?” Don’t waste money on things you don't need and can easily do without.
5. Food glorious food
Use meal planners to plan the family’s weekly meals so you don't end up throwing away food that’s past its use by date. And always cook more than you need so you can freeze a few portions for another day. Plus try reusing leftovers the next night in a new dish. If you’re inventive, the kids will never know.
6. Trolley dash
Do your grocery shop online so you’re less tempted to buy more than you need. If you have to shop in store, draw up a list before you get there and don’t deviate. If you can, leave the children at home, so you don’t end up with more in your trolley than you bargained for! Also, consider a trip to the supermarket just before it closes, and you could save heaps buying reduced items including due date food.
Consider buying value brands for some items, from school uniform to nappies and wipes, you’ll save money and you’ll never notice the difference.
7. Buy in bulk
Stock up on offers, deals and bargains of items you use regularly. If you have a baby or toddler, take advantage of the special baby events at supermarkets where they heavily discount bulk buys on items like nappies and wipes; you’ll be sure to save money!
8. Never pay full price
Before you buy, always look for a relevant voucher or discount code online, and use cashback sites too. And don’t forget to cut out coupons from magazines and newspapers they can be quite generous.
9. Name drop
Consider buying value brands for some items, from school uniform to nappies and wipes, you’ll save money and you’ll never notice the difference.
10. Savvy Saver
Open a savings account and pay into it as regularly as you can. If you don’t have any spare cash try saving your weekly family allowance or child benefit. A little saved week by week will mount up in no time.
11. Credit Crunch
Try not to use credit cards. If you do have to, then make sure you pay them off as quickly as possible to avoid costly interest.
12. Know your worth
Keep a close eye on your finances so you’re in control of your funds. This way you’ll be less likely to incur bank charges. Use internet and telephone banking for quick and convenient ways to check your account status.
13. Life lessons
Teach your children the value of money by making them work for pocket money, doing household chores for example. Teach them how to save money, and also learn to say no sometimes – it’s a valuable life lesson for them.
14. 999
Set aside funds for an emergency situation, whether it’s for a leaking pipe or busted boiler, it’s always helpful to have something in reserve so you don’t have to rely on costly credit arrangements.
15. Forget the Joneses
Don’t feel under pressure to have what other people do. And teach your children not to worry about peer pressure either, so they don’t feel the need to have all the latest gadgets and brands.
16. Buyer Beware!
Don’t buy too many expensive toys for your children, especially ones that won't last. Instead, let them use their imagination, it’s free.
17. Get more from your loyalty
Use supermarket vouchers and loyalty points against family days out instead of against your shopping. You get up to four times the value.
18. Ruffle a few feathers
Keep chickens they can lay up to 320 eggs a year – which is around one box of eggs a week.
19. Supply and demand
Contact your broadband/TV/energy/insurance suppliers and tell them you’re thinking of leaving, they’re likely to offer you a better deal. And check your energy and utility bills and request any overpayments.
20. Use local services
Make the most of free and subsidised public services like libraries, parks and leisure centres. With library services under threat from Government cutbacks, there’s never been a better time to go there. With some children reading more than 100 books a year, this could save you a small fortune over their lifetime.
21. Double-glaze for less
Properly double-glazing your home can cost thousands, but there is a cheap alternative that can create a DIY double-glazing effect by trapping in hot air. Ask for ‘stretch wrap’ at your local hardware store and use a hairdryer to fix to the window. Six square meters of Stormguard Secondary Glazing Film is £7.99 at B&Q.
Take a trip to the supermarket when many items are being reduced – usually at the end of the day.
22. Check out the reduced aisle
Take a trip to the supermarket when many items are being reduced – usually at the end of the day. Grab what you can and stick it in the freezer for another time.
23. Childcare vouchers
Find out if you’re entitled to childcare vouchers. You could save £1,000s in tax a year. Valid for children up to the age of 15 they can make a huge difference as it enables you to pay for childcare out of your pre-tax and National Insurance income.
24. Turn old mobiles into cash
With mobile phones quickly going out of date, you probably have a couple lying in the back of your cupboard gathering dust. You could be sitting on a £100 for a smartphone, and all you have to do it send it off in the post. You’ll receive a nice little reward in return.
25. DIY
Costly call out charges and household repairs can be a right faff to sort out. By taking an inexpensive DIY course at your local college you could improve your skills and save £100s.
26. Ditch the public transport
Can you get off a stop earlier, or walk the whole way to work? If it’s costing you more money than it’s worth in public transport costs than it could save you a lovely £50 a month with a healthy switch to your routine.
27. Chim chim-ney
Save up to £153 a year by blocking up your fireplace. An unblocked draughty fireplace can be causing you to pay over the odds for your heating bill - but you can easily block draughts by getting a cheap, removable inflatable chimney balloon. Alternatively - if you still plan on regularly lighting a fire - consider getting a removable Heatsaver shield to block chimney draughts.
28. Lift sharing
If you work with colleagues who live in your neighbourhood, it seems silly to all be spending money on petrol and car costs when you could share a lift. You could work out a system and swap lifts throughout the week; you will soon notice a difference to your fuel bill. Do the same for the school run.
29. Make homemade cleaning products
Save on pricey cleaning products by using natural products you already have at home. Lemon juice and vinegar are fantastic and can be used to clean your home pretty much from top to bottom.
30. Grow your own vegetables
Imagine if instead of a trip to the supermarket, you could just wander down to the bottom of the garden for your vegetables. You can get your green fingers out, harvest a selection of your fav veg and have some fun in the process.
31. Save greeting cards
Last year’s gift cards and Christmas cards can be reused as gift tags. That cute robin on your card from Great Aunty Joan can be recycled for next year. Far more unique (and savvy) than just buying lots of new gift tags every year.
32. Refill your ink cartridges
With the kids printing out reams from your home printer, buying new printer cartridges every time you run out is annoyingly expensive. Refill your cartridges instead and you could save yourself around 70% on the cost of a brand new one.
33. Home-made beauty products
We all wish we could grab some time at the spa, but (sigh) we often don’t have the money to treat ourselves. But what if we could get glowing skin without the price tag? The secret is right under your nose – and possibly in your fridge. Eggs, yogurt, fruit, oatmeal, spices and salt are inexpensive household items that could transform your skin for less.
34. Clothes swapping party
That dress you’ve hardly worn, those shoes that are too high for you, all those old baby clothes... don’t just throw them away! Swap them at a clothes swapping party and you could come back with a whole new wardrobe. Try Googling 'swishing' to find a clothes swap party near you.
35. Library films or music
Libraries aren’t just for books – pop along to your local library and see what films you can hire out for free. There is often a wide selection to choose from and you don’t have to give it back the next day. Plenty of music CDs on offer too.
36. Make your own baby food
When babies move on to solids it can be a big strain to factor in those little jars. Making your own in bulk and freezing in ice cube trays can save you time and money.
37. Free cinema previews
A family trip to the movies is a costly affair these days, especially when you think about popcorn and treats too. Cinema previews are a perfect way to cut the cost or using a free trial at home such as LOVEFiLM.
38. Cashback
Getting paid to shop? Surely not! But when you sign up to a cashback website like Topcashback.co.uk you can do just that. That means that with certain purchases you can get money back.
39. Fuel costs
It might sound silly, but you can actually save dosh with the smallest change to the way you drive – for example reversing into, rather than out of a parking space. You’ll burn up to 30 times more fuel reversing when the engine is cool, than when warm. If you’re parking up 10 times a week that could be around an £8 a month saving.
It’s almost always cheaper to shop local – fruit such as a pack of strawberries can be £1 on the market and £2-£3 at the supermarket.
40. Shop at the local market
It’s almost always cheaper to shop local – fruit such as a pack of strawberries can be £1 on the market and £2-£3 at the supermarket.
41. Toy-swap
Toys become tired all too quickly and little ones end up bored. Set up a toy-swap with friends and neighbours and you can share around the fun.
42. Turn off your TV
A TV left on standby can use around 90% of the same energy as a switched on TV. Turn off at the mains to save on electricity costs.
43. Hair cut at a college
Head to your local hairdressers or hair college to get cheap cuts from trainees. They will be supervised and you’ll get a big discount.
44. Get your news online
Do you really need to buy a newspaper everyday? Get your daily fix by looking online or download the goss using an app on your phone.
45. Find the best petrol prices
Petrol prices can be a nightmare and vary greatly station to station. Check out petrolprices.com before you fill up to get the best deal near you.
46. Split delivery costs
Share out the cost of delivery for your food shopping by coordinating your grocery shop with your friend or neighbour. Charges can be £8 a time so you could save over £100 a year.
47. Get a family railcard and book in advance
If you travel by public transport you can save a third on adult and 60% on kids’ rail fares, for just for £28 a year. That’s on every train journey you take as a family so the savings will be going straight in your pocket.
48. Start a babysitting circle
Paying out for a babysitter is often the downside attached to heading out for a lovely evening with your partner. Friends will be in the same position as you, so why not start a babysitting circle? You can take it in turns to babysit and you’ll get a night out for free.
Looking for something? Try freecycle before you try eBay and you might just get it for free.
49. Freecycle
Looking for something? Try freecycle before you try eBay and you might just get it for free. Many people advertise their unwanted second hand treasures for free collection. Well worth a look.
50. Don’t throw away your batteries
One third of batteries thrown away may still have up to 67% of usable power left inside, but some power hungry devices like your digital camera will pack up before it’s all gone. Use them in less demanding devices like your alarm clock or TV remote instead.
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