Every family is subject to its own financial struggles, It just seems to be a part of life. It’s the solution that can be troublesome to find! Saving money is one of those things that everyone’s got their own opinion about. For some, it feels like too much of an effort. For others, saving money is a way of life, even if it’s just for a few pennies. But how exactly can you tighten your belt for the sake of your whole family?
Saving Money, A Matter of Habit
Saving money in our day-to-day lives can be difficult. But one trick to make life easier is to know the sale cycles of your local supermarkets. Knowing when things go on sale during the year gives you a better idea of when you need to stock up on specific items. Many times the items which go on sale tend to follow seasonal and holiday patterns – Turkeys and hams near thanksgiving, BBQ related items in the summer.
There are many price watching sites you can sign up for to make it easier to keep an eye on these cycles. But when you know something is on sale, you can stockpile. Keeping a stockpile means that you won’t have to go and buy that item for a few months.
It can take a while to build up a decent stockpile in your home but it can pay off in the long term. Just remember to only buy items you will actually use. Stockpiling a bunch of pumpkin pie filling just because it was on sale won’t help you much if you never actually eat pumpkin pie!
Some people don’t like to buy second hand because they’ve been used by someone else. But, it’s possible to find items on sites like eBay that haven’t actually been used. If you are looking for an expensive item of clothing at a bargain price, it’s possible to find things with the tags still on them. Either the item didn’t fit, was received as a gift or the person just changed their mind and for whatever reason could not return it to the store. It might take a bit of searching but that can be part of the fun.
Exploring your local thrift stores can even be somewhat of an adventure! And, decorating your home with these found treasures is somewhat of a trend right now! Older wood furniture with chipped paint or weatherworn planters can give your house a charming country vibe for a low price tag.
Will A Loan Be Beneficial In The Long Run?
This is something to think about if you are constantly struggling with credit card debts, and your repayments slowly adding up. You can get help from a credit restoration company or you could get a long-term loan. Beware of short-term loans as the fees and interest on these are rarely beneficial. If you are looking for a way to reduce credit card debt, a long-term loan might be an option. It’s important that you do the math first.
Our family recently found this to be very helpful. Several years ago our air conditioning unit in the house broke. After suffering one miserable summer we knew it had to be replaced. We had no option but to finance this replacement and the payments/interest on this was terrible. We live in South Georgia and we had young children. Living in a house that got upwards of 90 Degrees in the summer just wasn’t an option.
This year we managed to get rid of that high interest/payment loan by trading it for a loan with lower interest charges. The length of repayment is still the same but because of the lower interest the monthly payments are lower and long-term savings are higher.
Do you need to change your Attitude Towards Money?
When it comes to spotting bargains or tightening your belt, your lifestyle is something that has to be addressed. If you are used to a certain way of life, you will spend with that lifestyle in mind, no matter what your current earnings are. This will come back to bite you in the end. It’s far better to fix your attitude towards money and learn to spend within your means, rather than rely on a revolving door of credit cards.
For the sake of your family, especially if you’ve got young children, you need to learn how to tighten your belt. Lots of people feel that this is sacrificing a lot, when in actual fact; it’s about instilling some good habits. It doesn’t mean your family has to suffer, there is plenty of ways to have fun on a budget and teaching your children how to be responsible with money means they will be in a better position when they go out on their own.