When you first get a job you feel like your wages last for ever but that’s because most of the time when we first get a job we still live at home and have no out goings and all we buy are new clothes and nights out. Then we move into our first home, be it rented or bought, and suddenly we feel like our money doesn’t stretch as far as we now have to consider bills that we never knew existed, food that we thought just appeared in the fridge each week , and a desire to maintain a social life. So when you are faced with starting a family and you realise that same wage, maybe a slight increase over the years but usually not to double what it was, now has to go round more people, more necessities and more food, you really do start to feel the pinch and your own wants, needs and social lives usually give way first. Every subsequent child after the first is dearly loved and very much wanted but also requires a portion of that financial pie so to speak and so money saving advice for parents has become a hot topic and I am here to share my top 3 tips with you.
Plan everything. Plan meals, snacks and drinks for the week and only buy what is on that list. Plan days out and order tickets in advance as they are usually cheaper and then pack a pic nic to save money on food. Plan birthday and Christmas gifts and buy multiples when on offer to save money and make sure you are prepared. Planning ahead can save you so much time and money.
2.) Recycle, reuse and resell
Never throw anything of any value away unless you are 100% sure you will never need it again. Unless you are absolutely positive you will never have another baby then save the expensive baby equipment, even if it means storing it in the attic or at a family members house if they have more room. These items are so expensive and so many people get rid and then regret it. It is much more cost effective to re use these items with baby number 2, 3, 4….if possible. If you are adamant there will be no more babies then try and sell the items of value if you can. This may take time but it is worth the effort and the extra time if you can cash in on the train collection and use that money towards the latest games console. Also look at recycling items, is there a way to turn old furniture into fancy new pieces or old clothes into dressing up outfits. Always stop, look and think before you throw things away as essentially you could be throwing money away.
3.) Shop around and use discount sites.
There are so many online alternatives to the high stores now and they are often competing with each other which is great for us as the consumer as it means there are some fantastic deals to be had. Sites like latestdeals are great especially when looking for electronic gifts for teenagers that feel the need to keep up with the latest trends and have the same as their mates. For example at the moment they have a range of headphones with various discounts available some as much as 66% off the retail price giving you a massive saving especially if you have more than one child. Sites like Latest deals also mean that the long forgotten self treat due to parent guilt can actually be reintroduced not only at a fraction of the cost but also a fraction of the attached guilt – double win!
These are my top three money saving tips for parents, what tips would you add?