This is a collaborative post.
Saving money is no easy task: almost everybody has opened their bank account statement with a sense of foreboding in their stomach, and then felt themselves want to sink through the floor at the numbers on the piece of paper in front of them. No matter how hard we try, life is expensive, especially if you have kids. Luckily, there are a few things you can do that will help you save money – here are some tips and ideas.
Pay Your Savings Account First
When you get paid, it can be very tempting to splash that cash immediately, whether it’s on that top that you’ve been eyeing up for a while or on a host of treats and goodies at the supermarket. But it’s important to make sure that when that money arrives in your account, you’re sensible with what you do with it. Pay your bills first, and then transfer a certain amount over into your savings account. Some people save ten percent of their income but this isn’t possible for everyone, so transfer what you can. Having this nest egg will be reassuring for you in the future – you never know what’s around the corner. Your car could break down and require new parts, your pet could get ill and need expensive treatment, your boiler could shudder to a halt and you might need to shell out for a brand new one. Having some savings will help offset these expenses.
Buy Pre-Owned Items
Remember that things don’t have to be brand new to be brilliant. In fact, it’s better for the world and more eco-friendly for you to buy second-hand items, especially for your kids, who are probably growing so quickly that they need new clothes and shoes remarkably quickly. Check out charity shops for items like books, clothes and toys, and look on websites like Ebay and Facebook for pre-owned furniture and other items. Just be careful with baby car seats – this may be one thing that you don’t want to get second hand as you don’t know what condition they may be in, and they can become less safe if the car they were in has been bumped into. For larger items like cars, it’s always a good idea to go for pre-owned. Cars depreciate hugely in value very quickly, so even if you buy a car that’s just a year old, you’ll be getting an excellent vehicle for a huge reduction. Popular cars like a used Range Rover are always around in dealerships and they will be thousands cheaper than if you buy them new.
Live Within Your Means
Finally, make sure that you live within your means. It’s great to have a break away with your kids, but if you’re trying to save, you don’t need to go into crippling debt because you fancy flying off to the Caribbean. More local trips are more inexpensive and just as much fun for the whole family. Spending more than you can afford to spend will lead to a lot of stress and future financial problems.
Although it can be difficult to save, these tips might help you out a little!