Maybe you’re contemplating becoming a stay-at-home parent and wondering if your family can survive on one income. Or perhaps, you’re looking to save up for a family vacation. No matter your motivation, we all want to save money. For this edition of Frugal Friday, I’m sharing my 7 favorite ways to cut back on monthly spending.
- Always Shop with a List – Never, ever shop without a list. This rule applies to everything, not just groceries. Without a list, you will tempted into impulse purchases.
- Meal Plan – Meal planning is the easiest way to save money. Food can be such a waste of money because without a plan, we tend to overbuy. You can read more about meal planning in contributor Meghan’s guide here.
- Eat Out Less – This goes hand-in-hand with meal planning. If you must go out, some easy ways to save are by drinking only water, skipping dessert, or going to restaurants where kids eat free.
- Cancel Cable – Quite a few of our contributors have done this, including myself. I can tell you first hand, we don’t miss it one bit. Cutting this huge expense from your budget provides your family with extra money for activities that don’t involve sitting in front of the TV.
- Cancel Your Gym Membership – This is another unnecessary monthly bill. There are many free ways to exercise, especially as the weather warms up. Take the kids for a walk, go for a bike ride, or have your girlfriends over for an at-home yoga session.
- Buy and Sell Gently Used Clothing – Clothing is such a huge expense. A lot can be saved when you sell your unwanted clothes and then use the money to purchase “new” gently used ones. You can view our favorite children’s resale shops here.
- Utilize Your Local Library – The library is a wonderful, sometimes forgotten resource. In addition to books, many local libraries have DVDs and video games for rent as well. There are also many free programs for kids and access to websites and apps that you would typically have to pay for.
Does your family have any unique tips or tricks for decreasing monthly spending?