How to tighten your budget without impacting upon family life 10



As a family, we’re always trying to save as much as we can. We can’t necessarily afford to put a great deal aside each month, but it’s always so reassuring to have a little bit put away for things like holidays, days out, and, of course, Christmas and Birthdays.

But, with the children growing up quicker than I ever thought possible, and things like university, moving out and, dare I say it, weddings, looming ever closer on the horizon, I’m trying to find ways in which we can cut back and save more.

How to tighten your budget without impacting upon family life

Of course, I don’t want to impact on our lifestyle too much, I still want my family to have a comfortable, fun, and enjoyable life, but there must be ways we can save, even if it’s just a little bit extra here and there.

So I’ve been looking out for tips and advice for saving, and here’s what I’ve found…

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Write it down

Writing down everything you spend will help you to identify areas that you are overspending in. It’s so easy to spend a couple of pounds here and a couple of pounds there, without even noticing. But, every penny adds up and, before you know it, you’ve managed to spend £10 or more.

By writing down your expenditure, it becomes very clear where you are spending unnecessarily. That coffee you buy every morning might only cost £2, but when it’s written down in front of you, it suddenly becomes very clear that you’re spending £10 a week, or £40 a month on coffee! Instead, why not take your own coffee to work and treat yourself to one coffee every week?

 

Bills, Bills, Bills

Unfortunately, bills are an inevitable part of adult life. But if you’re spending more than you need to on your phone bill, insurance, or utilities, that’s money that you could be saving.

So make a list of all your providers and how much you’re paying on a monthly or quarterly basis, then shop around and see if you can find a better deal. And it’s not just your household bills. If you have loans, credit cards, or other forms of finance, you are most likely paying interest. So, once again, write down everything you’re paying and see if you can find a better offer. This is also important as, if you are paying large amounts of interest and become unable to keep up with your monthly repayments, it may affect your credit rating (you can find more here).

Without having to sacrifice any of your luxuries or essentials, you’ve already made substantial savings!

Want or need?

There are many expenses that are part and parcel of everyday, family life. But there are other costs that, if we’re honest with ourselves, we can probably avoid. If your family regularly has a takeaway as a weekend treat, why not cook a nice meal together instead and put the money you would have spent on the takeaway into your savings account. You’ll be amazed at how quickly the money will add up and, what’s more, cooking together will be much more enjoyable and healthier too!

Take this thrifty approach to all areas of your life, is there a way you can enjoy your luxuries for less?

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10 thoughts on “How to tighten your budget without impacting upon family life

  • Sarah Ebner

    You’re so right about writing it down – when you see your outgoings there in black and white, it makes it all so real (and show how it all adds up).

  • Astrid

    These are great tips. I really need to start writign down my expenditure as I am chronically surprised by how much I’ve left at the end of each month (sometimes positively surprised but sometimes negatively).

  • Kara

    We have already cut back so much that there is nothing more to cut back on sadly. Hubby took a massive pay cut after being made redundant and frustratingly hasn’t had the promotion he was promised. I can’t work at the moment as all my money would go on childcare!

  • Kara

    We have already cut back so much that there is nothing more to cut back on sadly. Hubby took a massive pay cut after being made redundant and frustratingly hasn’t had the promotion he was promised. I can’t work at the moment as all my money would go on childcare!

  • Sonya Cisco

    You have reminded me I need to ring BT this morning – have noticed our bill seems to have crept up over £10 a month and need to figure out what they changed so I can bring it back down again! Must check our electricity again too, as has been a while since I did a comparison.

  • Charly Dove

    There are some really great tips here Jen especially the one about writing everything down. I know I spend too much in the shop round the corner, top up shopping is pricey! We could definitely take a leaf out of your book 🙂

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