As a parent, saving money can be difficult. 2020 has been a hard year, with many parents being made redundant or losing earnings due to lack of business. There’s nothing wrong with acknowledging that you’re in a time of financial difficulty and accepting help.
Making money go further might sound difficult, but it doesn’t have to be. It simply takes some perseverance, positivity and a few lifestyle changes. Here’s how to make money go further.
There’s nothing wrong with accepting financial help if you’re in a difficult situation. The state offers many different benefit schemes to help people when they’re unemployed and looking for work. Many people aren’t aware of the financial aids they might be able to apply for. Some veterans, for example, could be eligible for veteran’s disability benefits (check out this veterans disability calculator for more information). There’s no shame in accepting financial support, so find out what you might be eligible for and use the money wisely.
Meal planning can be long and arduous. But it helps. A lack of organization can lead to a loss of money. Food that could be eaten goes moldy in the fridge or you run out of groceries by the end of the week because you haven’t been strategic. So, start meal planning. This will prevent the temptation of getting an expensive takeout or going to a restaurant, too. You can push this even further by growing your own vegetables in your garden. Money doesn’t grow on trees, but the food you buy in the grocery store does.
It’s difficult to avoid driving, especially when you have a big family who all need dropping off at school. However, driving can be expensive – and when you’re trying to save, it can be an expense you don’t need. Parking, fuel and repairs can knock you when you’re already struggling. So, try to cut down. Walking where possible will increase your physical and mental health – or if it’s too far, public transport hardly costs a thing. Alternatively, try buying a second-hand bike and cycling to work. You could save a lot of time and money.
OK, so the idea of putting loose coins into a jar might not be too groundbreaking. You’re hardly going to buy a new car or pay for your child’s school fees with nickels. However, these jars can be great saving incentives, especially if you do them as a family. Your children will enjoy getting in on the action and helping to save. Instead of using the penny jar money for big things, you could use it for days out as a family or fun activities. It gives everyone a goal to save and helps money go further.