Clever Hacks To Make Money Last Longer For Frugal Families

11:08 AM

Nearly 63 percent of American households rely on two incomes,  according to the data gathered by the 2018 US Bureau of Labor Statistics. But saving money while raising a family can still be difficult even with dual sources of income. Raising a child costs an average of $233,610 for a middle-income family, based on the US Department of Agriculture. Not included, however, is the savings used for education. As families grow, it can become more challenging to stay on track of their budget and household finances. Check out these budget-friendly hacks to build your family's savings and make it last longer. 

Look For Shopping Bonuses
Most department stores offer different rewards programs. However, not everyone knows how to avail these.  According to Business Insider, 42% of millennials are now starting to use these perks from their credit card companies. Some of the most popular rewards programs include high sign-up bonuses, point accumulation for special bonuses, and cash backs for each dollar spent. Use these to buy some of the essential items for the house. It can even bring the entire family to an out-of-the-country trip. You can inquire and sign up for the rewards system from your credit card service provider as soon as possible. 

Do Batch Cooking
To save both time and money, you can cook a big batch of your favorite recipes at once then divide it into multiple portions. You can consume one part right away and store the rest properly in the fridge. These can be reheated and eaten any time during the week, especially if you are too busy to whip up a new meal after a long day at work.  

Use Coupons
While it seems like your money will go down the drain whenever you do your grocery shopping, you can still save by doing this hack. First, you need to set a maximum budget for spending and stick to it during your trip. Then look for coupons from magazines, newsletters, and online sites. These coupons can slash off a huge percentage in the price. It also offers cashback or buy-one-get-one deals. You can then use the money that you will save with the help of these coupons for other expenses at home. 

Don't Shop While Stressed -
You must try to do your shopping early in the week. During these days, the stores are most likely least crowded. Shopping along with a huge crowd can be very stressful and cause you to slow down your shopping pace. If you will spend more time at the stores, you might be tempted to buy items that are not part of your shopping list. 
These are some of the simple steps that you can do to make money last longer for your family. It will help you manage your resources to get out of your financial crisis. Practice these regularly so you and your family will have enough funds for savings, trips, and stay on track of the important expenses at all times. 

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