How to Save Money with a Large Family

How to save money with a large family. All too often advice on how and ways to save money with a large family comes from someone not dealing with your current situation.

It is easy for me to say that you should stop taking vacations but if you haven’t been on one within the last five years, that advice does not help you at all.

Saving money even though you may have a large family, can be done, however instead of just thinking about it, you have to put and keep your plan in action.

Regardless of the economy, both men and women are in the workplace today.

Even if one spouse is working, mandatory overtime or longer business hours leave little time for family discussions.

Most parents choose not to involve their children in financial conversations but if you are giving your kids an allowance, they need to understand the value of money.

This does not suggest that you should reveal your checking account balance but seeing that nearly everything today cost $100.00, wasted money on do dads and purposeless toys needs to be addressed.

Although we do not like to say no, providing for your family is first about making sure that you keep a roof over your heads. It is not about you stressing out about materialistic matters.

Shoes are often grown out of before they actually wear out. Some parents buy 3 pairs of shoes a year and this does not include shoes for sports activities. Always buy shoes on sale.

Air Jordan’s sure do look good but they won’t enable you to jump higher. Pass down good shoes to your other kids.

You have probably already done this but an added point is to teach your children to take care of their shoes.

Clothing often is the main source of money loss in families with young adults. A decent baby outfit depending on where you live cost less than 10 bucks.

However, jeans for a young adult start in most cases at 40 bucks and continue upward from there.

Unless there is a big logo on the front of the jeans or shirts that you buy, no one knows that they are designer labels.

Others with the same clothes may know but as close as we all are in the world, how come you rarely see anyone wearing the exact same shirt that you have and your local sports team shirt does not count.

What are some ways to save money with a large family for college tuition?

It is sad but many parents do not encourage their children to get a college education because of fears of not having the money when the time comes.

Saving money over the course of 17 years using the tips that I have already talked about can easily pay for college when your child turns 17.

Colleges still do and will continue to offer scholarships. Sure, not everyone gets a scholarship but that should not deter you from encouraging your children to be smart enough to breeze through college and finish early.

People graduate from college early all of the time and the main reason why they choose to work harder is to avoid high tuition cost.

Save what ever you can if you can not set a specific goal for the amount of money that you want to save each month. Over saving can cause you to have to dip into your savings.

Some people open a separate savings account that requires face to face access but if you have trouble with not spending your saved money, I suggest a different approach.

One final suggestion on ways to save money with a large family is to if you can manage to save $10 or $100, convert it into pennies and never keep penny rollers in your home.

Why pennies and not quarters, because you would gladly give the cashier $3 worth of quarters but it is highly unlikely that the same cashier or any cashier, would be willing to accept 300 unrolled pennies. This way unless desperate measures call, you are forced to save money.



Twitter Digg Delicious Stumbleupon Facebook Email