Emerging families have a lot of worries and expenses. Monthly bills can take their toll of a paycheck as can school supplies, children’s clothing, auto repairs, and the ever needful diapers. Not to mention the sizable food costs that a family of just three can run up.
Because of these and other necessary costs, a small and growing family will need to budget their finances wisely. Crafting and creating a budget will be the first and foremost step for a growing family to reach stability with their finances.
The topic of how to create and maintain a proper budget has been covered and thoroughly explained in other posts on the Check City blog. These budgeting posts can be found by searching for ‘How to Budget’ on the Check City blog or by clicking here.
Even with a functioning budget, however, a growing family may want to take additional steps to save money from month to month. For those growing families who wish to save more money every month, consider the following few suggestions on how to save on common expenses.
By practicing smart consuming, an emerging family can save a few more dollars on everyday items than they typically would. And by saving a few extra dollars here and there, a family can reach financial stability earlier, even amidst the fiscal pressures of a developing family.
Food Costs – In case the average consumer has not noticed or has not been informed, the average cost of food for American families, including growing families, has steadily increased over the recent years. Economic and agricultural issues have attributed to this consistent rise in food costs.
The price of food stuffs is obviously subject to additional change in the future. However, whether this change will be a decrease in costs or an increase in costs is only something that can be projected short term.
The uncertainty in the food industry is therefore something that developing families and individuals across the nation should be taking into consideration while planning their monthly budget. Notwithstanding, One of the necessary priorities of a family’s monthly budget is the cost of food.
Food costs are and should be an integral part of any family’s budget and should be given priority over most other expenses. To help a family in determining what food expenses should be expected from month to month, the United States Department of Agriculture has published a monthly report on the average food costs that a family can expect to pay in order to provide their family members with balanced and nutritional meals.
In this monthly report, called the Cost of Food at Home at Four Levels, the USDA provides average food costs of four differing amounts of available budgets ranging from thrifty to liberal food costs. For a family of four persons, for example, the USDA finds that it will take an average of around $500 a month to provide quality and healthy meals under the restraints of a thrifty budget.
With this in mind, a family can see the importance of not overspending on food costs. Avoid high food costs by shopping wisely and looking for discounted food items and those things that can be purchased in bulk. Using small payday loan from Check City may also be one way that a family can get in the black enough to maintain a stable food budget.
Therefore, first way to save a few extra dollars every month (or maybe every week depending on the size and appetite of your family) is to create sufficient meal plans and stick to them when purchasing groceries. As discussed, food costs around the nation have seen significant increases over the past decade and look to continue their upward trend.
By planning and preparing for every meal before heading to the store, an emerging family can ensure that they only buy those food items they need to make the meals they desire. A family can consider planning these meals around the sales that are occurring at the local grocery store.
By shopping for food and planning meals according to the discounted food items at the store, a family can ensure that the cheapest meals are being planned and purchased. The practice of using coupons and sales to plan meals will result in a family saving even more money on food costs.
Utility Bills – Besides the family’s food costs, the monthly utility bill is the most costly expenditure that developing families face on a consistent basis. But utility bills and the use of energy affect more than just home owners; they also affect those individuals and growing families that rent a home or apartment.
Because of this additional monthly cost of utilities, there is an increasing need by people in all types of living situations, but by emerging families in particular, to save money every month by limiting their utility bills. By decreasing this expenditure, a family or an individual can save potentially hundreds of dollars per year.
The most direct and simple way to cut utility bill costs is by using less of those utilities than a family normally would. For example, by turning the air conditioning up in the summer and the heater down in the winter, a family will be able to save hundreds on the electrical bills every year.
But for some, this practice of regulating the thermostat still isn’t enough to save them the cash they want. And for others, the prospect of not having their room temperature at a specific degree of comfort is out of the question.
Luckily there are other ways in which to save on utilities that have nothing to do with the temperature in the home. Simple conservation efforts can be taken elsewhere in the home that will likewise provide a home with the utility saving practices that are desired.
Some of these practices include switching off appliances whine not in use, turning off the water while brushing one’s teeth, and making sure that the lights in unused rooms are switched off. Saving a little energy every day by practicing these habits will add up over time to save a family a significant amount of money on utility bills.
For those who wish to save even more money and be more cost effective in their utility spending, consider hiring an energy company professional to perform an energy audit on your home. An energy audit will find ways specific to your home that will not only save energy but make energy use in the home more effective thereby reducing overall usage without losing the benefits of energy consumption.
Auto Repairs – Driving in the winter is fundamentally different that driving in the summer or on dry roads and, unfortunately, there are a plenitude of individuals who do not know how to safely manage their vehicles during the winter months. Cars skid across lanes of traffic or veer too wide on turns as their speed and momentum hit slick asphalt causing minor auto accidents seemingly daily even after winter has ended.
Fixing these minor or even more significant accidents brought on by icy roads and poor drivers can cost a family hundreds of dollars. Auto repair is typically an expense that most young families are hesitant to pay due to the fact that it will severely impact their budget.
And in some cases, because other needs such as paying the electric bill or buying diapers for the baby takes precedence to fixing the car, necessary repairs to a vehicle can be put off. Do not let this happen to you.
Instead of letting dangerous conditions exist on your vehicle due to a lack of funds to repair it, consider using a payday loan from Check City to help pay for the repair cost. Payday loans from Check City are a small and safe loan offered by Check City that will give a family the small boost to funds that they need to make ends meet should an auto accident tip the budget.
A payday loan, as stated above, is a small to medium size loan that is typically due at the time of your next payday. This form of loan enables extra funds to be available to the family without incurring excessive interest payments as the entire loan can be paid off at your next payday.
Using a payday loan from Check City can keep you and your family in the black when unexpected auto repairs tips the scales on the monthly budget. Once the repairs have been made, the budget can be renewed and the loan paid off with the next paycheck.
Using Networks – Networking with other families in your similar situation can also help to mitigate the costs of a young family. Family friends can help each other by setting up a support system that will save money by trading for services such as babysitting, lawn care, carpooling to and from school, etc.
Smart Shopping – Lastly, a
young family can save more money annually by putting extra thought into all of their major purchases. Some expensive items, like a personal home computer or laptop, will be needed by the family for numerous reasons but this does not mean that the family should consign themselves to the associated high costs. A little extra research into the quality and various prices of such needed but expensive items will ensure the family is getting the most for their dollar.
By being wiser with food costs, the home’s utilities, unexpected costs like an auto repair, and using family connections, friends, and other resources, a young and growing family will be able to save money month to month and reach financial stability sooner.