The unofficial start to summer is here. Gas prices are soaring. Food costs are too high. And budgets are feeling the effects of inflation. It’s time to review the finances. It’s time to write down all expenses. It’s time to cut back on some unnecessary spending. Learn how to reduce debt, and raise a family on a budget.
The number one way to buy summer groceries and raise a family on a budget is to try and stay out of the stores as much as possible. Research indicates that the American family spends about 15 percent of its monthly income on groceries and other food-related expenses. That’s a lot of money. And that’s a lot of time spent in a store. And the more time spent in a store, the greater the temptation is to buy.
The number one way to save on gas is to park the car and stay home. It helps to cut back on all unnecessary travel. And consolidate trips and errands as much as possible.
If you absolutely must go into a store, go prepared. Know ahead of time what you are going to buy. Have a list. Buy generic. And stick to the list.
Take a moment to look in your cupboards, pantry, refrigerator, and freezer. What do you see? Cereal, canned goods, meats, vegetables, eggs, cheese, drinks, ice cream, potatoes, cookies, candy, breads, fish, pizza, and chips. Try to plan a meal/menu with the food you already have available.
Raising a family can be expensive. But only if you are making expensive choices. Remember to distinguish between wants and needs. And distinguish between what is essential and what is an extra. Prioritize.
Many parents raising a family have saved money by borrowing, trading, making use of hand-me-downs, shopping garage sales, using cloth diapers, and living without a cradle. Try cooking convenient and inexpensive meals at home instead of going out to eat. Even baby’s food can be blended, creamed, or put into a food processor.
Try to watch for sales. Shop sales. Use coupons. And only buy what you need. Make it a habit to shop thrift stores. When traveling, buy the least expensive gas possible. Have a gas budget. When that gas budget is spent, park the car and stay home.
The high cost of everything is affecting everyone. You are not alone. Now is the time to plan ahead for your summer expenses. Balance your checkbooks and stay in control of what you spend. Reduce wasteful expenses. And live within your budget. Now is the time to resolve any financial problems. Save for the future. Focus on your financial goals. And plan for your dreams. See how it feels to experience true financial freedom.
