Living in a large family is the ideal ‘sharing is caring’ situation, but having more members in your family can mean far more expenditure.
And you can’t apply the money-saving tips commonly used by small families to your home because big families come with their own unique set of expenses.
Photo: Andre Taissin / Unsplash
Thankfully, there are things you can do to keep your finances under control. Read on for a set of actionable money-saving tips that work well for large families:
Table of Contents
Consider the Wear and Tear Factor
Living in a big family means cooking more, using more pots, and serving more food. That’s why it’s crucial to find the best cookware set and invest in quality non-stick cookware.
Quality pots and pans will stand the test of time and make it much easier to cook big meals for your family. The best part about non-stick cookware, in particular, is that there’s no chance of food getting wasted by sticking to your pots and pans.
Buy Once and Use Twice
Most parents are naturally inclined to splurge on their first child. This isn’t a bad decision.
After all, it’s essential to prioritize quality over quantity because quality products are likely to last longer.
Plus, when you spend more on quality clothes and toys, you can simply pass these down to your next child and keep doing so for years to come check out craigslist free stuff.
Meal Plan for the Entire Week
The more carefully you plan your meals for the week, the more you will save in the long run.
Check out deals at your local grocery stores and buy wisely, keeping your meal plan in mind so you don’t take home anything you don’t need.
Don’t Underestimate the Value of Budgeting Properly
Living in a big family means you have to budget in a way where every specific expense is accounted for on paper. Generally, you have more people in your home, so there is a greater chance of running into accidents or having to fork out extra money for school events.
When you draw up a budget every month, make sure that you keep some reserve cash for later use.
This cash cushion can also be immediately should an unforeseen financial need arise or in the case of an emergency.
Become an Effective Cook
The more mouths you have to feed, the more expenses you’re bound to encounter.
Start by cutting down on the amount of meat you cook. Consider using roasted vegetables or beans as a filling for sandwiches, wraps, or tacos so that you don’t use too much meat.
Also, be smart with the meals you provide. For breakfast, a big pot of oats for everyone can work wonders. Stick to cooking meals the whole family enjoys, and you’ll save lots of time and money.
Save for the Holidays
Hotels are rarely an ideal option for larger families. You will save far more if you rent a self-catering apartment that sleeps many people for a standard rate.
You should also avoid booking holiday homes where you have to pay per person as the costs add up quickly with every extra member of your family.
Finally, allow all family members to work together to save up for vacations; that way, you can teach your children to invest the money they receive for chores instead of using it immediately.
Being frugal doesn’t mean you have to be a miser. You can still enjoy a good quality of life with your family without breaking the bank.
