Quick and Easy Ways for Your Family to Save Money

No matter how much money you make, it’s always a good idea to spend less so you can save more. Especially when you consider the fact that the average family will spend $233,610 to raise just one child!

Don’t let an empty bank account haunt you for 18 years. There are quite a few quick and easy ways your family can save hundreds or even thousands of dollars.

    1. Find Ways to Save on Prescription Costs

Prescription costs can quickly get out of hand, especially if you have multiple family members. Some families spend thousands of dollars a month on prescriptions.

You aren’t stuck paying the amount that shows up on the cash register. There are some surprising ways you can save money. Ask the pharmacist if you can switch to a generic, or browse the internet and look for prescription coupons.

You can also look into prescription assistance programs if your family is really struggling to pay for prescriptions.

    1. Buy Generic

When shopping at the grocery store, it can really pay to buy generic. You’ll save a lot of money, and surprisingly, you won’t sacrifice quality.

Many generic brands are packaged in the same factories as the name brand stuff. That can of corn that only costs 40 cents is literally the same corn in the can that costs $1.00.

Food is the first thing to come to mind when it comes to buying generic, but there are plenty of other things that have generic options including:

  • Diapers
  • Baby formula
  • Gasoline
  • Sunscreen
  • Cleaning products

There are many other areas where brand names are more about the look than the quality. Shy away from big name brand clothing and electronics and you can save even more.

    1. More Insurance Isn’t Always Better

Insurance is so important because it can help your family save money in the long run on medical costs, but insurance is about much more than just health insurance.

When it comes to saving money on insurance, everyone always talks about car insurance. There’s definitely the opportunity to save there, but you can save on other types of insurance too.

One example is life insurance. Many people are tempted to get coverage that pays out way more than necessary. If your family makes between $50,000 and $100,000, there’s no need for $1 million in life insurance. You can save money by investing in a smaller policy that fits the needs of your family.

    1. Pay With Cash

This is a simple tip that any family can follow—pay with cash! There’s no question that credit and debit cards make paying extremely convenient, but it’s a lot easier to spend more money when you don’t actually see the cash leaving your hands.

Not to mention, paying with cash is the easiest way to stick to your budget. When the cash is gone, it’s gone!

Every family can find ways to save. Treat it like a challenge, get everyone involved, and you may even find that saving money can be fun!

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