Having a family can be pretty expensive, regardless of how many children you have, you can expect to spend over $200,000 on each until they turn 18. This doesn’t even include paying for college. As prices for utilities, groceries, housing, and luxuries go up, there need to be ways to cut costs and save money. Whether you’ve got one child or multiple, saving money makes a huge impact on the back account. These money-saving tips are perfect for families of any size.

Keep celebrations simple

Any sort of celebration, whether it be a holiday or birthday tends to be dread for a lot of families. If you’re worried about saving costs, you should know that these celebrations are about making memories that last a lifetime not spending money. For something such as birthdays, they don’t need to be over the top. Try to taking advantage of in-expensive activities or some that cost nothing at all. Some examples would include hosting a sleepover, going to a museum on a day that’s free, or visiting the beach.

If you’re deadest on giving your child or loved one a nice party, then some venues are far more affordable when booking during peaks hours, or maybe try coordinating a joint party. Keeping guests small is another way to save money. Even when it comes to holidays such as Christmas, you don’t need to spend a lot on groceries or purchase elaborate gifts. Just keeping everything small will save money while still getting to celebrate.

Think about your house

Housing is one of the biggest costs when it comes to having a family. This could include the monthly mortgage, rent, repairs, or even just utilities. There are ways in bringing the cost down for some of these things. For example, installing a smart thermostat will give you control to lower the temperatures rather than fighting with the household about it. Small things such as turning off the AC or heating when the household is out can save a lot of money in the long run. Small things such as unplugging electronics until need it could save a bit when it’s time for your next bill.

There are more drastic things that could be done to save money such as refinancing your mortgage, as this could lower monthly payments. Downsizing to a smaller home or rental could work out if you have a small family. This could make a major impact on saving money. For generating income, you can check into local housing laws if you have a spare bedroom. It could be converted into a rental or maybe into a small Airbnb. While many cities restrict these, it is something that you should look into before heavily putting it into consideration.

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Preloved goods

Thankfully thrifting is considered something “cool” nowadays as it’s environmentally conscious and it’s a way to ignite slow fashion. When it comes to shopping for clothing, gifts, and household items, thrifting is an excellent way to cut costs. This also includes going to flea markets, consignment shops, online marketplace, and even clothing swap events.

New items can get pretty expensive, so buying preloved things is a great way to promote sustainability. This is something that can be introduced to your kids as not only a budgeting hack but also something good to do for the environment.

Think about food costs

Right after housing expenses, food costs are the next expensive topic for family budgets.  When going to the grocery store, there are so many things you have to keep in mind such as the budget list, cost of diapers, cost of food, what discounts are given out, etc. While couponing is a great option for saving money, not everyone has the time or energy to scout out coupons. Whenever possible, try to tailor your meal plan around what’s on sale. This alone can save on family expenses. There are plenty of apps available online that can show you weekly folders for groceries within your area. This will then allow you to take advantage of coupons and other special promotions too.

Have a family talk

It’s important that your children and spouse know and completely understand the situation. Getting your children involved in budgeting is a helpful life lesson that can help you as well. While it’s not necessary to get into all the details about what exactly your income is or what the expenses are in the houses, just going over ways to save money will help. It’s always best at a young age that a child understands the value of a dollar, and having this talk with them will allow them to gain that understanding.