Having a family can be hugely expensive!
There are school uniforms, holidays, Christmas, a bigger house, car, increased bills and a lot more besides. However, there are many ways to cut your costs to save money whilst living well and enjoying your family.
One of the best ways is to shop around – we live in a time where everything is so easily accessible it is easier than ever to check if you’re getting a great deal.
When your renewal comes in the post for your car, home or life insurance, don’t just take it for granted that they will be offering you their best option. It takes minutes to check the alternatives on a price comparison website, but could save you hundreds of pounds a year.
Cars can be a huge cost
The initial cost, insurance, fuel, tax, MOT and repairs of a car can really mount up over the year. If you have more than one you may decide that you want to sell your car.
You can easily use the vehicle check with autotrader.co.uk to see if it’s worth selling for your family. If you do need two cars another option is to choose a car with a low road tax band and that’s fuel efficient. It can make a big difference to your outgoings.
Budgeting is the way forward
Creating a budget is a good way to stay on top of your finances. Knowing what’s coming in, budgeting for the essentials every week, any events coming up and being able to make sure you have more money coming in than what’s going out means you’ll not have to worry or guess.
One way to help with your budget can be to spread your costs. Knowing Christmas is coming up means you can look out for sales in October to begin to buy gifts. If you know you have a holiday then buy your holiday supplies the month before to avoid spending too much or becoming overdrawn.
Stay out of the red
Finally, try to get or stay out of debt. Interest rates make it so hard to pay off loans or overdrafts. Save up for the things you need and pay off any debt you can as quickly as possible.
Saving money in these few areas means that you’ll have less to worry about, and more time to enjoy your family.