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How To Manage Money With A Large Family

How to manage money with a large family

Families come in all shapes and sizes. Sometimes when you have a lot of family members it can be quite expensive. Here are some tips to keep your expenses manageable.

 

Set a weekly budget

Make this a family activity and create a calendar of everything that’s going on throughout the week. This will help you determine how much money needs to be saved to cover expenses. Tally up the total weekly cost and put aside any remaining amount for emergencies.

 

Find shortcuts to reduce spending

Some ways to save money include choosing generic brands over major brands at the grocery store and using coupons when making purchases.

Buying items in bulk can help you save in the long run. For instance, fresh produce and meat can used for multiple dinners. Save your leftovers in the freezer for future use.

 

Take advantage of free family activities

They say that the best things in life are free. The same can be applied to family activities. Check out the community calendars for your city to discover what events are being offered. Local newspapers will often contain lists of fun activities such as outdoor movie screenings or family day at the park.

Most museums also host free or reduced ticket nights throughout the week. Visit the websites of your nearest museums for more information.

 

Have a Rainy Day Fund

Every paycheck put a few bucks aside for leisurely activities like spending a day at the amusement park or a visiting the local zoo. You could even choose to save your funds for a bigger activity such as a mini road trip.