How to Cut Down On Family Spending

The cost of living has been hard, for so many people, and many families are looking to cut down on family spending. This is certainly something I have been doing in recent times to help combat rising costs but this can be hard to balance with still wanting to be able to provide a comfortable life for your family and memories with your kids. 

Here are a few strategies that can help you cut back without sacrificing too much.


Create a Family Budget

First, to get a clear picture of your finances, you should try and create a monthly budget as this can help you control your spending. 

Write down your incoming and outgoing cash flow, totalling your household take-home pay and dedicating a percentage to different categories, such as rent/mortgage, bills, food, and entertainment. If you find that you are spending all of your money each month, you need to go through your expenses and find ways to cut back and make savings. If possible you should also have a small percentage of your income going towards savings. There are budgeting apps that you can use to create your own budget or you could make your own spreadsheet.

Reduce Transport Expenses

Transport is often one of the biggest costs for parents. If you drive then regular trips such as school runs, grocery shopping, days out and visiting friends and family can quickly add up in petrol costs. One of the easiest ways to save money is to walk and cycle where possible or if taking public transport is cheaper than start using that. If you have more than one car, consider a multi-car insurance policy as these could offer savings and help in simplifying your paperwork and make sure to do price comparisons every year. 


Save On Household Bills

Bills are another major expense for families, especially in the colder months of the year. While household bills will always be a significant cost, there are always ways to reduce the amount you have to pay each month. This can include:


*Switching providers
*Using a smart thermostat
*Using energy-efficient appliances
*Turning off lights when not in use
*Washing clothes on a cold setting
*Air drying clothes
*Taking advantage of off-peak tariffs for electricity
*Batch cooking
*Taking shorter and/or colder showers

Cut Down On Grocery Costs

Putting food on the table, especially at the moment can cost a fortune, particularly if you have many mouths to feed! It can be hard to strike a balance of nutritious meals that the whole family enjoy. There are however ways to help bring down costs, here are a few I've implemented over the past few years.

* Shopping at cheaper supermarkets like Aldi and Lidl

* Using clear shopping lists to help avoid impulse purchases

* Buying supermarket-own goods over branded products

* Buying in bulk

* Doing simple meal prep and batch cooking

* Taking advantage of discounts and loyalty schemes


Cut back on non-essentials

Do you have a gym membership you are just not using? Do you need 5 different streaming services? Now is the time to cut any subscriptions you are not genuinely using to the full.

Reduce eating out, even if you don't see yourself as someone who eats out because it's not a restaurant, perhaps it's just that daily coffee out or bakery treat - either way they can go, pack lunch, take a coffee flask - these are both quick ways to reduce outgoings. 

Stop buying clothes new and switch to upcycling and thrift platforms such as Vinted where you can find clothes in excellent condition for a quarter of the price. 

Focus on free days out

When it comes to weekends and school holidays, while the odd treat day out is often needed, the focus should be embracing the free activities you have on your doorstep, you would be surprised how many there are. Here are few ideas for free days out and remember take snack, water bottles and packed lunches. 

1. Free museums

2. Explore the local country park

3. Trip to the beach

4. Hiking local trails

5. Try out Geocaching

6. Going for a bike ride

If you are looking to cut back on your monthly costs, this post should give you a few ideas. Many families have been struggling in recent years, but you should know that there are always ways to save money each month while still providing a happy and comfortable lifestyle for the whole family.