Money Saving Tips For Families

Since the Federal Budget was announced last month, families have been left feeling short changed and everyone is searching for ways to save money wherever they can.  Some savings can seem so insignificant but when you add that to all of the other money you can salvage, you’ll be pleasantly surprised at how much more money you have in your pocket.  

Buy second-hand or borrow from friends

Especially when it comes to new baby items, think about buying them second hand or borrowing from friends if you’ll only be using them for a short period of time.  A lot of second hand items have only been used a handful of times and you’ll be paying a fraction of the cost of a new one.

Sell unused items that you no longer need

Getting rid of those baby items that are collecting dust in the cupboard is an easy way to put some extra money back in your pocket.  If you find your house needs a general clean out, consider a garage sale – you’ll be surprised at what you think is junk, is actually someone else’s treasure.

Shop at markets and buy home brands at the supermarkets

Fruit and vegetables are generally cheaper if you can purchase them from farmers markets rather than supermarkets.  When you do shop at the supermarket purchase the home brands which are generally cheaper than the well-known brands and are almost identical in quality.

Shop around for suppliers

When your insurance products come up for renewal, shop around to see if you are getting the best value for money.  While you’re at it, check on your home loan, electricity, phone, internet and gas suppliers.

Buy non-perishables in bulk

Look out for specials and buy non-perishable items such as nappies and wipes in bulk where possible.  Think twice about buying fruit and vegetables in bulk though as sometimes they tend to go off before you’ve had a chance to use them and that’s just money going straight into your rubbish bin.

Layby for Christmas/birthdays

Be organised early and start a layby for those big Christmas or birthday presents.  Taking a small amount out of your income each week is far easier to manage than shopping last minute for expensive items.

Sign up to a toy library

Toy libraries are a great way to get new toys, books or educational resources for your children without having to purchase them.  For a fee you can hire the items for a set amount of time then return them for new ones once you are finished with them.

Buy a water purifier

If you’re buying a large bottle of water every day, over the course of the year it could cost you around $1500.  Consider purchasing a water purifier at a fraction of the cost which you can use time and time again.

Buy a coffee machine

Again, if you’re paying $5 for a takeaway coffee every day (which doesn’t even include those extra shots) it equates to $1825 each year.  The cost of purchasing a basic espresso coffee machine and some ground coffee will normally work out considerably cheaper in the long run.

Use a piggy bank

Some people think piggy banks are only for children – not true!  Each week put your loose change into a piggy bank and after a year you’ll be pleasantly surprised by the hundreds of dollars you’ve saved within. 

Image via thinkglink.com/2013/02/26/10-simple-easy-ways-save-money/

By Karyn Miller