12 Money-Saving Tips for Families
12 Money-Saving Tips for Families
Family-friendly ideas to save money and prepare a household budget.
With a little creativity and effort, it’s entirely possible to save money while running a busy household. Start by making a budget to find out where your money is going, then try to find areas where you can save by cutting your regular expenses. Here are some ideas to get started:
- Enroll in subscription services. Set up scheduled deliveries and save up to 20 percent on diapers, baby food and more with a service such as Amazon Family.
- Think used. Visit your local thrift store, swap group or Craigslist for secondhand items, like gently used toys, clothing, furniture and other household items.
- Start planning for your child’s education. Navy Federal offers 529 plans and other savings options to help you pay for college and other education-related expenses. You’ll reduce the amount you (and your child) may need to borrow when the time comes.
- Embrace savings. Start an emergency fund for unplanned expenses like a car breakdown. Help your children become super savers by opening a savings account for them.
- Find free or low-cost kids’ activities. Visit theme parks, museums and other places that offer discounted or free entry for children and families.
- Eat out for free. Take advantage of restaurants that let kids eat for free on certain days of the week.
- Learn a new hobby. The entire family can have fun by getting involved in a hobby like gardening. Plus you’ll save money on produce.
- Check out discount stores. You can save a hefty sum when you buy at discount retailers like Aldi or Costco – as long as you stick to your list!
- Buy bulk items online. Try a wholesale shopping app like Boxed to buy online. Plus, you’ll help the environment by avoiding a car ride and reducing the amount of packaging going into the trash.
- Visit your public library. Libraries are more than just a place to borrow books—they're a great, free resource. You’ll find all types of media, including recorded books, CDs and DVDs for all ages and interests. Many libraries also host free family and kid-friendly events and programs throughout the year.
- Get rewarded. When you shop with a Navy Federal rewards credit card, you can get cash back on purchases or earn rewards points that can be used for travel, merchandise or gift cards.
- Plan a weekly meal menu. Knowing what you’re shopping for lets you save time and money, so you won’t have to wander the aisles looking for ideas.
Maintain your family’s money-saving groove by managing your money and tracking your spending habits with Navy Federal Credit Union’s mobile and online banking tools.