12 Money-Saving Tips for Families

Family-friendly ideas to save money and prepare a household budget.

By Navy Federal March 11, 2019
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With a little creativity and effort, it’s entirely possible to save money while running a busy household. Start by using Navy Federal’s budget calculator 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:

  1. 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.
  2. Think used. Visit your local thrift store, swap group or Craigslist for secondhand items, like gently used toys, clothing, furniture and other household items.
  3. 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.
  4. 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.
  5. Find free or low-cost kids’ activities. Visit theme parks, museums and other places that offer discounted or free entry for children and families.
  6. Eat out for free. Take advantage of restaurants that let kids eat for free on certain days of the week.
  7. 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.
  8. 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!
  9. 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.
  10. 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.
  11. 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.
  12. 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.

This article is intended to provide general information and shouldn't be considered legal, tax or financial advice. It's always a good idea to consult a tax or financial advisor for specific information on how certain laws apply to your situation and about your individual financial situation.