How To Save As a Family: Tips And Tricks To Get Started

It takes a lot of commitment and discipline to save a few bucks every month.  But the good thing is that it can be done as a family to great reap rewards together in the future.  Here are some surefire ways to save up together as one family.

Cut down on utility expenses

Unplug gadgets and electronics at night, and install low-flow water faucets.  Those light bulbs can also be replaced with compact fluorescent or LED lights to achieve big savings on one’s electric bill.  The family can also save on heating costs by sealing windows and doorways, with one-third of a home’s total heat often lost through drafty windows and doors that needed to be sealed up and properly insulated.

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Make your own personal care and cleaning products

Create a moisturizer by mixing coconut oil, vitamin E oil, as well as lavender oil.  Produce a dry shampoo from cornstarch and essential oil.  These not only maximize ingredients that are already likely found at home but also get one started on the natural, organic skin care journey.  And what’s not to love about baking soda?  Use it for cleaning and replacing expensive chemical-based cleaners.

Cut your cable subscription

This one might be a difficult adjustment especially for kids, but it will allow everyone to save up while spending less time in front of the TV.

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Stop hoarding, start selling

Get rid of so many stuff inside the household.  Put them up for sale on sites like Craigslist or by holding a garage sale.  To avoid this situation altogether, don’t collect items that have questionable value. Instead, use those funds for worthy and long-term financial goals.

Douglas A. Grady is a Pasadena, California-based financial advisor. He specializes in personal finances, providing advice on investments, mortgage, insurance, college savings, estate planning, taxes, and retirement to assist people in need of financial management. For similar reads, click here.