With costs continually rising, supporting a family is getting harder and harder. Even if you have two adults in the house bringing home an income, making ends meet can still be an uphill battle. But this doesn’t mean you should get used to struggling.
Having more financial freedom is possible; you just have to learn to be a little more flexible and potentially try something new. In this article, we’ll offer some money-saving lifestyle tips to help you and the whole family learn to be a little more sustainable and savvy with your money.
If you want to adopt a more sustainable way of life while also saving money, consider giving your home some eco-friendly upgrades. Though these upgrades might require an upfront investment, the savings you will earn are typically well worth the effort.
You can upgrade to a smart thermostat to make your cooling and heating more energy-efficient. Update your windows and use heavier curtains for better insulation. Upgrade to more energy-efficient appliances. Use water-saving plumbing fixtures. And switch out all your lightbulbs for LEDs.
Sometimes, saving money is as simple as reworking your budget. Recently, the 70:20:10 budget has been gaining in popularity with those looking to find better ways to save and spend.
The concept is simple. You set aside the largest chunk, 70%, for living expenses. Then, 20% goes towards paying off debt. The remaining 10% is the money you set aside for fun extras or anything you want after you have paid for your essential expenses.
Instead of buying all your food at the grocery store, try cultivating food of your own. Making a garden, cultivating mushrooms, and living off the land are excellent ways to save money and live more sustainably. And there are so many things that you can easily grow on your own, like mushrooms, fruit, vegetables, herbs, and legumes.
When trying to save money, taking a hard look at your consumer habits may shed some light on why you are struggling financially. One common reason you may go over budget is if you choose to always buy new products. This habit often harms the environment as well as your wallet.
The next time you go to buy a new item, consider the four Rs: reduce, reuse, repurpose, and recycle. For instance, do you really need to buy that new beauty product, or can you use a household item you already have for skincare? Can you repurpose an item that you already own instead of buying something new?
For example, instead of tossing out old clothes, you can reuse them as cleaning rags. And instead of buying an expensive moisturizer, you could be using olive oil or coconut oil, which you likely already have at home.
One of the top things that people tend to blow money on today are memberships and subscription services. But do you even need them or use them enough to make the cost worth it?
Canceling memberships and subscriptions is a simple and effective way to reduce your monthly spending and save money, even on a tight budget. This is one of those things that people often sink money into and then forget they are paying for it.
The adults in the family shouldn’t be the only ones looking for ways to save. Teaching your kids to save money will not only help your family now, but it will also help them be more economically savvy as they grow up.
For example, instead of paying for everything for your kids yourself, you can teach them how to start saving up their own money for the things they want to buy. If they are younger, you can start by getting them a piggy bank. When they get older, you can help them open a bank account and get a debit card of their own.
Making changes to your lifestyle or habits can feel uncomfortable at first, but is it more uncomfortable than the stress of not having enough money? If you want to save more or have more money for the things you love, then you need to be willing to change how you live. These changes might be hard at first, but when you have more financial freedom down the road, it will be worth the effort in the long run.
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