Thriftiness as a Family Trait and How to Practice It Successfully
In terms of money, a family home acts much like a small corporation but only when it comes to spending money. Since parents are the only ones who get paid for their work, they have to come up with innovative ways to be thrifty so children and the elderly will have everything they need. In this sense, thriftiness actually becomes a family trait that a family should practice for years in order to perfect it.
However, here are several hacks on how to achieve instant thriftiness and keep the home budget under control.
The cost of food
You have probably been living for some time in your family home and know how much food your family consumes on a weekly basis.
You can use this info to come up with a shopping list that would enable you to go on a shopping spree once a week to get everything you need for that or the next week.
Bulk buying, coupons, and special offers aren’t being thrifty, but the norm. Don’t count too much on saving money by shopping once a week but merely not overspending.
If you own a car, then you can visit several shopping centers in a single morning to get the best deal for all the items on your shopping list.
Be aware that supermarkets have the policy to lower the price of some items only to rip you off on the price of other products so don’t rely exclusively on a single franchise.
The benefits of a programmable thermostat
If you thought that the utility bills could not be lowered, you were wrong. Research has shown that sleeping in a cold room is actually better than sleeping in a warm room.
This means that there is no need for the heating to be on at night time, regardless of the air temperature outside.
If you have a programmable thermostat installed, then you can lower the temperature at night to benefit from a cooler home.
The air temperature would go up again in the morning so you will wake up in a warm room, even during chilly winter days.
Downsizing your home
There isn’t a family who cannot cut their costs of living but in some cases, the family home could pose an unsolvable problem.
After your kids leave for college, the once stately house or a large apartment might become too expensive to upkeep.
These are times to think about downsizing your home, selling it or even renting a part of it.
If you don’t fancy the idea of renting your private quarters to strangers, then you should consider acquiring another piece of property.
After you’ve secured a building lot, simply contact new home builders to erect your dream house.
The best thing about it is going to be the fact that its maintenance cost and the general cost of living will be affordable considering your present status.
Saving money on entertainment or travel
Food, gas, utility bills, clothes, etc. all expenses that you have to have in order to; well, survive! We’ve mentioned how you can save on money shopping for food but this won’t, unfortunately, account for a major save.
In fact, you can save much more on luxuries such as entertainment and holidays.
Don’t get us wrong, we are not saying that you shouldn’t travel or have fun, just that you can do it in a more frugal manner.
For instance, if there is a water park or an arcade game center near your home, there is no real need to drive the kids to bigger and fancier ones, respectively in the nearby town.
Furthermore, when planning a vacation, exclusively go first minute and last minute deals which are cheaper in general.
Also, look for hotels who allow children under a certain age (usually 12) to stay with their parents for free.
Teaching your children about the importance of saving money
Finally, there is one didactical measure that consists of nothing more than teaching your children a valuable lesson about money.
Since you’ve probably succumbed to their incisive demand to buy them an expensive toy, you should instruct them on how money functions and why thriftiness is important.
Admittedly, it will be hard to explain to kids a concept that doesn’t concern them but as they grow up, they will feel thankful that you taught them proper money management early on in life.
The points we have listed above might not seem like thriftiness individually.
However, once you combine them and a few of your own thriftiness policies, you can save tens of thousands of dollars each year.
By changing the place where you shop and go for a vacation, you can influence the home budget hugely.
Add to that the possibility to downsize your home or move to a new one and you get the ultimate solution to all monetary issues your family might be experiencing.
Author
Sarah Jessica Smith is a young blogger from Sydney. She is in love with life and all the things that can make her daily routine easier. She loves to write about home improvement, lifestyle, and all the small things that make life such a great adventure.
Category: Family Finances
