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Including ways to become a frugal family and live a fun life on a budget
We all want to save money while raising a family, and becoming a frugal family is a good way to do it. Frugal living doesn’t mean going without, it’s more about living life to the full on less.
If you want to learn how to be frugal and are looking for all the best frugal living tips then keep reading as we have 101 of the best frugal living tips that will help you save money throughout 2020.
We loving frugal living. It gives us the freedom to do the things with the children that we’ve always wanted to do.
What does frugal living mean?
Frugal living doesn’t mean that you go without. Living a frugal lifestyle means that you save money on your daily living expenses so that you can spend money on the items that are really important to your family.
That could mean that you pledge to stop eating take-outs and put that money towards a dream holiday or switch your bills regularly and put the savings towards paying off your mortgage.
What is frugal living?
Frugal living, in the real world means making sure you have enough food and enough money to live while not going into debt or worrying about you are going to pay the bills next month.
This means that you and your family get to live the lifestyle that you want. Decide what’s important as a family. What do you all want to save for? You all have to be invested to be able to achieve your goal.
Wikipedia explains the meaning of frugal living as “The quality of being frugal, sparing, thrifty, prudent or economical in the consumption of consumable resources such as food, time or money, and avoiding waste, lavishness or extravagance.”
For us, it’s more about being free from debt and no longer living month to month.
The good thing about living a frugal lifestyle to that it’s as flexible as you are. You can be as frugal as you want while still watching your savings grow.
Frugal living gives you options as a family. Debt limits your options!
For our family; frugal living means that we really think about what we spend our money on as a unit. That whatever we spend it on is essential and not just a want.
That doesn’t that you have to live like this too. Frugal living could mean something different to you. It could mean that you’ve now decided to start making prudent money choices.
How to save money living frugal?
To start living more frugally as a family you need to make smart money choices. Make your money work for you and really start to budget are the first steps to saving money while raising a family.
If you haven’t started already, then creating a household budget is a good place to start. It allows you to see what you’re spending money on and if and where you need to cut back.
Try and decide how much you’re going to spend on food, petrol, and treats and stick to it. If you prefer to use cash to budget then drew it out and put it in envelopes to use. Anything left over gets put into the money pot.
If you need to start saving money but don’t like the idea of going frugal then try these top three posts to get you on your way to helping your family save money:
- Budget Meal Planning: How to meal plan so it saves you time and money
- How to afford maternity leave in the UK
- Family Life: Sorting Your Home Finances When You Are Living With Less
Food plays a bit part in the family budget.
Whatever you and your family plan on eating that week put down. Make this your one and only shop for the week.
Start by listing every meal time and plan out the week. Get everyone involved to pick a meal.
Having trouble filling up your meal plan? Then use these meal plans as ideas.
Write down whatever ingredients you need for your meal plan to work including drinks. Then look through your kitchen staples and check you don’t need anything. We have a full list of our kitchen staples here. They are all cheap but can bulk out a meal if needed.
Managing the money you do have can be hard when it needs to be pulled in so many directions.
There are loads of budget phone apps that can help you keep on top of your finances wherever you are.
We use Plum*. It’s completely free and it lets you input your salary and outgoings, plus links to all your accounts including savings and investments.
If you seriously are struggling then please take a look at our No Money for Food? This is What You Do When You Really Have No Money To Feed your Family post which walks you through all your options.
Please don’t suffer in silence. Get help now so you and your family can move forward.
If you have never budgeted before or it’s been over 6 months since you reviewed your finances then why not join our Money Saving Mums group.
It’s a group for mums who want to overhaul their money and get some real tips on how you can stretch your money. It’s a closed group so only those that have accepted the challenge can see your posts. We are all at different parts of our money saving journey so there’s no shame. We talk openly about how all save money to try and help each other.
So what are you waiting for?