Browse Tag by Money saving
Finance, Lifestyle

Saving for summer

Saving for summer

Saving for summer

Being a parent and trying to save money can sometimes prove very difficult. Even more so for summer activities and a family summer holiday. I don’t know about you but it often feels as if money evaporates before our eyes. As the saying goes “every little helps”. A few small changes to spending habits can help a great deal and make quite a difference to the savings pot.

Saving doesn’t have to be boring, you can still have fun and save at the same time.

Here are a few saving ideas that may help you save a few pennies for summer:

  • Are you one for going off of lunch dates with friends? Try and cut out on the expensive coffee shops or pub lunches, try and meet for a picnic or even play host and take turns to lunch at each others house. That way you could save a few pounds but your still meeting and having fun.
  • Do you meal plan? Meal planning we find also helps watch the pennies. If meals are planned out in advance for the week it helps with budgeting the funds, it helps to cut out on the impulse buying and also food waste. I am guilty of always impulse buying and buying the “I may need this” item. I am always buying food products and forgetting that they are there and before I know it the food has gone out-of-date. Having a list to stick to and a budget in mind has helped massively. I now try and do online shopping to save the risk of temptation.
  • Voucher codes are always worth looking out for to help keep the costs down. A quick look online could help reduce your bill.
  • Having a sort out of unused items could bring in a few pounds to your saving pot. I think we are all guilty of having a junk area and unused things shoved to the back of the cupboard.  It may be worth having a sort out and advertising the products for sale, someone could grab a bargain and you make a few pounds.
  • Have a closer look at your usage to see what you truly need/use. We recently reduced our TV and internet package as half the channels we didn’t even watch. We are also going more energy-efficient around the home. In the long run the savings here will help keep costs down.
  • Comparison sites is always worth a browse. We never just auto-renew our insurances/contracts we always take a look at the end of every contract. This helps to keep the bills down each month.
  • Walking where possible saves us money and keeps us fit. Being a two car family due to both working and needing a car this means double the car bill. Where possible we leave the car at home and walk. This saves on wear-and-tear on the car, petrol and also parking fees.
  • Grow your own is something we done last year and really enjoyed. Have you ever tried growing your own fruit and veg? this saved us money last year and we hope to do it again this year. Home grown tastes so much better.
  • Try out cheaper brands in store, you never know you may be surprised and even like the cheaper brand. If you can change just a few items to a cheaper brand that could save you a few pounds to add to your savings pot.

These are just a few ideas that may help with saving a few pounds to put towards something for the summer. We are off on a few family holidays over the next few weeks, making a few changes will save on having to apply for a loan. Some may say short term loans can be a good solution but we would rather avoid loans as much as possible.

Do you have any good money-saving ideas?

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Kid's corner

Money-saving help

Money-saving help

Lee and Bradley would like to write about money-saving. Over to Lee and Bradley for kid’s corner.

We have recently been looking into how much money we get/earn each week. We have recently noticed that we need some money-saving help as we admit to wasting our money each week and have nothing to show for it….Well we are teenagers after all!

What we have done is, on our computer we have made a spread sheet of all our money earned doing odd jobs and added pocket-money given, as well as our money spent and what it was spent on. We have done this for one week and the results so far are.

IMG_0562We earned:

Lee – £25

Bradley – £15

We spent:

Lee – £20

Bradley – £11

Saved:

Lee – £5

Bradley – £4

We earned a  fair amount in odd job’s this week and with our pocket-money on top took us to a good amount but we then go and waste it at school in the canteen and whilst out with our friends…..As teenagers do we guess.

Looking at our outgoing’s and what we spend our money on we are going to work this week on minimising this and getting some more money saved next week…Well try our best to anyway.

Well we have managed to save some of our money this week this is already a bonus compared to other weeks so already this project is helping us. We work at our local market, we help them set up in the mornings before school and then go back and help them pack away after school, we help do this twice a week, on a Monday and then again on a Wednesday so this gives us a little extra pocket-money each week, we are planning on helping their more in the school half-term week so this will help us get some extra money to give our savings an extra boost, we can then get the football tickets and computer game quicker that we are saving for.

The family investments project is really helping us with some money-saving help, we are learning how to budget our money and learning that we can save for bigger and better things.

Disclaimer: This is a follow on post as part of a project we are working on. 
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Kid's corner

Money saving challenge

Money saving challenge

 

Lee and Brad are like any other kid’s, they love money……Well don’t we all!

When it comes to saving on the other hand, well then they are not so keen. We have started working on a money saving challenge run by family investments, by doing this they will be able to have a closer look at incoming’s and outgoing’s to see where they are going wrong when it comes to saving money, it will also give them a better understanding of money and what they could achieve by saving.

The minute they have money it burns a hole in their pockets and they feel the need to spend it, they then go off and waste their money and nine times out of ten they have nothing to show for the money that they have just had.

We have asked the boys what would be the one thing that they would love to be able to just go off and buy if they had the money to do so. Lee said he would love to be able to buy a football ticket to go off and watch a spurs game with his mates. Bradley chose to save for computer bits.

We have set them both a money saving challenge, we have asked them to work out how much they both could earn in one week via doing odd jobs, saving pocket-money etc and see how much they can manage to save.

Lee and Brad have never really had to save for anything really as things they wanted we have either just gone and got for them, put it on a gift list for either birthdays or christmas or we have added the rest of the money to money given to them as a gift. I don’t know if this is a good thing or bad thing us doing this.

We are keen to see how this money saving challenge will help the boys and keen to see if it gives them a better understanding to the value of things. They have a money-box and a saving chart at the ready and they are very keen to get saving.

What age do you think is a good age to help kid’s understand money saving/value of money? Lee is 14 and Bradley is 13.

Fingers crossed this gives them more of an understanding! update to follow soon.

Disclaimer: Lee and Bradley was sent some items to help them keep track on their money-saving. All thoughts and opinions are 100% our own.
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