General

Ten Money Saving Tips For Everyone

1. Strategies to Reduce Your Debt

One of the most important money saving tips is to strategize your debt repayment. The biggest barriers to financial success is debt payments. It can feel very discouraging when you constantly spend your well-earned money on inconvenient debt. Ridding yourself of debt can help you focus on your financial goals and make planful decisions that save you money.


Before paying off your debt, plan and organize your required payments. Use your preferred method of organization to separate all of your debts by type, how much you owe, and interest rate. From there, create a budget that will give you an idea of how much you’re able to pay off each month.

Once you’ve created a budget and organization method, it’s time to decide how you’ll pay off your debt. Generally speaking, there are two main debt payment strategies: the snowball and avalanche methods.

The snowball method means that you first pay off your least expensive debt payments. In contrast, the avalanche method refers to a strategy of reducing your most expensive payments right away.

Once you’ve selected your debt payment method, it’s merely a matter of strategizing and making proactive decisions that prevent you from adding on more debt. This can mean paying more than the minimum amount on your monthly credit card statements or removing credit cards from your life altogether.

2. Grocery Shopping Tips

If you’ve been going through a period of financial insecurity, start by creating a grocery store budget. You probably didn’t know that the average American family of four spends about $928 each month on groceries. Although it’s a requirement for all people, necessary foods, household items, and entertainment are extremely expensive.

Before leaving for the grocery store, search through your pantries, fridge, and cupboards to make sure you’re not ordering more than you need. Create a shopping list and stick to it; try your best not to buy something you don’t need. If your children are old enough to be left home alone, consider going to the grocery store on your own to prevent impulsive shopping.

Before getting groceries, start planning by getting accustomed to coupons and joining loyalty programs that can help you save money while shopping. If your local grocery store offers cash-back credit cards, it may include beneficial monthly savings. Just remember to pay off your bill each month to prevent adding on further debt.

Another strategy that can help you save money and time is online grocery pickup or delivery. Most grocery stores offer these services for free, even local supermarkets. Ordering groceries online forces you to focus on the shopping list instead of impulsively buying items you don’t need.

3. Cooking Recommendations for Families

The global pandemic forced many families to figure out ways to meal plan in an affordable manner. Even without considering COVID-19, the average family spends around $294 on food outside of the home each month.

This proves that eating at home significantly reduces monthly costs. Here are a few simple and affordable meals that busy families can enjoy.

Chicken, Cheese, and Penne Pasta Bake

This is a simple and affordable recipe that will rejuvenate your entire family. This meal combines chicken, penne pasta, and cheese that can be flavored with seasonings of your choice. Mushrooms and artichokes are added as a sauce before being covered with cheese and baked.

Pizza Pockets

Why buy pizza rolls when you can make your homemade rendition of them right at home? Pizza pockets are easy to make and can be great as appetizers or lunch food. You’ll only need refrigerated biscuits, tomato sauce, and your favorite pizza ingredients.

French Toast

A classic meal choice that can be served for breakfast, lunch, or dinner. French toast is excellent if you have any excess or stale bread that needs to be used up. It can also be great if you need to use up the last of your milk before grocery shopping. With french toast, you’ll only need three essential ingredients: bread, milk, and eggs!

4. Have You Been Keeping an Eye on Your Subscriptions?

There’s no denying that we currently live in a world full of subscriptions, memberships, and streaming services. As most of our spending continues to shift to more digital forms of transactions, it can be easy to forget about that one subscription service that you never use anymore.

Even so, if you continue to pile on more unnecessary subscriptions, your monthly costs will only increase. It’s essential to pay close attention to credit card and bank statements to identify any subscriptions you don’t need anymore. If you start a free trial for a subscription, back out of it immediately if the service asks you for payment information.

Instead, work with your family to determine what subscription services you can all share instead of one person paying for a singular membership. If your family agrees that Netflix is a popularly shared subscription service in your household, pay for a larger plan that allows the service to be used on two screens simultaneously.

In the meantime, turn off auto-renew on any of the subscription services you’re not currently using. If you’re starting a free trial, make a note on the calendar to determine whether you want to keep the subscription service before the next pay period. Finally, if there are any subscriptions or memberships that you no longer wish to keep, cancel your payment plan right away.

5. Creative Gift Ideas to Save on Costs

Whether one of your children’s birthdays is coming up or you’re planning for the holidays, gifts can be costly. Some of the most thoughtful gifts don’t come from a store. If you’re trying to save money while finding a thoughtful gift for a loved one, here are a few creative ideas that won’t break the bank!

Volunteer in Their Name

If your loved one is passionate about a certain nonprofit organization or service, consider volunteering in their name! While donations can significantly benefit specific nonprofit organizations, volunteering doesn’t have to cost money. For example, if your loved one is passionate about rescuing animals, volunteer at your local animal shelter.

Hand Down Your Family Recipes

Does one of your children love to cook? Do you have a friend that’s always complimenting your family recipes? Make the thoughtful decision to give them all your shared family recipes in a notebook or DIY recipe box. This is a thoughtful, sentimental, and valuable gift for loved ones passionate about cooking.

Create a Scavenger Hunt

Scavenger hunts are fantastic team-oriented gifts that can be enjoyed by the entire

family. You’re welcome to incorporate cheap, simple prizes for your children, but a scavenger hunt doesn’t have to cost a thing if you don’t want it to. For example, instead of searching for prizes, have your family search for meaningful places and objects (i.e., “search for an item that reminds you of your favorite family vacation)

6. How to Create a Budget

Creating a budget is one of the most common advice you’ll ever receive about finances. A budget can significantly affect your financial decisions, but it can also help you accomplish all your financial goals. However, it can be challenging to know where to begin when planning out your investments.

So what exactly is a budget? A budget is a financial summary tracking all your expenses and income during a specific time. Contrary to popular belief, being on a budget doesn’t mean restricting how much money you spend. It’s more about learning to be strategic with your finances.

Done effectively, a budget can give you a detailed description of how much you’re making, how much you currently have, and where the majority of it is spent. To set up a budget, start by creating a template of your choice that can help you visualize all your financial numbers. Once this is completed, follow these six steps to finalize your budget:

  1. Organize and analyze your financial statements (i.e., bank statements, utility bills, W2s, e.t.c.)
  2. Calculate your income
  3. Record all of your monthly expenses and how much you’re spending for each (i.e., car payments, insurance, mortgage payments, e.t.c.)
  4. Separate your fixed expenses from your variable expenses
  5. Compare your total monthly income to your expenses and find out if one is higher than the other
  6. If your expense is higher than your income, make adjustments and implement them into your budget plan

7. Easy DIY Home Improvement Projects

Certain home improvement projects should be left to the professionals. However, there are also plenty that can be done on your own. DIY home improvement projects are not only doable, but they can save you a lot of money during periods of financial insecurity. Here are some affordable and accessible home improvement projects that can be accomplished by a simple visit to your local hardware store.

Add New Wallpaper

New wallpaper can add extra style to your home without needing a complete paint job. Plus, modern peel-and-stick wallpaper makes it easy to apply a new design to your living space. All you’ll need to do is measure the height and width of each wall and then multiply those numbers to calculate the square footage of the wall.

Build a Shelf

Building a new shelf is a speedy and straightforward process that will only require basic tools. The first step is to determine where you want to place the shelf and how large you’d like it to be. Then, measure the height and distance between each bracket and drill pilot holes for the screws before securing the shelf.

Paint Your Front Door

Painting your front door is a great DIY project to freshen up your home’s exterior

design and welcome guests with a new style. Before painting your front door,

make sure you do the proper prep work, such as sanding, washing, and drying the surface. Consider applying two coats of paint-and-primer to get the best results.

8. Free Services Offered by Your Local Public Library

Libraries don’t just let community members borrow free books. They offer several services that are highly affordable for all people. Having a library card and bringing your family to the local public library could save you hundreds of dollars each month. Here’s a list of free services and resources provided by local public libraries.

  1. Audiobooks and ebooks
  2. Entertainment such as movies, CDs, TV shows, and video games
  3. Community rooms and study spaces
  4. Workshops and classes
  5. Career services
  6. Computers and printers
  7. Tools
  8. Subscription restricted databases and online resources

9. Affordable Staycation Ideas for Families

When people picture family vacations, they usually think of white sandy beaches, five-star resorts, or a relaxing cabin surrounded by mountains. There’s nothing wrong with these forms of vacation.

However, they can be challenging to accomplish if you live through financial insecurity. Thankfully, there are always convenient, affordable vacation destinations in the comforts of your hometown! Here are a few affordable staycation ideas that the whole family can enjoy.

Visit Your Local National or State Park

Depending on where you live, you may be surprised to discover how many natural wonders reside just outside your front door! National parks offer visitors gorgeous views and unforgettable experiences. Otherwise, nearby state parks are just as beautiful and potentially less crowded than National Parks.

Go to the Zoo or an Aquarium

Visiting your local zoo or aquarium is a wonderful family activity. Children love to observe animals, while adults may find interest in the educational resources provided by the zoo or an aquarium. Learning about animal behavior is often fascinating for children and adults alike. Plus, many local zoos and aquariums offer discounts for certain individuals or visit during a weekday.

Spend a Night at a Nearby Hotel

Many families feel pressured to spend their vacation at an expensive five-star resort when there’s absolutely nothing wrong with renting a room at a nearby hotel. Many online resources can help you find the most affordable and family-oriented option. Most hotels offer at least one pool and hot tub for traveling families.

10. Spend Your Tax Refund Wisely

If you’re expecting a tax refund, it can feel tempting to spend it on something extra special. However, during economically challenging times, you may want to consider saving the money for something you need. The main thing to remember is to not spend your tax refund all at once and have a clear understanding of where it’s going.

For example, you could start an emergency fund with your extra income. This can help you pay for expensive fees resulting from unexpected events. Your tax refund could also help you pay off your debt. A tax refund is an excellent opportunity to start saving money for the future, whether it helps you pay for a vacation or retirement.

There are many ways you can use your tax refund. It merely depends on your personal needs, interests, and financial goals. If you’ve been in need of a home improvement project, your tax refund can help you pay for costs associated with the renovation.

Anyone who values philanthropy can donate your tax refund income to charity. If you have a child, consider saving your tax refund for their college education.

About the author

About the author

In 1995, Gerardo Campbell married into a blended family, becoming the stepdad to his wife’s two children. In 2011, he started Support for Stepfathers to reverse the nearly 70% divorce rate for blended families in the US. His website is to help and inspire stepfathers, aspiring stepfathers, and the women who love them. You can follow Support for Stepdads on Twitter and Facebook.

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