6 Surprisingly Simple & Effective Budgeting Tips For Big Families:

As a mum, you’re probably aware of the challenges and difficulties that come with budgeting. And if you’re also raising a big family, then these challenges tend to be even more intense. Trying to ensure all the basic necessities for all of your kids requires a lot of careful planning, which is why it’s essential to adopt certain budgeting tips that will be easy to follow. Therefore, if you’re a mum of many, then here are some effective and simple tips and suggestions that will help you save money and budget with ease.

1. Shop in bulk

When you have a lot of children to take care of, it’s important to buy in sufficient quantities. Whether it’s food, school supplies or laundry detergent, you simply have to have enough for all of them - including you and your spouse. That’s why shopping in bulk is such a smart idea: it allows you to buy quite a lot, while also saving money in the process. Many supermarket chains have sales ads and allow for coupons. Be sure to follow those ads, so you’ll be able to buy everything you need.

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2. Have a budget and stick to it

Creating a budget is one of the most financially responsible things that you could do. The budget timeframe should depend on your income and your needs. You may create a weekly or monthly budget, as long as you stick to it. Knowing what money is going in, and what money is going out will give you a clear overview of your spending habits. Budgeting will also help you find time to take care of your finances, and thus, be more financially responsible.

3. Be frugal whenever that’s necessary

Frugality can be of great help if you’re trying to save money in order to feed your family. Raising a big family is often expensive, which is why it’s crucial to be frugal. For example, eating at home rather than going out can save you quite a lot, especially when it comes to big families. Now that doesn’t mean you’re not allowed to treat yourself (and your little ones), but be sure to do that only when you cover all the important costs. Also, if you decide to be more frugal, be sure to teach your kids about finances, so they’ll know there’s a reason for it. Raising your children to be responsible adults should be your priority regardless of whether you have a big family or you’re raising an only child.

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4. Get some extra help in form of a loan

You might believe that owing money is akin to financial suicide, especially when strapped for cash, but in reality, budget and personal loans often go hand in hand. Why? Well, providing for your children and your household requires a lot of financial responsibility. Putting food on the table, paying rent, buying school supplies, or a car repair are all costly and the expenses can quickly add up! This is why getting personal loans with a fast payout can be very helpful. Besides, getting a loan is a great way to kickstart budgeting, especially if you haven’t done that before.

When you have monthly personal loan payments, you have to find a way to meet deadlines and be financially responsible. In that case, budgeting will help you maintain all your financial obligations.

5. Feel free to buy second-hand items

A big family requires big solutions, especially if the kids are small. This is why buying second-hand items such as clothes, school bags and gadgets are important: it allows you to save money on more important things such as rent, utilities and food. There’s nothing shameful about buying your kids a second-hand laptop or a tablet, and teaching them how to share. If your kids disagree, then feel free to tell them no, as that will teach them the importance of saving, sharing and being financially responsible.

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6. Find some ways to earn extra money

If you need money and your current earnings aren’t enough, then earning some extra money is something you should seriously consider. If you’re already working two jobs, then be sure to think things through before you get the third one, unless it is something that allows you to work from home. However, you may also consider investing money as that is a great way to earn more in the future.

In conclusion

Your kids deserve to have a good life, and you as a parent should provide them with everything. This is why budgeting, smart shopping and financial responsibility play a huge role, together with personal loans, investing and being frugal whenever that necessary. A big family means happiness, comfort and loyalty, but in order to achieve that, it’s important to budget, so everyone will be happy, comfortable and taken care of.

By Lana Hawkins