How to Raise a Family of Six with One Income – 50 Ways to Save Money
Today it is very hard to raise a family off of two incomes, much less one. This is intended for those people who need a little help in ways to make ends meet. Below is a list of things you can do to help you make the most of your situation, whether you are a single parent, a two parent family with one staying home with the children, or you are in a situation where one of the parents just got laid off. This list will make an incredible difference in the amount of money you spend and the amount of money you get to keep for your family. Lets begin.
1. No More Debt
The first thing you need to do is to not put yourself any further in debt than you already are. Debt can be a wonderful thing if you are in need of a house for your family, but if you already have a house then dont borrow anything else. Not even for a new car. New cars are not necessary. They depreciate in value as soon as you drive them off the lot. A good used car will fit your familys needs just as well. Take all your credit cards and cut them into shreds. Lots of credit cards today carry an interest rate of 21% or more, depending on whether you have made any late payments or not. Start paying all your credit card debt down and never pick up another one again. Its very easy to sign your name to a debt and it takes a lifetime to erase it from that same debt. Read more on Tips on Using Credit Cards Wisely.
2. Saving on Medicines
When you go to the doctor and need a prescription filled then always ask if they have a generic for the prescription. Generic drugs can cost half the price of name brands. This will save your family big time.
3. Grocery Stores
When you go grocery shopping, always buy the store brand products instead of the name brands. Lots of store brands are made by the name brand makers and just have a store label on them. This will allow you to buy your family more of the foods they love.
4. Grocery Shopping
Never go grocery shopping if you or any of your family members are hungry. This will cause you to buy more groceries than normal.
5. Grocery List
Always make a grocery list before leaving for the store. Never buy anything that isnt on your list. Calculate what your groceries are going to cost you before you go and buy them. If your cost runs over the amount you can afford, then delete some of the unnecessary items on your list.
6. Kids Clothes
When it comes to your childrens clothing, hand-me-downs are a good thing. This will save you hundreds of dollars in the long run. If one of your children grows out of something and your smaller child will be able to wear it in the future, then put it in a plastic trash bag and label it with your smaller childs name and the date. Place it in your building, storage facility, or closet. Later you can go back and see if those same clothes fit your child.
7. Yard Sales
Go to yard sales. You can find slightly used and sometimes new clothing at yard sales. Lots of times they only cost a dollar or two. This can save you all kinds of money.
8. Free Kids’ Health Insurance
If your children need health or dental insurance, it is provided by the state if your income doesnt exceed the income limit. Your local social service department provides the forms available to apply for this insurance. It pays all doctor and dental bills for your children. This can be very helpful, especially if you have a very sickly child in your family.
9. Free Vaccinations
Your local health department will give your children all their vaccinations for free. All you have to do is make an appointment and take their immunization records along. The health department also has a department that helps you provide formula, baby cereal, and juice to your baby or milk, cereal, grits, eggs, cheese, juice, dry beans, and peanut butter to your other children.
10. Free Health Insurance for Babies
If you are pregnant, you may qualify for free health insurance for you and your baby also at your local social service department. All you have to do is take a paper to prove your pregnant with the due date of your child wrote on it from your doctor to the social service department. There they will go over your total income to see if you and your child qualify. If you dont have a doctor yet, you can get a pregnancy test done at the health department for around ten or fifteen dollars. There they will determine your due date and give you the proof slips you need to apply.
Next – More Ways to Save
