How to Trim Your Family's Budget

Tips for Families Surviving in Tough Economic Times

Feb 4, 2009 Venice Kichura

Time may be tough economically, but that's when tough families exercise their skills and common sense. Here are some tips for trimming the family budget.

Times may be hard economically and families who didn’t used to worry about money are now learning how to stretch a dollar. However, it’s not as difficult as it seems.

Saving by Trading

• Trade services – Just as years ago people saved money by bartering, start a coop in your neighborhood listing all your talents and skills. For example, if you can cut hair offer your services in exchange for a compatible service.
• Trade furniture - Tired of your old household furnishings but don’t have money for new furniture? If you overhear someone admire an old sofa and know you’d rather have their sofa then why not trade?
• Trade houses for vacations – Rather than spend money on motels, trade houses with someone in an area that you’d like to visit. At homeexchange.com vacationers are saving money on trips just by exchanging their houses.
• Trade houses – Because it’s hard to sell a home in a bad market, there’s even a web site for house trading.
• Carpool – Find others who live near you with the same hours and carpool, besides carpooling your children’s activities.

Saving Money on Food

• Eat in – By only eating out on special occasions you can save significantly. And when you do eat out, only patronize those restaurants on nights where kids can eat for free.
• Brown bag your lunch – Rather than buy cold cuts, save even more by saving leftovers for lunches. Most workplaces have microwaves where you can heat cold leftovers.
• Use coupons – Coupons equal money you don’t have to spend. Because groceries constitute one a family’s highest monthly bills, it is imperative to use coupons. Study online how Coupon Queens have saved thousands of dollars.

Do It Yourself

Whatever you can do yourself is money saved.

• Haul your garbage - Many areas homeowners pay as little as $1 to each bag of garbage, as opposed to a monthly service of about $35. They save additionally by dropping off plastics, cans and papers to recycling areas for free.
• Service vehicles - Learn how to service your vehicles. It’s not hard to learn how to change your own oil or do simple auto repairs.
• Make home repairs - Do simple home repairs rather than hire jobs done.
• Learn to cut hair - Save on family haircuts by learning how to cut hair.

Find Freebies

• Visit the library – Besides checking out books rather than buying them, check with your local library and see when free videos and CDs can be checked out.
• Let students practice on you - Because students are supervised by seasoned professionals, it’s not as scary as it sounds. Whether it’s a haircut or a dental procedure, get it done for free by going to a beauty school or dental school. If you pet needs neutering or shots, check out vet schools where students can do it for a discount or free.
• Join study groups – If you need to lose weight but don’t have the money for a weight loss program, investigate programs where you can serve in an experiment. Just be sure it’s a safe program by researching it before signing up.

Prepaid Cell Phones

Instead of everyone having their own cell phone, use only one cell phone, only in emergencies. By purchasing prepaid cell phone plans families can pay as little as $25 for three months of service.

At first these adjustments may seem impossible if your family is used to luxuries. However, in hard times families often grow closer by agreeing to work as a team, as well as learn to economize.

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