70% of Americans who have a budget struggle to stick to it, though the reasons why budgeting is challenging vary from family to family. Having extra money set aside may not be the most realistic option for every family, especially for busy moms. However, when it comes to saving money for family trips and travel, stretching that budget as much as possible may become necessary. Luckily, this can be easily achieved with a few smart and simple tricks.
Keeping track of what you’re spending can not only help you understand where the money is going but can reduce your stress by allowing you to see if any changes can be made. This includes any monthly subscriptions and household utilities. In truth, there are many changes you can make to get the most out of your money, such as trading in your television provider for much cheaper streaming alternatives or canceling a service completely if you don’t use it. Changing your energy service provider can also make a big difference in your electricity bill, as there may be cheaper alternatives out there worth looking into. For example, Provision Power & Gas recommends simple plans and has competitive pricing that could help greatly in minimizing energy spendings each month.
Make the most of every grocery run
After you analyze your monthly expenses and make some substitutions, one bill that’s sure to account for a big chunk of your family spendings is the grocery bill. Luckily, there are a few ways you can make the most out of every trip to the grocery store. In addition to clipping coupons and shopping the sales ads, buying lesser-known brands can also help you stretch your budget.
For example, buying the store brand is always a great option, as it’s often cheaper and has the same quality as the leading name brand. In fact, store-branded items are estimated to cost about 25% less than leading brands. What you buy also has a great impact on your budget as well, like meat, which tends to be on the more expensive side. So, instead of buying ribs, steaks, or salmon for each day of the week, consider having a couple of meat-free days and choose to eat other protein-filled options, such as beans or tofu.
No more dining out
If you want to save money, one of the simplest things you can do is cut out restaurants, takeout, and any other form of eating out. While it’s often quicker and easier (especially when you have a busy lifestyle) than making a whole dinner from scratch, eating out can add up very quickly and destroy any budget you might have in the process. In fact, the average American household spends about $3,008 on dining out annually.
Therefore, avoiding dining out regularly can put an end to the overpriced meal deals. One of the best ways to cut eating out from the equation is to eat at home before you go out or bring snacks from home along for the ride. And, if you find yourself in need of a quick meal, meal prep is a great solution that only takes up a day or two out of your week and can save you money in the long run by buying in bulk.
As a mom, managing the household budget can be tough, especially if you want to save money for a fun family vacation or travel. However, by making smart substitutions and taking the time to analyze your budget, you can save more money than you ever thought possible.