88 Best Ways to Save Money for the Family Budget / Guide

Don’t be fooled, saving money can be fun and offers so many opportunities for long-awaited wishes. Being it the dream family vacation, a new car, your own home, or sending your kid to the best university. We have collected a lot of useful tips to help families save money right away.

There are hundreds of ways to save money even if the family budget is very small. Way too often, at the end of the month, the family budget is helpless empty waiting for the next paycheck to refill it once again. For a better reading experience, we have divided the money saving tips into different categories.

How to cut expenses on the family budget

1. Create a Family Budget Planner (Household Book)

The first and most important step to save money is to know where you actually spend money. Once you are well aware of all the details, you can discuss with your spouse ways to cut the family budget for potential savings.

The best way to have an overview of your finances is to start a family budget planner on a weekly or monthly basis. Of course, it sounds quite tedious to write down every little detail, but it gives a great overview of income and expenses.

Download our FREE FAMILY BUDGET PLANNER here (excel)

2.Create a Cooking Plan

Create a weekly cooking plan which saves time and money. You always can adjust the plan according to groceries on sale

3. Cook with Pot Lid on

Cooking with a lid saves up to 30% on electricity cost. Besides, a good energy-efficient stove is a must.

4. Store Food Correctly

If food is not stored correctly, it will not last very long. Therefore, freeze any food leftovers right away and close very well all open ingredients sachets and food containers airtight.

5. Eat cheaper in Canteens

Many bigger department stores or district government offices have canteens that are open to the public. Eat there as it is much cheaper as eating out in restaurants.

6. Eat own cooked food at work

While working you can easily spend 5 – 10$ on your lunch. Simply, cook at home the evening before and bring it to your workplace the next day. Many companies offer a free fridge to store the food, and a microwave to heat it. A potential cost saving of over 1200 – 2400$ a year!

7. Create a vegetable / herb garden

Buying herbs and vegetables in the supermarket cost a lot of money. Especially herbs are very easy to take care of and do need only a little space. If you have a bigger garden, plant seasonal vegetables and do not forget to have also some fruit trees.

8. Get a Water Filter

Bottled water is very expensive and in fact just regular unfiltered spring water. Big companies make a fortune on bottled water. Get either a tap water filter or a water filter for the whole house

9. Do not drink coffee capsules and pads

They are very expensive and run at least 50 Cent a piece for one cup of coffee. Rather get a good filter coffee machine that uses coffee ground which cost only around 8$ per lbs.

10. Food-Sharing (Buy in Bulk)

Buying in bulk is always cheaper as buying smaller quantities. But, what to do if you the quantity of the packages are too big? Simple, talk to your friends or neighbors and share the food or toiletries products.

11. Get Printer Refill Cartridges

Original printer cartridges are killing you. Therefore, opt for good quality refill ink from third party manufacturers. A saving of up to 90%!

12. Replace bird sand

Cage sand for birds is incredibly expensive. An cheaper alternative is the quartz sand from your local hardware store

13. Divide the dishwasher tabs into half

Incredibly, also half the tab will do its job. It saves 50%

14. Selling old stuff

Everything that never has been used for over half a year can be sold without worries. It makes your home glutter free and provides extra income.

15. Make your own furniture

A scene has developed around the wooden pallet furniture building. Get a little bit creative and get inspiration on YouTube for more suggestions.

16. Invite Friends instead of going out

Having gatherings at your place is quite fun and everybody can give their share of food and drinks.

17. Be creative and make your own gifts

There are so many DIY crafting ideas out on the internet. Numerous instructions explain in fine detail of how to make certain things.

18. Save on hair cutting

Ask around if somebody has a talent to do your haircut. If nobody can do it, many hair salon employees do cut hair as a side-job.

19. Make Sour-Cream last twice as long

Store the unopened Sour-Cream upside down, it stays fresh twice as long

20. Eat less meat

Firstly, too much meat is not healthy for the human body. Secondly, meat consumption can add up being very costly. Rather, eat more vegetables and eat less meat.

21. Make your own fertilizer

Doing your own fertilizer is pretty straightforward and easy. Markedly, you go organic and help the environment

Money Saving Tips on SHOPPING

22. Go to Flea Markets

A flea market is a wonderful place to find very cheap stuff. Especially you can buy kid toys at a very inexpensive price as the seller’s kid might have outgrown already. Do the same once your kids do not use the toys anymore to earn some extra income.

23. Search on Classified Pages

Many local classified pages such as eBay Classified or Craigslist are also a great way to get bargains. As the price is not set, negotiate as there is no tomorrow. Many sellers are very happy to give a deep discount just to get rid of the items.

24. Bartering Portal Sites

Many people offering some items in exchange for another item they like to have. No money is exchanged, so it is a great way to look for something you need and give-away items that are collecting dust in your home.

25. Second-Hand Shops

Another great way to get clothing for cheap. Nowadays, very good clothes are thrown out as trends do change and people like to wear only the latest fashion. A potential saving of over 50% is possible.

26. Online Shopping Daily Deals

Many online shops or shopping sites do offer special daily deals. Check them out as many times some hidden gems are offered here. Read also our Cheap Online Shopping Guide

27. Never go grocery shopping when hungry

When being hungry you tend to buy more as necessary. Don’t do it! Eat before heading out to avoid this pitfall

28. Make a shopping list and obey it!

Once you have your shopping list, you can focus on the items you really need. In fact, over 50% of shopping is done on impulse.

29. Buy only Fruit / Vegetables in Season

Seasonal fruit/vegetables are much cheaper to buy as there is no need to import them from somewhere else. The shorter the traveling distance, the cheaper they are.

30. Check Grocery Deals

Many supermarkets do have weekly special offers such as Buy One Get One free or deep price cuts. Check online or via your local newspaper and buy in bulk.

31. Compare Prices & Deals

Do not rely only on one supermarket for your shopping. Many people do it because it is convenient, but do overpay a lot of money. Check and compare what the competitors of your favorite supermarket are offering. You will be surprised as prices can differ a lot.

32. Get Family Card Discounts

Be it at the public water park, attractions or cinema, many places do offer yearly family cards that bring a saving potential up to 40% compared to a regular ticket

33. Make us of Happy Hours

Not only bars and clubs do offer happy hours, but also butchers and bakeries sell at the end of the day their items for a discount.

34. Buy White Label Products

White Label products are cheaper as branded ones. Here a little secret: Many famous manufacturers do produce for big supermarket chains the white label products. Yes, you are buying a brand product without the label. As no advertising is involved, these products are bottom cheap.

35. Collect Coupons and use them

Coupons are a great way to save money in many ways. Always keep coupon you get for your next shopping spree

36. Pay only in Cash (Say good-bye to credit cards)

Using a credit or debit card makes you spend cash quicker. It is proven by numerous studies. Further, you do not have an overview of how much you have spent during the current billing period. Cash is easier to track and avoids more impulse buying.

37. Use Credit Card Cash Back / Points

OK, in the previous paragraph, we have mentioned not to use credit cards. However, if you are very sure that you can keep good track of your spending habits and have everything under control, use them for your benefit. Get a credit card with no fees attached that are offering cash-back or points on every purchase you do. Use the cash-back to save money, however, a FULL CREDIT CARD PAYMENT each month of purchases is a must. Do not fall into the trap and pay partially as interest charges will cost even more as the cash-back savings

Money Saving Tips: RENT INSTEAD OF BUYING

38. Public Library

Go to public libraries and rent books, movies, CDs, or games. It is cheaper as buying them and selling them afterward in used condition for little money

39. Borrow from Friends / Neighbors

There are some times, that you need a tool to fix this or that, but don’t have it. Instead of buying it just for once, borrow it from a friend or neighbor and return it in good shape after your little problem is fixed.

40. Rent a Car

Having a car cost a lot of money to maintain such as gasoline, taxes, insurances, and repairs. Simply, rent a car if the urge arises.

How to save money on utilities

41. Collect Rain Water

Get a big water container to collect rainwater when it is raining. If you have a garden, it is very suitable to water your plants from the collected water.

42. Shower instead of taking a bath

Having a short shower over taking a bath saves up to 300$ in water cost per year. Also, get a water-saving showerhead to further reduce the cost.

43. Toilet Flush

Most modern toilets do have an economy water flush. This is very helpful to reduce water consumption while flushing

44. Washing Machine/Dishwasher Saving Mode

If the laundry/dishes are just slightly dirty, use the Eco-mode (short program) instead of the full mode. It is often enough to clean throughout.

45. Forget about Laundry-Dryers

Dryers for laundry are energy eating monsters. Instead, hang the clothes outdoors to dry. Cost zero and works the same as a dryer.

46. Save on laundry

Never wash anything over 60 degrees as it is more than sufficient to even clean the most stubborn dirt

47. Use less laundry detergent

If the laundry is not that dirty, add less and it saves up to 50$ a year.

48. Buy Clothing that is laundry washable (avoid dry-cleaning)

When buying new clothes, never get any material that needs dry-cleaning. It cost a fortune and add up easily to more than a couple hundred bucks a year.

49. Save on Telephone Cost

Use Skype or whats-app instead of talking over the regular phone.

50. Get rid of Cable TV

Cable Television is incredibly expensive to have. A starting package runs from 30$ up to $100 a month. Get your favorite shows and series from Netflix for only $12 a month.

51. Throw out your TV and read a book

To skip TV for some time saves quite a lot of energy. Instead, read a book, play board games or meditate.

52. Unplug not used Electrical appliances

Even if they are not used, they still consume electricity as they are in standby mode.

53. Reduce heating cost

There are many ways to save money on heating costs. We have dedicated a complete post about this topic. Please feel free to read further: Save on heating cost

54. Get rid of old power guzzlers

Old appliances such as fridges, TV, or computer are very power-hungry and cost a lot of money. Replace them as soon as possible.

55. Use electric water heater

Do not boil your water on the stove as a kitchen water heater saves around 50% of electricity.

56. Switch over to use LED bulbs

LED bulbs only consume 5-10% of energy as a regular light bulb. The purchasing cost can be recovered after only a short time.

How to save for a vacation

57. Don’t just focus on one airport only

Check and compare prices from different departure airports. The more flexible you are, the more you can save on travel costs.

58. Do not travel during high season

In high season the prices literally jump up 50% or higher. Try to travel in the low season and enjoy a more peaceful surrounding with fewer tourists.

59. Avoid weekend getaways

The prices of flights and hotels are always more expensive during weekends than during the week. If you are flexible, you can also save a lot of money.

60. Book as early as possible

The earlier you book in advance, the chances of bargains are very high. Many airlines do calculate their prices based on occupancy rates. To demonstrate, the fuller the airplane is booked, the more expensive it will get to get a seat on this plane. Likewise, the same applies to hotels as well.

61. Check out Last Minute Deals

Many travel companies lure you with rock bottom prices on package deals. As they have already reserved all the accommodation well in advance, they do not like to pay for an empty seat or room. Therefore, travel companies are willing to give you a good deal for little money.

62. Compare Prices

Of course, you need to compare all tour company’s pricing as well as different hotels and airlines. Be patients and compare without rushing.

63. Book Home-stay instead of a Hotel

A very popular site is Airbnb where private people offer rooms, apartments, or even whole houses much cheaper as hotels do.

64. Prepare food for traveling

For longer trips by car, we highly recommend preparing some food beforehand. So far, we haven’t seen any affordable resting areas (pit stops) to eat or buy drinks.

Food and drinks in parks or zoos are incredibly inflated. Here, also prepare beforehand at home to save money.

65. Save on dog boarding

A dog sitter is much cheaper than bringing your dog to a boarding place. Another advantage is that the dog sitter checks your house and adjust your curtains/blinds twice daily. It gives the illusion that still somebody is at home.

66. Enjoy Nature

An inexpensive alternative to an amusement park are trips into nature. A lot of forests do offer adventure playground for the kids.

67. Take advantage of family days

Regularly, parks or museums have family days offering a lot of discounts. In addition, a lot of times the entrance fee is free or at a steep discount.

68. Take the train instead of a plane

The plane is usually convenient and faster, but also more expensive. Do not just focus on the plane ticket only, but also consider the cost of getting to and from the airport by taxi or public transportation. In addition, kids older than 2 years (age can differ from region to region) do have to pay the full airfare price like an adult. It is often much cheaper for a family to travel by train.

How to save money on gasoline

69. Compare gasoline station prices

Also, keep an eye on for the cheapest gasoline station near you. Some no brand stations offer savings of up to 5 cents/liter but require cash payment only.

70. Check tire pressure

In addition, driving with normal tire pressure, let your tire last at least 20-30% longer. As you know, replacing tires are not cheap.

In addition, a normal tire pressure also let your tire last at least 20-30% longer. As you know, replacing tires are not cheap. Another good option would be to get a tire pressure monitoring system to check to monitor the tires in real-time. Learn more about the TPMS Tire Pressure System

71. Do Carpooling

Does your colleague lives nearby, then carpool with him. Change weekly who drives to save cost on car maintenance and share the gasoline cost.

72. Sell your car and use public transportation

A car costs a lot of money to maintain. Instead of spending all the money in a car, use public transportation instead.

73. Economical driving style

Use your shift gear earlier and do not wait until the engine starts to hauls. Also, turn off the A/C as it saves you 2l/100km

74. Buy a smaller Eco-Car

Having a big SUV gas guzzler instead of a smaller Eco-Car is very cost-intensive. Everything, starting from the purchase price, gasoline usage, maintenance cost, taxes, to insurances is much more expensive as an Eco-Car.

Money Saving Tips on BABIES and KIDS

75. Change your tax class

In many countries, when you are married and have kids the government lowers the tax bracket. Make use of it!

76. Buy used instead of new

Newborn babies and kids quickly grow out of their clothes in a matter of months. Why not go to the flea market or second-hand shop to buy used, but good quality shoes and clothes.

77. Buy brand toys (better for resale)

Look out for brand toys only as they are much easier to sell as no-name toys. To also point out, brand-name toys have much better quality, are safer for the kids, and do last longer. A lot of times, no signs of wear and tear are visible making it a much better choice to resale later on.

78. Use the city library

In many parts of the world, city libraries do rent out kid toys and educational learning books. Take advantage of this offer as it is for free.

79. Cheap diapers via the Pampers benefit program

Please register for the Pampers benefit program. They regularly give away samples and discount coupons. Currently, Amazon and Pampers Diapers do have a partnership program that offers a lot of savings on a regular basis. Check it out!

80. Baby Sling instead of a stroller

Baby Slings are much cheaper as strollers. Another advantage of the Baby Sling is that the baby has always a skin to skin contact and falls asleep much easier.

81. Give Fruit pulp instead of fruit jars

The baby fruit jars are quite expensive and contain a lot of chemical-based food thickeners. A much healthier and cheaper choice is to make your own fruit pulp for the baby.

82. Use family discounts

Always be on the lookout for family discounts on admission and fares

83. Buy larger Medicine Boxes

Try to buy larges sizes of medicine as they are most of the time cheaper as smaller sizes. In addition, ask your pharmacist for generic drugs to save money.

How to save money on insurance

84. Get Glasses instead of Contact Lenses

A lot of health insurances do not pay the cost for contact lenses. Indeed, they are very expensive being paid out of your own pocket. Instead, get a good pair of glasses that last many years and your insurance will also help out.

85. Family Liability Insurance

Get a family liability insurance instead of individual ones. The family insurance package is always cheaper.

86. Change Health Insurance

The benefits of health insurance are quite similar, but the coverage cost can be quite different. Compare and if necessary change to a cheaper insurance company to save cost.

87. Use an Online-Bank

Online-banks have a much lower fee structure as regular big bank branches. They offer the same services, but for a cheaper fee. A lot of times even the checking account is free of charge.

88. Invest only via EFT

Many banks or financial advisers try to lure you into mutual funds just for their benefit of charging extremely high fees. On the other hand, EFT’s are very low cost and might have a higher return rate.