How to Cut Costs Without Sacrificing Family Fun

Family Fun, Financial Responsibility, Money Saving Tips | Friday, August 26th, 2016

Creating memories with your family is important. You want to connect with your family members through fun activities that everyone will enjoy, including trips to dream destinations, full-day adventures and long weekends of excitement. While it’s easy to splurge on your loved ones and justify the cost of making memories, you don’t want to break the bank. That being said, here is a guide that will help you budget your family fun:

Increase Your Income

If you don’t have a high-income career, you may need to supplement your earnings. Explore the option of a secondary job that doesn’t require a huge time commitment and has flexible hours. For example, as a part-time Uber driver, you are your own boss and can strategically work when you want. Even if you have a hectic schedule, there are peak times you can fit in that will make you the most money. For example, for any large events or sports games, hop into your car and become available for Uber rides. The volume of potential riders will be high and the rate will rise because of the extra demand.

There are many other freelance opportunities if you have a specific skillset you can market. You can work in direct sales for companies like Amway if you’re good at talking with people. Platforms like Elance also offer writing, data entry, customer connection and design jobs.

Reduce Your Expenses

To help save for your family fun, make sure to cut costs where you can. Reduce the amount of “fluff” and only spend money on the necessities. Groceries are one area where you can drastically reduce costs. Rather than purchase name-brand items, choose the generic brands. Oftentimes, companies don’t sell their products if there are small imperfections and those will be picked up by the generic brands. If your kids are turned off by the lack of a label, repackage the food. For example, store your cereal in a glass or plastic container rather than in its original box.

You also can reduce expenses on your clothing if you are resourceful in your shopping. Visit stores like Buffalo Exchange and Crossroads Trading Co. for name brand clothes that cost a fraction of the price.

Define Goals and Align Your Budget

Clearly define the goals of your family fun. Are you hoping to travel to a new destination? Is there a specific activity you want the whole family to participate in? Once you know what you want to get out of your family fun, you can direct your budget so you get the most out of your experience. If you’re traveling out of the state or country, most of your budget will go to airfare and hotels. If you want a family outing, your budget should focus on the cost of the activity. While it would be great to do it all, that may be unrealistic and cost you more than is necessary.

Don’t forget to account for sneaky costs in your budget. Souvenirs, toys and snacks are inflated in touristy areas, so plan ahead to avoid these temptations. Purchase snacks at a grocery store and clearly lay out expectations for your kids that they can only get one memorable toy or souvenir.

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