Family and Parenting: Information For Families

Tightening the belt lately? A lot of families are these days. It’s no surprise to a lot of people that the time has come to put the credit cards away and begin trying to pay on them instead of spending more with them. The frugal family is being smart and doing the right thing in this tough economy.

It may be different, but putting back a few dollars towards savings, and controlling your families spending will pay off when you realize you’ve become ahead of the game instead of dragging behind it.

A few simple tips can make a huge difference when it comes to thrifty living and simple savings. Begin paying cash for your gas purchases. Even if it means stopping weekly at an ATM before hitting up the local gas station, that two minute trip to the ATM could save you hundreds by the end of the year. When you pay for gas with a debit/credit card you automatically get charged an extra .10-.20 cents on every gallon. That’s up to $4.00 for every twenty gallons. Be prepared and keep a little cash on-hand. To make the gas last longer, keep your tire pressure accurate.

Drop the take-out. When you look at the added cost of eating out and average it with the cost of groceries you’ll see the lost cause of restaurants. It may be convenient having someone serve you, but you are certainly paying for the gratuity and the service. You can save money and get the same quality family time around the dinner table. Plan your meals in advance and buy in bulk for easy freezing and storing. Buy frozen and non-perishables while on sale and store for later meals.

Talk to your boss about a FSA. A flexible spending account is available through most employers and if yu have a family it can save you hundreds, even thousands of pre-tax dollars on health care every year. It just makes sense. The government is offering this plan to help people on health care costs and it is one of the best plans yet. Using a FSA can save you from paying any taxes on any medical expenses that you pay using the FSA. Plus you get up-front access to the full account balance at the beginning of each year. It pays to be frugal.