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Published on March 15th, 2014 | by Pete

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How to Save Money with a Family to Look After

Having a family is expensive. It is hard enough saving on your own, but with a family you have many more responsibilities. You need to keep clothes on their backs, food in their mouths and a roof over their heads, while still being able to afford things like utility bills and transport.

Here are some of the best ways to put money aside while giving your family everything they deserve:

Exploit the Sales

Getting the most for your money is the best way to save. Why spend £50 on a new coat for your child when you can wait for the sales and get the same coat for a fraction of the price? Make a plan for what you are going to buy and go to the sale with a target in mind, otherwise you may end up spending more money on things you don’t need. By learning how to work a sale, you can save a small bundle on things you need to buy.

Shop Online

Online shops have much lower overheads and often pass on these savings to the customers. On average you can save around 10% of the store price by finding the same item online. One of the biggest ways to save is by doing your weekly grocery shopping online – this way you aren’t distracted by on the shelf offers and other tempting goodies.

Find Cheaper Deals

Gas and electricity is something that you simply can’t avoid. Luckily though, a quick internet search can turn up some brilliant deals to help save you money. Find out which suppliers offer fixed rates as this lets you budget for the expense every month. A five minute phone call to your current suppliers can lower your current tariff and put you on the perfect plan for your needs.

Put Away the Excess

If you do have money left over at the end of the month then put it away in a savings account. This will stop you from spending it accidentally and can build up a substantial sum of money over a long period. This is a great way to develop your savings without infringing on the way you’re currently living.

Little and Often

Putting away a small amount of money as often as you can is a great way to build up your savings account. Something as little as £1 a day will return £365 a year and with an amount that small you’re very unlikely to notice it leaving. Up this amount to £3 a day and you’ll have £1,095 by the end of the year; enough for a holiday abroad!

Use Common Sense

Don’t buy things that you don’t absolutely need to have. Shop around for better deals and try to haggle wherever you can. This may seem difficult to start with but once you get into the habit of it, it should become second nature. By simply thinking about what you’re spending money on, you can save a small fortune – for example does your 3 year old really need a pair of £90 Uggs that they will have outgrown in a month? No. Shop smart and save money wherever you can and you’ll find that your savings accounts will be bulging in no time.

About the Author – Lend UK is a responsible provider of instalment loans, helping families to pay for expenses they haven’t predicted and providing low, manageable repayments. For more information on how Lend can help, visit them online today.


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