saving money - Dad of Divas

Create A Second Income & Save!

March 30, 2021 by dadofdivas Leave a Comment

When you are dealing with debt and a squeeze around your income, you immediately begin to search for other options that make sense for your finances. One of these options for some people is to get a second income stream set up and ready to go. The trouble comes when it gets to choosing what to do as a second income: where do you even begin?

The thing is, it’s not all that hard to choose something to do and create an income stream out of it. Whether you are able to spend time driving and you are searching for a truck load to bid on for delivery, or you choose to go door to door delivering leaflets, it’s not hard to find a job that fits in with what you want to do in life. You can add some income to your bank account every month around your job, and you will see the benefit pretty quickly! With this in mind, here are a few ways you can create that second income with ease.

Photo by Dziana Hasanbekava from Pexels

Invest. Whether you invest in stocks, shares, houses or gold, investing your money is a clever way to ensure that you get exactly what you want for your income. Take the time to speak to a financial advisor and get yourself educated on how investments work. You may even be told to go ahead and invest in Monthly Income Plans, which is great as an option if you don’t have the time to pursue something in which you’re interested. There are plenty of options out there and it’s a scheme that invests in equities, offering a regular income.
Consult. What are you good at? If you know you have knowledge that stands out in a particular field, you can take that knowledge and run with it by offering your services as a consultant. You can sell your advice and services both online and offline, helping other people and small businesses to solve their biggest problems. Developing and managing your website, referring students to a particular institute – you can outsource pretty much any skill if you know where to look!
Ecommerce. You can sell any old items and things that you create online on e-commerce sites and earn a crust that way. You can manage this around your current job in the evenings and still manage to enjoy a good income! You should consider what you’re selling and how others will benefit from it and then you’ll have a good option to add a second income securely.
Tutor. Similarly to consulting, you should consider becoming a tutor. You will be able to provide unbeatable knowledge either privately or via a school or college and earn a small income at the same time. You can enhance your knowledge and add to your income at the same time. You may have an excellent knowledge in a specific subject, and if you do, you can sell that knowledge to help others. No matter what you do, creating a second income allows you more stability with your income.

Family Finance: How To Cope In Difficult Times

March 24, 2020 by dadofdivas Leave a Comment

Family life isn’t all rainbows and butterflies. It’s hard. Sometimes, it’s extremely hard. Of course, it’s also very rewarding – raising a family is probably the best thing that you will ever do. However, that doesn’t mean that managing is always easy – there are times throughout family life when it can seem a lot harder than during other periods. It’s important to know – that is entirely normal.

Life has this way of throwing curveballs at us when we least expect it, doesn’t it? Sometimes, all it can take is one ‘curveball’ and it can feel like everything is falling apart. Knowing how to manage when this happens can seem tricky. However, there’s always a solution – it’s just a case of finding it, that’s all.

If you and your family are struggling financially, it can feel like the end of the world. It’s extremely stressful when things don’t go right with your finances, but the fact is that you can remedy the problem, and you can learn to cope with the situation at hand. It’s just a case of learning what steps you need to take and how you can become more creative with your approach to finance.

Photo source: Pixabay

For everything that you should know about making your money spread a little further during turbulent times, have a read of the tips and ideas below!

Learn to cook more economically

A great way to cut your family’s spending costs is to get creative when it comes to how you cook. The fact is that often, the cost of family shopping can be extremely expensive, which is where a lot of your monthly income can end up going – on pricey food. However, the good news is that when it comes to your monthly income, it is possible to reduce the amount that you are spending on cooking. It’s just a case of learning to cook in a more economic way.

This means thinking about how you are cooking; and being mindful of what is going into each meal. There are plenty of budget-friendly recipes that you can opt to take advantage of – many of which are free and available online. You can also find a number of budget-friendly recipe Facebook groups to join, where people share daily ideas for keeping cooking cost-effective.

A great hack for cutting costs is to go part vegetarian; cooking with vegetables instead of meat will significantly help to cut your cooking costs. Aim to cook at least three vegetarian meal a week, to help reduce your weekly shopping costs.

Take advantage of budgeting apps

When it comes to budgeting, learning how to start budgeting isn’t always an easy task. There’s a lot that you need to take into account and a lot that you need to consider; which is what can make budgeting a little complex when you first start out.

However, the good news is that there are plenty of budgeting apps on hand to help make the process of learning to budget, a little easier and less stressful. These apps are designed to make the process of only spending what you really need to, far simpler and easier. All you need to do is input your income and outgoings and you can workout what you have spare each month to use for food shopping and other necessities.

There are a number of different budgeting apps to choose from, each of which offers a range of features – it may take a while to find the budgeting app that works best for you but it’s worth taking the time to do so. Some of the most popular budgeting apps include Bean and Dashboard – however there are plenty of others to choose from too.

Utilize voucher codes

A great way to cut costs when it comes to your family spending is to take advantage of voucher apps and websites, such as NetVoucherCodes.co.uk, for example. Here you can find a wide range of deals and discounts that should help to cut your family spending costs and keep prices low, to help make your money spread that little bit further.

A great routine to get into is, whenever you need to replace an item, such as your mop or broom, for instance, instead of going out and buying one right away, take the time to source the cheapest option, without compromising on quality, of course. Voucher code websites and apps can help to make this process easier; ensuring that whenever you buy anything, you’re getting it for the best price possible.

Just make sure that before you purchase an item that’s discounted, that you read the reviews of that item. This is important for ensuring that the item you are buying is of a good quality, and won’t be a purchase that you will live to regret.

Photo from Pixabay

Don’t be afraid to buy pre-loved

There’s often a stigma around buying pre-loved items, however there really shouldn’t be. Whether you’re in need of new household furniture or your children’s wardrobes need updating, opting to buy second-hand can be a great way to pay a quarter of the price you would need to pay brand new.

By choosing to buy second-hand, you can save yourself a lot of money, and ensure that you aren’t overspending or leaving your family short of funds for other things. Wherever you can cut costs and save money, you should do. Don’t be embarrassed to buy second-hand, it’s not only a great way to cut costs but also a good step to take to help lead a more environmental life.

There are lots of places that you can buy second-hand items from, from eBay to Facebook MarketPlace, as well as within various Facebook selling groups. Just make sure that before you buy anything, you are able to see it and inspect it, to make sure that you aren’t being ripped off.

Adopt a ‘make do and mend’ approach wherever possible

We live in a world where, far too often, if something is damaged we simply throw it away and fail to replace it. However, if you want to cut costs and reduce waste, then learning how to make do and mend old items that are failing to work properly anymore is vital.

When it comes to fixing household items – whether it’s your washing machine or a broken chair – there are plenty of tutorials on YouTube and other sites that guide you through the process of fixing various items.

You could even get your kids involved in the fixing process, teaching them a number of key skills for later life.

Source extra income opportunities

It’s also a good idea to consider looking out for extra income opportunities; as by adding to your income, you can help to ensure that your finances are able to stretch a little further each month. There are lots of ways that you can earn an extra income from home, it’s just a case of working out what would work best for you.

You could opt to do some freelance work in your sector or choice, or you could consider doing something a little bit different. There’s also the option of completing online surveys for cash payouts. There are a wide number of options to consider.

There you have it, a few useful tips for how you can make coping in difficult financial times a little easier and less stressful. Getting used to being careful with money isn’t always an easy task, but once you’ve adapted to the changes, it can make life far simpler and easier.

Saving Here and There Can Add Up

December 11, 2019 by dadofdivas Leave a Comment

You get up each day to earn a paycheck because it makes living much easier. Many Americans live paycheck to paycheck. What’s even worse is that only a handful are saving for a rainy day. Saving money doesn’t have to be depressing. Learn some ways in which you can have fun keeping money in your pocket.

The Responsibilities of Being a Parent

As a parent, you have a lot on your plate. You are the role model in your children’s lives. Your responsible for paying all the bills and trying your best to make sure your kids are well dressed for school. How responsible you are with your money will have an influence on your children. Often you should have conversations with your children about your credit. Not only that but provide proof.

Having good credit and making money go hand and hand. Sometimes people with poor credit can not get certain jobs due to poor credit. And it makes it difficult for the individual in debt to pay off his debts and sustain his current living. It sounds silly but when your credit is ruined, the ability to save money becomes more of a challenge. For this reason, parents need to sit down with their children and prepare them for the real world. Saving money is wise and you should make it apart of your lifestyle.

Saving For Needs and Wants

When saving your income you should have a goal in mind. You should put funds aside for everyday household items you need. Some of these items could be cleaning supplies, food, toiletry, and hair care products. Saving 7% of each paycheck to go towards everyday household items will ease your mind. You should save another 7% from each payday for eating out, going shopping for clothes, and family vacations every year or two.

The percentage you choose to save is entirely up to you. However, the illustration above will help guide you. You could also take advantage of coupons and discounts. Sometimes working as an employee for certain companies qualifies you to shop and receive discounts. A good example is Cabelas employee discounts. When you are a Cabela’s team member, your customers trust your recommendations. That’s why top consumer hunting and fishing brands want to reward retail experts like you with insider access and discounts up to 60% off. You can share your buying advice with others.

It’s a great idea to be specific when saving for family vacations. Do your research and find different family resort locations that might fit your overall budget. From there you could narrow your pick down to choosing one. Never put too much pressure on yourself as a parent. And remember spending money is not the only way to have fun. Sometimes throwing a family cookout and letting your kids invite three of their friends is enough.

Keeping Money In Your Pocket

Keeping money in your pocket relieves tension. It makes you feel like you can handle being a responsible adult. You are ready for unexpected expenses such as a car repair or a dental procedure. One thing that is important to remember is parents should never be content with all of their income coming from a nine to five job. You can make plans with the income you are saving, but if your job gets rid of you, change of plans.

You now have to survive off of all of the money you were saving. Never get comfortable and always challenge yourself to pick up a side hustle. You could start a cleaning business, make money as a YouTuber, start a catering business, or get paid to help the elderly. In regards to your children, parents should also see them as a profitable investment instead of an expense.

Groom your children to be entrepreneurs. If your side hustle is a carpet cleaning business, take your children with you sometimes to train them in the field. Train your kids to be skilled landscapers. Your responsibility as a parent is to show them how to survive in a competitive world if no one would hire them. You are not fully in control until you are financially independent.

The Life of an Adult

As an adult with children, you have a financial obligation to your family. That obligation is everything you have read above. By learning the ins and outs of life, your entire family will thank you later.

4 Smart Ways to Finance Your Travel Plans

August 25, 2019 by dadofdivas Leave a Comment

Is your wallet restricting your wanderlust? You certainly aren’t alone. Most of us end up setting travel plans aside because we haven’t saved enough. And while saving for travel should definitely be your priority, there are times when sudden or unexpected trips are simply unavoidable.

So what can you do when you have to travel, but don’t have the money for it? Should you take a travel loan or personal line of credit for travel? Are there any other options available, and which is the best one? We’ll answer all these questions for you!

Here are four instant funding options you should explore:

Personal Loan for Travel – Smart travelers often choose this option when they have to travel unexpectedly. Rather than taking money out of your emergency savings or high-yield investment portfolio, using a holiday loan, personal loan or personal line of credit to fund travel expenses helps you keep your finances on track. Of course, you need to make sure you can repay the loan on time, so make room for the EMIs in your monthly budget!
Travel Credit Cards – You could opt for a travel credit card, or use a credit card with an option for converting expenses into EMIs for travel funding. Credit cards allow you anywhere from 20 days to almost two months for repayments, interest-free. If you can convert spends to EMIs, you get even more time for repayment. Travel credit cards, on the other hand, are set up specifically for travel-related expenses, so they may be more competitive than regular credit cards.
Payday Loans – A payday loan is very similar to a personal loan, except that the interest rate is higher, with a shorter repayment period. Payday loans may be approved faster than travel loans and personal loans, so these can be a good option when you need funds urgently. However, you need to make sure you can repay the loan amount quickly, since the tenure for these short-term loans is generally between 3 months to a year.
Travel Operator Financing – Many travel operators partner with banks and NBFCs to offer financing schemes, where you can pay for tickets, stay, meals, sightseeing and other planned or unplanned travel expenses after your trip. Interest rates for these schemes are comparable to rates for personal loans, and repayment may be spread out over 1-5 years. There is typically an upper limit for how much these schemes will cover, though, so keep that in mind.

Remember, dipping into your savings or investments should be your last resort, unless you have set aside a separate fund just for travel. Even if you have saved enough, learn how to travel on a budget. And when you need to make last-minute plans, such as attending a wedding in the family or traveling for medical treatment, take some time to compare prices and select a loan option that really works for you!

4 Tips for Getting in Shape on a Budget

July 28, 2019 by dadofdivas Leave a Comment

Whether you’re trying to lose weight, get bigger biceps or train for a 5k run, you’ve probably realized that the cost of getting in shape can quickly add up. From pricey gym memberships to workout wear that can cost just as much as a pair of designer shoes, you might be wondering if it’s even possible to find a way to get fit on a budget. The good news is that there are plenty of things that you can do to cut the cost of working out, stay healthy and get fit. Here are some effective tips for improving your fitness on a budget.

#1. Get Outdoors:

One of the cheapest ways to get fit is to take advantage of the great outdoors and avoid the pricey gym memberships. Walking and running outdoors is absolutely free and a great way to stay in shape, particularly if you are training for a run or other cardio-based event and want to get more cardiovascular exercise in. Cycling, running up and down stairs, and even chopping wood are some other great ideas for working out outside that you might want to consider.

#2. Invest in Equipment:

If you plan to work out with weights more, then investing in your own equipment rather than paying for a monthly gym membership can be a cheaper option over the long run. Plus, it allows you to be able to work out effectively at home or even in your garden, rather than needing to head out to the gym – leaving you with fewer excuses to skip workouts. Lifting weights at home can take the pressure off if you work out in the morning, or if you prefer later workouts there’s no need to leave the house again after you get back from work.

#3. Use the Internet:

When it comes to getting fitness resources, the internet is a great place to look – and it’s completely free! Whether you are looking for new workout ideas, advice for working out correctly or nutritional advice and recipes that will help support your exercise with a healthy diet, you can find a massive amount of freely available information online to take advantage of.

#4. Look for Deals:

If you find that being a member of a gym is what you need to motivate yourself to work out and keep going, then the good news is that joining a gym doesn’t have to cost the earth. Affordable options such as Chuze Fitness allow you to find a gym that fits easily within your budget, allowing you to work out for just a few dollars a month and take advantage of a wide range of equipment options. Avoid joining more extravagant health and fitness clubs; all you need is the basic, necessary equipment. And, check out seasonal deals in January or the beginning of summer, which are popular times for gyms to offer discounts to new members. Finally, don’t think that you have to invest loads in workout gear – cheaper options are usually just as good.

Did you find these tips useful? We’d love to hear all about your budget fitness journey in the comments.

4 Super Ways to Earn More Money for Your Family

February 12, 2019 by dadofdivas Leave a Comment

As a busy dad you are always trying to find time to make your family life even more wonderful. Earning more money for your little ones will always be high on your priority list, because they mean the world to you. When it comes to spending time with the kids you always try and make everything full of fun, but it’s not always going to be a smooth ride. If you have been undergoing money troubles recently it can be quite a difficult burden to carry on your shoulders, simply because you’re ‘supposed’ to be the breadwinner. If you have found yourself in a little slump recently then consider some of the following ideas to earn more money for your family.

Get Qualified

If you want to earn more money in your day to day job, then you might want to consider enhancing your skills and learning more. You can take courses online these days, so it will cause little disruption to your day to day life. A Masters in operations management online degree would open up so many doors for you as it gives you the opportunity to develop the expertise, strong leadership skills and ability to link people and workflow processes. With these skills you could progress into a higher role and start earning more money right away.

Work Hard Now, Rest Later

Now is the perfect time to work as hard as you can so that you can enjoy time with your kids when they get older. You don’t want to be working steadily all your life, so it’s time to put the hustle in. Say yes to overtime and extra hours, the extra money will go a long way.

Sell Your Old Stuff

You probably have a tonne of old, unwanted belongings lying around your home gathering dust. If you could have a good old clear out in your home, you will soon be able to make some good money. Whether you’re selling books, electronic gadgets or clothing, there will always be someone out there who finds your trash their treasure.

Start a Side Hustle

If you can start a blog or small business on the side, this is bound to bring in some extra money for your family. Hone in on your ideas and use your skills to your advantages and you might just be able to make a whole other income in addition to your current job role. Doing something you really love won’t even feel like work and you will feel more financially stable than ever.

If you can take all of this advice on board, you will be destined for success and happiness. Putting your family first is a noble thing for you to do, as long as you are truly happy yourself. Start pursuing something that makes you excited to wake up in the morning and you will never feel like you’re working for a day in your life. It’s time to take a step forward and secure a financially stable future for your fantastic family.

Saving Money on Gas at Kroger While Working on my Dental Health

January 18, 2019 by dadofdivas Leave a Comment

One of the things that I love about shopping at Kroger is the fact that you can save money on gas when you purchase items there. You can get points for regular purchases but there are special periods of time where you can get even more points for the money that you’re spending.

Right now is that time when it comes to Crest. Between now and January 22nd you can get five times the points when you purchase Crest items. This is an amazing add-on and it can really impact your overall wallet when it comes to filling up at the Kroger gas tank.

Gas prices can be expensive at times so being able to have $0.30 off $0.60 off even a dollar off can really make a difference.

So what better time to get your dental routine back in gear. It’s a new year and you have the opportunity to also save a ton of money with these great deals.

There is never been a better time to stock up on a crest so I encourage you to grab some today.

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Dads in debt – what to do when money becomes a terror

November 1, 2018 by dadofdivas Leave a Comment

Dads have a lot on their plate. Managing household finances is perhaps one of the most challenging. It can be very easy to fall into debt, especially if you are providing necessities for your family and your income is not enough to cover your basic living expenses. If debt is becoming an issue, the important thing to remember is that there are solutions. Some may be harder than others, but there are going to be ways to escape your financial difficulties. Looking at your options and the best ways of responding to debt responsibly and productively is the best way to overcome debt issues. It may even help lead you into a more secure financial future for you and your family.

Accepting the reality of debt

Money struggles usually become much more drastic if you simply decide to ignore the issue. By refusing to admit the problem, you will inevitably compound it. It’s essential that you recognize your debt problems as soon as possible. Look at your finances, and if the debts are rising, then the faster that you address the problem, the better. Plus, the quicker that you can take steps to manage your debts, the more options you have. Sticking your head in the sand is not going to help you or your family. If you find that you are unable to pay your bills, the demand letters are piling up, or you consistently overspend on your credit card just to buy the necessities, then it’s time to recognize that you have a debt problem.

Don’t panic

It’s easy to become stressed when financial matters are not going smoothly, and panic is a common emotion to feel when the bills keep coming. The fact is that there are many ways to tackle the issue of debt. You could look at short-term loans that will help stretch out your finances until payday, although this can be a dangerous pattern to fall into. Instead, it may be worth looking at ways to proactively manage what you owe. If you owe money to a variety of people and companies, then it’s worth taking the time to learn about debt settlement. This can be a useful way of tackling what you owe without putting a strain on the finances that you use to raise your family. Debt settlement options will be dependant on the amount of money that you owe, and the more that you understand how they work, the better placed you’ll be to understand the benefits.

Live wisely

Every dad will want to spoil their children with the latest toys, games, or fashion items. The simple truth is that you may not be able to afford them. Many fathers feel that being unable to treat their children is a flaw, but debt is not an embarrassment. There are too many victims of debt in the modern age for that to be the case, and an overspending lifestyle is fast becoming a necessity rather than a luxury. It’s vital that you find ways to live within your means, and to avoid those costly and extravagant purchases.

Talking to your children about money matters is always a good idea. Children can be remarkably supportive if you explain that they cannot have that latest purchase. Promote and encourage the concept of saving within your children, and they will learn to have a greater understanding of money. Don’t blame yourself for debt. It happens to the best of us. Learning how to deal with it is the mark of a responsible outlook.

Learn from debt mistakes

Sometimes we get into debt because of our own mistakes. That’s fine, as long as you learn from those mistakes. Consistent and unnecessary overspending is one of the main reasons for getting into debt, and learning from that will prevent you from repeating the same mistake in the future. If you’re in debt because of the high cost of living and the low rates of pay, then it’s time to start living more frugally. Living within your means is often a challenge in itself, but the more that you control and manage your spending habits, the greater control you’ll have over your bank balance. If you have debts mounting up, then look for ways to pay them back, but be practical. The ‘robbing Peter to pay Paul’ strategy is rarely productive.

Dads are just as prone to money mistakes as anyone else. The pressures of parenthood combined with the pressures of debt can be the cause of sleepless nights and excessive worry. It’s always going to be better to tackle the problem face on, and the quicker that you recognize the issues and look for solutions, the faster that your life will become debt-free.

Reaching Big Financial Goals: How to Stay Motivated, How to Get There

August 15, 2018 by dadofdivas Leave a Comment

Saving is an activity everyone should practice regardless of their financial situation and lifestyle. It creates a buffer for these hard times. Or, presents wonderful opportunities when everything aligns. Either way, it’s a hedge with the unpredictable nature of time.

This article will help you understand why saving is valuable and how to “lock in” to a savings mindset. Then, provide a host of ways to save without feeling like you’re sacrificing everything.

The Value of Money & How to Stay Vigilant with Savings

There’s no denying money makes the world go ’round.

You may have found having more money doesn’t make you happy. But, similar studies found a “saturation point” to which having enough money does improve wellbeing and happiness. Usually, the later results from less stress and financial freedom to explore what one wants.

Having enough money today means fewer instances of a downward, financial spiral.

It means:

Getting that cancer checkup finding precursors before it’s malignant
Fixing dental problems before they’re excruciating and sometimes deadly
Having a course in higher education helping to align versus aimless progression

Saving money is the core of these beneficial activities done today helping you lead a healthy life later on. The burden is overcoming the immediate need for money — especially when things are tight. This is why we set savings goals.

What goals help people save?

Home
Car
Education
Travel
Marriage
Children
Financial Independence

These are items offering lifestyle changes.

If we reach them, they’re worth the grind because it pegs us one rung higher. Saving becomes easy when these goals are present versus saving for the sake of the activity. Of course, to each their own — but consider every time you’ve saved effectively and it’s very likely it was attached to a major, lifestyle-changing event.

How to Cut Costs to Reach Financial Milestones and Goals

Two avenues will increase savings:

Making more
Saving more

Unfortunately, many wages remain stagnant while inflation grows. One could hop jobs for a raise, but the markets remain laggard — it’s not a viable option for someone stuck in their economic position.

Instead, cut costs:

Shop Around — Fill your time with comparison shopping for everything. This includes everything from your typical grocery shopping to finding cheap prescription glasses. We’re in the age of globalization and the internet, there’s a very fine chance better discounts are available online if you’re willing to wait for shipping. Plus, it’s likely you could have stores price match competitors if an item is absolutely crucial to have right now.
Barter — Connect with friends, family, and neighbors to barter goods and services. This includes common items whether it be ingredients for cooking or yard tools, to ride sharing or exchanging services instead of money. Bartering bypasses extra expenses tacked-on by the supply chain. Plus, it creates a network where you and participants aren’t spending money on limited-use items when they could get shared.
Adjust — There’s a very good chance you’re unable to save money because of your lifestyle. Many people lead happy lives living on minuscule budgets. These budgets may form from moving or adjusting consumer habits, or changing their diet and social influences. It may seem like a sacrifice, but align your life’s goals as and the savings will come naturally — especially if they help you reach these feelings rapidly.

Three items? Well, of course.

Remember, the big saving goals are often attributed to lifestyle changes. Why not align the process with big lifestyle changes too? Shopping around, bartering, and general adjustment will have the greatest impact on your financial goals.

Of course, you should include some of the “easy wins” that’ll grow your savings pot like using high-interest accounts, selling stuff, and keeping loose change. There’s no reason not to do these as they’ll reinforce your decisions.

Smart Ways to Save Money for Your Children

April 30, 2018 by dadofdivas Leave a Comment

As fathers, it’s no secret that having children can be expensive. In fact, data shows that it costs a little over $233,000 to raise a child until they reach the age of 17. To make matters worse, our wages and incomes are remaining stagnant while costs of living and rates of inflation are on the rise. For today’s families, this news is disheartening, especially when we have to work extra hours to make ends meet or put aside money for our children. Thankfully, it’s not all doom and gloom. We can find smart ways to save money for our kids and become more financially secure with some creative thinking and planning.

Please scroll through the following tips to save money for our children and help balance our budgets in the process:

Make saving a priority.

It might sound a little selfish, but pay yourself first. Yes, before paying the bills or heading to the store you should deposit money into your savings account- even if it is only $10 or $15. This practice will keep us from overspending and ensure that we are setting money aside to save.

Cut the cable or satellite.

Avoid this costly bill every month by accessing numerous shows and movies online or subscribe to a cheaper streaming service to save money. If you are a member of Amazon Prime, you already have access to their Prime video service. Head to the local library to borrow materials for free! If ditching television service isn’t realistic, call your provider and look into discounts they offer.

Avoid playing the name game with brands.

An easy way to cut your grocery and clothing budget is to ditch the name brands. Purchase generic or store brands when available and soon you will be able to notice a huge difference in your spending. Use the savings to invest or open a savings account for the kids.

Start investing in a college fund today- not later.

Whether your daughter starts college in two years or sixteen, start saving today. Time is our best friend when it comes to this major life expense and every little bit will help and prevent our kids from having to take out more student loans. Make it a priority to start a college savings account today, so over the years they can build interest.

Diversify your savings and investments.

We have all heard the saying, “don’t put all your eggs in one basket”. Take this timeless advice and smartly save money for our children with savings bonds, buying diamonds or gold, investing in real estate, buying stock in the market, and starting a traditional savings account to diversify investing. This strategy gives us several different ways to expand our income and offers a safety net if one of the sects isn’t performing well.

Limit the “stuff” in your home.

A relatively easy way to save a little cash for our kids is simply cutting back on the amount of toys, games, clothing, or nicknacks we buy our daughters. Our children really don’t need to have every new toy that hits the shelf. Only purchase these items when needed or for special events like birthdays or holidays.

Buy used when possible.

Kids grow like weeds and are constantly needing new clothing or sporting equipment. When possible, buy used baby gear, clothes, equipment, or toys. Check out garage sales, online used selling sites, or consignment stores before heading to the store to buy everything new. Often, children’s items don’t get worn out and you can find quality items that are gently worn.

Host a garage sale.

Make a little money by cleaning house and sell outgrown or unused items. You can use these profits to start an emergency fund or pad your nest egg. You might be surprised how much cash you can raise from stuff that has just been collecting dust in your garage or basement.

Say goodbye to debt and fees.

Pay down your debt and loans to save money spent on interest and fees. In addition, pay your bills by the due dates and consider signing up for recurring monthly payments to avoid late fees. If making a payment is impossible, don’t wait. Make a call to the company to talk about arranging a solution to prevent penalties or higher interest rates.

Cutback on extracurricular activities.

Allow a child to join only a couple of sports or clubs. This tactic provides two benefits: your daughter will gain some much needed downtime and save you a lot of money.

Bring back homemade meals.

Avoid eating out and eat at home to save money. Try meal planning and food prepping on the weekend to avoid the nightly struggle of figuring out what to serve and to avoid waiting in long take-out lines or unhealthy options.

What are the smart ways you save money for your children?