Saving money with a big family can be challenging, but with strategic planning, budgeting, and some smart shopping habits, it’s possible to cut costs significantly. Here are practical ways to save money when supporting a large household:

1. Create a Family Budget and Set Financial Goals

• Track Income and Expenses: List all sources of income and expenses. Track everything for a month to identify spending patterns and areas for improvement.
• Prioritize Needs vs. Wants: Establish priorities for essential expenses (housing, food, healthcare) and limit spending on non-essentials.
• Set Family Savings Goals: Involve the whole family in setting goals, such as saving for a vacation or building an emergency fund. When everyone understands the importance, they’re more likely to support efforts to save.

2. Buy in Bulk and Shop Smart

• Bulk Purchase Essentials: Buy bulk items like rice, pasta, canned goods, toiletries, and cleaning supplies at wholesale clubs like Costco or Sam’s Club. Bulk purchases often have lower per-unit costs and help reduce frequent shopping trips.
• Shop Sales and Use Coupons: Take advantage of store sales, discounts, and coupons. Apps like Ibotta, Rakuten, and Fetch Rewards can offer cashback and additional savings.
• Choose Store Brands: Generic or store-brand products are usually cheaper than name brands and often have similar quality, which is especially useful for pantry staples, dairy products, and cleaning supplies.

3. Meal Plan and Minimize Food Waste

• Plan Weekly Meals: Create a meal plan based on items you already have and what’s on sale. Meal planning helps avoid impulse purchases and reduces food waste.
• Cook in Bulk and Freeze Leftovers: Prepare large portions and freeze meals for future use. Batch cooking saves time and makes it easier to prepare cost-effective, home-cooked meals.
• Use Leftovers Creatively: Repurpose leftovers into new meals to avoid waste. For example, leftover chicken can be turned into soups, sandwiches, or tacos.

4. Limit Eating Out and Pack Meals

• Pack Lunches: Packing lunches for school and work saves a lot compared to buying meals. Invest in reusable containers and lunch bags to make it easy and cost-effective.
• Have a “DIY” Snack Station: Create a snack station at home with pre-portioned, inexpensive snacks (like pretzels, fruit, or cheese sticks) to reduce the temptation of more costly, pre-packaged items.
• Make Dining Out a Special Occasion: Limit eating out to special events or weekends. Plan and budget for family outings so you can enjoy without overspending.

5. Minimize Utility Bills

• Practice Energy-Saving Habits: Turn off lights and appliances when not in use, use energy-efficient LED bulbs, and unplug electronics to reduce electricity use.
• Adjust Thermostat Settings: Set your thermostat a few degrees lower in winter and higher in summer. Using programmable thermostats can also save energy when no one’s home.
• Use Water Wisely: Fix any leaks, use low-flow showerheads, and encourage shorter showers to save on water bills.

6. Buy Secondhand or Share Large Purchases

• Shop for Secondhand Clothing: Buy gently used clothes for children, as they outgrow items quickly. Check out thrift stores, consignment shops, or online marketplaces like Poshmark and Facebook Marketplace.
• Borrow or Rent When Possible: For items you only need occasionally, consider borrowing from friends or renting instead of buying. This is especially helpful for tools, sports equipment, or event supplies.
• Use Hand-Me-Downs: Encourage siblings to use each other’s clothes, toys, and equipment where possible to maximize each item’s lifespan.

7. Embrace DIY and Save on Household Services

• DIY Household Maintenance: Learn to do basic repairs, painting, or landscaping yourself to avoid paying for professional services.
• Make Homemade Cleaning Products: Homemade cleaning solutions (e.g., vinegar, baking soda, and water) can save money and reduce chemical exposure.
• Try DIY Entertainment: Organize family game nights, movie nights, or backyard camping instead of expensive outings. These can be just as fun and help save on entertainment costs.

8. Reduce Transportation Costs

• Carpool When Possible: If you have kids attending the same school or nearby activities, arrange carpools with other families to reduce fuel expenses.
• Opt for Fuel-Efficient Vehicles: If you’re buying or replacing a family car, consider fuel efficiency and maintenance costs. Minivans and certain SUVs have more space but vary in fuel economy.
• Use Public Transport or Walk: For trips to school, the park, or local shops, consider walking or using public transit if available. It’s cost-effective and a good form of exercise.

9. Save on Healthcare and Childcare Costs

• Look for Health Insurance Discounts: Many insurance plans offer discounts or incentives for preventive care, wellness programs, or healthy behaviors.
• Share Childcare Duties: Arrange childcare swaps with friends or family for date nights or work needs. If one parent can work part-time or remotely, it can also reduce daycare expenses.
• Use Free or Low-Cost Health Services: Some clinics, schools, or community centers offer free or low-cost vaccinations, dental checkups, or physicals for children.

10. Utilize Rewards and Cash Back Programs

• Use Cash Back Credit Cards Responsibly: If you have a cash-back or rewards credit card, use it for regular expenses and pay off the balance monthly to avoid interest. Points and cash back can add up and be used toward other purchases.
• Take Advantage of Loyalty Programs: Many stores offer loyalty programs with discounts, coupons, or points you can redeem. Sign up at stores you frequent to maximize savings.
• Join Warehouse Club Rewards Programs: Memberships like Costco or Sam’s Club have rewards programs with discounts and cashback on fuel, groceries, and other essentials.

11. Plan Ahead for Special Occasions

• Shop Sales for Birthdays and Holidays: Buy gifts and decorations during sales, or look for discounted items throughout the year to avoid last-minute, full-price purchases.
• Budget for Back-to-School Supplies: Stock up on school supplies and clothes during sales, and keep an eye out for tax-free weekends, which many states offer around back-to-school time.
• Opt for Homemade Gifts and Cards: Save on gift-giving by making homemade gifts or cards. It adds a personal touch and saves money.

12. Invest in Family-Friendly Memberships and Passes

• Buy Family Passes for Local Attractions: Many museums, zoos, or parks offer family memberships that are cheaper than paying for individual visits. Look for annual passes if you visit regularly.
• Check for Free Community Events: Attend free events like library programs, festivals, and local performances instead of paid outings.
• Use Library Resources: Many libraries offer free access to books, audiobooks, movies, and even passes to local museums. It’s a great resource for low-cost entertainment.

By implementing these strategies and making thoughtful spending choices, a big family can save on essentials and plan for the future without compromising on quality or comfort. Small, consistent savings add up over time, helping create a stable financial environment for the entire family.

Honey is a free browser extension that helps you save money by automatically finding and applying coupon codes to online purchases. Here’s how to maximize your savings with Honey:

1. Use Honey’s Coupon Finder

• Automatic Coupon Application: When you shop online, Honey will automatically check for and apply the best available coupons at checkout. Just click on the Honey icon during checkout, and it will test multiple codes to see which one saves you the most.
• Works on Thousands of Sites: Honey is compatible with many popular online retailers like Amazon, Walmart, and Target. Using Honey regularly across these sites can help you save consistently.

2. Take Advantage of Honey Gold Rewards

• Earn Honey Gold on Purchases: Honey Gold is a cashback program that rewards you with points (Honey Gold) for purchases made at participating retailers. Accumulated points can be redeemed for gift cards to stores like Amazon, Walmart, and Target.
• Check Gold Opportunities: Before buying, check the Honey extension to see if the site offers Honey Gold and what percentage of cashback you’ll earn.

3. Use the Droplist for Price Tracking

• Monitor Price Drops: Honey’s Droplist feature allows you to “watch” items and get notified when the price drops. Simply add the item to your Droplist, and Honey will notify you via email or browser notification if the price decreases.
• Set Price Alerts for Big Purchases: Use Droplist for items you don’t need urgently. This feature is especially useful for expensive items, allowing you to buy them when they’re at the best price.

4. Use Honey’s Amazon Price Comparison Tool

• Compare Sellers Automatically: Honey shows you the lowest price for an item among Amazon sellers. This tool highlights any significant price differences and tells you if the price you’re seeing is the lowest or if it’s been cheaper in the past.
• Check Price History: Honey’s Price History tool lets you see the price trends of an item on Amazon over time, helping you decide if it’s a good time to buy.

5. Join Honey’s Referral Program

• Earn Honey Gold by Referring Friends: Honey offers Gold rewards for referring friends and family to install the extension. Each referral can earn you extra points, which add up to gift card rewards.
• Share with Social Circles: Sharing Honey with people you know can help you accumulate Honey Gold faster and maximize your savings.

6. Stay Updated with Honey Offers and Exclusives

• Access Exclusive Deals: Honey occasionally offers exclusive deals and discounts on certain retailers. Keep an eye on the Honey extension or app for these offers to save on participating stores.
• Use Honey Mobile App: The Honey app also allows you to find and apply savings on mobile, including exclusive offers available through mobile-only retailers.

7. Take Advantage of Seasonal Sales with Honey

• Optimize Savings During Sales: Honey works during major sales like Black Friday, Cyber Monday, and seasonal sales to help you find additional discounts. It’s especially useful during these events, where you can stack promo codes with already discounted prices.

By using Honey’s features consistently, you can save on everyday purchases, track price drops, and even earn rewards toward future purchases. Honey makes it easy to apply discounts automatically, helping you save without the hassle of searching for coupon codes manually.

Saving money during times of high inflation can be challenging, as rising prices erode purchasing power. However, there are strategies to help protect your finances and even make your money work for you despite inflation. Here are some practical ways to save money during inflation:

1. Focus on Essential Spending and Cut Non-Essentials

• Prioritize Needs Over Wants: Separate essential expenses (housing, groceries, healthcare) from discretionary spending (eating out, entertainment). Cut back on non-essential purchases to free up money for important needs and savings.
• Adjust Your Lifestyle Temporarily: Consider reducing dining out, unnecessary shopping, or subscription services. These small adjustments can add up and help you save more during inflationary periods.

2. Shop Smart to Offset Rising Costs

• Buy in Bulk: For items with long shelf lives (e.g., pantry staples, cleaning supplies, toiletries), buying in bulk helps lock in today’s prices before they go up further. Wholesale clubs like Costco or Sam’s Club can be particularly cost-effective.
• Switch to Generic Brands: Store-brand or generic products are often cheaper and of similar quality to name brands, helping you save on groceries and household essentials.
• Use Coupons and Cashback Apps: Apps like Ibotta, Rakuten, and Fetch Rewards provide cashback or discounts on groceries and household items. Combining coupons with these apps can help reduce costs.

3. Reduce Energy and Transportation Costs

• Conserve Energy: With energy prices often rising during inflation, take steps to reduce your consumption. Use energy-efficient appliances, switch to LED bulbs, adjust your thermostat, and unplug electronics when not in use.
• Limit Car Usage: Cut down on gas expenses by carpooling, using public transportation, walking, or biking when possible. If you must drive, combine errands into one trip to save on fuel costs.
• Shop Around for Gas: Use apps like GasBuddy to find the cheapest gas prices nearby, and consider using credit cards that offer cashback on fuel purchases.

4. Invest in Inflation-Protected and High-Yield Savings Options

• I Bonds: Series I Savings Bonds, issued by the U.S. Treasury, are indexed to inflation, so their interest rate adjusts every six months based on inflation levels. I Bonds are safe, low-risk, and protect your savings against inflation.
• High-Yield Savings Accounts (HYSA): Many online banks offer HYSAs with interest rates that adjust periodically. While they might not keep up with high inflation entirely, HYSAs provide better returns than traditional savings accounts.
• Certificates of Deposit (CDs): Some CDs, especially those with short- to mid-term durations, can offer higher interest rates than regular savings accounts. Consider a CD laddering strategy to maintain liquidity while earning decent returns.

5. Reevaluate Subscription Services and Recurring Expenses

• Audit Subscriptions: Review all your subscriptions (streaming, gym memberships, meal kits) and cancel or pause those you’re not actively using. This can save you significant amounts each month.
• Negotiate or Shop for Better Rates: For services like insurance, internet, or phone plans, shop around or negotiate to get better rates. Many providers are open to adjusting rates to keep customers, especially if you mention competitor pricing.

6. Adjust Your Grocery Shopping Habits

• Plan Meals Around Sales and Discounts: Check store flyers and sales apps to plan meals around items on discount. Meal planning reduces waste and helps you stick to a budget.
• Buy Fresh Produce in Season: Fruits and vegetables are cheaper when in season. Consider freezing or preserving them for future use to avoid high prices during off-seasons.
• Minimize Food Waste: Use up leftovers, store food properly, and make use of freezer storage to minimize waste. Wasting food is like throwing away money, especially when prices are high.

7. Invest in Quality and Durability for Long-Term Savings

• Buy Quality, Durable Goods: When making purchases (e.g., clothing, electronics, appliances), choose durable, high-quality items over cheaper, disposable ones. Spending a bit more initially can save you from frequent replacements and repairs.
• Maintain and Repair Instead of Replacing: Extend the life of what you already own by performing regular maintenance on items like cars, appliances, and clothing. Small repairs often cost less than full replacements.

8. Consider Low-Cost or Free Entertainment Alternatives

• Use Public Resources: Libraries often offer free access to books, movies, digital resources, and even passes to local attractions. Look into community events, parks, and recreational areas for free entertainment.
• Opt for Family-Friendly Home Activities: Choose game nights, movie marathons, or backyard picnics over costly outings to save on entertainment expenses without sacrificing fun.

9. Invest in Skills to Increase Your Earning Potential

• Build Marketable Skills: Improving skills or gaining certifications can increase your earning potential and help protect against inflation. Look for affordable courses online through platforms like Coursera, Udemy, or LinkedIn Learning.
• Start a Side Hustle: Earning additional income through side jobs or freelancing can help offset the impact of inflation on your budget. Options like tutoring, freelancing, or selling handmade goods are flexible ways to earn extra money.

10. Consider Dividend Stocks and Real Assets

• Dividend-Paying Stocks: Dividend stocks provide regular income, which can help offset inflation. Look for companies with a history of steady dividend payments, ideally with dividend growth over time.
• Real Assets (e.g., Real Estate): Real estate and other tangible assets (like commodities) often appreciate in value during inflation. If feasible, consider investing in real estate through REITs or rental properties for inflation-protected income.

11. Set Up an Emergency Fund

• Build a Cash Reserve: Having an emergency fund with 3-6 months’ worth of expenses helps protect against unexpected expenses, allowing you to avoid high-interest debt if an emergency arises.
• Keep Funds in a High-Yield Account: Store your emergency fund in a high-yield savings account or money market account to earn some interest while keeping it accessible.

12. Regularly Reassess Your Financial Goals and Budget

• Update Your Budget Regularly: During inflation, prices can change quickly, so it’s essential to adjust your budget regularly to reflect current prices. Reallocate funds as needed to cover rising costs while preserving savings goals.
• Adjust Savings Goals to Account for Rising Costs: If saving for a specific goal (e.g., a house down payment or vacation), you may need to increase your savings target to account for inflation-adjusted costs.

Summary

By adjusting your spending, investing in inflation-protected assets, and being proactive with financial management, you can mitigate the effects of inflation and protect your savings. These strategies can help keep your financial goals on track and maximize your purchasing power even as prices rise.