We could all do with a little extra money in our back pockets each month, couldn’t we? Money that could be saved or out to other uses. Perhaps a family vacation or a nice day out somewhere. However, we can all be a little restricted when it comes to our finances, especially if we happen to be on a fixed income each month with no chance of increase or bonus.
But there are things you can do with your current situation that can help boost your income and save you some money along the way. I thought it was the ideal time to share with you some of the best kept secrets that can help you boost your family income.
Look at your current outgoings
One of the first things you should do is use this opportunity to look through your current outgoings and see if there are anyway ways you can increase your disposable income. This means looking at every direct debit and outgoing so it might be worth printing off your last few months bank statements to give you an overview. It might be worth switching providers for things like insurance products or energy bills, as more often than not, companies save their best deals and rates for new business. You may also come across debits from your bank that you may have thought were canceled. You would be surprised how many people still pay for gym memberships.
Use discount codes and vouchers to bring the costs down
There is always going to be times where you need to spend money. Especially when children grow out of clothes or need things for school. But that doesn’t mean you can’t be more frugal about it. A great tip is to use discount codes and vouchers to help bring the cost down. These can offer money off at the checkout, or for things like days out free tickets. Websites like CouponSherpa.com can help you find just what you are looking for.
You ma also want to combine discount codes with a bulk shop. If you can, use sales to buy clothes a season ahead or a size up from what your children are currently wearing. This helps you prepare in advance and also reduce the cost overall.
Control your food spend
The food bill is one of the biggest outgoings a family can have after their initial rent or mortgage payment. Often if can be difficult to work out exactly how much you spend each week due to heading to the store more than once, food out or even take out evenings. If you can, try and reduce the amount you spend by changing some of your habits. Reduce take outs to one every fortnight or even once a month if you can. Often this can create a huge saving. Other things to try would be things like meal planning, changing your regular store or even switching products from brands to store equivalent. Making some of these changes can even halve your food shopping bill if you are savvy enough.
Meal planning and batch cooking are two of the most popular way families save money on their food bill. This also helps with a busy family lifestyle as you can always be assured that you have a healthy and nutritious meal either waiting for you or ready to prepare when needed.
Consider using your spare time to earn extra income
There are other ways to boost your income that doesn’t involve your current situation. You could utilize your spare time to earn extra money in the evenings or weekends if you can spare the time. Lot’s of parents take on online side hustles such as mystery shopping, filling out surveys or even putting their skills to good use. There are lots of freelancer websites online that could help you secure one-off jobs for writing and even inspire you to start your own blog. If you have a talent and can make something, why not take advantage of platforms like etsy.com to sell things you can make.
Declutter your home and sell unwanted things
Finally, decluttering your home is a great way to build up a stockpile of items you can sell from home or online on websites like eBay. Clothes that no longer fit your children. Kitchen gadgets that just gather dust in your cupboards. The options are endless and something that may not be usable for you could be something someone else would gain a benefit from.
I hope these tips help you boost your family income.