Having a lot of mouths to feed and people to take care of in a big family is quite difficult. Trying to save money in addition to this might seem impossible but it does not have to be if you take advantage of these five money-saving tips.
Below are tips from people with large families:
1. Use only what you need
Kerri Engle, a 28-year-old mom based in New Orleans with four kids tells US News that large families need to focus on the necessities in order to save money.
In her words, “There are so many ways to save money, and the biggest way is to live simpler and waste less. We try to live by the philosophy of only use what you need.”
2. Make second-hand things your friend
Engle’s second advice is for parents to let go of brands and invest in second -hand clothes, better known as “Okrika.”
“Hand-me-down clothing and thrift store kids clothes are such an easy way to save money and be green,” she says.
3. Have fun at home
Rather than spending thousands of Naira on movie and popcorn tickets, why don’t you just save all that money and chill at home instead?
You can make popcorn at home, or buy the cheaper ones. You can also snack on relatively cheap things like groundnuts, biscuits as you and your family watch movies together.
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4. Cut out meat
For most Nigerians, who love meat, this might seem impossible but Amanda Elo, a 35-year-old Rochester, Minnesota-based mom swears that this is a great money-saving tip.
“Instead of eating meatless one or two meals a week, our default is meatless, and we add meat in occasionally,” she says.
Think of all the money you could save if you reduced your meat intake.
5. Shop Online
David Geibel, managing director and senior vice president at Univest Wealth Management in King of Prussia, Pennsylvania, believes that shopping online with a list is the way to go.
“We like doing it online because you don’t get caught up in the moment,” he says. He also advises saving some money by buying in bulk.