As a Mom of three, I know it can be difficult to stick to a budget when unforeseen expenses pop up with kids. A broken bone, unexpected dental work, sudden growth spurt, school fundraisers. The list goes on!  

The state of the economy and rising inflation makes a tough job even more demanding. We are seeing a significant increase in the price of groceries, fuel, childcare, insurance, property taxes, electricity, rent…so many things! The cost of everything around us continues to increase, yet our income is not seeing the same increase. This topic is certainly at the forefront of the minds of parents and families right now. If you have been feeling the stress of the unstable prices, you certainly are not alone!

How can parents & families navigate finances during this unique time?

It is so tricky to budget when the cost of living keeps changing! But, sticking to a budget is more critical now than ever. I am in charge of budgeting for our business and my family of five, and I’ve made a list of things you can do (right now) to make your dollars go a little further during this crazy time.  

You can pick a few little changes to make from the list or be an overachiever and do them all! I included something for everyone, whether you have a lot of extra time or just a few minutes to spare!

Easy Changes for Everyone

1. Use a grocery pickup service to stick to your family’s grocery budget

I can’t stress just how helpful grocery pickup has been for our family and sticking to a monthly grocery budget! It eliminates impulse-buys that happens when you physically shop in the store. It also saves SO much time having someone shop for you. Most importantly, it helps you see the total you are spending BEFORE you check out and pay. This allows you to take items out of your cart if you are over budget. It allows you to be more creative and shop around to find less expensive meals for your family. 

Set a monthly budget for groceries, and divide it by the number of weeks in the month to find your weekly grocery budget amount. Set a grocery pickup once a week, sticking to your weekly budget amount. We use Wal-Mart grocery pickup, which is free to use! To get started, download the app and make your first order.

2. Make a list of FREE entertainment ideas for your family

If you have little kids, toddlers, or busy bodies like I do, it can be hard to stay cooped up in the house. Keeping kids occupied can make days much easier on everyone, but getting out of the house can be expensive now if you don’t plan!  

Take a minute to list FREE activities, so your family can get out of the house without spending any money! Then, please put it on the fridge and let the kids pick an activity from the list. This is fun for everyone and makes saving money a fun game! (A few free entertainment ideas: visit the public library, picnic at the park, feed ducks at the lake, ride bikes at a new park, host a game night, go for a hike, attend free community events, etc.)

3. Pack meals for busy nights

School has started, which means sports and activities are in full swing. As a result, we are out of the house from 3-8 PM a couple of nights of the week. Instead of stopping for fast food on those nights, I have started packing easy meals from home. My go-to is a few PB&Js, apples, and carrots. It’s inexpensive and healthy, and my kids love PB&J night! You can save a lot of money by planning and packing meals for those busy nights.

4. Cancel unnecessary memberships

I’m sure you’ve heard this tip before, but have you taken the time to look at your current subscriptions? I looked at our most recent bank statement and found that we had almost $100/month of charges/subscriptions that were not being used! So now is a great time tzo review those subscriptions/memberships and cut what you can live without. You may be surprised (like me) to find some random app subscriptions or streaming services you don’t utilize at all!

5. Set up a neighborhood carpool

Gas prices are so high right now! This is the time to organize a carpool system in your neighborhood that will allow everyone to use less gas. Also, if you know another parent attending your child’s school, offer to rotate days for drop-offs, so you aren’t driving to the same place every day. This saves money and time and helps the environment. Win-win!

For the Go Getter!

6. Make sure your tax withholding is dialed in

If you generally receive a large refund at tax time, it is a good idea to update your withholding so that you can have that money in your pocket now. 

Let’s say you generally receive a $3,000 refund when you file your tax return. However, you could instead receive an extra $250/month that could go toward living expenses when you need it. This often also helps you make better choices. For example, having a little extra money each month instead of getting a large amount all at once helps avoid making a purchase you really shouldn’t make. 

To update your withholding at work, contact your HR department. You can use the IRS’s online tool and your previous tax return to calculate your proper withholding. Ideally, it would help if you tried to get as close to $0 when you file your tax return. Meaning you don’t owe, and you aren’t due a refund.

7. Sell unwanted items in your home

If you have kids, there is a BIG possibility you have some unused kid items that you can sell on Facebook Marketplace or your local neighborhood group. It takes a little time to take photos and post your items, but kid items usually sell very quickly! I just sold a large box of outgrown clothes that took up space in the closet for $100! Make sure to take clear photos and use good descriptions when you post items for a quick sale. 

8. Use a budgeting app

Successfully sticking to a budget requires time and dedication from all household members. We use a FREE budgeting app called EveryDollar to keep track of our budget. There are so many great apps out there that can help you get in control of your finances.

Once a month, we sit down and discuss upcoming expenses so that we can plan for those in our upcoming monthly budget (birthdays, school supplies, home maintenance, etc.). This keeps us accountable and helps us make better budget decisions about upcoming events.

9. Plan for any known upcoming expenses

Did your Mom or Grandma ever start shopping for Christmas in July? Mine always did, and now it totally makes sense! As we approach the end of the year and the holiday season, it is best to set your budget NOW so you don’t get carried away. How much is reasonable to spend on each child for gifts? Will you buy new Halloween costumes or start making some now? Will the kids need new jackets for winter? Prices will be better now before the winter season begins! The more time you give yourself to plan for upcoming expenses, the more creative you can be. 

For the Overachiever!

10. Find a creative way to earn extra income

Here are a few ideas for parents or families to make extra cash. If you have a few hours to spare, there are some great side-hustle ideas I’ve seen done in my little community. It’s now easier than ever to post in your community group to offer your services and make some extra cash!

Family Meals

Make some family-style meals for busy families in your neighborhood to purchase—easy items like lasagna, pasta, enchiladas, casseroles, etc. So many families would love a service like this for busy seasons!

Laundry Service

Is there a family or two you could help with laundry in your neighborhood? I’ve seen this service popping up a lot lately! Individuals will charge to wash, dry, fold, and return laundry per pound in a day or two. It’s an excellent service for busy families and a great way to make extra cash if you have the time.

Pet sitting

If you love animals, another excellent neighborhood service is pet sitting! I know many friends and family members who pay someone to feed their animals twice a day when they go out of town. But, again, you can easily do this with kids in the mornings and evenings to earn extra money.

School pickup or drop-off

There are so many families now with both parents working full-time. This makes the school schedules tricky, especially the 3:00 PM dismissal times. If you have kids in school and some extra room in your car, a great service for working parents is help with school pickup or drop-off. Many parents need help with this, and there aren’t enough budget-friendly options available. There may be a couple of families in your neighborhood who would love to have some additional help close by!

11. Make Freezer Meals

Whenever I want to save money AND time, I always make freezer meals for my family! Jump on Pinterest to easily search for freezer meal recipes. There are so many that even include shopping lists and lists the price per meal. It does take some time to plan and assemble meals, but there is a BIG payoff!

12. Trade Services

Get creative with your budget by trading services. For example, does your child want to sign up for gymnastics, but it doesn’t fit your family’s budget? Ask to volunteer as an assistant for some classes in exchange for free tuition! Does your child want to sign up for school sports? Ask if you can volunteer at the concession stand to waive the sign-up fee. 

You likely have a skill you can barter with if you get creative. Now is certainly the time to try and think outside the box!

How do you manage your family finances to save money?

More financial advice from the author.

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