During the year, your family will spend a lot of money on loads of different things. The question I pose to you is; do you know what your family spends the majority of its income on? Every family is different, but research suggests there are certain things most families spend a great deal of money on. Some will be quite obvious, while others may shock you. Check out the biggest family expenses down below…
Not a lot to say about this one to kick start things off. We all know our family spends a lot on energy bills, and there are ways in which we can change this. The bigger the family, the higher the bill.
Try and save energy in your home by doing simple things like turning off the lights and wearing extra layers instead of having the heating on.
It’ll shock you how much money is spent on food.
Again, we know our family spends a lot on food, and we can’t avoid buying food, or we’ll, well, die. The average family goes on at least one food shop per week, which quickly adds up and depletes your finances.
To reduce how much you spend on food, try shopping at a cheaper place. Shops like Aldi are great because they offer non-branded products that are way cheaper than branded ones. You can halve what you spend per week by making the switch to cheaper stores.
Families spend so much money on new clothes every single year. Often, you buy new things just for the sake of having something new. Obviously, this is a bit of a waste of money. But, most families buy new clothes because their kids grow out of old ones, or they get too damaged to wear.
Can you spend less money on clothes? Of course, you can. To start, take a look at how you clean your clothes. If you use a washing machine, this may be what causes them to become damaged, or shrink out of size. I recently noticed there were loads of great dry cleaning services near me, and have taken to washing some of my clothes there instead of at home. Dry cleaning prevents wear and tear, along with the shrinkage that happens in a washing machine. Therefore, you can spend less money on new clothes as yours last longer.
Yes, a gym membership seems like a good idea, but it can cost serious money every month. Especially when you don’t actually use it! I’m all for living a healthy lifestyle, but not if it eats your monthly budget!
The thing is, there are loads of ways you can stay fit without needing to pay for a gym membership. Running, cycling, or working out at home are all free.
If you spend a lot of money on takeaway pizzas or going to coffee shops, then you’re just like the rest of us who spend a lot of money going out to eat. It’s one of the biggest expenses out there, and we know it’s not good, but we just can’t help it.
The only way you can save money is by trying your best to cut down. Maybe eat out once a month, or invest in a coffee machine, so you don’t have to go to cafes!
There you go; modern families spend most of their money on these things. Which one are you most guilty of, and did any of these surprise you?