Raising a family can be expensive, with some sources estimating it can cost as much as £220k to raise a child as a lone parent, but there are ways to reduce costs and make it more affordable even on a limited budget. Here are some simple tips for UK parents looking to save money while providing for their family.
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Compare Supermarkets and Buy Store Brands
One of the biggest expenses for families is groceries. Comparing prices between the major supermarkets can reveal big savings. For example, buying store brand items over name brands can cut costs by 20-50%. Most people find that discount supermarkets like Lidl, Aldi, and Heron foods are much cheaper than the bigger named supermarkets.
Make a list before shopping and stick to it to avoid impulse buys. Buying in bulk for non-perishables can also save money over time.
Use Loyalty Schemes and Voucher Codes
Take advantage of loyalty schemes and vouchers offered by supermarkets and retailers. Tesco Clubcard, Boots Advantage Card and Sainsbury’s Nectar points can lead to big savings over time. Sign up for newsletters from favourite shops to receive promo codes and sale alerts. Websites like VoucherCodes offer discounts on top retailers that can be used instore or online.
Cook at Home and Meal Plan
Eating out is usually far more expensive than cooking at home. Meal planning for the week ahead helps streamline grocery shopping and reduces food waste. Involve kids in meal prep and cooking to make it a fun family activity. Leftovers can be incorporated into future meals. Packed lunches and homemade snacks are cheaper than buying food on-the-go.
Use Free and Discounted Resources
Check out free local resources like parks, playgrounds, libraries and museums for entertainment and activities. Many places offer discounted rates for families like cinemas, theatres and leisure centres. Ask about discount memberships and family tickets and look for deals like kids eat free.
Turn Hand-Me-Downs and Second-Hand Finds into Savings
Kids outgrow clothes and toys quickly. Save money by accepting or browsing for quality second hand items from friends, charity shops and selling groups. Websites like eBay and Facebook Marketplace are great for finding bargains. Swap hand-me-downs with other parents. Repurpose old items for younger kids.
Choose Free or Low-Cost Days Out
Look up free events happening locally like festivals, fairs and concerts in the park. Museums, zoos and other attractions often have free or discounted days. Instead of expensive days out, have picnics, hike local nature trails or visit playgrounds. Child-focused activities like soft play areas and swimming tend to offer family discounts.
Teach Kids About Money
Involving kids in saving and budgeting decisions teaches money management. Set up designated family jars for saving for holidays, treats and emergencies. Give children an allowance for chores and teach them to save a portion. Show kids how to compare prices when shopping together. Let them know their efforts contribute to the whole family.
Make Sure You Claim All the Allowances Due
Things like Child Benefit and other family benefits can make a big difference. If you plan to foster, investigate foster care allowances to see how much you’d get for offering a home to a foster child.
A few simple changes can reduce the stress of making ends meet and help families focus on what matters most – each other.
