We live on one income and have for nearly 20 years. And no, my husband is not a doctor. We live on one, sometimes-below-average-income and have seen some tough times financially. There has not been a day of our lives that we have not had to implement money-saving tips.
We also have four children, all of which have some ongoing medical needs. Knowing how to save money is essential for our family! Thankfully, I grew up with parents who knew how to live BIG on very little (at times) too. Over the years, I have been able to contribute a little money to supplement our income through various side-gigs, but COVID-19 pretty much ended all of those and I’m back to saving money as my full-time job. So, today, I want to pass on a few household tips to save you money.
You may think you’ve read all the tips before. Sometimes, I read articles on how to save money always including basics like, “make your coffee at home” and “stop eating out so often.” Most often, I come away thinking, “Okay, I have literally already cut all of those things out of my budget.” So, hopefully, you’ll take away at least one new idea to save money for your household from this!
My Favorite Household Tips to Save Money
- Plan Ahead!—
This is my MOST FUN way to save money! I have four kids and they often get invited to birthday parties. I also have five nieces and a nephew who we buy birthday and Christmas gifts for each year. Jumping on Amazon to shell out $20 for a gift for every birthday party adds up quickly!
Enter: The Gift Box. Throughout the year, whenever I am shopping, I check clearance racks and shelves for gift ideas—especially for those birthday parties.
After New Year’s at Walmart, you can find make-up kits, craft kits, bath kits, for a couple of bucks or less! Look in their “stocking stuffer” aisle and choose some items for your gift box. If the items are in “Christmas-y” packaging, re-package them in a cute box or basket (from the dollar store).
You will be surprised at how much fun you can have with this! So often, you might see a great deal on something, but really don’t have a use for it just then. But that item can go in the gift box, and there is just so much joy in having a great gift on hand when you need one! (Can you tell that my love language is gifts?)
I love giving gifts! And I love it when my kids can go to the gift box, pick out a great gift for a friend, and I know that that $20 wallet phone charger my teen’s friend will love, only cost me $3!
Also, just a side note on the power of having a gift box—When I was in high school, I was invited to a youth group Christmas event, but the person who invited me forgot to tell me to bring a gift to exchange. I was mortified that I didn’t have a gift!
Then, the mom who was hosting the event whispered to me, “Come with me.” She took out her gift box and said, “Pick something and I’ll wrap it up!” It was so kind of her and allowed me to be included. You never know when that box will come in handy!
- Think Outside the Box—
One of the best tips to save money for your household is by thinking outside the box and having a little bit of vision for used, or clearance items. For example, I once got these canvas pictures that were HIDEOUS, but the canvas was thick and deep.
They were great quality, but the picture was ugly. So, I primed it and painted over it and for $1, I have a brand-new piece of art in my house! My kids love to paint on canvas, so I bought every ugly picture they had in the store.
Yesterday, my daughter had her tenth birthday party. She loves Little House on the Prairie, so that was the theme of her party. It was so much fun!
Last winter, the owner of the little pharmacy in town was cleaning out some of their old items in storage. He knows how I love other people’s old junk (I told him to save me the step of digging it out of the dumpster and just to haul it to my house!) so the gals cleaning out the storage area sent me a big tote full of old, ruffled tablecloths they had once used for displays.
These things were UGLY! But as soon as I saw the floral print and the ruffles, I thought of Little House on the Prairie skirts. All they needed was an elastic waistband and the rest of the sewing was done for me! It was SO FUN that all off my daughter’s friends could take home a prairie skirt for their own “pioneer-girl” playtime! Four bucks in elastic made for ten excited girls (and an epic 10th birthday party!)
- Do Not Be a Minimalist—
I know this goes against the grain…when EVERYONE on Pinterest is telling you to be a minimalist! Here is why I will NEVER be a minimalist…I HATE buying things twice! I HATE IT! If I have something, why would I throw it away, only to have to buy it again later?!? Nope.
I don’t care how much they tell me it saves money, I cannot wrap my head around how it possibly could! If I pay $5 for something that I need now, but then I don’t need it again for a couple of years, so I sell it for $1 or give it away, and have to pay $5 for it to go re-buy it…THAT DOES NOT SAVE MONEY!
I can get behind being intentional about asking yourself if you really need it BEFORE YOU BUY IT—yes. I can get behind that. But selling things you have with the idea that if you need it one day, you can just go buy it, will not save you money.
I will say, though, that there is a balance. Obviously, you don’t want to live in a hoarder house, so you have to keep what you take in manageable. That’s the flip-side of the minimalism battle. Find a balance. You don’t need to throw or give away everything in your house. Instead, find a way to make those items work for you!
- Never EVER Pay Full Price—
My best shopping tip: EVERYTHING goes on sale! Seriously. My son recently tried on a pair of Adidas sneakers that he loved…to the tune of $110. Um. Not happening. But I told him I would keep my eyes open because he needed a decent pair of shoes for school.
I shopped around online and found him a clearance pair (last year’s model that are ALMOST IDENTICAL to the ones he tried on—they’re not that creative with their designs from year to year) for $30. He is thrilled to have the shoes he loves and I saved EIGHTY BUCKS!
One of the most important tips to save money for your household is to set a budget for everything you need to buy. For example, if my son needs a pair of shoes for a sport, I set the budget and refuse to spend more than that.
It might take a little planning ahead (not trying to order whatever I can get my hands on two days before practice starts!) and a little extra shopping around, but I always find something that works!
As my sons have gotten older, they’ve become more aware of the prices and how much money you can save. Half of the excitement of getting new sneakers for my son was the fact that I got them for $80 less! And letting your children wait for something actually helps cultivate gratitude.
- Don’t Be Afraid to Haggle—
I typically don’t haggle…many times, it’s annoying to the person selling. However, BIG PURCHASES can be haggled on! Do you know this? Haggling has gone by the wayside, but most people who are selling things like cars, are willing to go lower on their price.
As both the buyer of vehicles (and have NEVER paid the asking price!) and the seller of vehicles that has taken a lower offer, I can tell you that most people, at least in my area, are willing to negotiate on price.
Here are some tips:
Be blunt about the value. If you’re buying a used vehicle, pay attention to the things that will need to be fixed. For example, the most recent vehicle we purchased needed a new windshield and new tires. So, when we went in to negotiate the price we used that as leverage in getting the price down.
Also, if you can make an all-cash offer, especially with a private-party sale, it’s worth something! People are afraid that someone will write a bad check. Now, with Venmo, and other online ways to exchange personal money, people feel more protected, but they are still often paying a fee for that service.
However, if you are looking at a vehicle and the asking price is $5000, don’t be afraid to offer $4300 all-cash. They will probably counter-offer and you can go from there, but they might just say, “Done!”
One final tip—be up front with them. People respect those who budget. Most of us are just trying to make a decent living and make the ends meet! If you’re looking at a vehicle with a $5000 price tag, you can say, “I don’t think you’re asking too much, but $5000 is above our price-range. Are you flexible on your asking price?”
They might say, “yes.” And they might say, “No.” Either way is fine. But if they say, “No,” then just say, “Okay, thanks for your time.” And keep looking for something that’s within your budget.
By the way, you can negotiate on other big things like medical bills, home purchases, lawyer fees, etc. especially if you can pay in full! I saved nearly $300 on a surgery my daughter had simply by calling the hospital and saying, “If I pay in full today, how much will that save you?” Then, I asked for that off my bill. (Many hospitals print the pay-it-now discounted price on the bill.)
When my husband and I purchased a new couch, I asked if we paid in cash, if they would take 4% off the purchase price, because that’s what they would end up paying the credit card company anyway. They happily said, “Sure!”
It rarely hurts to ask! (Though I don’t recommend haggling over a quarter at a rummage sale!)
Final Thoughts on Saving Money
Setting a budget is easy, but sticking to it is more difficult at times! Many of these tips will save you a few dollars. Of course, that seems insignificant, but like other small things, it adds up over time! Saving $5 a day adds up!
So many people truly believe they need two incomes to make it in this world, which is not true. So much of that income is wasted because of the exchange for time.
If you have less time at home, you might find yourself ordering take-out more often, and paying full price for items more often than if you had time to shop around for them. And if you add in the money you spend on daycare, you might find that you’re not coming out much further ahead than if you stayed home and raised your children.
Either way, though, whether you stay home or work outside of the home, if you can master these five tips to save money, you will be able to run your household more smoothly, and have the bonus of being prepared for every birthday party that comes your way!
RElated: Five Reasons Kids Should Not Get an Allowance
