Encouraging family to save money?
By GemmaR
@GemmaR (8517)
October 20, 2012 12:26pm CST
We are trying to save money at home at the moment, because we don't have enough money coming in to pay for everything that we might have done in the past. Because of this, I need to think of ways that I can suggest to my family to save money without them thinking that it is going to be a lot of hard work.
Are any of you trying to save money at the moment? How can you encourage your children to save money without them thinking that you are annoying, for example?
5 people like this
19 responses
@marguicha (223776)
• Chile
25 Oct 12
I live alonbe now so it`s up to me to save money. But when I had my family with me, I asked them to put off the lights when leaving a room and to have showers of reasonable lenght. No my savings are bigger. I only have on the light of the room where I am. I gave my dryier to my daughter and dry my clothes either in a line outside or, if the weather is not good, I hang them in the bathroom (if you use one hanger for each piece they will get dry overnight). I use all leftovers in the kitchen. You can encourage your children to like leftovers (done in a different way).
@GemmaR (8517)
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25 Oct 12
I think it is better for me to be living on my own when I am trying to save, because I don't even mind doing things like sitting in the dark in the evening so that I don't have to spend any money on the bills, and only having a really quick shower when my family would have spent a lot more time in there. I also would only have to do one load of washing each week and this is something that would be much better for me, as I am finding that I have to do several lots of washing each day for my family of four because I have everyone's uniforms to do and the clothes that the change into.
@marguicha (223776)
• Chile
26 Oct 12
One of my daughters came with her children to my house for a while. My granddaughter was acostumed to trying clothes on and leaving them crumpled on hte floor if she didn`t like them. My daughter took them from the floor to the washing machine and she did lots of washings a day. I talked to both and said that was not done in my house. If she left the clothes on the floor, I`d crumble them back in the closet and she would have to wear them like that. She tried me once, I kept my word and she changed her ways. THere was much less washing after that. I`m sure that if one person needs at the most 2 washings a week, 4 people will need 8 or let`s say 10 if they are children (more dirty, but smaller clothes).
@Inderjeetkaur (944)
• India
20 Oct 12
Hello Gemmar,
I am also saving money for something very essential and important for my life. I keep a limited amount of money from my earnings for expenditure purpose. Rest all goes in the piggy bank. I am glad for whatever I have collected in these past months and I wish I could earn huge, spend huge and save huge in future.
You need to keenly observe your house budget and cut off the unwanted things and reduce the consumption of certain items. Fuel consumption, phone bills and electricity bills are the ones that can be cut down. If your children are in their teenage you can share your problems with them. Tell them to be a little wiser with their expenses.
@GemmaR (8517)
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20 Oct 12
It is a good idea to try and spend as little as possible. When I first started trying to save money, I wrote a list of everything that I had to spend money on and made sure that I had enough money in my account to be able to cover those payments without any more being spent, and the rest of it I would put in another account as it was much better being there where I couldn't spend it. I have a tin where I put all of my spare coins, and I hope that I will be able to take it to the bank when it is full which will be in a couple of months.
@Inderjeetkaur (944)
• India
21 Oct 12
Oh! So, you also collect coins separately. Even I collect coins in a separate piggy bank. It is fun to see coins piling up and turning up to be a good amount within no time.
@cutepenguin (6431)
• Canada
22 Oct 12
It's easier right now for me, because my son doesn't care. He's still too young to worry about things. I am trying to find a lot of ways to save money that I can just incorporate as habits now so that when he gets older, he won't even notice.
We are trying to save up for a house, and with housing prices the way they are here, it will take us a minimum of 4 years to save up the down payment. So we are being frugal in a lot of different ways.
Can you make it a challenge for your kids? Or ask them to help you think of ways to cut back? Sometimes if they are the ones to suggest it, they're more agreeable to actually doing it.
@GemmaR (8517)
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23 Oct 12
It is okay when you have young children because I think that they are easier to get into habits that they will stick to through the whole of their life. I know that my parents tried to help me to save money when I was younger and this has meant that I have been thinking a lot about it in my adult life automatically. I am trying to get money for a house at the moment as well, and I am almost there and just have a little bit more left to save up. Cutting back is something that would make it a lot easier for us to reach our minimum payment so this is certainly something that I am planning on doing.
@Fishmomma (11377)
• United States
22 Oct 12
I would suggest trading items with friends and family. This way you feel like you have something new in your closet to wear. I traded bake goods with one of my neighbors, so my family could eat something different one evening.
Also if you or any of your neighbors have fruit trees make jam, jelly or preserves to help reduce the cost of sandwiches. Also I enjoy making muffins and bread with the extra fruit.
If your stores accept them use coupons, as that saves me a lot of money. I print coupons online and that is quick and easy for any of your friends and family to do. My daughter even prints coupons. She is amazed at how much she can save on movies.
@GemmaR (8517)
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23 Oct 12
This sounds as though it would be a good idea. Clothes swaps were something that I did all the time when I was a teenager, and maybe I can still do it now that I am an adult. Certainly I think that we would be able to swap the children's clothes with those from other families, as this would mean that it always felt as though they would have something new that they would be able to wear. My Uncle and his neighbours do meal sharing where they take it in turns to cook, and I think that this is a good idea so maybe that is something that I could think about.
@marsha32 (6631)
• United States
22 Oct 12
I am trying and trying to get my husband to realize that his using his check card here and there and everywhere really adds up.
He wants to know where all the money is going to and why there is never enough to pay the bills.
I made him sign up for online banking and make him look. He see in front of his eyes days where he spent some times over 15 times a day...some of those being even less than $1.
He didn't comment and I nag him all the time, but hopefully he realized!
Otherwise we are pushing to not have lights on in rooms where we aren't. We are trying to open the windows in the evening rather than running the air conditioner.
I should be hanging the laundry out to dry instead of using the dryer since the weather is still permissible.
I am shopping with coupons, and my whole family knows that I'm really not going to buy anything without a coupon, including meats. Fortunately we have had an awesome sale at the store and our cupboards and deep freeze are fully stocked.
Marsha
@GemmaR (8517)
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22 Oct 12
It is good to be able to see what you're spending your money on all of the time, and internet banking is great for this because you are able to see absolutely everything right in front of you and you can therefore see what you have wasted your money on. I can't even count the number of times where I spend a small amount and think that it won't add up to anything, but then when I log onto my internet banking I find out that actually I have done it with a small amount so many times that it does add up and I no longer have enough money.
@dorannmwin (36392)
• United States
22 Oct 12
We've just made little changes in our lives that have made a difference in our family's spending. For example, my daughter has been through a huge growth spurt in this past year and she needed all new clothes. Well, we decided to try out shopping at the thrift store. It turns out that she loves the eclectic mix of clothing that she can find. So now when it comes to shopping for clothes, that is the first place that she wants to go.
@GemmaR (8517)
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22 Oct 12
It is a good thing to be thrifty as it means that you can save a great deal of money on the things that you would normally buy on a daily basis anyway. Clothes are one thing that children need a lot of time because of the fact that they are constantly growing out of the ones that they have. I don't think that there is anything wrong with buying them clothes that other people have worn before, as it means that they ones that they are able to buy are new to them but aren't as highly priced as the ones that you would have bought if they'd been brand new.
@sedel1027 (17846)
• Cupertino, California
20 Oct 12
Coupons, buying things only when you NEED to replace them, only buying things on sale/shopping ahead,taking good care of your stuff, practicing eco-friendly ways: recycling, turning lights off, turning off water, ect.
@GemmaR (8517)
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21 Oct 12
I love collecting coupons, and this is something that I do when I am in the local supermarket. I get sent a book of coupons every week to show me the foods that they have on offer, and I will always make sure that these are the foods that I buy. So this means that I can eat different things every week so I always have a change. Keeping things until they are in need of replacing is another very good idea, and I know of a lot of people who don't choose to do this and who buy things like mobile phones and computers far more often than is really needed.
@peavey (16936)
• United States
22 Oct 12
I'm always trying to save money! When my kids were at home we made a game of certain things. How long can we go without turning on the kitchen light? How many pennies does it take to fill a Coke bottle? Let's take a walk to the ____.
Kids can be enthusiastic about things if they're presented in the right light. They knew we were trying to save money because we made it a family thing and asked for their ideas, too. I think that helped as much as anything.
@GemmaR (8517)
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22 Oct 12
I think that making a game sounds like a wonderful idea. I like the idea of the walking game particularly, because it can cost a lot to run a car in my country, and can also cost a lot to be able to get a bus if you decide that this is what you want to do instead. Not turning on the light sounds as though it would be a good game as well, as this means that you would be able to save on the bills whilst your children think that it would be something that was fun to do. It sounds like a good balance between saving and having fun.
@dfollin (25381)
• United States
22 Oct 12
Hi GemmaR,I am not sure,my daughter is a teenager,so everything that I say is wrong,according to the teenage mind. But,she came to me and wants to start "Extreme Couponing" to save some money.
Maybe you can give each child a job according to their age.Like the younger one's keep an eye out for the coupon shelf dispensers in the stores.The older ones can help cut them out of the newspaper and magazines.
@GemmaR (8517)
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22 Oct 12
Teenagers can be hard to handle, so we just have to try and do what we think is best at the time. Age appropriate jobs is certainly something that I agree with. I have been doing jobs around the house ever since I was able to walk, whether that was things like putting my toys back in their basket when I was a lot younger, or doing washing and ironing now that I am old enough to do so. Teaching children that they have to work early on in their life can be a fantastic thing as it makes sure that they will be looking forward to life in the future in a responsible way.
@jugsjugs (12967)
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20 Oct 12
I can not remember the last time that I bought myself any clothes, well any thing really.I do feel that there are a lot of people out there that are trying to save money, yet even so they are still finding it really hard to manage as all the prices of things are forever going up no matter what.
I try to turn things off as soon as I have finished with them and I also try to tell others to do the same as well.
@GemmaR (8517)
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20 Oct 12
I have bought a lot of clothes recently but that is only because I have lost a lot of weight and nothing that I had in my wardrobe from last summer or winter fit me anymore so I had to get some new cheap things. But now that I am the size that I plan to stay, I won't be getting any new clothes for myself. If I want anything, I will make sure that I ask my family to get me clothes vouchers for Christmas and my birthday so that I don't have to waste any of my wages on clothes, but I suppose that everybody needs a few bits every now and again.
@ARIES1973 (11426)
• Legaspi, Philippines
20 Oct 12
It is really needed that we practice saving. I also have to remind my children about this thing every time. I would advise them to eat before leaving the house and to bring with them water. I also told them to bring food with them. This way they would not be spending too much for food when they are at school. My daughter is very thrifty and she can save much from her allowance. I myself bring food with me when I went to work. It would be very expensive if I have to eat at restaurants during lunch break.
I also rented a place near my work place so as to save from transportation expenses.
@GemmaR (8517)
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21 Oct 12
I think that it is good to be able to teach children about how they should manage their own money while they are still young, because this means that they are able to get into good habits and when they get their own house they would still be in these habits. Taking food out is a good thing because it means that you are able to spend relatively little on it whereas I think that you would spend more than double if you bought food when you were out. Water is so cheap as well if you refill the bottle whereas it costs a lot more if you choose to buy a new bottle whenever you go out.
@Kashidanga1971 (1354)
• Bangladesh
21 Oct 12
I was a bit lavish. But I think now if dont try to save money I have to pay the potential consequences of not saving money. We must try to teach our kids to be frugal as to save money for hard times. Only money can be our friend in all our hard times.
@GemmaR (8517)
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21 Oct 12
I was quite laid back with money up until this time last year when the main wage earner in our house lost his job. This meant that we more than halved our income and we had to start doing a lot of things differently to make sure that we could make ends meet. This is what made me think about this discussion, because I have learned that it is perfectly possible to save a decent amount of money just from making small changes to the way that you live your every day life, so you don't have to notice it really.
@mariaperalta (19073)
• Mexico
20 Oct 12
Saving money now adays is a must. You never know when something comes up and you might need money. I try and save a few dollars every week here. Sometime sits kinda hard but has to be done.
@GemmaR (8517)
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21 Oct 12
One of the things that I find the hardest these days is the unexpected things that happen that means you need some money. For example if you have a problem with your car then this means that you have to get it fixed, but if you have not already saved up money and set it aside then you might not be able to do this. I have a box that I put my spare coins in, and I always know that there will be some money in there if I need it because I add to it throughout the year specifically for those times when I have to pay something that I wasn't budgeting for.
@THISISIT (63)
• Philippines
21 Oct 12
saving money is really a hard work, and times now, normal people don't have enough money to save. We must sacrifice some things so as we can be able to save more .
@GemmaR (8517)
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21 Oct 12
I know that times are hard at the moment, and there aren't many people who have a great deal of money to be able to save. However, I think that there are ways that people can save money in their day to day life and that means that they would be able to save the money that they're not spending on things that they would usually buy. It is very important for everybody to be able to save some money every now and again because then it means that if you need spare cash for anything you won't have to worry about where it is going to come from.
@KrauseHome (36447)
• United States
9 Nov 12
Well right now we are having to pinch pennies as well and trying to figure out how to keep our head above water as well. Because of the hyperbaric oxygen treatment I am going thru it is making it hard financially as I am not working my whole 40 hrs a week.
@zandi458 (28102)
• Malaysia
20 Oct 12
Honestly my financial management is a total wreck. I wished I had learned from young age how to save money for rainy days. My parents showered me with money and all I need was to open my mouth to ask. Now that i am no longer under my parents sponsorship I am always broke. My children are better off as they are a bit of a miser and have fat bank accounts..
@GemmaR (8517)
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20 Oct 12
I was a little bit spoilt when I was a child, but at the same time my parents taught me that I would have to earn my own money when I was old enough to, and they were true to their words. I know that even when I was little they would make me do jobs around the house in order to earn money. I was able to earn as much as I liked as long as I was willing to do the work, and this made me realise that the only thing that I had to do to be able to earn money was to work, and this feeling has stuck with me for the rest of my life as I am a hard worker now.
@dragon54u (31634)
• United States
20 Oct 12
Use it up, wear it out, make it do or do without. That's what my grandma taught me and that's what I practice. I recently bought a new sweater--my other was 15 years old and in tatters. I found another brand new one and what with the clearance price and a coupon, I got an $80 sweater for $2.14! That's my other bit of advice, employ the first bit and then never pay full price. I even got a discount on the birth of my two children by my husband paying cash!
Look up The Dollar Stretcher. It has volumes of great advice on how to save money, how to spend it more wisely and how to save.
I get an extra couple of dollars each time I go to the grocery, usually $5 or so, then store it away. It's always good to have some cash and it's a great way to save money if you can forget you have it. I'm good at that. Make it a rule to save at least 1% of your income and never touch it.
@GemmaR (8517)
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20 Oct 12
I agree that we should be wearing clothes until they are not fit to be worn anymore. I have some friends who just throw things away because they want to get new things, and that means that there is no way that they should be doing so because they are wasting clothes that could almost certainly have been worn again. The only problem with children is that they outgrow their clothes quickly, but certainly I will be making the effort to keep everything that still fits until it is no longer good to wear, and even then I will try to donate it to a good cause.
@prashu228 (37524)
• India
20 Oct 12
hi,
saving money and making it as a habit is always good, we can start a piggy bank ,one way of saving daily some amount as much as affordable, i think for children this works well, where as older people have to make up their mind , to do so.
@GemmaR (8517)
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20 Oct 12
I think that a piggy bank would be a good idea, and I could certainly try to do this for the children of the family. I think that having somewhere nice where they can put their money would mean that they are more motivated to put money inside it. I know that my parents taught me to manage my own money when I was younger and this meant that I went into my adult life understanding it and I certainly want to be able to teach my children to do the same thing. Hopefully with a piggy bank this should be a lot easier for them.