10 Money-Saving Tips from a Financial Consultant

Homeschooling requires a number of personal sacrifices, and perhaps the largest area impacted involves finances. Thankfully, there are many small things you can do that can add up to make a big difference in your checkbook. Try these ten practical, money-saving tips based on Facebook posts from Trishia Herbst, a financial consultant at Tardus Wealth Strategies.

1. Choose a pre-paid phone plan for your teen. These plans can limit the amount of time teens can spend on their phone, while giving them a resource to reach you in an emergency and ending the constant barrage of requests for their own phone.

2. Follow the pantry principle. Keep a simple list with everything in your pantry and only shop to restock those items. Also, don’t head to the grocery store unless you have 10 items on your list. After all, frequent trips to the store typically mean more money spent.

3. Menu plan based on weekly grocery ads. If your meals are planned on sales, you’re guaranteed to save. Still, do your best to know the regular prices of your most frequently purchased items. Just because it’s in the ad, doesn’t mean it’s an outstanding deal. Also, take inventory before you go shopping. Although the promotion might be 3/$5, purchasing 3 may not be a requirement and could lead you to pay more than you need. Buying in bulk can also be a great way to save.

4. Lower/raise your thermostat. Set your low at 65 in the winter and your high around 80 in the summer and you’ll definitely see savings on your utility bill. If you’re too cold, add a layer. If you’re too hot, try a short cool-off shower or apply peppermint essential oil to your chest and the back of your neck. You can survive without an air conditioner! If you don’t believe it, just ask someone from an older generation.

5. Take advantage of free classics and use the library. Sure, it’s fun to own a few of your favorite books, but the library is free and it’s awesome! In addition, most classic books are available for free in a digital version because they’re old enough to be in the public domain.

6. Share with your friends. For family game night, swap games with other families. This way, you won’t get tired of the games you own, and you can experience new games without a purchase cost.

7. Swap babysitting. Especially if you have multiple kids, the cost of a babysitter can quickly amount to more than your meal and entertainment. Instead, swap child care with friends, so you both can be rewarded with kid-free date nights.

8. Take advantage of memberships. Consider saving up for a yearly membership to museums, zoos, and local pools. It usually only takes a few trips to make the extra initial cost worthwhile, and now you can go as often as you want. Many times, your local membership also gets you access to other zoos or museums. For example, over 300 museums worldwide are connected through the Association of Science-Technology Centers passport program.

9. Use a clothesline or drying rack. This is especially nice in the heat of summer when running the dryer can simply add to the heat in your house. It not only saves on electricity costs, but it also makes your clothes last longer. That lint you pull out of the dryer – it’s pieces of your clothing.

10. Explore car Savings. See if you and a friend can carpool more often by swapping turns taking your kids to dance or soccer. Also, make sure you’re getting a good deal on your car insurance by quickly comparing prices with other companies on a regular basis. It’s not that much work, and it can easily put some extra cash in your pocket.