By Brooke Chaplan
According to the US Census Bureau, the average household is made up of only 2.54 people. By comparison, the average household was 3.33 people in 1960. While the average size is trending downwards, large families are still quite common in some communities. If you have a large household, you may be looking for ways to save money while still providing for your whole gang. Here are some tips to get you started.
Take Advantage of Bulk Discounts Everywhere
Whether you’ve been surprised by multiple pregnancies, or your parents have moved in, a larger group of people can sometimes find excellent bulk discounts when shopping. Everything from amusement park admittance tickets to restaurant meals may be able to be negotiated for a group. If you don’t have comprehensive vision or dental insurance, some doctors will also give a group discount for the whole family to be checked over at once. It doesn’t hurt to ask, and it could save you a ton of money.
Start Discount Shopping Ahead of Schedule
If you frequent big box stores, second-hand shops, or bulk outlets, start stocking up for the future when you see good deals. For example, if clothing is on deep discount, buy ahead of your needs. This is especially vital if you have children that are still growing.
Knowing you have bags of clothes and shoes put away for during and after their next growth spurt can make you feel a lot more prepared and save you money in the long run. This will also save you the scramble of paying full retail if your kids grow out of their current wardrobe overnight. You can do the same with shelf-stable foods, cleaning supplies, and hygiene products if you snap them up at a deep discount.
Run a Tight Ship
In households with many people, it can sometimes be difficult to keep everyone informed, which can lead to financial losses. Consider a family-wide messaging system using email or group texting. For example, if the code for the security system is changed, make sure everyone knows the new code to avoid a needless false-alarm charge. Programs like Northstar Alarm Reviews will send a message automatically if any changes have been made. Use a whiteboard to note which snacks are up for grabs due to an impending expiration date. Set up a mail system so bills don’t get lost in the fray. Communicate to avoid waste and confusion for everyone.
Know When Recycling or Reusing Isn’t Appropriate
For those who have a large number of children, the urge to reuse and hand items down can be overwhelming. However, with some things, handing them down can actually cost you money. For example, some sports equipment molds to the body and shouldn’t be used by other kids. Shoes that have been worn for any length of time should not be reused, as this can lead to medical issues with your child’s feet and toenails.
Leather items like baseball gloves mold to the player’s hand and shouldn’t be passed down, as a used glove can cause blisters or not protect your child’s fingers correctly. Leather horse-riding boots have the same issue. When handing down some musical instruments, a new mouthpiece may be necessary to avoid issues with teeth. This is especially true for instruments like clarinets, where the mouthpiece can be notched to a specific child’s upper teeth over time.
Be careful with handing down items that tend to mold to a child’s body, as the small injuries that can result eat up any savings quicker. A chipped tooth, ingrown toenail, or skin infection will likely cost a copay larger than the cost of the item in question.
Saving money when you have a large household can be a challenge, but by using these tips, you can make smart financial decisions and keep spending under control.
