Single Income Family: Stretching Your Budget with 5 Easy Tips

There are a lot of families that are living with just one single income. It is definitely a hard way to live, but everything is possible if the whole family is working hard and does their best to save money. If you still struggle to find ways how to stretch your budget and avoid spending money where you can save it, I'm happy to share my top 5 best tips. It will definitely let you relax a little bit more and save money easily.

Shop for Value

It might sound weird and hard, but if you decide to keep yourself in a budget and stretch it, you should reconsider your shopping habits. The first thing you should think about is to shop for value, rather than quantity. It is much logical to buy stuff that will last longer and won’t need to be replaced soon than shop constantly for the same things over and over again. On the other hand, you should also shop for value and try to get as much as possible for a single dollar you spend. For instance, join a warehouse or shopping club and buy in bulk. Purchase clothing, furniture, and household goods only when they are on sale. Consider buying used cars and appliances and you will see – your budget will be stretched and bigger right away.

Shop with Coupons

Another way how to shop much cheaper and without much of additional effort is to look for special coupons. Couponing is great because you don’t need to wait for sales, clearances, etc. and can receive discounts no matter when and where. Also, along with coupons, you can save money on absolutely everything: from renting a car to shopping for food. So definitely consider couponing as a way to stretch your family budget more. You can find coupons and vouchers online at voucher sites like the Voucher Badger website.

Eat At Home

If you used to go eating at some fancy restaurant, definitely choose not to do that if you want to save money. Eating at a restaurant is great for some special occasions. But if you struggle with money on a daily basis, it is much logical to stay at home and cook your meals by yourself. But let’s not be so strict. You can definitely pamper your family by eating out. Just order meals without liquor and desserts. That you can easily eat at home. The bill afterward will be smaller for sure. I can guarantee.

Put Cash Aside

Another great way to stretch your family’s budget is to have a place (a box or a jar) where you can put cash aside. This is not only a nice way to save money for some bigger purchases, but it can also be a nice game too. Think of new ways how to make the whole family put money in that jar. Like penalty dollar for swearing or not doing chores. Everything works if you think of creative, fun, but frugal ways how to increase your savings. So include your whole family and put cash aside in a fun way.

Shop with a Budget

Finally, if you want to stretch your budget, you need to make a primary budget on things you want to purchase. And strictly keep on it! It is very important to never spend more than planned. Otherwise, the whole stretching budget thing will be useless. So write down your budget, with specific categories of spending, and stick to it. After some time of using it, you won’t even notice that you are letting yourself spend only some amount of money.

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