Having a family is not cheap, for dual parent families it can cost in the region of $70,560 on housing and $37,620 on food, this is even before you consider healthcare costs and saving for college education. If you don’t have insurance and you or your child gets sick, bills can soon increase and if you don’t save towards your children’s college education they could be saddled with debt worth thousands of pounds.
New research from online coupon and money saving site Coupon Dash shows that many families are now sacrificing little luxuries to be able to afford healthcare and education for their children. The article shows what American families sacrifice to pay for escalating healthcare costs and tuition fees for their children.
The study showed 52% of people cut out going for meals out to make savings, to be fair this is probably a nonessential for most of us. As lovely as it is to go out for a nice meal instead of cooking, it’s just one expenses many cannot afford. If you’re savvy though you can look for offers and coupons for money off local restaurants. Sign up to your favourite eateries newsletters or keep on top of their social media to get deals, so you can at least treat yourself once in a while.
Gadgets, we all love gadgets, whether it’s the latest iPhone or tablet, a time saving device for your home or some technology you probably can live without. However 49% of people sacrifice new gadgets to save money. The best thing to do is look at something and ask yourself do you really need it. Sometimes try living without the latest gadget and see how long you last, you might be surprised.
Shopaholics be warned, if you want to save money for your family, you will have to cut down on your clothes shopping like 48% of US families. Don’t get us wrong, sometimes new clothes are a necessity, when your old stuff is worn out, or you need something for a special occasion. What you need to ensure you stop doing is buying clothes just because you like it/it’s on offer, and letting them sit in your closet tags still on. Only buy what you need and only buy when on sale or on offer. So keep a look out for coupon codes before you buy.
Sometimes it does seem like you just work to survive, especially if you have to cut out little luxuries to be able to afford the necessities. However, by being a savvy shopper and cutting out here and there, you should still be able to treat yourself every once in a while and still keep on top of healthcare and education costs.