Having a big family can be awesome. However, it can also be expensive, particularly with today’s high cost of living. Therefore, managing your finances is especially important for those bigger families as you will inevitably have more outgoings every month. The good news is there are always ways to save money, even if you have a larger family. Depending upon your current habits, you could have the potential to save hundreds of pounds. Here, you’ll discover some big saving tips for big families you can take advantage of right now.
Check if you’re entitled to child tax credits
Did you know child tax credits can potentially provide relief for over £1000 per year? Whether you are unemployed or whether you’re working and classed as having a low income, you could be entitled to help from child tax credits. This type of benefit is paid to families in order to help cover the cost of child expenses such as school trips and clothing for example.
Save on entertainment
A major expense for big families is the cost of entertainment. Going out for a meal or spending a Saturday afternoon at the cinema could be very expensive for families with more than two children (or in my case, one!). Instead, families can enjoy indoor activities like arts and crafts or board games that would also give you valuable family time together. Another option is applying for free tickets to local TV recordings. These are fun to watch, offer something different and are perfect for the entire family.
Save on energy bills
Another big expense that big families face is the cost of energy bills. At one time, there wasn’t much you could do to save money on energy, but these days there are a lot of different ways to cut back the costs. Switching suppliers is one of the easiest ways to save potentially hundreds of pounds. Different suppliers offer different prices and it’s easy to make the switch online.
The final tip to save big, is to make sure you shop around for the best deals. This applies to everything from groceries to electronics and even lenders. When searching for credit for example, comparing the different lenders is key. This not only could help you save money, but also ensure you’re getting credit from a reliable source.
As you can see, there are lots of ways your family can save. If you follow the tips above, the savings you could make are substantial. The internet is a great source for information, so if you’re looking for even more saving tips, make sure to get researching!