Managing money – All about saving

Plan ahead: Some purchases can't necessarily be planned. The washing machine can fail without warning or the car may need repairs and a new purchase can no longer be postponed. Even here, it's good, to put money aside every month for emergencies, to avoid being surprised.

Communication: Talking to each other is important in every respect. But many fall silent when it comes to money. Talk about problems like a tight budget or differing expectations about saving directly. This way your child learns from the very beginning that money is not a taboo subject is.

Planning: A vacation, an expensive birthday present or a bicycle. It makes always sense, every month a modest amount to put aside, to be prepared for planned, larger purchases.

Keep an overview: Whoever knows what the money is spent on finds it easier to put something aside. Even if it's only small amounts per month that you save, over a year this quickly adds up to a considerable sum. When overview helps a household budget, in which you write down by hand your income and expenses enter, or apps for your smartphone that you can use together with your partner and into which you can enter all amounts.

Where to put the money? Storing savings

A household ledger or suitable apps are not only suitable for getting an overview of income and expenses, but also for putting money aside to save. However, many do not necessarily want to keep their savings in the regular family account. If the money is in a separate account, the barrier to spending it casually is greater and you think more about whether a particular purchase is really necessary. A savings account or a checking account, for which you set up a standing order or transfer some money every month. That way the money is available if needed.

Saving – but how? Tips for families

Check utility costs: Compare the offers for electricity, heating and telephone. Often you can find cheaper tariffs and providers here.

Plan meals: Create a cooking plan for the week and write a corresponding shopping list. This prevents too much ending up in the shopping cart and unnecessary leftovers spoiling in the fridge. It also eliminates the annoying evening question: 'What's for dinner today?'

Reduce energy costs: Unplug appliances, ventilate briefly, or turn off lights. The whole family can pay attention to this and the small amounts they save will certainly show up in the account at the end of the month.

Take advantage of family offers: Family days at the zoo or special prices for the leisure pool: Often there are special offers for families. Find out about promotional days and discount prices and plan your outings accordingly.

Opt for no-name brands: Just because you don't know the manufacturer's name of a product doesn't mean it has to be worse than the well-known brands. These products are usually placed lower on the supermarket shelf but have the same quality.

Compare prices: Pay attention to the price per kilo when shopping as well. You can often find hidden bargains here. However, buy bulk packs only if you can use them. Discarded food is not saved food.

Use bargains – with care: Buying something just because it's cheap rarely pays off. Before you decide on a promotional offer, you should check the quality. If you are not convinced, it is usually better to spend a little more to avoid having to buy the same product again after a few months.

Second-hand and flea market: Children's items in particular are good to buy here, since they aren't worn out because children quickly outgrow them. In addition, you can sell your old items yourself and bring some extra money into the family fund.

Library: Everyone has a few favorite books that help with falling asleep at night or bridge a rainy afternoon. Other stories, however, lie in the corner after being read once. Here you can benefit from the large selection in libraries: library cards for children are often free and you can look for new books together and read them. Another advantage: the child's room doesn't overflow with books and your child has a better overview.

Image credits

Family saves money in a piggy bank © MaaHoo Studio/Stocksy - stock.adobe.com

Family shopping at the farmers' market © Seventyfour - stock.adobe.com