How to Teach Your Kids to Cut Household Expenses and Save Money

Cutting down on household costs is a goal for many families. It’s where you live and relax, so your home is most likely eating off a big chunk of your budget every month – it’s how it should be. Still, wouldn’t it be nice to keep a bit more of your paycheck next month, live the way you’re used to, and even get your family to help pull the load? Here are some pieces of the best advice we have heard and found useful on how to cut household costs for the whole family.

How to Teach Your Kids to Cut Household Expenses and Save Money - children writing image

Image source: Pexels

If your children are old enough, you should involve them in your finances by talking to them about it. It doesn’t quite cut it to simply say that times are tough or that you can’t afford something; they need the context that you already have.

Energy Savings

It is the most obvious one, so we better get it out of the way fast; a green household is a wealthy household, or at least a more frugal one. There are a lot of ways to saving money on your monthly energy bills without being too warm, cold or left in the dark. Now that it’s summer, you’re able to save a lot more than during winter, so you better get started.

First of all, keep the aircon off by keeping the heat out. A wide open window with curtains blowing in the wind seems perfect for summer, but it will only allow that cool inside air to disappear out into the humidity. Keep it closed when it’s at its warmest, even the shutters should be drawn, and any rooms you don’t use should also be closed off. You might spend your days walking around the house and closing windows after your family, so turn the aircon off, and you’ll see how easily those windows can stay closed on their own.

Give your oven a break; it deserves it. By focusing on cold dishes, you can involve your children more in the kitchen, too. Food full of colors, fruits peeled, cut and decoratively hanging out on a plate, is sure to get them interested.

When the bill arrives, show it to your children and give them an energy tour around the house. Point out the different expenses on the bill, what they mean, and what you can do as a family to make the household use less energy. Explain that there are more advantages to using less energy than financial ones; it will make the planet happier and give you all a better future.

A low energy bill means more money to spend on other things, as well as less financial worries. If the worries get the best of you, or if you have an unexpected and big amount to pay, it could be better to look at different ways of covering the debt initially. Get loan details here and make sure you read this article on questions you should ask before taking up a loan.

Grocery Savings

When you want to cut down on the amount you spend on groceries, you have an ocean of opportunities. Besides from using those coupons, and planning your weekly or monthly shopping ahead, you should also try to substitute your meat meals with beans and rice – at least for a day or two of the week.

Getting children onboard with this is usually not a problem, but if it is, a good advice is to bring them with you to the grocery shop. Not just to run around and be in the way of other shoppers; involve them in the grocery shopping, point out the prices on different products, and explain that you’re trying to save as much as possible.

If they are old enough, it’s a good idea to let them do a bit of the shopping once in awhile. Send your two oldest off together or make them bring a friend and a bicycle – just make sure to write a list and give them a limited amount of money. That way, they’ll be forced to manage the money when finding the right products and it will make them more aware of the prices, too.

Try to stick to the more budget-friendly grocery shops, by the way. The better you know a shop, the more likely it is that you’ll also know where their best sales are, how low you can go, as well as their in-store policies in general. The largest shopping of the month should be done when it’s relatively empty and when you’re not hungry or stressed – it seems obvious, but it’s a tough rule to follow.


A parent who manages his own budget is one thing, but that doesn’t mean your child is secretly watching and absorbing all of your knowledge. They need to learn these lessons too – and you should be the one teaching it to them. Giving them an allowance every week or month is something most parents find useful; it teaches their children the value of money as well as the skill of budgeting.

How to Teach Your Kids to Cut Household Expenses and Save Money - painted piggy bank image

Image source: Pexels

Some choose to give allowances after certain chores are completed, which may work well for some, but not everyone. It might end up teaching your child the wrong type of lesson; specifically that if they don’t get an allowance, they don’t have to complete their chores either.

Unbelievable as it might sound to us hard-working grown-ups, this is a deal that could be worth it to them. The bed will still be warm and cozy at night, and there will be dinner on the table in the evening – so why do these tedious tasks when all they have to do give up is a couple of dollars per week? The lesson they learn is not what you had in mind at all.

If allowances based on completed chores works for you, then continue with this system. If not, on the other hand, you should consider giving them allowances for the sake of learning how to budget and expect them to keep helping out at home nonetheless. Nobody gives you money for making your bed, taking out the trash or walking the dog; it’s just something we need to do.

Achieve Regular Financial Savings By Incorporating These Simple Tricks Into Your Life

Achieve Regular Financial Savings By Incorporating These Simple Tricks Into Your Life - piggy bank image


Regardless of your financial situation, wasting money is never advised. After all, you wouldn’t offer your business services to an employer or client for free. If you’re going to work so hard to maximize your earning potential, you’d be a fool not to do the same with your spending.

Of course, there are a variety of major life moments where you can save big by doing your research. However, mortgages and car purchases shouldn’t be your only concerns. Making positive steps in your daily life is just as vital. Here’s what you can do to unlock those savings to see your money last longer.

Become Eco-Friendly

Living a greener lifestyle has become a growing trend in modern society. However, the environment isn’t the only beneficiary. Simple ideas like cycling to work rather than driving or switching to LED light bulbs can soon start boosting your bank balance.

Likewise, improving home insulation and cutting down on household waste can work wonders for the cause. You might only save a few cents each day, but those small savings will soon add up. The fact that you’ll be living a better life in the process is only another incentive still.

Achieve Regular Financial Savings By Incorporating These Simple Tricks Into Your Life - green living image


Look For Direct Money Savings

The best way to save money is to do literally spend less money on your purchases. Haggling might be a dying art that is now restricted to the big purchases. However, the internet has opened up the opportunity to take another tradition to the next level. Learn to research your options, and you’ll find the best deals in no time.

Price comparisons can be useful for many services. Meanwhile, using printable coupons could make a huge hole in your daily spending. From clothes to groceries, spending less money on those regular expenses will soon make a huge difference to your life. Do not underestimate it for a second.

Do Things Yourself

The DIY game is a longstanding idea that can allow you to complete home upgrades and various chores without breaking the bank. Once upon a time, you had to boast skills, ideas, and the right tools. Nowadays, virtually anyone with the right level of determination can achieve those goals.

Online tutorials can show you how to fix various home problems, as well as other issues. Meanwhile, upcycled fashion and furniture is becoming a bigger trend than ever too. When combined with suitable care to ensure that those items last longer, your financial situation will look far brighter.

Achieve Regular Financial Savings By Incorporating These Simple Tricks Into Your Life - calculator image


Quit Expensive Habits

We’re all guilty of wasting money in this life. This could manifest itself in a number of ways, including gambling and smoking. Learning to rid yourself of those habits that offer no real benefit can work wonders for your health as well as your wealth.

Those expensive habits could also include throwing items away when they could be sold. Your trash could be another man’s treasure. In turn, it could mean a few extra dollars in your pocket. Even if you sell $50 worth of goods each month, that’s one less bill to worry about.


3 Ways To Inspire Your Child To Make Good Financial Decisions Through Life

3 Ways To Inspire Your Child To Make Good Financial Decisions Through Life - kid with money image


Time spent educating children is time that is never wasted. Unfortunately, despite school teachers and the school faculties best intentions, it’s difficult to fit in every lesson at school that it takes to become a responsible, sensible person in later life . Kids have a lot to deal with, not only growing up and coming to terms with their identity, but also increasing levels of responsibility as the years pass on.

Filling your child’s head with knowledge is fantastic, and will surely help them in later life. But giving them guiding principles to live by through inspiration and demonstration is more valuable than anything you can tell your kids. So how do you kindle this burning fire of curiosity that children seem to so naturally emanate? Here is a list of 6 different methods you can use to not only teach your child or pupils positive life lessons, but to bond with them as well.

  1. Take an interest in them.

Kids are naturally attention hungry, especially from those they rely on. If you water them with this special ingredient of available openness, listen to what they’d like to achieve in life, and stimulate a few ideas based off of what they say, you can really open their mind from an incredibly young age.

For example, let’s say your daughter says she’d like to ride horses and play with ponies all day when she’s older. Perhaps you could suggest she’d like to be a vet, and help all animals who are poorly feel better! Or perhaps she’d like to open a sanctuary for horses and donkeys. Sit back and watch as her eyes widen with excitement. Keep this up and she’ll start believing she can do anything, which, of course is absolutely true.

3 Ways To Inspire Your Child To Make Good Financial Decisions Through Life - image of an excited girl


  1. Help them envision their future life.

Helping a child envision their future life is something that is immensely beneficial to opening up their horizons. Of course there’s no need to come to concrete answers, and this exercise should be fundamentally fun. However, sometimes it’s great to stimulate their imagination. For example, you could ask what sort of pets they’d like as an adult, what countries they’d like to visit, or you could go to a website like Pink Realty to give them an idea of the house he or she would like to throw family parties in one day.

  1. Show them the benefits of saving money.

Kids are impulsive, and most adults are too. It’s a good idea to show them, through subtle, unintrusive ways, the best way to manage money effectively. You don’t have to sit them down and teach them the finer methods of understanding balance sheets, but perhaps giving them a small allowance to earn (if old enough,) and letting them spend it once a month only will teach them the value of saving in order to acquire higher value items, or replacing items they didn’t think they lost. You can also tell them in a way that will make them proud of you how your savings have helped you pay for unexpected bills etc, and they will slowly (hopefully) start emulating your habits in their teenage and young adult years.

These three combined steps will not only help your child begin good habits in a way that will bring you closer together and give them a slight understanding of how you run your family, but they will desire to emulate you. Kids are impressionable, so make sure to use this to their advantage.

This will hopefully provide the correct attitude that will stop them making big mistakes in adulthood. You can be sure then that you’ve covered at least some of the bases your tough job of parenthood requires you to address.

Save The Pennies Now For Your Children’s Future

All of us try to save as much money as we can, whether that be on the smaller things or the bigger things. When it comes to any aspect of saving money we look for the cheapest deals and the best promotions in order for us to live well, but to live frugally. With bills we will do research on the cheapest yet most reputable utility providers, with food shopping we will scout out what promotions and money saving offers supermarkets local to us have got on, and when we decide to socialise or go out for the day with the family we will, again, do research on the best offers and savings that are available. Our financial situation is something which is very important to everyone – a bad situation can lead to detrimental effects whereas a good situation needs to be tended to, nurtured and looked after so that we keep on top of our good financial state.

 Save The Pennies Now For Your Children's Future - jar of pennies image

Picture source

The state of our finances does not just affect us personally, though. If we have children then our finances can be paramount in our thoughts and actions, as we may want to save money and put some aside to help our children in the future. Every bit of spare cash that you have left over could be put into a savings account to benefit your children. If you were to put £5 a week, over the course of a year that adds up to £240. If you were to save this amount of money over a period of, say, 10 years that would add up to £2,400. And that is a nice amount of money to help your child when they decide to move home, go to university, buy a car etc.

If you find yourself in a situation which seems as if you may be nearing financial trouble, then it is not a good idea to panic and stress obscenely over your situation. There are places and professional which can help you, and all you will need to do is do some research on websites such as where you will be able to seek professional help, and this could allow you to calm down and reassess your situation in a positive light.

If you feel that your finances could be better, you could also write down all of the expenditures over a month that are necessary and then write down the expenditures which are not necessary. Then, work out whether you could save money on bills such as gas and electric, whether you are buying too much food when shopping (to find this out, take a look in the freezer: is there anything in there which you had forgotten about?) and whether you are being overly generous when socialising or out with the family. Looking after your finances is extremely important not just for the state of the way we live but also with the state of our mental health. Do all you can to keep your finances in check.