If you’ve watched the news at all lately, you will be aware of the economic turbulence facing almost every country on the planet. It’s important for all of us to protect our families and ensure they are well cared for. What follows is a quick discussion on some ways to tackle taking care of our families during these difficult times.
Buy used goods whenever possible.
Rather than paying full price for things like clothing, sports equipment, etc., buy them used. Thrift stores such as Salvation Army or Value Village can be very great resources. Online Marketplaces in your local area can also be very useful as long as you have a vehicle so you can travel to pick up the items you need.
Pause before spending and ask yourself if you really need it.
Protect your family finances even further by taking a minute or two before making purchases to really determine if you actually need what you are buying. If you just want it, but don’t need it, add it to your wish list. When times get better, buy it at that point if you still want it.
Shop at more than one store when you grocery shop.
It would be so wonderful if we could just go to one grocery store and get everything. Unfortunately, it’s not nearly as cost effective to just shop at one store for most of us, as regular priced items are just too expensive these days. I shop at at least four different stores in order to take advantage of the best deals. This is time consuming but it saves my family a lot of money because I can take advantage of the best deals offered at each store, rather than paying full price for almost everything.
Talk about finances as a family so everyone understands.
You may need cut back on things like eating out, attending sports games, etc. for a while due to the tough financial times. It’s a good idea to be open and honest with your family members so they understand why things might be different for a while. Other members of the family might have some ideas for ways they can help, too. Stick together and your family will get through this more smoothly.
Replace expensive family fun with less expensive or free entertainment.
Your family doesn’t have to stop having fun just because the entertainment budget has been cut. It’s just a matter of finding things to do together that don’t cost much such as a family trip to the beach on a nice day, a family movie night at home with home-made popcorn, or a hike on a nearby trail. If your family enjoys playing board games, this is also a great option for spending time together.
There are a lot of other ways to protect your family’s finances, but the main takeaway is that you shouldn’t pretend everything is fine and continue spending the way you did when things were easier. It’s best to acknowledge the situation, face it realistically, and make sure your family is on board. Like I said, you will get through this, but it’s not always going to be easy, and it’s best to be mindful and make wise financial decisions in order to protect your family.
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