How to save a family budget


Planning a family budget can be a real challenge, but there’s no escaping it if you want to finally improve your financial situation. And today we will share practical tips that will help you reduce costs and manage money effectively without unnecessary complications. We will also tell you how to make free money bring passive income.


Why do you need to do home bookkeeping?

Doing bookkeeping at home can seem boring or complicated, especially when you already have so many different responsibilities. It’s true: the first time you have to force yourself to write down income and expenses. But it is really worth it, and you will notice real changes in your life in one to two months.

Firstly, home bookkeeping will give a clear picture of the state of the family budget. Accounting for income and expenses will show you exactly how much money you have, how much you spent and how much you have left. At this stage, shocking discoveries await many. For example, that a third of the salary is spent on sweets.

Secondly, with the help of home accounting, it is easier to manage family expenses. By knowing exactly where the money goes, you can avoid unnecessary spending. So the family will have free funds.

Thirdly, a competent approach to money will help close debts and loans. Accounting for finances shows how much you have already paid and how much is left. You will be able to redistribute cash flows and close debts faster without unnecessary overpayments.


Fourth, you can afford more. When finances are in order, it is much easier to set goals and achieve them. Now you will know that you can go on a trip in 5 months, and not “someday, when there is money.” This is the meaning of financial accounting – to distribute income so that there is enough for everything.

How can you save money on your family budget?

When it comes to saving, many people imagine serious limitations. But this is not at all necessary. You can cut your daily spending without changing your habits. Here are expert tips on how to save money in major spending categories.



Products and deliveries usually take up a large part of the budget, so this is where you need to start optimizing. Don’t worry, you don’t have to buy low-quality products to save money, but here’s what you can do:

  • Plan your menu ahead of time so you don’t end up in front of an empty fridge in the evening. In such a situation, impulsive purchases or orders from a cafe cannot be avoided.
  • Make a shopping list. The main thing here is not just to write everything down, but to strictly adhere to the plan.
  • Check out discounts and promotions. If your familiar product is cheaper today, stock up.
  • Choose shops with low prices. Often the cost of the same product is very different in different retail chains. Do not ignore the small food tents, there are also interesting offers.
  • Use grocery deliveries instead of weekend shopping. When you’re in the store, extra items literally jump into the basket on their own. Try to place an order in a relaxed home environment – this way you will avoid the tricks of marketers who force buyers to take everything they see.

We do not recommend changing your grocery basket drastically. Refusal of familiar things will cause negative emotions, and you will quickly stop doing bookkeeping. Therefore, it is quite simple to optimize purchases.


Discard unnecessary subscriptions and services. Analyze your monthly payments, for example, for online services, mobile communications, Internet and TV. Maybe you have extra subscriptions that you don’t use much or can swap out for cheaper alternatives. For example, many habitually pay for hundreds of cable channels, although they turn on the TV only for the sake of the chimes on New Year’s Eve.


Plan your vacation and entertainment. For example, early booking of tickets and vacation hotels is significantly cheaper. Find out about free events in your city. Now thematic fairs, gastronomic festivals, sports activities such as races or collective bike rides are popular. In addition, free events are arranged for all major holidays.



Save on utilities. Keep a close eye on the use of electricity, heating, and water in your home. Turn off lights in rooms when not in use, adjust thermostats, install energy-saving light bulbs and appliances.



Take a piece of paper and write down all your loans with the interest rates they are charged at. The debt that is costing you the most should be paid off first. Send all available funds there. When the loan is repaid, do not relax. Use the same monthly payment to pay off your next debt ahead of schedule. This way you will close your obligations faster.


Remember that every dollar you save counts. And these simple tips will help you easily optimize your family’s budget.

What not to save money on

When you start optimizing expenses, free money appears that can be spent on various pleasant things. Sometimes it is so inspiring that people get excited and start saving on literally everything. Don’t fall into this trap and cut spending too much. Limiting the budget in some areas will do harm, not good.

Here are the expense items that you should never save on:

  • Food quality. Above, we have already said that you need to buy the usual food. You can save on fast food, but the basic menu should consist of fresh and high-quality products. Otherwise, it will take a long and expensive time to treat the gastrointestinal tract.
  • Health. Do not put off going to the doctor or buying necessary medicines in order to save money. You know yourself that health is the main thing, there is nothing even to discuss.
  • Education. This is one of the most important investments in the future. The acquired knowledge opens up new opportunities and increases your demand as a specialist.
  • financial security. Continue to save money in the “airbag”, make savings, insure yourself and property. These expenses are part of financial planning and cannot be cut.

These areas are important for the well-being of the family. Invest in them wisely and spend money when necessary. Competent saving is not about limiting yourself in everything, but a reasonable approach to spending.


How else can you optimize your budget?

If you have already learned how to save, it’s time to move on to the next step and think about how to increase income. This will allow you to achieve your goals faster, as well as create savings.

We will not advise you to change your job to a higher paying one or find a part time job. Such serious decisions are not related to the optimization of the family budget, and they need to be made deliberately.

And here are some non-obvious tips that will help you get additional income without drastic changes in your life:

  • Make tax deductions. If you work officially and pay personal income tax, it can be returned for some expenses. For example, for the purchase of real estate, treatment or education. If you have visited a paid doctor or taken courses, you can already claim a deduction for yourself or your children.
  • Find out about available support measures. Many are not ready to apply for the benefits due to them due to the fact that they will have to run around with certificates and papers. But now everything has been simplified, and often an application can be submitted in a couple of minutes at the State Services. You may be entitled to compensation for utility bills, free meals for children at school, or benefits. Find out more about them and apply in order not to lose money.
  • Invest free funds. If you keep money in regular bank accounts, they don’t work. Although they could bring you additional income. Consider investing in securities, precious metals, or other financial instruments. So savings will work, and you will receive passive income.

If you do not have time to study the topic of investment on your own, use ready-made solutions. For example, programs of investment and accumulative life insurance (ISZH and NSZh).

If you haven’t used ILI and ILI before, we recommend starting with short programs. They help you quickly appreciate all the benefits of these products.

And to get acquainted with the HOA, we offer the Smart Plus program with a guaranteed income of 12% per annum (the rate is current at the time of publication of the article). It is for 3 months. Here’s how it works:

1. Sign an agreement (can be done online).

2. Deposit money (from 100 thousand to 3 million rubles).

3. After three months, you take the entire amount with interest.

And if you urgently need money, you can withdraw it ahead of schedule under the Smart Plus agreement.

Please note: ” Smart Plus ” is easily issued online, you only need a passport. It is very comfortable!


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