An emergency fund can save your family’s bacon when an unexpected expense comes your way. But it’s not always easy for the average family to set aside cash savings when you’re already paying more for groceries, utilities, and kids’ clothing.
In an emergency, an online line of credit can fill in for these savings. You can withdraw against your limit to cover an unexpected dental emergency or car repair and pay it off in increments as you get the money.
But the line of credit experts at Fora Credit recommend using online loans only in true emergencies, when your savings fall short of what you need. In other words, you should treat a line of credit as a safety net and focus on building an emergency fund ready for the unexpected.
So, let’s not waste any more time. Here are some simple ways your family sock away savings.
Lean into Subscription Fatigue
At first, streaming services seemed like a convenient and cheaper alternative to cable. But now that you have several different subscriptions, it’s not so simple. Add to that the sheer amount of choice available on each streaming service, and you might be sick of it all.
What you’re feeling is subscription fatigue. It’s frustrating that you need multiple services to watch things, especially as account prices rise with inflation.
Accepting subscription fatigue can be a boon to your family’s budget. Slim down to just Disney+, or if you can’t decide which one to use, consider staggering your subscriptions so they never overlap.
Batch Cook Your Meals
As a busy mom, you don’t always have the time or inclination to cook dinner. But when the alternative is costly takeout, drive-thrus, or restaurant dining, your budget can’t sustain eating out.
Batch cooking your meals is a simple hack that saves money.
Batch cooking involves preparing multiple large, freezer-friendly meals all at once, whenever you have the time. You can pull out these meals at night to reheat them for a homemade meal in a fraction of the time.
Embrace Meatless Monday Every Day
You’ve heard of meatless Mondays. Now, let’s try for meatless weeknights. A new survey shows that the average vegan and vegetarian saves $23 less on food each week than meat-eaters. More research reveals vegan meals are 40% cheaper than those that include meat and fish.
While there are many meat and dairy replacements on the market, you’ll get the best bang for your plate by sticking to legume-based meals like the ones found here.
Find Free Winter Activities
A simple family outing can cost a fortune after the cost of transit, admission, and everyone getting a snack. To avoid these costs, you might think you can’t be one of those families that does things together. But not only is that unrealistic, it’s not true either.
There are plenty of fun and free activities your family can do this winter. Swap out your usual expensive entertainment for zero-cost experiences:
- Bundle up and go for a wintry hike
- Build snowmen in the yard
- Visit your local library for special events
- Host a weekly board game night
- Take advantage of free admission programs from museums and art galleries
The Takeaway:
Building an emergency fund can seem daunting, but you can save more than you think with small changes to your family’s habits. Cut back on meat and cancel streaming services — these tips might help you rely on a line of credit less often.
