Money saving tips for young families

It can be hard to stretch your family budget when you have toddlers, so here are some tips to help:

  1. Having another baby? You are entitled to free prescriptions and dental treatment while you’re pregnant and a year after the baby is born. Don’t forget to book in a dental check up before your child is a year old (easily done when you’re busy with a baby!).
  2. Shop around for financial products including home and car insurance. If you can’t find time to do that, phone your insurance company when your renewal letter arrives and ask them if they can give you a better deal.
  3. Shop around for gas and electricity too. Often the best deal is the web tariff, so you don’t even need to pick up the phone.
  4. Don’t let your old baby stuff gather dust, sell it now and use it to buy toddler stuff instead!  You can buy and sell at Netmums.com, eBay, car boot sales and notice boards at some Sure Start centres.
  5. Look up new recipes using seasonal ingredients. Seasonal ingredients are usually cheaper than ones that have been grown overseas, they are better for the environment and you’re supporting local farmers, too.
  6. Try planning your meals for the week before you go shopping. This saves you having to throw away food that has gone out of date because you bought too much. It also saves you from popping to the supermarket mid-week when you run out of food. That means you won’t be tempted to spend £20 more than you expected! Meal planning sounds a pain, but it gets much easier with a bit of practice.
  7. Check to see if your mortgage company will let you take a payment holiday for a few months.
  8. If you have credit cards and or accounts with home shopping companies, make sure you pay them on time. Once you’ve added up the interest and late payment fee, it can be surprisingly expensive. Check to see if your credit card company will take a minimum payment by direct debit – at least you won’t have to pay the fee then.
  9. Check out babybudgeting.com for loads more ideas for saving money when you have a baby.
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