In Africa women have 4.5 children on average, while in Asia the figure is 2.1 children, in Latin America 2.0, in North America 1.9 and in Europe 1.6. The high fertility rate is driving rapid population growth in Africa. Africans tend to have very large families and catering to the needs of the members of the family can be daunting task. Here’s five money-saving tips we have for you;
Sometimes we think more kids means we need more space and more stuff. But paring down your lifestyle and living simply is possible even with a large family, plus, it can save you a ton of money. Kids can learn to share rooms with each other, and neighborhood parks are great places for kids to run free. Teaching your children to value togetherness over extravagance won’t just keep your budget trim, but will teach strong core values.
Buy in Bulk
There is a whole lot of cash you can save by buying in bulk. Do the math to see if buying the item in bulk is actually cheaper than buying it at a discounted rate elsewhere. Always shop with a clear list in hand, and don’t stray too far from the list. You also don’t want to go and buy everything in bulk. For example, large amounts of produce or other perishables with not last, but buying toiletries and cleaning supplies in bulk is always a good bet.
Taking your large family out to eat can be a stressful experience, especially when your children are young. Also, it can be very expensive. Dining in whenever possible or at least limiting your eating out experiences to once or twice a month can save you a lot of money. You can still make your dining at home experiences meaningful and fun. Family traditions can be just as special as dining out.
Hand-Me-Downs and Thrifting
Your best bet for saving money on clothing is to buy gently used clothes. If you think about it, kids don’t wear clothes for very long (they grow so fast) so it stands to reason that lots of the used kid clothing available is in good shape. If you have a large family, hand-me-downs will also be a no-brainer. When you have to, some reasonably priced stores have discount racks and you can get lots of good deals online.
Stick to a Budget
If you are supporting a large family, you must stick to a budget. Keeping track of every dime you spend may sound tedious or exhausting, but there are several budgeting apps and online tracking systems that can help immensely. Most importantly, budgeting will keep you on track with your spending and will help you curb any excess spending. Many families who stick to a strict budget also find that they end up building up their savings and paying off debt.