Thursday, September 14, 2017

5 Helpful Tips That Can Help You Save When Having a LARGE Family

You're at that point in your life where you are married with kids and happy, but struggling to afford it due to the large size of your family. With each child you have, your expenses increase and at times it can be hard to keep up. Believe it or not, there are things you can do to help with this struggle. Your bank at the Lake of the Ozarks would like you to know the following 5 helpful tips you can implement into your daily, hectic life to help you better financially handle having a LARGE family.

5 Helpful Tips That Can Help You Save When Having a LARGE Family

1. Recycle, Recycle, Recycle!

Recycle the items that you can reuse, such as:

  • Bunk beds
  • Cribs
  • Books
  • Toys
  • Cars
  • School Textbooks
  • Clothes

If you can't recycle these items, you can often find these products for cheaper prices online, on sites such as Craig’s List or eBay or even on clearance, in garage sales, or sidewalk sales.

2. Only buy what you need.

This one may sound obvious, but it’s important. It can be very tempting to buy unnecessary items when there is a new baby or for the first day of school, but it’s ok to resist. You will most likely receive many new things for your baby during the baby shower.

3. Save on medical and dental bills.

Teach your children the importance of dental hygiene, healthy eating and exercising. Feed your kids good, healthy food. Child obesity is a huge problem in the U.S. and these all are good ways to help prevent that from happening to your kids. Teach them to floss, brush their teeth regularly, get lots of fresh air, and to participate in fun, active activities with one another. This alone can help prevent costly dental and medical bills.

4. Consider various school options.

When you consider everything a child needs for school, supplies, sports equipment etc., it can get quite expensive. Private schools can be even more expensive. Consider public school or homeschool. Both options can be much cheaper than private school.

5. Change your mindset.

It’s ok for kids to share rooms. Children can work hard without elaborate birthday parties or fancy gadgets. When you teach your kids to be hard workers without over the top, materialistic things, they can be better for it in the long run. You can teach the true value of the dollar and your kids can then, hopefully, grow up into hard-working adults who support themselves rather than into spoiled, entitled people.

You Can Do It!

Again, we know the financial struggle is real, but you can do it. First Bank of the Lake is your local trusted bank at the Lake of the Ozarks. We understand how hard it can be to save, especially in rough times, but just by changing a few daily habits, you could possibly make a HUGE difference in your savings for your LARGE family. If you ever have questions about saving money, please call our bank at 573-348-2265.

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First Bank of the Lake - Striving For Excellence
Member FDIC. Equal Housing Lender.

Located at the entrance to the Osage Beach Premium Outlets!

4558 Osage Beach Parkway

Suite 100
Osage Beach, MO 65065

(573) 348-2265

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