Having a large family can be a financially daunting task especially for the middle class and lower class families.
Before now, especially in Nigeria, a man’s wealth is measured by the number of wives and children he has. Because it means many hands for his farm work. Nowadays, the idea of wealth has changed and having a large family could be really financially demanding.
Well, you know what it means to have to cater for a large family, thus, the article on how to save money in a large family.
1. Spend on needs
Having kids wanting ice creams and chocolates is inevitable. But they are only wants and kids don’t really need ice creams and chocolates at least not all the time they ask for it. Spend only on necessities like clothes, shelter, home cooked meals, books, tuition fees and all that they need. But indulging them by spending on their wants and desires would only make it difficult to save for rainy days.
2. Buy secondhand things
Yes, it saves money. Thrift stores have durable and nice commodities. You can patronize them for cloths, shoes books and other household effects of which they sell at a far lower price compare to malls selling brand new commodities. Moreover, many of these secondhand commodities are as good as new.
3. Stay at home and have fun
You mustn’t eat out, go to the cinemas or hang out outside the house. These only gets you broke. You can make home fun by doing at home what you go out and spend lots of money to do outside.
You can have special dinners, watch movies and play fun games in the house. This saves cash and even keeps the family closer.
Large families consume more and that means more spending. You can save plenty of cash for the house if you do more of the aforementioned tips.