Saving money as a family doesn't have to be boring!

Parenting

Pinching the Pennies: Frugal Money Saving Tips for Families

August 5th, 2022
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The cost-of-living crisis has placed financial pressure on thousands of households throughout the UK in the last few months. With the cost of everyday essentials like food, fuel and energy rising, many people are wondering how to save money as a family.

With the cost of living looking like it’s only going to continue to rise, now is a great time to re-evaluate your household finances and look for ways to save money wherever you can.

To help, we’ve compiled an ultimate guide of our top money saving tips to help you and your family cut the costs this year. From how you can reduce the cost of your food shop, to free family activities and much more, read on for our money saving tips for parents and carers.

Our guide covers…

1. Save on Your Household Bills
2. Save Money on Your Food Shop
3. Where Can Children Eat Free?
4. Free Family Activities
5. Foster Carer Discounts
6. Seeking Support from Foodbanks

A person calculating their bills.

Save on Your Household Bills

When it comes to saving money on household bills, house modifications like insulation or solar panels are usually the first port of call.

However, adjustments like these can be expensive and time consuming – making them less than ideal during a cost-of-living crisis. Fortunately, there are a range of short-term money-saving solutions that will help reduce the overall cost of your household bills.

From advice on how to negotiate your bills, to smart meters and much more, these affordable, easy tips will go a long way in helping families across the UK manage their bills this year.

See whether you could save on your household bills here.

A supermarket interior.

Save Money on Your Food Shop

Food is one of many everyday essentials that has seen a drastic rise in the past few months. Shoppers across the UK have been shocked by the rise in grocery prices this year – more than 20% – with many having to cut down on their intake of certain foods.

However, there are a few ways that shoppers can keep costs down without sacrificing the foods they love. In our guide to saving on food shopping, we take a look at the psychological element to Supermarket advertising – and how being aware of this can save you money. We also look at other Supermarket hidden gems, such as the World Foods aisle.

If you’re looking for single parent money saving tips, or if you’re a larger family, be sure to read how to save some money on your food shop.

A child eating a meal.

Where Can Children Eat Free?

Alongside saving money on your food shop, there are plenty of restaurants offering Kids-Eat-Free deals for families with hungry tummies to fill.

With the approach of the holidays, families are working hard to keep the kids entertained. However, this can be tricky – especially given the rising cost of living.

For those saving money 2022,  there’s nothing better than free food! Eateries throughout the UK are currently offering free or discounted meals for children and young people. From pizza, to sushi, to IKEA’s famous meatballs, there’s plenty of choice!

Take a look at where children can eat free this summer.

A family on a walk.

Free Family Activities

Despite the cost-of-living crisis, spending time with the family doesn’t need to break the bank.

Our brilliant guide of the top 10 free family activities is perfect for keeping the kids occupied this summer. These activities are fun for the whole family, costing you nothing but time – and maybe a few craft materials from the kitchen cupboard!

Whether you’re after a Geoaching adventure, or a cosy camping night in, there’s lots of ideas to keep you busy.

Read about free family activities that are being held all over the UK.

A wooden model of a family house.

Foster Carer Discounts

Foster carers dedicate a lot of their time to caring for others, helping to transform the lives of vulnerable children for the better.

At Compass, we understand that raising a child in the UK comes with various financial implications. That’s why we pay all our foster carers a fostering allowance that far exceeds minimum rates.

But during these trying times, we want to make sure that all our foster carers are making the most of the discounts and benefits available to them.

These benefits and discounts come on top of the support and benefits we offer at Compass Fostering, aimed to help ease the strain on your wallet during these trying times.

Have a look at all the extra benefits you could receive as a foster carer here.

A foodbank box.

Seeking Support from Foodbanks

While these money saving tips ought to help in lessening the financial pressure placed on many households right now, it’s important to be aware of the kind of support available to those who need it.

Foodbanks are an essential support system for households who are in crisis. However, many are run by local communities or non-profits, meaning they rely on donations to operate.

If you’re wondering how Foodbanks work, including what you can to do support your local foodbank, read on to find out.

Find out more if you’re wondering how foodbanks work, including what you can to do support your local foodbank.

There’s no denying that times are tough for many families across the UK. Hopefully these tips for saving money as a family go some way in helping to ease the strain on your wallet. However, it’s important to seek support should you need it.

You can find out more about getting help with the cost of living here.

At Compass, we want all our foster carers to feel supported and looked-after throughout their fostering journey with us. We understand that this is a difficult period for many, and will do everything in our power to ensure our carers receive the right support.

If you’re a Compass foster carer who is struggling during this time, please approach your Supervising Social Worker with any concerns you have. They will be able to advise you on the best next steps to take.

Alternatively, if you’d like to find out more about fostering with Compass, get in touch with us here.

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