Simple saving ideas
for the whole family
You eat together, play together and live under the same roof –
so why not save together?
While many parents bear the brunt of their
brood’s finances, it’s a good idea to consider
making household saving a family affair by
involving kids in the process.
With the cost of living on the rise, many
Australian families are finding it hard to keep
up with today’s growing list of expenses.
Groceries, petrol, mobile phones, and kids’
sport – the bills just keep adding up.
goals will help you to prioritise what’s
important for your family now and into the
future. Get your kids involved by asking them
what they hope to achieve this year. If funds
are tight, prioritise the list together by
working out what is most important to make
sure they don’t miss out.
Simple saving ideas for the entire family :
2. Be a positive role model
Kids form many of their habits and attitudes
early on by watching their parents, so it is
important that you demonstrate good
financial practices whenever possible. Using
lay-by rather than relying on credit cards will
show your children that you should only
purchase what you can afford. You can also
teach your kids to be savvy spenders by
showing them how to shop around for the
best price. Modelling positive financial
decision-making will help your kids avoid the
dangerous path of debt later in life.
1. Plan for the future
A goal without a plan is just a wish, so it’s
important to take the time to sit down as a
family and discuss your financial priorities for
the year ahead. Whether you plan to buy a
new family car, have an overseas holiday or
upgrade to a bigger home, establishing clear
3. Spread the load
Kids should be made aware of how their
actions impact on household finances early in
life. While younger children shouldn’t be
expected to make financial contributions, they
should be able to contribute around the
house. Simple measures such as turning off
It is never too early to teach your children
about money, shape positive habits, and
instil valuable life lessons. By getting the
whole family on board, not only will you
help your kids develop into money savvy
adults, you’ll also play a helping hand in
creating a more prosperous future for you
and your spouse.
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