10 {Fun & Easy} Money Tips for Families
As a parent, we understand you’re always on the go. You don’t have time to read a 1500-word blog post, especially on something as unexciting as money. We get it.
That’s why, in honour of Family Day coming up in Alberta, we’re sharing our quick and easy ways to make money exciting once again for your family. No long intro, no lengthy paragraphs―just 10 fun money tips for your family to try this month and continue for the rest of the year.
Here you go!
- Have your children help with meal planning so they can choose their favourite foods, feel more responsible, and help cut costs by only buying the food you need.
💡 Create a recipe book with all of your family’s favourite budget-friendly recipes so meal planning gets easier as time goes on!
💡 Try cooking for more than just one meal so you have leftovers the next day!
- Go “treasure hunting” with your family at local thrift stores and buy clothes second-hand instead of full price at malls.
💡 Walk in with an allotted amount of money per person to spend and have a contest to see which family member walks away with the best finds!
- DIY parties, cards and gifts with your kids’ help.
💡 Spend a day getting crafty with your kids by purchasing items from the nearest dollar or thrift stores and making as many decorations, cards and gifts as possible!
- Put extra money into a separate savings account that excites your family, whether that’s a trip, new TV, repainting the kids’ rooms, etc.
💡 Break your goal into bite-size sections to not feel so intimidated! If you’re saving for a family trip, do research together to estimate how much it will cost and then break it down even further into smaller savings goals like hotel savings, food savings, admission savings (for things like parks and museums), travel savings, spending money savings, etc. Once each goal is reached, find a small way to celebrate as a family (like watching a Disney movie if your goal is to visit Disneyland).
- Kids like visuals, so create a chart together with your family’s financial goals to track your success.
💡 Get creative with your financial goal tracking! Add a loop to a paper chain after each dollar increment is saved or print off a photo of your savings goal (like a picture of Disneyland) and have your kids colour in the picture as you get closer to reaching your goal. Other fun ideas include building a “savings” tower with LEGO or using a sticker chart.
- Go on a phantom energy-sucking scavenger hunt with your kids before bed to make sure lights are turned off, unnecessary items are unplugged, windows and doors are shut to save on utilities.
💡 Make sure to update your kids each month on your family’s bills so they understand the cost of utilities, water, and heating! This will help them develop an appreciation for the services and will encourage them to try saving even more money the next month.
- Start a family spending allowance to keep on track.
💡 Whatever money you have leftover at the end of the month, decide as a family what to do with it! Should you put that money into your financial goal savings account or do something fun with it together?
- Find ways to make money as a family and direct the money you make towards your family’s financial goal.
💡 Services like babysitting, lawn mowing, snow removal, dog walking, dog poop pick-up, weeding, pet sitting, etc. are great ways to encourage responsibility in your children!
💡 Purge your belongings together and sell them online or through garage/yard sales!
- Make use of free options around the city.
💡 Read for free with Little Free Libraries or your local public library!
💡 Libraries can also offer movies, computer time, toys and games, as well as free programs for people of all ages!
💡 Honestly, Google is your friend here! Do a bit of research for free family activities in your city―you’ll be surprised at what all you’ll find.
💡 When in doubt, head outdoors! From tobogganing and snowman-building to hiking and ice skating, there is so much to do on a budget outside.
- Teach your kids about money early so they get a better financial foundation. Some fun ways to do this are:
💡 Play “banker” with your children if they’re young! Give them Monopoly money for the weekend, which they’ll use to “buy” meals, outings, movies, playtime, etc. They can also earn money for extra chores, donating old toys, etc. And if they have any money left over at the end of the weekend, consider giving them that amount in real cash to put into their piggy bank or congratulate them with a small gift.
💡 Play board games like Monopoly or The Game of Life to teach your kids about money at any age!
💡 Download our free financial literacy activities and worksheets geared towards K-12 students!
