It’s no secret that times are tough, and families are finding it harder and harder to make ends meet. With the state of our economy, everyone’s personal finances seem to be uncertain. Here are five things that you can do without that will add up to big savings when it comes to your family budget.

1. Cable or Satellite TV- Sure, it’s a nice luxury, but do you really need all 500 of those channels? Have you even watched every one of them? If you were totally honest, the answer would be no. You may not want to hear it, but you’ll save the most money by canceling your TV package altogether. You can still get important national and world news from the daily papers in addition to online news sites. If there is a game or event you can’t miss, arrange to watch it at a friend’s house or get a group together at a local bar or restaurant. Instead of watching TV, spend time with your children playing games or watching movies as a family. Making these changes can save you upwards of $600/year.

2. Entertainment- Going to the movies with your family may sound like a great idea at first, but by the time you’ve purchased tickets for four, popcorn, drinks, and candy, you’ve easily dropped $40. Instead of watching movies in the theatre, sign up for a home delivery movie rental program like Netflix or Blockbuster Online. Memberships start at only $4.99/month- they’ll deliver movies directly to your door without any late fees! Establish a tradition of movie theme nights and let each family member pick a movie for each genre.

3. Dining out- Did you know that the average middle class American family spends up to 44% of their budget on eating out? It doesn’t take a mathematician to figure out how eating more meals at home can yield significant savings. While it’s understandable that you won’t be able to prepare a home cooked meal every single night, aim to only go out to eat for special occasions. This applies to lunch as well- bringing your lunch to work each day can save you at $25 per week on average.

4. Retail clothing- In times like these, there is no shame in shopping clearance racks and thrift stores to clothe your family. In fact, it’s almost wasteful to spend money on new, fashionable clothing on young children, especially when they can have growth spurts monthly. Start a clothes swap among parents in your neighborhood or ask your family members to pass along used staples like winter coats and dress clothes. By the end of the year, you will easily have saved $1000.

5. Landline- By combining your home and cell phones you can eliminate one entire monthly bill. Sign up for your service provider’s family calling plan and share minutes between your spouse and children. Downgrade your existing monthly plan to a lower level and eliminate extra features such as Internet and text and picture messaging.

There are a number of things you can do to save your family extra funding, consider these five easy recommendations as a starting point.

Posted in Home Budget

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