How Families Are Dealing with Today’s Economy

Today’s economy is quite pricey, with families having to learn how to cut corners in every aspect of life. My family has four individuals, myself, my husband and two children. We work from home, so we have to be extra careful as to how we spend our money and how we save. Because items that were considered a necessity are now becoming even more expensive, individuals are finding alternatives, including options for entertainment, education and transportation.

 
Entertainment
Take for example, entertainment. Instead of spending money on the movies, which can cost upwards of $50 for just two people, individuals are staying home more. Our family rarely goes to the movies but when we do, we be sure to take advantage of a local deal where we can all go for $22. The lower priced ticket allows us to enjoy a movie when we have the funds. It is also becoming more popular for individuals to enjoy free entertainment such as events hosted by local communities, hiking, library activities, etc.

 
Education
Consider education options. Most individuals would like to go to college after high school graduation but either do not have the funds to pay for tuition or do not have the time to study since they already work to support themselves. One way students are saving on college is by taking online classes. These classes can have a similar cost to actually going to class but can be done while working, with the class work completed on your own time. This way, students can learn but also have the option to work, since most cannot afford to go to school without some type of financial assistance.

 
Transportation
Transportation is a major cost in today’s economy. Thankfully, gas prices have been dropping, which makes it easier to use your vehicle. However, some individuals are walking to work or biking to be able to travel at no cost. When you live in a city, this is an easy way to commute to work during nice weather. Carpooling is also an option for when you need to save on gas prices.

 
Food Prices
Food prices continue to soar and mealtime can put a big strain on your budget. With my family, we are constantly looking for ways to lower our food budget. I try to create a meal plan each week and focus my shopping on what items are currently on sale. I have learned to coupon and visit local grocers who offer double coupons to save on items that are on sale to get the most for my money. I also avoid taking my kids with me when I grocery shop, leaving them at home with my husband, so that they are not constantly asking for items and making me spend more money!

 
Overall, it is important to spend less. Today’s economy is struggling with many individuals losing their job. Find ways you can save money locally to be able to live comfortably without the stress of added bills or living costs.