To stretch also means to extend one's mind to think of other possibilities. Why not start a savings program that will actively involve the whole family? First, set a goal. How much do you want to save? Set a family meeting. Give family members an overview of the basic household expenses. Create a savings plan and get everyone in the family excited about it. Plan how to go about it, how to monitor it, and what to do with the money saved!
"Advertise" to yourselves. Ask your child to make an advertising campaign, starting with a "promo" poster explaining the details of your savings campaign. (For example. Save electricity, save the planet. Save Php 5,000 this summer! Together, we can do it!) You can even use the money your family saves to fund an inexpensive treat that you can enjoy together -- an expense that might otherwise be an extra drain on your budget.
Remember to enlist everyone's help in stretching your resources. Ask your child to find ways to bring household expenses and make him or her in charge of it. One child can be in charge of switching off all unnecessary lights, turning off the electric fans when no one is in the room, taking out the cell phone charger and other plugs from the wall sockets when not in use, among others. Or instead of employing temporary help to cut the grass, get the kids out of the house and make them responsible for the garden -- cutting grass, watering, weeding, etc. and while they are at it, why not plant an "edible garden"? Instead of flowers, plant vegetables. More than just the money saved, the rewards are invaluable - it's a fun way to teach your children the value of responsibility and team spirit, and about doing their share in the family's needs.
Source: Good Living
Source: Good Living
Good tips. These steps are definitely a big help to families, especially now that the world is experiencing a financial crisis. Thanks!