Family Expenses and Ballooning Debt: How to Cut Back

Balancing family and credit repair can be tough, especially with a house full of kids. The seemingly endless list of expenses may have you thinking, “I will never fix my credit!” Don’t give up yet. There are plenty of fun ways to include your children in the credit repair process. Read on for some helpful tips.

1. Brown bag it.

Dining out is one of the fastest ways to drain your bank account, and the same is true for lunches outside the office. Taking time to prepare meals at home could save you hundreds each month. Opt for affordable eating and make yourself a brown bag lunch for work. If your kids eat hot lunches at school, consider switching them to brown bags as well. Include them in the process and let them choose something to add to each meal. Smarter choices will benefit your family’s health and your credit repair efforts.

2. Cash in on free fun.

It’s no secret that kids come with short attention spans. You may find yourself struggling to keep up with their daily energy levels. The good news? There are plenty of ways to entertain your kids without breaking the bank. Stick to your “fix my credit” mantra by finding free sources of fun. Visit your community’s website and look up the events happening around town. If your kids want a movie night, take them to the library to borrow DVDs for free. Turn dinner into an event by allowing them to help with the cooking. Saving is possible with a little creativity.

3. Leave the car at home.

Speaking of creativity, who says every errand requires a car? Gas prices are topping $4.00 per gallon in cities across the U.S. Keep your credit repair flowing smoothly by conserving fuel whenever possible. Use public transit to take the kids out on weekends. Pitch in with other parents during the week by joining a carpool group. If you plan to visit a nearby park, why not ride your bikes instead of piling into the van? Small efforts will add up fast.

4. Plan a garage sale.

When credit repair is priority #1, extra cash may be difficult to find. Make the best of it by turning your spring cleaning into a money-making venture. Plan a garage sale to clear out the clutter. Ask your kids to collect their old toys and allow them to buy something new with the money they make. Use the remaining profits to pad your bank account.

5. Teach by example.

Children learn my emulating their parents’ traits. If you are looking to break bad credit habits and create a new life, start by including your kids in the transformation. Turn off lights when you leave a room, cut back on entertainment expenses, etc. Create a household budget and explain the specifics to your kids. The bottom line: fixing your credit spans beyond individual responsibility. Allow your efforts to become a family affair.