reduce your debt

The Best 8 Tips on How to Reduce Your Debt While Raising Your Family

A penny saved is a penny earned … So in that adage is it possible in today’s time to save pennies and reduce your debt while raising your family? As you can see today in every country inflation is very high.

Not just fuel prices but even groceries have become expensive. Expenses are increasing and so is the debt for some people. So is there a way to save some money in today’s rising inflation scenario? Is there a way to reduce your debt while taking care of your family? Let’s find out …..

reduce your debt
Photo by Nataliya Vaitkevich:

You as a parent obviously want to give your child the best of everything & so strive hard to get that extra income going through lengths of hard work. Some of them are not able to give quality time to their kids as they are trying to make ends meet.

That is why I am giving you my Top Tips to save money & reduce outgoings while raising a happy family.

These tips for saving money will also help to reduce your debt.

1. Budgeting

Preparing a budget for your household taking into consideration all the possible expenses for your family will help set limits to your spending & spending wisely. Don’t go over the top while maintaining the budget. Be realistic & keep the essentials. You can cut down on your unnecessary & extravagant expenses and be more frugal in your spending.

Also, don’t forget to review your budget from time to time as priorities change.

2. Plan your Debt Payment

Always prioritise your debt payment. Manage your payments with a proper plan by considering which debt non-payment will have adverse consequences. Understand & prioritise your debt payments accordingly. Take advice on Debt consolidation if that would help. For more info, you can check here

3. Reduce your Credit Cards

The more credit cards you have more will be the temptation to use them. Similarly, if you don’t have many credit cards there is no temptation. So cut down your credit cards. Keep a minimum of 1 or 2 and pay them off on time so you don’t have to shell out more money in interest payments. That way you save money to repay other debts you may have.

4. Check for Coupons / Deals

Before shopping in-store or online, check if you have any coupons for that store or if there are any ongoing deals that can save you some money.

Try looking for your shopping in various different shops or websites. Find who is selling at a better price point & then make your decision to buy from that store. For many stuff, I try looking at different online websites

It might also help to check cashback websites to get money back on purchases.


5. Think ahead while making a purchase

Many shops have seasonal deals so don’t forget to grab those deals to fulfil your Christmas or Easter shopping needs. It might also help to check with the Black Friday deals for family & friends.

6. Curtail some kid’s expenses

I know it can be a difficult task when you have to curtail some of the expenditures you would like to make for your kids. But there are some expenses which you can do without actually shaking your kid’s happiness. I have listed some below:

  • Try hand me down clothes sometimes rather than brand new all the time
  • Shift to packed lunches instead of eating out or canteen
  • Read books from the library instead of buying
  • Some companies give some Free stuff for newborns like baby box, nappy samples, bottles, milk powder etc. Take advantage of that for your newborn.
  • Try going to some places like the beach or park for an outing rather than to places with expensive entry fees.
    For top tips on buying baby clothes on budget, you can check here

That being said, it always helps if you discuss your financial condition with your kids (who are young enough to understand). Involve them in your budgeting, so that they learn the process early in their life. That way you are also helping them to learn about savings & budgeting when they start earning.

Pin Now, Read Later

7. Check for Allowances

Check if you are eligible for different government allowances or benefit schemes. That way, you are able to have some more savings. You might want to check here for more information.

8. Prepare a list before shopping

Preparing a list before your shopping always helps. One to remind you of what you need to buy & secondly for you to not buy stuff that is not required. Without the list, you might keep buying stuff on the slightest of whim which in turn will give you a hefty bill in hand. It will also help if you plan to prepare meals in batches to save on food expenses.

These mentioned tips above will surely be of help to reduce your debt and help maintain your finances to keep you sailing in the current world scenario of rising prices.

Well, it is possible that small looking loans might grow into big debts. Do seek help in such circumstances from different avenues one amongst them being the Citizen Bureau.

Tbh, I hope none of us has to go through any of the debt hassles. That’s the very reason have given my top tips for saving some money which will help you to reduce your debt.

Have you ever had a lot of debt or are you someone who is completely free of debt? Do comment & leave your feedback on your tips to saving money & reduce debt. This way you can help others who are looking for help in reducing their debt.

This post contains affiliate links to various products and if you buy anything by clicking those links, I earn from qualifying purchases at no extra cost to you. To find out more, you can read my disclaimer here

You may also like...


  1. These are some great suggestions to help you reduce debt and save money! Thank you for sharing your suggestions.


    1. Thanks Lauren for your feedback.

  2. Great post! I order my groceries online and it helps me resist temptation of purchasing things I don’t need. I also put everything on a credit card and apply the ‘cash back’ to the credit card.
    Crystal |

    1. Hey Thanks for sharing that. It is fabulous to get cashback on your credit card purchases.

  3. This is a valuable post, well written

    1. Thanks Deborah

  4. Excellent tips! So many people are feeling the pinch right now and need to learn ways to make ends meet. These are all easily accomplished and I think everyone who is really having a hard time should pay attention to #7. I also wrote an similar article about saving money others may find helpful

    1. Thanks, Shelley. Went through your tips too. Really very helpful.

  5. Great post. We have another tip: pay the convenience premium. We heard this several months ago, and it really stuck with us. The convenience premium is that little extra money one spends to avoid having to pay more later. Great examples are getting gas (sore subject) at the closest station instead of driving twenty or thirty minutes for the cheaper price and spending the higher price for a more reliable product instead of the cheap version that might break a few weeks later.

    1. Well said. Thanks for reading & sharing your tip

  6. Brilliant suggestions here. Thank you for sharing, blog posts like this are important at this current time.

    1. Thanks for reading & commenting.

  7. My husband and I took the leap toward minimalism just 3 short years ago. We sold our lake house and our motorized boat, donated everything we no longer used or needed. We then built a less than 400 square ft home on 20 acres of land with natural springs and a waterfall, purchased kayaks, and began living life outdoors via gardening, hiking, kayak fishing, etc. It was the best move we could have ever made!

    1. Wow, that’s very inspiring. Thanks for sharing your story.

  8. ellegracedeveson says:

    You’ve shared some really great suggestions / tips which I think will help so many people with families! I think posts like this are so important as it’s easy to spiral downhill when it comes to money. Thank you so much for sharing with us lovely Xo

    Elle –

    1. Thanks dear for such lovely comments.

  9. Making a shopping list is great. I remember when I was younger and my mother would always budget and making a shop list of items that we needed and she was great with coupons.

    1. That’s great. With little changes in our habits, we can see we will be able to save more. Thanks for your feedback

  10. Budgeting and making shopping lists are crucial in helping minimize family expenses. This is a great post, and thank you for sharing.

    1. So true. Thanks for your feedback.

  11. These are wonderful tips to regain some financial stability and well-being. Thanks for sharing!

    1. Thanks, Vanessa for your feedback.

  12. Lists and coupons! Always smart ideas. Thanks for the great tips.

    1. They sure are quiet handy. Thanks

  13. Such a timely post during these difficult times.

    1. Thanks for your feedback

  14. With the cost of everything, aside from salaries, increasing, this is very helpful! Thanks

  15. These are all great suggestions. I’ve gotten better about setting a budget and making lists before shopping.

    1. I am so happy you are finding these ideas useful & beneficial. Thanks

  16. Very interesting and useful tips. Loved going through this post!!! Thank you so much 🙂

    1. Thank you so much for reading & leaving your feedback

Leave a Reply

Your email address will not be published. Required fields are marked *