Chris Miller, Illinois State Representative from 101st District | https://repcmiller.com/about/
Chris Miller, Illinois State Representative from 101st District | https://repcmiller.com/about/
With inflation continuing to impact Illinois families and the new school year approaching, finding ways to save money has become increasingly important. Rising costs of food, gasoline, interest rates, rent, and other living expenses have created a challenging economic environment. Despite these difficulties, there are strategies that can help families manage their finances.
Back-to-school spending is projected to reach record highs nationwide this year. In Chicago, parents spend an average of $886 per child on school supplies, which is 34 percent more than the national average. With no sales tax holiday in place this year, many families face tough financial decisions.
For those committed to saving money, creating a family budget is a crucial first step. Planning all incoming and outgoing expenses on a weekly or monthly basis can initiate the process. Open communication among family members and flexibility are also essential. Numerous websites offer tips for reducing expenses, such as "6 Ways to Reduce Your Family’s Spending And Save More Money," "Six Fun Ways to Save as a Family," "23 Ways To Save Money on Back-to-School Items," "7 ways to save money on family expenses," and "17 Money-Saving Tips for Families on a Budget."
Key tips for saving money include:
- Use existing items and only purchase what is necessary.
- Eat meals at home and pack lunches for children.
- Adhere to strict budgets and plan ahead for special occasions.
- Opt for at-home family game nights.
- Declutter the house and hold garage sales.
- Bargain shop for school supplies with prior research.
- Buy items in bulk when possible and share costs with neighbors or friends.
- Search for coupons and apps offering discounts.
- Avoid expensive name-brand items when feasible.
- Delay purchases of non-essential items.
- Follow community sites on social media for deals.
- Reduce energy usage by turning off unused items.
- Review subscription services regularly and cut unnecessary ones.
- Seek free or low-cost entertainment options like picnics, parks, zoos, or museums.
- Develop meal plans before grocery shopping.
Illinois families can still enjoy their lives while implementing these money-saving strategies as they prepare for the new school year.
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