15 Tips To Reduce Spending and A Free Printable Family Financial Planning Worksheet

Our Family Financial Planning Free Printable worksheet is designed to help you with the process of setting realistic and achievable goals. We are also sharing 15 tips to reduce spending! Managing family finance is at the top of the list when it comes to setting goals, especially setting goals for a new year. 

15 Tips to Reduce Spending and a Free Printable Financial Planning Worksheet.intelligentdomestications.com

My husband and I sit down periodically and either set new goals or review the success of our previous goals. The key is to have goals in order to manage your finances instead of allowing your finances to manage you.

Please be sure to visit our Finance page for more tips.

Family Financial Planning. Have a family meeting to discuss your goals for this year. Print several of the free basic worksheets in this post and give them to each of your family members. It is important to involve everyone in the process of understanding family finance. Even the youngest members can be taught the importance of managing money by participating at their level.

Some of the questions you may want to ask yourselves include:

  • What do we hope we can achieve as a family this year?
  • How much debt can we realistically expect to pay off this year?
  • Is this the year we will be forced to make major purchases such as an appliance, home repair or even mattresses or furniture. Try to be cognizant and forward thinking to prevent blowing the budget later.
  • What does our savings account look like? Can we increase our savings this year?
  • Will we be able to plan a vacation? (If the answer is yes to planning a vacation, now is not the time to actually plan the trip. That would distract from the financial goal setting conversation.)
  • What are some ways we could possibly increase our income?
  • What are some ways we could possibly decrease our monthly expenses.

It’s easy to get either really excited about the possibilities or depressed upon the realizations. Let your mantra be “If it is to be, it is up to me”

If you expenses exceed your income, there is help.

Check with Consumer Credit Counseling for assistance with things like reducing credit card interest fees and debt consolidation. They are a non profit organization whose purpose is to assist you with regaining control of your finances. 

15 Possible ways to decrease family expenses:

1. Reduce your cable/satellite package

2. Turn off your cable/satellite package

3. Drop excess charges on phones such as Caller ID or Call Waiting

4. Turn off your land line phone, if you also have a cell phone. Why pay for both?

5. Do not renew magazine subscriptions.

6. Do not renew club shopping memberships.

7. Learn to garden and grow your own vegetables.

8. Quit smoking. Tobacco products create a giant dent in the budget.

9. Quit consuming alcohol. Alcoholic beverages are a major blow to the grocery budget.

10. Install a clothesline. The dryer is one of the most major sources of your energy bill.

11. Learn to prepare a variety of meals with leftovers. Check out this post for making 3 Meals from One Pot of Beans. 

12. Take stock of your insurance premiums. We recently realized we were paying for a policy we had not needed in several years. Can you get a better rate at a different company?

13. Start using the Envelope System for expenses that make the biggest dent in your budget such as groceries and entertainment. Once the cash is gone from the envelope, the spending ceases.

14. Have ‘No Spending’ days or weeks where you spend no money at all. Most people can survive one day of no spending but challenge yourself to survive an entire week. No stopping at the store or trips through the drive-thru!

15. Learn ways to reduce your energy usage in the home. Check out this post, 7 Easy Ways to Reduce Your Winter Energy Bill Right Now

Family Financial Planning Goals for 2015

Can you share with our readers any tips which have had proven results in your family’s financial management?


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Shirley Wood

Hi, I'm Shirley; recipe creator, enthusiastic crafter, even more enthusiastic beginner sewist, flower gardener, and penny pincher from way back.
I'm in love with God, my husband, my two girls and all of my precious grandchildren.
I was 'raised right' in the south and am a firm believer in the Golden Rule. My favorite verse is Romans 8:28.
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    • I know what you mean about getting rid of cable. There are some viable alternatives making headway in the market these days. I’m doing some research to find out more about those options. We have kept our landline, for now, but dropped caller ID and Call waiting off the bill. Thanks for stopping by!

    • Emily we had a 13% decrease in our energy bill the first month our clothesline was up. I’ll take it especially since it was on a couple weeks after it was up that the new bill came. I hang absolutely everything on the line! There are some really nice things that I hang indoors to dry. Anytime my dryer is not running, that meter box isn’t running up our bill!

  1. Hello there! I’m one of your new co-hosts on the Merry Monday linky party! I just wanted to drop by and say hello to a fellow southern blogger! As well, love this post but have a bone to pick with not renewing shopping club memberships; part of my weekly menu and shopping trip guides, I always shop at my local Sam’s Club and usually save upwards of 80% off other mass retailers and grocers, including Winn-Dixie, Walmart, Save-A-Lot, etc. I’d love to have to stop by the blog sometime and look around. It would also be fun to collaborate on some posts, ideas, and parties, too! Have a great week!
    Misty Nicole Overstreet-Roberts (The Lady Prefers To Save) recently posted…Welcome to the Merry Monday Link Party #37My Profile

    • 🙂 Nice to meet you Misty! I look forward to working together at Merry Monday! We LOVE our Sam’s Club membership too, but it isn’t cramping our budget right now. If we needed to make cut-backs, we might have to consider it. All tips are not for all folks. I hope I will be back in your good graces with that thought 🙂 I’ve been an extreme couponer for many years. I wouldn’t dare shop at Walmart nor recommend it to anyone else either! I do love a fellow couponer!
      I will certainly be over to your blog, looking forward to it!

    • You have shared some great tips for being frugal. Thanks Lorelai. We got accustomed to grouping errands together so long ago, I don’t even remember making plans any other way. It kind of makes for a fun day if you plan it right!

  2. Great tips! I am really trying to work with leftovers this year. So far, I have done much better on our grocery/food bill just because we haven’t eaten out as much and it has already made a huge difference.

    • My mother was very savvy about using left overs. I don’t know why we are not all that way. My husband and I are doing a better job with it recently and will continue to develop some new favorites! We had some Hoppin John this week which makes great burritos with the leftovers. Thanks for stopping by Logan.

  3. I love these tips. As a grad student on a budget, I’m always looking for new ways to save money. Cooking meals with leftovers is a huge saver for me. I actually love my BJs membership. While I go through some things I buy there pretty quickly (like my fruits, since I eat them every day), other things I only have to buy once or twice a semester and I’m good. I can’t wait to have my own house and property so I can start a garden. Thanks for sharing! 🙂
    Kate recently posted…Friday Feelings no. 1My Profile

  4. These are all great tips, Shirley. My husband I don’t make any major purchases without talking it over. We save all of our coins and use them to pay for vacation. I try to never buy on impulse. I really like your idea of having no spending days.
    Alli recently posted…Pretty Pintastic Party #37My Profile

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