Running a household and saving money — think they’re mutually exclusive goals? While raising your kids is indeed expensive, it doesn’t mean you can’t cut some corners in your budget. 

There’s no doubt saving will be hard. But it is possible when you check out these practical finance tips on how to manage your money. 

1.Cut the Cord

In 2017, the average family spent $107 to keep their cable TV. Nearly three years later, Consumer Reports found cable companies have added $475 to the average annual bill.

This is a lot of money to drop on local news channels you never watch. You could save the majority of it by canceling cable and embracing the digital streaming experience. 

A basic Netflix package is just $8.99 — a cost savings of roughly $98 a month, not counting taxes. Adding family-friendly Disney Plus ($6.99) to Netflix doesn’t even come close to what you were paying for cable, and the new streaming service has something for everyone.

2. Think Twice about Meal Subscription Boxes

Between wrangling the kids and running a household — not to mention working a full-time job —you’re busy! What little free time you have, you don’t want to spend it in the kitchen.

Soin comes the meal subscription service: the latest trend hitting families across the country. A box containing a recipe card and all the ingredients you need arrives on your doorstep three times a week. Most of the time, these meals take fewer than 30 minutes to cook. 

The only problem? All the time you save ends up costing you! 

As the Simple Dollar reports, a family plan at HelloFresh costs $8.75 per person, per meal. This means a meal for a family of four costs $35. 

Seriously weigh the perks to this service. If you don’t think it adds up, check out these simple dinner ideas that cost $10 to make!

3. Create a Meal Plan

Saying goodbye to the convenience of HelloFresh will be easier when you have a plan in place. Knowing what meals you’ll eat and when will cut down on the time you waste trying to figure out what to have for dinner.

A meal plan also helps you in the grocery store. You’ll know which ingredients you need to make your family’s meals. This list can end up saving you a lot of money; it keeps your eyes on the prize. 

Without it, disjointed ingredients you can’t eat before they go bad may end up in your cart. The average American family throws out $1,500 worth of food out each year. 

4. Put Credit to Bed

At the checkout counter, do you find yourself always pulling out your credit card — even if you have cash in your wallet? It’s a bad habit a lot of us have. 

It’s one you’ll want to quit in 2020. Studies show paying with credit leads many people to spend more than they originally intended. Try shopping with cash or debit as much as possible, leaving a personal line of credit or credit card for unexpected emergencies when your savings fall short. 

Benching a personal line of credit, making a meal plan, and saying goodbye to cable could put money back in your pocket. Save this cash for a rainy day or put it towards paying off debt. Emergency savings and fewer bills will make being a parent on a budget a lot easier to do!