Whether you have lots of children, cousins, siblings or in-laws, there are many costs which come with being part of a large family. It can seem like you are always trying to figure out how to afford different things. It will always be trickier than if you have a smaller family, but there can be ways to make things easier.
Get everyone to contribute
It can be helpful to get all of the family to contribute to things if they can. So, if you are having a get together with extended family then if everyone provides something towards it then the cost will be spread between them. In your specific household, it might be necessary to get older family members to work so that they can pay money in to cover their keep. If they are too young to work then perhaps, they could help with household chores while other family members work. Letting children understand that money is an issue can also be useful. They might understand more and be less demanding with regards to things that they want, if they know that you cannot afford as much as other families because your is so big.
Have no present pacts
A big expense with larger families can be buying gifts. Whether you have lots of children, aunts, uncles, cousins, siblings or whatever, if you want to treat them all then it can get really expensive. It might feel like there is always a birthday present to buy or a celebration to contribute towards. It can be helpful if set up a no present pact with some people. It will probably not be something you want to do with children, but you could have an agreement that grown-ups do not do gifts, they just do gifts for the children or that you have a specific budget. It can be really tricky if one person pays a lot of money and others feel they have to keep up with that. If they will not agree to a budget then it could be worth just doing what you can afford and not trying to keep up with them.
Keep luxuries to a minimum
Treating ourselves can be a lot of fun. If we work hard, we will feel that we deserve some nice things. However, if you have a large family then luxuries can be difficult to afford. It can therefore be worth thinking about what you can do instead of buying these. Some treats are free. Perhaps borrowing a good book from the library, having a nice peaceful walk or visiting a local free art gallery could be great treats too. It is good to think about things that are free that you all enjoy so that you do not have to spend money to find things to do.
Track spending carefully
If you keep a good track on what you are spending that will help you to make sure that you are not buying unnecessary things and also not spending more than you can afford. It can really help to see exactly where all of your money is going as you may quickly start to change your shopping habits. You might also start comparing prices as well. This will allow you to cut down spending in some areas which will be useful. Just knowing what you are spending can be a good place to start so that you are able to prioritise what you really need and what may not be so important.
Set a tight budget
It might also be useful to set a really tight budget. This will allow you to make sure that you do not overspend. If you do not, it could mean that you will end up running out of money before you are next paid and having to get a loan. Although a loan can be useful in many circumstances, it is much better to plan well before getting one and make sure that you can afford the repayments rather than just going overdrawn and paying a very inflated price for it.
It can still be very tough when you are trying to afford everything. It might be that you will have to look at the possibility of getting a better paid job so that you can manage. This might mean that you will have to work more hours and therefore will have less time to spend with family. However, it could be worth it, if this means that you are able to afford everything that you need to buy. It could be about finding the exact balance between getting enough money and having a good quality of life. It can be a very tricky balance to sort out, but if you are careful with spending as well, you will hopefully be able to make it work out for you and your family.