Family Budget

By: Chen BenShimon & Yael Bessen

Hi everyone,

We decided to calculate Chen's family budget assuming they adopt me :)

These are expenses for a family with 4 persons:

Our tips to reduce the family budget

Save by living and maintaining a healthy diet!

By examining our monthly expense in the food area we can see that family spend quite a large amount on groceries. among these products, up to 30% percent are unnecessary unhealthy  items that can easily be spared or replaced.

For example, an average family buys at least 5 bottles of soda of soft drinks for a total of 35 shekels, in one month that adds up to 140 shekels. By switching to natural filtered or tap water we can save allot of money while living a healthier life.

more on leading a healthy life:  www.rightdiet.co.il

Save in the supermarket

Shop at a discount online!

Many common items can be found at a cheaper price online. while local online websites offer great prices, International website sometimes offer even better incredible discount. some item require shipping and tax but for low size low cost items they are often still cheaper.Check online before going into a shop to know how much something is really worth.
Recommended sites:Deal Extreme: http://dx.com
Deal Extreme-Israeli version : http://dealextreme.winwin.co.il
Ebay : http://www.ebay.com
Find the right product on shelf!

Groceries often sort the shelf in a specific order, placing the more expensive items in the center while the cheaper ones on the bottom shelves. Its always a good idea to stop and check the different prices on all shelves instead of going for the first one you see.

Did you know  most of the items you need are at the far edge of the supermarket?

Grocery stores often place most of your everyday items at the far end of the shop causing you to go through all the times and sales on the way in hopes of making your purchase higher.If you know what you need, go directly to it and try not to tempted by the other items on the way.

Saving on electricity

Lighting - while florescent lights are more expensive then traditional heat bulbs they use significantly less electricity and last longer making them the most cost-efficient why to light your home.

     Saving your cell phone account

Use the internet for calls!

Using the different applications for desktop computers and smart phones you can save money on calls and text. Most applications such as skipe will allow you to talk to anyone, anywhere, as long as you like for free.
Recommended applications:
Viber :http://viber.com/

Skype : http://www.skype.com/intl/en/home

Tango: http://www.tango.me/

Saving on fuel

While on the road the smaller, remote gas station often offer cheaper pricing then the larger common franchises. use smart apps such as: http://www.fulltank.co.il/ to find the best place to fuel your car.

Saving on child expenses

•      Give and use 2nd hand cloths and games. cheap and educational.
•      Buy and exchange cloth, toys, books, furniture with friends, family and other.
•     Find the right place to take your family. while some attractions are built on making you spend the most others offer great attractions at a reasonable price. instead of going to shopping malls go to museums, parks and playgrounds. instead of paying for expensive performances go to the free ones that are often at public spaces or even offered often for free by the shopping malls.
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Monitor your finance

•      Check your monthly bills. People rarely go through their monthly bills but more often then not companies and computer make errors, make sure you don't have double charges, unlawful fees and other expenses that you shouldn't be paying for.
•       Keep your recites. When these errors happen they are your proof.
•       Monitor your checking account. learn your expenses and don't be blind sighted by a depleted account when its too late to make a change.

In summary:

By using this tips we estimated a total saving of  500,633 NIS for 20 years .

Our last  great tip :)

A great Budget Planner that we found that can help you keep track of the family budget:

BUDGET PLANNER