Generic food brands. Major grocery stores offer generic or house brands. Don't be afraid of them! They are often made by the same manufacturer who makes the name brand but simply puts a different label on it. It doesn't hurt to try the product once; if you don't like it you can go back to the name brand.

Anticipate needs. We have five children so we often buy in quantity when going to the grocery store or membership warehouse to take advantage of quantity discounts. If a store in our particular area is having a year-end clearance on items such as tennis shoes, shirts, or pants, we will buy half a dozen or a dozen of each. They may not fit our children now, but sooner or later one child will grow into them.

Baby sitting co-op. Get together with other couples you know in your area to develop a baby sitting co-op or club, trading time on a child-per-child basis. This will provide quality care without the expense. I estimate that in one year we saved over $300 by using our baby sitting co-op, and we've developed stronger friendships as well.

Dental schools. If your county or state has a dental college or hygienist school, you may be able to get your teeth or your children's cleaned at a considerable savings. These hygienists in training are supervised by a dentist, and treat your children's teeth methodically. In the many years we have visited our community college clinic, we have never had a bad experience. For an average cost of $8 per child, they get their teeth cleaned, plus fluoride treatment, sealant, and X-rays if necessary. On top of that they also get a new toothbrush!

Medicine/generic drugs. With a family of seven, we have many miscellaneous medical needs. Whether it is the local drugstore's house brand or buying our antihistamines via mail order, we rarely pay top dollar for a brand-name drug. For the one antihistamine/decongestant we use for the kids' colds, we pay less than 10% of the price of a popular brand name, and the formula is exactly the same.

© Sound Mind Investing

Published since 1990, Sound Mind Investing is America's best-selling financial newsletter written from a biblical perspective.  Read part 2 of this article, which includes nine more spending strategies, at the Sound Mind Investing website..

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