Practical Money-Saving Tips for Families of the Future
By: Kristina Grappo
Tags: Money

Whether you’ve got a growing family, growing closet, or super tight wallet, Pei can be your best friend in achieving your financial goals. In the next fews days, we will be sharing some tips on how to get the most out of financial technology, and Pei, whatever your goals might be!

The Family

Look, you don’t need me — some mythical person behind a lap top — to tell you that parenting is expensive. What’s that? Your kid just grew out of the shoes you bought them two months ago? Great. Now your other child realizes after three days of soccer practice that, despite begging you for months to join the team, they’d rather do ballet. Cool! Or even better, you bought a brand new couch in hopes of making your home look like adults live there. You turn your head for 5 seconds only to have one of your little mess-making minions spill their red #40 juice all over it.

With all the unforeseeable expenses of having a family, it’s difficult to think about having a savings plan, let alone separate savings for things like family dinners out, vacations, or whatever sport your kids want to try next. There are thousands of blogs that tell you to plan ahead (with all your free time), skimp out on family vacations (cause who really needs family time?), or just ordering water at dinners out (but have they not heard of wine?). They also suggest not ordering dessert, which I won’t even begin to touch on how blasphemous that is. We think it’s all bullshit — you should be able to dine out with your family, take trips, and be spontaneous while still saving. Here are some tips on how to save while still eating dessert.

Find financial tools that work for you

We live in the age of “there’s an app for everything” — so let that work in your favor! Some of our favorites are Acorns (rounds up your purchases so you can make small investments), Mint (create a budget and get notifications when bills are due), Digit (calculates what you’re able to save based on your income and spending habits), and Robinhood (allows for you to invest with no broker fee — also allows for you to invest and trade crypto!). NerdWallet is a great resource for more information on whatever your financial goals might be — and chances are, there’s an app for that.

2. Find cost-cutting technology

Again — we live in 2018 people, and while we don’t have hover boards a la Back to the Future yet (thanks, Doc!), we do have Netflix, Hulu, Amazon, Nest, and a slew of other technological advances that make our lives easier and cheaper.

So first, get rid of cable. Who watches commercials anymore? It’s so 2005 of you. Cable can cost you anywhere from $100–500 per MONTH! Opt for monthly memberships like Netflix or Hulu instead, which range $8–15 per month. Amazon is a great option for… well, everything. Paper towels? Amazon. Stain Remover? Amazon. Clothing for your kids guinea pig? Amazon! It’s cheaper, a time saver, and so convenient. The last shout out goes to Nest — lower your utility bills by getting a Nest thermometer (we’ve even got one in the office!). Independent studies have shown that they reduce your utility bills anywhere from 10% to 12% on heating and 15% on cooling. You can manage your home temp through your phone, and they have a number of additional features like security systems with cameras, door bells, and even doggy cams. Check them out to cut the mundane bills!

3. Earn money passively and stash it in your savings account

Just like that red #40 stain in your couch, Pei is always there (only way less annoying). Pei’s new update brings you more ways to receive cashback and with higher percentages of cashback — so you can go out to dinner and still save. With each Pei purchase you make, you get one step closer to that camping trip with the fam.

Here is an ultimate cashback guide for Pei users with adorable little mess making minions!

Back-to-School Basics:

It goes without say that Target is definitely our favorite one-stop-shop. From school supplies, and new clothes, to quick lunches and bottles of wine for Mom and Dad, you can get everything you need at this Pei merchant. At 1% cashback, you’re looking at some sweet cashback for the astronomical cost that is back-to-school. We even have a couple great locations for those getting sent off to college!

Other favorites include-

CVS- 1% Cashback

Walgreens- 1% Cashback

GameStop- 1.2% Cashback

Cost Plus World Market- 2% Cashback

Mattress Firm- 3% Cashback

Clothing:

Old Navy- 1% Cashback

Gap- 1% Cashback

Banana Republic- 1% Cashback

American Eagle- 1% Cashback

Nordstrom & Nordstrom Rack- 1% Cashback

Urban Outfitters- 1% Cashback

Express- 1% Cashback

Other Family Needs:

Groceries- Trader Joe’s- 1% Cashback

Shoes- Foot Locker- 1% Cashback

Pet Supplies- Petco- 1% Cashback

Petsmart- 1% Cashback

Haircuts- Sports Clips- 2% Cashback

Quick Meals*- Mama Fu’s- 7% Cashback

Jack in the Box- 5% Cashback

Chick-fil-A- 2% Cashback

Taco Bell- 2% Cashback

Shake Shack- 1.5% Cashback

Subway- 1.5% Cashback

Chipotle- 1.2% Cashback

Domino’s Pizza- 1.5% Cashback

Starbucks- 1% Cashback

Dunkin’ Donuts- 1.5% Cashback

Panda Express- 1.5% Cashback

This mostly pertains to national chains, but we encourage you to explore the map to find local restaurants in your area! They often provide healthier options for the family, often accompanied by higher cashback levels. That goes for all our suggestions — be sure to explore the map to find out what unique cashback offerings that are specific to your city.

As always, if you ever have questions, feedback, or suggestions, you can reach us at support@youpei.me, and an actual human member of our team will respond ASAP! Until then, enjoy getting one step closer to Pei Day!