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6 Ways to offset Social Security taxes

With increases in Social Security taxes for 2013, families are doing without an average of $20 per week in their pocket. The good news is that a little penny pinching can go a long way.

Mom and daughter with coupons

From saving money on clothes to family savings on insurance, find out six ways your family can offset Social Security taxes with tips from consumer savings expert Jeanette Pavini.


Save with resale

When kids grow like weeds, thrift stores can be your pot of gold at the end of the rainbow. Even if you do not opt to shop exclusively at resale shops, you can supplement with leggings, pajamas, coats and winter wear and still put a dent in your family clothing deficit. Look for resale shops that also offer store credit for your gently-worn trade-ins.


Stock up on outerwear

The best time to find the lowest prices on cold-weather gear is when stores are making room for spring fashions. So, purchasing your family’s outerwear for next fall now will help you save a ton of money later in the year. However, even if you’ve missed the slashed prices in stores, you can still find the surplus in outlets and off-price department stores that sell discontinued and overstock merchandise, advises Jeanette Pavini, savings expert.

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Hit the dollar store

So long as you stick to your guns and only buy what you need when you need it, the dollar store is a family savings superstore for toiletries, snacks, school lunches and toys. You can even buy party supplies such as tablecloths, favors, balloons and decorations for your kiddo’s next birthday bash for a lot less than you’ll spend at retail party stores.


Clip coupons

One of the most common ways to offset Social Security taxes is to save money with coupons through the local paper or sites like “In a savings experiment last year I found that with just 45 minutes, a computer and a weekly circular, $146 can buy an average shopper $260 worth of groceries,” shares Pavini. “Over the course of one year, that shopper can save more than $5,000.”


Brown bag your lunch

A family that packs their lunch together saves together! When comparing homemade lunches to the average deli sandwich cost, Pavini found that one person taking his lunch can save an average of $1,235 per year. Times that by the number of lunchers in your abode and you’ll see your family savings add up fast!

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Combine insurance needs

Many car, home and life insurance companies offer to knock a little off the top when you merge your coverage to a single company. Ask about multi-driver and other money-saving options for which you may qualify, especially when your youngsters are finally old enough to get behind the wheel.

Whether you’re using these six ways to offset Social Security taxes or are just looking for ways to maximize family savings, saving money doesn’t have to be a total lifestyle change. Try starting with one adjustment per week and adding in other ways to save as the months march on and pretty soon you’ll form money-saving habits worth keeping!

More budget-friendly tips for families

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