-3. Manage expenses
As your family grows, day-to-day expenses only multiply and squeeze your monthly budget. The first step towards increasing your savings is to control your expenses. Identify how and where you are spending your hard-earned money. Try to control unnecessary expenses. Avoid using your credit card or other types of credit to meet expenses unless you have the capacity to repay promptly to avoid penal interest. The success mantra here is to save first and then spend; most people do it the other way round.