It adds up between childcare, activities, and everything under the sun. And since parents usually want to do everything for their children, it can seem like a frugal mother is uphill.
But not all hope is lost. Here are easy ways to save money to maximise what you live week after week and to save for a rainy day. And the best part of that? You will give your children a great example of how to deal with finances later in life!!
Check your expenses.
Once you start cutting spending, it is useful to find out where the expenses are at. An investment audit is fantastic. It may even sound painful, but it could be a straightforward process. It just comes down to check what you spend and how you spend your money.
You can attach your bank and credit cards to apps or budgeting software to register, track, and categorise your spending today.
The categorised version of your expenditure can, at the same time, open up the eye and empower. Although you might at first cheer on your spending habits, it’s best to know where you are, so that you can take steps to help your family achieve its financial goals.
Take a couple of hand-downs and swap clothes.
Children grow far too quickly, so there is no reason to buy anything new forever for them. Take some hand-downs from your friends or family who are still in excellent condition, and even swap clothing with a few cousins that are very close to size and age!
Cut out non-essential elements.
When you see where your money is going, it will be easier to reduce your spending on certain things that are not essential. You might find, for example, that you can swap your gym membership for a home workout or reduce visits to salons from three to four times a month to only once a month.
Certain items you could remove include cable, magazine, or internet subscriptions and eat sometimes. The key is to find a few things that can be eliminated or reduced for your family.
Note, you don’t have to make any significant spending changes immediately. It would help if you took your family away from individual costs and events slowly so that you can all adjust to your life without significant disruption.
Go to yard shop sales for you and the baby.
It would be best if you kept an eye on things such as bikes and toys while at a yard sale you are clear of the car seats and crib. You don’t have to drop severe batteries for something that your child could use for six months. And since these larger items can be very costly, it saves you cash to buy them secondhand.
If you want to save money on shopping, consider shopping online. You still spend money; however, more than likely, it’s a little more reflective and measured. You are going to compare the shop online, check for coupons, and be less likely to exceed your target. When you get over the limit, there’s no embarrassment back from the cash register— only the strategic intervention to delete offending items from your online cart.
It can be particularly useful when shopping for food. You can test meal delivery services if you commit to buying most of your food online. You don’t always save a ton of money, but it can save you time. Ingredients for the delivery of food services (or full meals) right at your doorstep!
Make everyone lunch.
Lunch can be an irritating and repetitive job, particularly if you’re exhausted for a while at night, but making this a routine only brings good things for you. Not only are home-crafted lunches often much healthier, but the money you save each week by not eating (or by not purchasing cafeteria food for children) can also be astounding.
Use incentives with a credit card.
A working mother is often a busy mother. It could mean that all family expenses are paid on another credit card for convenience. If this is the case for you, consider using reward cards to spend more money on your credit card.
If you have completed an expense audit, you may have more points and more bonuses for specific categories in which you spend more money.
Set a portion of your income to save.
Even if it’s only $50 a month, save the money directly at the time of payment. You may also set a percentage of your salary to automatically move your savings through a direct deposit at work if you do not want to keep in mind twice a month.