9 Indispensable Money-Saving Tips for Moms
A solid plan and a sharp eye can keep you under budget even with a crazy schedule.
Frugal moms know that a family doesn’t have to spend a lot to live well.
Even with violin practice to pay for, new clothes to budget in and widely attended birthday parties to throw, moms can keep finances in order with resourcefulness and strategy.
1. Create a budget.
If you’re a savvy mom, you might already be on top of this. Good for you! Feel free to skip on to the next tip.
For the rest of us: it may sound cliché and unglamorous, but creating a budget is probably the most important step in taking full rein of your finances. To begin, make a list of your family’s financial goals. For instance, aim to save up for a family vacation, to save for college or to save up for holiday gifts.
Next, make a plan of action by identifying your income and expenses for the month. Subtract the amount you owe for essential payments like mortgage payments, utility bills, car payments and the like. Next, make a decision on how you will divvy up the remainder of the money – for example, you may want to allot a certain amount of money for entertainment, extracurricular activities, restaurants, etc.
2. Map out menu plans for the week
For busy moms, planning a menu at the beginning of the week can help save time and money. Start by mapping out your meals for the rest of the week, and then make a grocery list of the items you will need. Do all your cooking at the top of the week, and then freeze your meals to be eaten throughout the next seven days.
3. Keep an eye out for sales
Check grocery store circulars and websites to figure out what’s on sale and plan your meals accordingly. Join the loyalty club at grocery stores you frequent to take advantage of exclusive deals and earn rewards. You can even download grocery shopping apps like Weekly Ads & Sales or Grocery IQ.
4. Hunt down online coupons and promo codes
You can find coupons for everything from cookware to clothing to toys on the internet. Check out coupon and deal sites that feature special offers, deals, and promo codes in hundreds of categories for thousands of your favorite stores.Read More