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money saving hacks every mom needs to know
Being a mom often means managing the household budget and finding ways to save money wherever you can. From groceries to household expenses to kids’ activities, the costs can quickly add up. But with a few simple money-saving hacks, you can stretch your dollars further and keep more money in your pocket.
Here are some practical tips to help you become a savvy saver and manage your finances like a pro:
1. create a budget
The first step to saving money is knowing where your money is going. Create a monthly budget that outlines your income and expenses, including fixed costs like rent or mortgage payments, utilities, groceries, and discretionary spending. Use budgeting apps or spreadsheets to track your spending and identify areas where you can cut back. You can even use a planner or your favorite notebook as well.
See my Buzzy Bee Budget for more info.
By creating a budget will help you focus on necessary expenses and find things that maybe you don’t really need. You may buy a cup of coffee every morning when you drop the kids off at school. The little things like a cup of coffee can add up. Treating yourself once a week instead of every day would save a few dollars and make you feel like you’re doing something special for yourself at the same time.
2. meal planning and groceries
One of the biggest expenses for families is food. Save money on groceries by planning your meals in advance and creating a shopping list based on what you need. Keep a running list for grocery shopping and don’t go to the store without it. You will find that shopping with a list will make you a more efficient shopper and you’ll be less likely to impulse buy. Look for sales and discounts and consider buying items in bulk or in larger quantities to take advantage of lower unit prices.
3. embrace diy
From household cleaners to kids’ crafts, there are countless opportunities to save money by doing things yourself. Instead of buying expensive cleaning products, make your own using simple ingredients like vinegar, baking soda, and essential oils. Vinegar is a big one in my house. Just fill a bottle with plain white vinegar and you can clean everything from your kitchen floors and counters to toilets and bathroom sinks.
Get creative with DIY gifts and decorations for holidays and special occasions. Have kids help and make it a family activity. You can have kids make Christmas ornaments or other holiday decorations.
4. shop secondhand
When it comes to clothing, furniture, toys, and other household items, buying secondhand is a great way to save money and reduce waste. Check out thrift stores, consignment shops, garage sales, and online marketplaces for gently used items at a fraction of the cost of new. Not only will you save money, but you’ll also be helping the environment by giving items a second life.
This is also a great idea for the items in your house that you no longer need or kid’s clothes that no longer fit. Take advantage of online selling tools for selling all of these and make a few dollars while decluttering your house.
5. cut subscription services
Take a close look at your monthly subscriptions and memberships to identify any that you’re not using or could live without. From streaming services to gym memberships to magazine subscriptions, these recurring expenses can add up quickly. Cancel any services that you’re not getting value from and put the savings toward more important priorities.
6. comparison shop
Before making a purchase, take the time to compare prices from different retailers to ensure you’re getting the best deal. Use price comparison websites and apps to quickly find the lowest prices on everything from groceries to electronics to clothing. Don’t forget to look for coupons, promo codes, and cashback offers to maximize your savings. I am a firm believer in not buying something if it’s not on sale. Stores tend to change their prices regularly so if something you want isn’t on sale, you can bet it will be in another week.
7. automate savings
Make saving money a priority by setting up automatic transfers from your checking account to your savings account each month. Treat your savings like a bill that needs to be paid, and watch your savings grow over time. Consider opening a high-yield savings account or investing in a retirement account to earn higher returns on your money.
8. teach your kids about money
Instill good money habits in your kids from a young age by teaching them about the value of money, saving, and budgeting. Give them opportunities to earn money through chores or odd jobs and encourage them to save a portion of their earnings. Use real-life examples to teach them about making smart financial decisions and the importance of living within their means.
Saving money doesn’t have to be complicated or time-consuming. By using these simple money-saving hacks, you can take control of your finances and build a brighter financial future for you and your family. Remember, every little bit adds up, so start small and watch your savings grow over time. Here’s to smart saving and financial success!
