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Balancing the household budget while making sure everyone has what they need to live a vibrant, healthy life can be hard. That’s especially true as prices rise. If you’re a mom saving money, we’ve got some tips to help you with that task.
Don’t swipe your card or hit the checkout before you spend a little time looking for deals. Clipping and stacking coupons can help you cut your grocery budget by a hefty percentage, but moms can use deals to save money on things they might purchase anyway. Here are just a few ways deals can help you save money:
Make smart money decisions when buying groceries. Purchase in-season produce whenever possible because it’s less expensive than out-of-season options. Check sales ads and price match. If you can save enough, you may want to spend the time shopping at multiple stores.
When possible, buy generic to avoid paying for big-brand advertising, and consider whether bulk buys save you enough money to make them worth it. Just make sure you’ll use what you purchase before it expires, because wasted food is a waste of money.
Look for ways to cut down on how much you have to purchase. One of the best ways to stretch your resources is to integrate reusable items into your home. For example, cloth rags you can wash and use for years save you money compared to disposable paper towels you have to buy repeatedly. The same is true for dishes you can wash versus paper or plastic.
You can also invest in products that are made to last longer, such as CFL bulbs. Consider how you can save on utilities like electricity and water, such as by hanging your clothing up to dry instead of using a dryer.
Consider all the resources available to you and how you can best use them as a mom saving money. Libraries are a perfect example of resources many people don’t use to their fullest. Here are just a few things you may be able to do at your local library to save money as a mom:
Other ways you can be resourceful include walking instead of driving whenever possible and seeking out apps and programs that let you save money, such as prescription drug apps.
Collect information about your spending and bills for a month or two. Then, go over that data with a critical eye. Look for ways you can cut costs, such as unnecessary options on a cell phone bill or subscriptions you don’t really need.
One of the best ways to save money is to ditch your debt. Look for ways you can pay down debt or pay off loans faster. That will free up disposable income that can be used to save for the future.
You might also look at the terms on your credit card and loan debt. If your credit has improved since you applied for that debt, you might be able to refinance or negotiate a lower interest rate. That could save you money on every payment.
Moms saving money don’t have to do the work alone. Get to know people in your area so you can swap babysitting and other services with people you like and trust. Join community social media pages that involve swapping toys, home goods and other items. Learn when churches have yard sales or when large annual consignment sales happen so you can find clothing and other items for your family at deep discounts.
When your children know about money and understand how to use it responsibly, the entire family can save together. Teach your kids about money and finances, and create options that allow them to practice what they learn. That might include giving them an allowance or getting them prepaid debit cards.
Sometimes, saving money as a mom isn’t quite enough. When that appears to be the case for your family, consider ways you can increase your income.
Get a part-time job or join the gig economy. You might deliver groceries or food or complete work online as a virtual assistant. You can also have yard sales, resell items your family no longer needs or browse thrift stores for special items you can buy and sell online for more.
Gift-giving can be expensive. When possible, look for ways to cut down on the cost of gifts and invest instead in quality time with your family. Give experience gifts, such as a day at the museum, or create homemade gifts together to give to others.
Putting just one of these tips into action can help you start saving money today. Pick one and implement it in your daily life before you move on to another. In just a few months, you’ll be a mom saving money without even thinking about it.
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