As a mother in a household, you have a lot of influence to save money when it comes to your family’s finances. There is an entire market of apps and technology geared towards mothers maximizing your family’s savings.
Instead of making major financial changes, take a look at how you can save money on a monthly basis. It can be simpler than you think. Here are some easy and beneficial ways to start saving money.
1. Create a budget
The best way to save money is to know where your money is coming from, and where your money is going. Customize a budget that is unique to your finances and spending needs. Using a budgeting app can help keep you on track, and it’s easier than balancing a checkbook.
Be sure to include a little bit of the budget to treat yourself a little bit—because you deserve it.
2. Keep track of your bills
Although automatic payments can be helpful as we all experience a bout of forgetfulness every now and again, be sure to monitor the payment amount for increased charges. If you start getting overcharged, you can always negotiate with the service about the increased charge.
Using a bill tracker app can help to see all your bills in one place–and make sure they are paid on time. An easy way to save money is by avoiding late fees.
3. Take advantage of discounts
Chances are your employer, or your partner’s employer, offers discounts with services–or even with local businesses. Don’t be afraid to utilize these discounts to save yourself some money. Your job may even offer discounts with services you already are using, like gym memberships or daycare. It never hurts to ask for a discount!
Additionally, when it comes to online retail shopping, don’t forget to research for coupon codes ahead of time. There are plenty of online services to help you find the best deals.
4. Spend the night in
Dining out at restaurants for a family night, or getting drinks with the girls can add up more than you’d think. By cutting back on the meals spent at restaurants can help to save hundreds of dollars. When you do go dine out, don’t be afraid to search for coupons beforehand!
There are lots of fun ways to enjoy family time at home. Get creative without breaking the bank. Don’t let a budget keep you from making memories with your family. The best memories can cost nothing.
5. Shop smartly
Don’t be afraid of generic brands: they are often just as good, or maybe even better, than the brand names. And of course, they are typically more cost effective than the brand name versions. This can help shave down your grocery budget.
Plan out your meals before you make your grocery list. When scheduling your meals for the week, be sure to use fresh produce and perishable products before they spoil. Keep expiration dates in mind.
6. Cancel unused memberships
We love free trials, but sometimes we forget to cancel before the renewal date! Keep track of which streaming services you are paying for and which ones you actually use. Additionally, consider cancelling your gym membership in favor of an at-home gym to save a few dollars.
7. Borrow instead of spend
Libraries are a valuable resource. Instead of buying books or DVDs, consider checking out these items from the local library. While you’re there, take advantage of their events or programming as a way for cost effective entertainment for the whole family!
Also, don’t be afraid to survey your friends before you buy something new. Sharing is caring, and it can help you both save a lot of money in the long run.
Making small changes can lead to big savings. Consider your day to day spending and look for ways to cut back. A little can go a long way when it comes to saving money for your family.