As a mom, there’s no better time than now to cultivate the habit of saving – that is, if you haven’t already. There’s nothing remotely sexy to save money. But a good saving habit will help you pay off your debt, boost your family emergency fund, go on a vacation, increase your investment portfolio or even drop out of the rat race altogether.
Being a mother, saving money is hard, I must admit especially if you have growing kids. That is why I created this post. Here, you will discover money saving ideas for moms like you that don’t come off as tedious or boring.
You might even have fun trying some of them. It helps to always remind yourself of your financial goals when it gets tough.
As little as a few dollars here and there adds up in the long haul. And before you know it, you are on your way to growing your savings and a happier family—the ultimate money goal.
A Better Life Ahead For Your Family With These Money Saving Ideas For Moms:
Walk Whenever You Can
The emergence of Uber and the likes have made it easier for us to move about. But you could forgo the comfort of a ride and walk instead, especially over shorter distances. You would be amazed at the impact such decisions would have on your finances and health in general. It’s a win-win for you.
Avoid Impulse Buying
Impulse purchases, especially if it’s for your kids, is not easy to control but can burn a hole in your pocket faster than prairie fire. Just buying up anything that catches your fancy is a no-no.
Eliminate this terrible spending habit by waiting for at least 24-48 hours if you come across anything you seem to like but don’t need or your kids don’t need. It’s established that people who wait for some time before making a purchase will most likely decide against it eventually.
Cut Your Cable
Your cable TV subscription may be costing you more than it’s worth. After all, you hardly ever watch all the 1,001 channels. You have several cheaper alternatives -YouTube, Netflix, Hulu, Amazon Prime, etc. Although it took me some time, I finally realized that I don’t need cable television.
I don’t miss the news, and over-the-top content platforms are more convenient and cost-efficient.
Stockpile Goods When They Are in Season
This is a great money saving idea for moms, not only if they have a big family. When supply exceeds demand, the prices of goods and products generally drop. You can use this principle to save a ton of cash by getting food items in bulk during their due season.
With good preservative techniques, you would have lots of such products even when they go out of stock, thereby becoming expensive to purchase.
Using Coupon Cash-back Apps
You don’t have to feel embarrassed about the use of coupons. Just like you, almost every mom that I know of uses coupons. There are new ways of using them without having to carry physical coupons.
With money-saving coupon apps such as Ibotta, Rakuten, amongst others, you can get some money back on your everyday purchase.
Cash-back apps are very beneficial, especially if you have a large family. Although the proceeds might be small, you would still be amazed at how much it can amount to in the long run.
Buying Used Items
I know this has its own risk and all, but when done rightly, used items can save you hundreds of bucks while delivering on the same level as a new one.
Items like outdoor furniture, toys, and books can be purchased at a reasonable price on Facebook trade groups and other trusted platforms. However, ensure you see an original receipt of such items before committing your finances to a deal. Also, ensure they are in generally good condition and won’t pose any safety or health risks.
Shop Mid-range for Appliances
With the economic challenges of last year due to the pandemic, the last thing you would want on your plate is spending extra money on repairs because you decided to buy cheap.
Buying cheap electrical appliances are often expensive in the long run due to the constant repairs; instead, go for mid-range equipment with good customer ratings.
These items are durable and affordable, although they may lack the extra features you don’t really need in an expensive appliance.
Grow a Garden If You Have Space
Not only will growing a garden help you with fresh food items, but it will also help you save the money you would have otherwise spent purchasing them from your local grocery store. Also, check out our article on saving on your groceries.
Ensure you have the right soil texture to carry this out and read blogs or YouTube videos on how to start a garden to ensure you start and remain on the right track.
Growing a garden for your growing family is relaxing and can save your family a ton of money; plus, there’s nothing better than fresh-picked veggies.
Don’t Be Too Carried Away by Discounts
A typical marketing trick is “FOMO” (Fear of Missing Out). This is a technique used by copywriters to lure buyers into purchasing items they would ordinarily have ignored.
For example, you could see an item promising you an extra free product on purchase. This is something you usually won’t have any need for. But because of the seemingly too-good-to-be-true offer, you end up making a purchase. It may feel like a bargain, but you actually lost out.
Remember the 24-48 hours rule I discussed earlier? It would serve you well in such cases because while it might look like you are saving money on such items, you are actually doing the exact opposite since you wouldn’t have bought the item in the first place if the offer wasn’t on display.
Reduce Credit Card Usage to its Barest Minimum
It feels comfortable and cool to charge stuff to your credit card, but you would be amazed when you realize the amount they add up to after a while. And this can usually come back to bite you from behind, especially if you don’t have the required cash to pay up.
Always use cash as much as you can when shopping to avoid spending money you don’t have.
Use Reusable Water Bottles
When you buy reusable water bottles, not only are you saving money by using filtered water from your tap, you also help the ecosystem by adhering to the principle of using biodegradable products.
Simply buying bottled water will only increase the waste on landfills and also endanger the life of the ecosystem. Educate your kids regarding a zero-waste lifestyle and encourage them to do the same.
Avoid Unnecessary ATM Fees
Most banks will charge you a convenience fee of up to $5 if you use an ATM that isn’t linked to them. Try using only ATMs linked to your banks to avoid such charges, and only use such ATMs when you are short on alternatives.
Use the Sun More Often
Most of us use the dryer because it is easy and convenient, but in reality, the energy cost isn’t. Except on wet days, prioritize using the sun to dry your clothes rather than a dryer.
Not only will you save a significant amount of money otherwise spent on energy, but you would also increase the lifespan of your cloth as research has proved that clothes that are hung to dry in the sun last longer than machine-dried clothes.
Bring Your Lunch to Work
This might sound outrageous, but a report states that Americans spend an average of $3000 a year eating out for lunch. Save that cash by making an extra plate during dinner, then pack it for work the following day.
Prepare your kids’ school meals when possible. Home cooked meals are healthier and money saver.
Take Advantage of Birthday Freebies
I know some of you don’t know, but merely putting your date of birth on your driver’s license or registering for company emails can open you up to receive free birthday stuff when the due dates arrive.
There are many birthday freebies you can sign up for – all you have to do is pick the one you are comfortable with.
Reduce Your Phone Bills
On average, phone bills can take you back as much as $100 in a month, a figure that is likely to increase if you have a big family. Always be on the lookout for cheaper plans asides from the one offered by your service provider so that you don’t overspend when you could be actually saving a lot.
There have been rave reviews on republic wireless – I suggest you give them a try.
According to the American Lung Association, smokers spent almost $289 billion on tobacco-related health issues. If you have a smoking habit, making a deliberate effort to stop will not only save you money but save your life as well.
It is no news that smoking can lead to heart diseases, lung cancer, and other medical issues that can make you more susceptible to the Covid-19 virus and other infections.
Asides from the apparent adverse health-effects and attendant costs, smoking can be an expensive habit. It costs up to $15 in some places, which will amount to $450 a month if you smoke one pack a day.
Don’t put your friends and family into a state of mourning and despair – be deliberate about cutting out your smoking habits, and use the money spent on cigarettes for something more useful.
Prioritize Working From Home
One good thing that came with the pandemic is the realization that we can work efficiently regardless of our location. Since the pandemic started, companies have opted for remote working to limit the virus’s spread, which has favored the employees.
As a working mom, being able to be closer to your kids for a change is gratifying.
You also get to save cash spent on gas and transportation, resulting in a significant amount of money saved. If there is an offer to work remotely, don’t hesitate – not even for a second.
Consider Eating Less Meat
According to the National Institutes of Health, overeating red meat has side effects such as diabetes and certain cancers. Just like tobacco, reducing your red meat intake will go a long way in saving you cash while keeping you healthy in the long run.
I’m not saying you should become a vegetarian, but having days when you avoid meat in totality will be an excellent way to save money and optimize your health. Again, for moms like you, you can never go wrong making healthier dishes for your family.
Ask for Samples Before Buying Prescribed Medications
Anytime your doctor prescribes a particular medication to you, always ask if there is a sample of the drug you can try. These samples will most times last you a while before needing a refill, thereby saving you some cash in the process.
Practice mindfulness in your daily activities, and you’ll discover more ways and situations where you spend more than you need to. Strategize on how to eliminate such wastes and turn them into daily habits. With time, you will see significant improvement in your finances.
This will further encourage you to double down on your saving efforts. To even reach your goals faster, complement these money-saving ideas for moms with additional ways to earn more money.