Did you know that a new deals website can save you quite a bit when shopping for yourself or your kiddos? Or that budgeting your money will help you hold onto it longer? Since Christmas, my husband and I have been working toward making changes in our finances. We are planning to clear out as much debt as possible in 2013, so it’s important we go into the year with lots of knowledge.
With all the researching I’ve done online, I have come across several money saving tips that can help other moms as well.
Money Saving Tips for Moms
1. Online shopping is a must! Buying on the internet can typically save you money over buying in store. You can easily compare deals across websites, so you know the cheapest place to make your purchase. Coupons and promo codes are also at your fingertips when you are shopping on the web.
2. Budgets are your friend! No matter what you are planning to purchase, having a strict budget for it will help you save money. Moms are typically in charge of birthdays, holidays, and every other special occasion in between. Divvying up the money for each expense will allow you to cut corners and save a few dollars.
3. Cut back where you can! Take a look at your current expenses. Is it possible to lower your cable bill? Decrease the speed of your internet or amount of cell phone minutes? We recently took advantage of this money saving idea and switched to Netflix only. The change allows us to pay way less than half what we were paying for our satellite dish.
4. Start that savings! Whether you want to pay off debt or save for a rainy day, a savings account is vital. If your (or your spouse’s) paycheck is directly deposited into your bank, consider setting up an automatic transfer. Have a few bucks go straight to your savings each pay day. Just $20 can make a difference! It’s money that you will not miss, and it will add up if left in the account for several months.
5. Stop carrying cash! Some may think that having cash keeps you from using credit cards. However, if you really want to save money, reduce your spending to checks or debit cards. No cash on hand keeps you from buying those little things that can quickly add up. I hate putting $1.50 on my debit card just for a drink, so I wait until I get home, saving myself some money!
Feel free to share your best money saving tips in the comments below!
This post is brought to you by MyDeals.com.
About Kecia
HATE BUDGET. I think I hide it and it always kicks my butt
It hasn’t always been our friend either!
But it does help us keep track of where our money is going.
Your ‘no cash’ one is interesting. I’ve read studies that show that people will spend more when using a card (credit or debit either one) because it “hurts” more to hand over $100 in cash than it does to swipe a card for $100 worth of stuff. But I can understand how for you personally it saves you money on those small purchases. It never bothers me at all to put small amounts on my debit card so I think that tip just depends on your habits and personality.
I had always heard to carry cash too…until we started doing it. It made small purchases much easier to make…and they pile up fast! I agree, it’s probably a preference thing.
Great ideas! I’ve put a few into practice but need to get better at tracking things.
I am definitely a fan of online shopping! I agree with carrying cash too, it makes you think before parting with it more.
Somewhere mom’s can find savings but often forget to price shop is in the healthcare sector, don’t forget to comparison shop because those healthcare bills pile up quick!
Thanks for sharing your tip, Sara! I agree that healthcare should be compared before choosing which to buy.
I like the idea of carrying less cash. There is no way I would just put one drink on my debit card but am always willing to shell out the cash for the same item.
I totally agree, Brandy! It definitely doesn’t benefit us to carry cash…it’s gone too quickly.
Getting out of debt will set you free! You can do it, this will be your year! I just wrote a post about the debt movement, its a pretty interesting way to get people motivated to get rid of their debt, it’s a whole community movement where people commit to getting rid of their debt as much as possible in 90 days and they are giving people money to help get rid of their debt to those families that really show they are doing it..love the concept.
Thank you for the encouragement, Isra! Your story has been inspirational and I cannot wait until we can shout that we are debt free. The debt movement sounds interesting. I will check out your blog to read more!
Thanks for the advice tips!! I agree– I use the “card” system vs. the “cash” system.
I created a rolling budget for our fixed expenses (mortgage, car loans, medical bills, utilities (averaged over 12 months) insurance premiums. I then do a budget for our discretionary budget (food, gasoline, clothing, entertainment, holidays and events). Makes it a little less of an intimidating process. I have three daughters and we buy all of their clothing at thrift and consignment stores, everything but socks, underwear, and shoes. I make my own laundry soaps and cleaning products. I do not buy any packaged snacks, everything is homemade. If you want to save $ planning is a must. Every season I go through the kids things and clean out the things that are worn out or too small, I take an inventory of what they still have the is wearable, and suppliment their wardrobe with only the items they need. These are just a few of the things that I do to save money.
Shopping from online websites and Stop carrying cash both will be most beneficial to save money.