Here are five practical money-saving tips to help mothers build some financial security bit by bit.
1. Shop Only For Essentials
Pregnancy insomnia is a good excuse for shopping away at 4 am, but it will not only add extra clutter but also strip away precious money. Mums would fair really well if they make a list of essential items the baby will actually require and shop only for those.
Here are some things to consider when shopping for your baby:
- FEEDING ESSENTIALS– Mums must work out their feeding plan before the birth of their babies. This way, they would know exactly what feeding essentials they need.
- DIAPERS– Nappies are the most obvious requirement of every child, with approximately twelve diaper changes in a day. Buying diapers in bulk falls a lot cheaper, but it is wise to only stock up for the first few weeks post-delivery. The diaper needs of babies can change quite rapidly, so it is better not to go overboard.
- SLEEPING ESSENTIALS– Mums would save quite wisely if they strictly remain within a fixed budget and their home suitability when choosing a sleeping setup.
- PRAM OR PUSHCHAIR– Consider cheaper alternatives when buying a pram or a pushchair. Baby carriers and slings are always cheaper options.
2. Set a Family Budget
It is imperative for mums to be well aware of the finances. You must pour over the bank statements each month to review how much money the household makes and how much it spends. Based on that, you must also verify the needs and wants of your family.
Mums must acquaint well with the necessary expenses of the family, including groceries, mortgage, rent, bills, diapers, utilities and etc. From there on, mothers must strive to purchase only the necessities and cut back on luxury or unnecessary spending.
3. Use Discount Codes
Mums can make every penny count by using discount codes. Before any purchase, a little research on in-store voucher codes and discount offers can help save a decent sum. The only thing you need to do is make a list of the items you need to buy and then look for discount codes or saving deals the stores are offering.
4. Avoid Big Brands
Most human beings are of the mindset that the bigger the brand, the higher the quality will be. This is a complete illusion since many standard versions and smaller manufacturers also provide high-quality products at far lower prices.
Stick to the cheaper alternatives when purchasing necessary items. You can safeguard your family’s health and well-being by checking the ingredients of the product and picking those you find suitable.
5. Cut Back On Household Bills
Be a smart mum by adopting cheaper energy options, mobile deals, and broadband. At the end of the year, this little practice could save you hundreds of pounds. This is even more important if you and your partner are remote workers.
Staying home all the time would mean more eating, water, and electricity usage, and all these could potentially increase your bills. The prospect of switching energy need not sound dull; sure, it will take lesser time than you imagine but will guarantee more remaining money in your account each month.
This article was written by Credit Counsellors Australia. For more information about living debt-free and managing your budget in these tough times, visit their website today.