So you have recently become a mother, and you have noticed that your monthly expenses have increased tremendously. With a baby in your household, a vast array of new living costs have emerged and that’s normal, but in order to not face worries regarding your financial status you will have to start rethinking your budget and come up with effective ways to save money. However, that doesn’t mean you should sacrifice all of your pleasures or the living quality you have become used to along the years, you just need to resort to the right tricks. There are a few simple things you are able to do, which will facilitate a proper budget maintenance and help you overcome the stress that might be linked to the way you are managing your finances now. Here are a few tips on the subject that will certainly help you out in the monetary department:
You shouldn’t exclude accepting hand-me-downs
Whether it’s someone from your family, or a close friend, thinking about accepting hand-me-downs is a great way of saving money. From nursery cribs to strollers, everything you will now have to buy for your baby will be quite expensive, especially if you want high quality. Considering that toddlers grow up so fast, and replacing clothes and other necessary items will be demanded with regularity, why not look into a more affordable alternative. Usually, baby items don’t have the time to get damaged or look too used, so accepting things from your acquaintances whose children are already grown instead of making expensive purchases will help you save more money than you would imagine. Some of the clothes you’ll receive might not have even been worn more than once, so they will be as good as new, only requiring a thorough wash. And this is something you can also do for other moms when the time comes. This is the perfect way of not spending too much money, while still making sure you have everything you need for your child.
Reassess your car insurance policy
Once you start analyzing how much money you are regularly spending on insurance, you will notice that the said amount is actually making a hole in your budget. When you weren’t faced with parental responsibilities, giving too much attention to this topic didn’t seem necessary, but now, you will need to cut down on costs wherever possible. Take a look at your current policy and start browsing for more affordable alternative. Nowadays, there are numerous cheap auto insurance companies that can provide you with customizable packages that suit your specific needs. Policies have become quite flexible lately, and if you haven’t reassessed your options in this department for a long time perhaps now it’s when you should consider doing that. You might be currently wasting money on policy specifications that you don’t exactly need. Also, if you have more than one car, you should discuss with your spouse and consider selling one. This way you won’t only save money on insurance (considering each vehicle demands its own coverage), but on gas as well. You can make a small effort and share a ride with your partner.
Buy your baby supplies in bulk
From diapers to baby wipe and powder, you will start needing a wide range of products that need constant repurchase, because you will soon see how fast they run out. These things require quite a lot of money on a monthly basis, but once you do a bit of research and find the right stores, you will discover that buying your baby supplies in bulk can be far more affordable. While buying in bulk or bulk sized might demand a higher price initially, the long term savings will be quite appealing ones. You will easily find shops that provide great discounts for large purchases, so research your options and see where you can access the lowest prices. Also, buying in bulk can be a good idea for other items you might frequently use around the house, such as cleaning products or laundry detergent. And with more than enough supplies, you won’t find yourself one day in the situation of needing formula or diapers, for example, and noticing you have run out and have to run off to the store in the most inconvenient moment.
Resort to coupon sites
Coupon sites have become a great saving tool for families. Nowadays, there are plenty of sites on the internet that allow you to access great deals on a wide variety of purchases, and the discounts provided aren’t at all insignificant. Electronics, cleaning supplies, and even food deals are available through the right coupon platforms. A single discount might not seem like much, but if you use this purchase technique on a regular basis, the saved money will add up to a pretty large amount. You can use coupons even for a night out at the restaurant, if you feel like treating yourself but are on a budget.
Gain some extra cash
While you are on maternity leave, you can find a method of gaining some extra cash, without having to actually go to a traditional job. Nowadays, people are earning cash at home through various easily accessible methods. Freelance writing in your spare time, virtual tutoring lessons for a couple of hours a day, translations, blogging, and even selling old items you no longer need on forums – there are plenty of great options you can consider, depending on your skills. This sort of activities can fit easily in your mom schedule and can help you increase your income.
Once you bring a child into the world, all of your priorities start changing, and your living expenses start increasing more than expected. Because you probably still want to maintain a comfortable living quality, adopting a few money saving strategies that aren’t that difficult to pursue will be necessary. You will find the above mentioned ideas quite useful, and the amount you will manage to save can actually add up, allowing you to leave your current financial worries behind.