Helpful Financial Tips for Life as a Busy Mum #parenting #money #budgeting

Unfortunately, spending money is way easier than earning it, and if you do not carefully track and manage your expenses as a busy mother, you can quickly find your finances in the red. With needing to dine out frequently, daycare costs, dry cleaning, and other services, you can end up spending a lot of money for the sake of expediency.


If you feel like most of your income is being gobbled up by the high expenses of the busy mum’s lifestyle, here are some tips to help you save money.

Create a Realistic Budget

This may sound unglamorous and cliché but drawing up a spending budget is one of the best things you can do to keep a firmer rein on your finances. Why? A budget will help you stay on track with your spending.

Start by making a list of your family's long term financial goals. Next, come up with a plan of action by tracking your expenses against your monthly income and cutting out the non- essentials. Then comes time to ensure that these payments are always met.

More often than not, you will be able to automate payments through your current account with standing orders for important recurring bills such as utility bills, mortgage payments, car payments, and so on.

Finally, plan how you will spend what's left. For example, you may want to set a specific amount of money aside for your children's future fund, extracurricular activities, entertainment, dining out and more.


Look for Free Entertainment

Entertainment is one of the major things households with kids spend on - but this doesn't always have to cost you an arm and a leg.

Why spend a lot of money on entertainment when there is a lot of free fun to be had in your town? Look for free family events and activities listed in your newspaper, online, or check your local library for more information on story hour or playtime.

Choose an Eco-friendly Lifestyle

Making the decision to switch to an environmentally friendly lifestyle isn't only great for the planet, but it saves you money. What's more, these changes do not have to be major.

You can begin by using energy-saving bulbs in place of traditional lighting, reusable water bottles and cloth napkins in place of disposable alternatives etc. You may also consider using solar power where possible or taking greater care to recycle at home properly.

The little daily savings you make will amount to large savings over time, leaving you with more money to save and spend on the things that really matter to you.


Plan for the "What ifs"

Insurance: Consider taking out insurance policies that will aid your family if anything were to ever happen to you. These could include life insurance, for example, so your family is supported in the event that something bad happens to you.

Emergency reserves: Aim for savings that can cover at least 3 months of your family's expenses.  In the unfortunate event that an emergency arises, your household will be able to weather this period of uncertainty without you while also considering drastic cuts in spending or scrambling tofind other sources of income.


This post may contain affiliate links. If you click on one of these links and make a purchase, I may receive a commission for referring you. This in no way affects the price you pay. I only suggest resources and items I believe in and highly recommend. You can read my full disclosure statement on our Work with Me page.