8 Money Saving Hacks Every Mom Should Know

As a mom, I’m always looking for ways to save money so I can spend my hard-earned cash on actually having fun with my family. Whether it's planning a weekend getaway, indulging in a special treat, or preparing for unexpected expenses, having a bit of extra cash can make all the difference. Over the years, I've discovered some fantastic money-saving hacks that have helped me stretch my budget without sacrificing on quality of life for my loved ones. 

Today, I want to share these valuable tips with fellow moms who are on the lookout for clever ways to save money and make the most of every penny.

1. Create a clear, easy to follow family budget:

Okay, I know this doesn’t seem like a way to actually save money but hear me out! Over the years of running my family’s finances, I've come to realize that the foundation of effective money saving lies in having a well thought out family budget. When everyone in the family is on board and sticks to the budget, it becomes easier to achieve financial goals, reduce unnecessary expenses, and have extra money for the things that truly matter. You might be thinking, well duh! but a lot of people assume they are on the same page to only later find out that what saving looks like to them is very different to someone else. Having an in depth conversation with a list or spreadsheet to write in budget amounts is crucial to reaching your goals in the long run.

2. Embrace the Art of Meal Planning:
One of the most significant expenses for any family is food. When I ran the numbers for my own family a few years ago, I was shocked at how much we were spending on groceries and eating out. It’s amazing how fast a $5 coffee here and $7 gas station trip there will add up! To save money on last minute “what’s for dinner” orders and unnecessary extra groceries, consider adopting meal planning into your schedule. Take some time each week to plan your family's meals and create a shopping list based on your planned recipes. This simple yet effective strategy will not only help you cut down on food costs, but also reduce your family’s food waste and lower impulse purchases at the grocery store and last minute eating out.

3. Shop Smart with Coupons, Cashback, and Reward Programs:
Before heading to the store or making any online purchases, make it a habit to check for coupons and cashback offers. There are plenty of websites and apps that provide digital coupons or cashback incentives on various products. I’m always checking these before I shop because they add up! Seriously, these small savings over time can significantly impact your overall spending. And a lot of the coupons nowadays are just buttons you click on an app. How much easier can it get?! Additionally, if you haven’t already you need to sign up for the reward programs offered by your favorite stores. Many of these retailers have loyalty programs that allow you to earn points or receive exclusive discounts on future purchases. Some examples of these are gasoline discounts, free food or drinks, or free gift cards to that store. By taking advantage of these reward programs, you can maximize your savings and get even more value from your purchases. You’re already shopping there, why not get free stuff too?!

4. Just DIY it!:
Maybe it’s the school teacher in me, but I love me a DIY project! You can make homemade gifts, furniture, decor, jewelry, cleaning supplies and all sorts of home improvements yourself by reading online articles and watching how-to videos. You might not be amazing at everything you try but with a little patience and practice you might even find a new hobby you love! I refinished my kitchen cabinets a few years ago and have been obsessed with DIY home improvement and decorating ever since. And considering I saved us literally thousands of dollars in the process I can definitely attest that DIY projects can lead to substantial savings. Get creative and involve your kids and family! Not only will you save money, but I promise you'll also create amazingly fun memories in the process.

5. Buy in Bulk (Strategically):
While buying in bulk can be an excellent money-saving strategy for certain items your family frequently uses, it's essential to be strategic about it. Staple items like rice, pasta, canned goods, and non-perishable items are often more cost-effective in bulk. However, be cautious with perishable goods, as they can lead to unnecessary waste if not used in time. There’s nothing worse than thinking we’re going to easily go through that 15 pound bag of oranges only to realize I don’t actually have a small sports team to feed. Now I’ve actually lost money and wasted a bunch of food.
It’s also important to price check and compare if the item you’re buying in bulk is actually cheaper than the standard size item bought in large quantities (sometimes it’s not!). Check out my other post on How to easily compare product costs to save more money and My favorite money saving items to buy from Costco.

6. Consider Second-Hand Shopping:
Kids grow up fast, and their needs change constantly. Instead of splurging on brand new clothes, toys, and baby gear, explore second-hand stores, garage sales, and online marketplaces. You'd be surprised at the quality items you can find at a fraction of the original price. I love thrifting and always try to bring my family along. Everyone almost always finds something they love, even my super picky teenager!

7. Unplug and Save on Energy:
Teaching your family to be mindful of energy consumption not only benefits the environment but also helps you save on utility bills which can add up!Encourage everyone to power off electronics when not in use, turn off lights when leaving a room, and to be mindful of heating/cooling costs by not opening windows and doors during peak hot and cold seasons. You can also switch little by little to energy efficient lightbulbs and appliances to help save money.

8. Set Up an Emergency Fund:
Creating an emergency fund is crucial for financial security. By setting aside a small portion of your income regularly, you can build a safety net for unexpected expenses. This is critical for reducing the chance of resorting to credit cards or loans in an emergency which can be super costly if not paid off right away.

In conclusion, as a mom, saving money is all about making conscious choices and finding creative solutions. By incorporating these money-saving hacks into your daily routine, you can create a more financially secure future for your family while still enjoying the precious moments together. Remember, it's not about deprivation but rather making thoughtful decisions that allow you to have the best of both worlds – financial stability and quality family time. Happy saving!

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