It’s easy, when you have kids, to throw in the money-saving towel and resign yourself to the fact that, as long as your kids are at home, you’re going to be a bit poorer than you would like, After all, the stats show that the average cost of raising a child ‘til the age of 18 in the UK is a staggering £230,000! However, you’d be surprised by how easy it is to make savings by making a few simple changes in your everyday life.
So, without further ado, here’s what you can do to start channelling your inner money-saving mama:
Draw Up a Budget
Every money-saving mama knows that the first step to saving money lies in knowing how much you actually spend. If you don’t know this one simple thing, then you won’t be able to make the right chances which have the biggest impact on your family finances. Luckily, there are lots of excellent tools, like this budget planner, which will help you to work out your incomings and outgoings. Then work out where savings can be made.
Switch Your Utilities
If you’re like the millions of other people across this nation who have not even thought about switching utility suppliers in the past 12 months, chances are you’re paying over the odds – something no money-saving mama would stand for!
The good news is, it’s never been easier to find a better deal on your energy thanks to companies like Irish electricity supplier Pinergy, which offer low-cost pay as you go energy tariffs, and the likes of Money Supermarket which make it simple to compare prices. Switch, and you could save hundreds of pounds each year!
Check Your Entitlement
As a parent, chances are you are entitled to some form of free government money somewhere down the line, so if you want to be a savvy mama, you should sit down and take the time to see if you’re entitled to childcare vouchers, child benefit or anything else that could help your family save more. https://www.gov.uk/browse/benefits/families is a good place to get started. Just make sure that all information you provide is accurate to ensure you don’t miss out!
Meal planning might sound like a bore, and you might not think that it makes much difference, but you’d be surprised. When you know exactly what you are going to eat for the next seven days, and you have all the ingredients you need to be written down on a list, not only are you less likely to be tempted by unnecessary items in the aisles, but you will also waste less, thus saving money. If you combine meal planning with bulk buying foods, then the savings can be really huge!
Learn to Say No
This one’s a toughie, but if you’re serious about being a money-savvy mama, you need to practice flexing your no-saying muscles. Your kids might want that new phone or the latest video game, but they won’t die without it and as long as their basic needs are met, they’ll be fine!
Are you a card-carrying money-saving mama? What are your top tips for spending less and saving more?