I know that times can be tough occasionally, and the family budget can take a beating every now and again. As a mom, it can be one of your priorities to balance the books, ensure the bills get paid and everyone has what they need to function.
But with that can come the stress and extra pressure. Especially if the figures are just not adding up. Life can get in the way sometimes, and things can surprise us like unexpected bills when we least expect it. But how can you make your family budget work for you?
There are tweaks and changes you can make to your spending habits and how you manage the family budget. I thought I would suggest to you some of the actions and steps that you could take to make it happen. First of all, make sure you have exact figures for things. This will help you get a clear idea of where your money is going each month. Once you have scrutinised your outgoings versus your income, you can attempt to make some of the changes suggested below.
Time to reduce the food bill
One of the first things you can start to reduce would be the food bill. Traditionally, this can be one of the biggest outgoings you have per week after your mortgage or rent payment. Thankfully, it is one that is in your complete control. A great tip would be to try meal planning. This can help you put together a list of the things you need, and stop you from wasting food or spending money when it isn’t necessary. You could also look at making some changes to the places you shop and the type of food you buy. Choosing to have an extra meat-free evening to save on buying meat, if that is an option for your family.
Make debt a priority
Debt can also become a big part of your outgoings, and while you may not have had that intention, it is a fact of life that people have some debt around them at different stages of their lives. Instead of burying your head in the sand with it, take control of the situation. You could start with receiving some advice from specialists and experts who could give you some of the options that you have. Or, you may be able to start paying things back yourself. A top tip would be to pay back the debt that costs you the most in interest first.
Switch and save
When you begin this journey, you will have itemised what you spend on other outgoings such as energy and insurance. But when was the last time you changed providers for those things? Many companies save their best deals for new accounts, so loyalty may not be paying off for you. Switching could give you some amazing savings each month. Doing this sort of check regularly will ensure you always pay the lowest possible price for what you need.
Be savvy with your shopping
Shopping can often be one of those things that can cause you issues. Your children and family members need things. They are always growing, and yes, that means you need to spend money. However, it doesn’t need to dent the bank balance as much as you think. You can actually, use discount codes and vouchers in order to find what you are looking for and save some money in the process. Plus sales are always a great place to shop and buy ahead of time.
Recycle where possible
Recycling isn’t just about your waste and garbage; it is also about recycling older things from your older children for your young ones. Toys, clothes, and uniforms, can all be stored and then reused when the time comes. It can be a great way to make some savings on those essential purchases that you know are on their way.
Plan as much as you can
Finally, planning can be a great way to ensure that you do all that you can to make some savings. You can plan birthdays and occasions. You can take time to plan Christmas by putting together lists of what you need to buy and save for. You can also plan for vacations. Planning can help you save and prepare for what spending you need to make, so it doesn’t hit you too hard when the time comes.
I hope that these tips help you to boost the family budget and feel more in control of your finances.