Impulse purchases, overspending, and credit cards are the enemies of hardcore money savin’ mommas. They are burdens to the budget and threats to the family savings. Do you know if you’re a hardcore saver? Here are the things that can prove it.
1. A solid budget keeps the house afloat.
The only way moms can take control of the household is with a solid budget. It’s boring to write a plan every month, but that’s the only way to do it. For starters, there are online websites that recommend steps on how to create one for saving and another for spending money properly.
2. Expenses are always lesser than the income.
Now that a budget is set for the family and there are actual figures with which to work, a savin’ momma knows what her family can afford and what they can’t. Most people don’t admit that they’re doing too much spending especially when they have credit cards. This results to larger debt each month. Make it a habit to spend below your income.
3. There should be weekly savings.
A mom who knows how to save sets money aside every week and doesn’t miss out. On top of that, she increases the amount every pay day. Where does the money go? To educational plans, emergency expenses, and personal savings accounts.
4. Dining out is a privilege, not a habit.
Limit dining out with the family to save up on food budget. We all know how costly this is compared to cooking at home. Another advantage is you can cook healthier dishes. Make this a bonding experience the entire family can enjoy.
5. Spend cash than swipe.
It’s easier to track all the spending when you use cash for transactions, not the tricky credit card. The feeling that money is slipping from your hand doesn’t feel right, so you know you want to save more of it.
6. When in doubt, stay at home
If you aren’t sure of how to keep all the spending at bay, the best thing a hardcore saving mom does is stay at home. There’s no way shopping can tempt you or dining out will ruin savings. If you need a hobby, try reading, walking at the park, or playing with your children.