9 Money Savings Tips for Mothers

9 Money Savings Tips for Mothers

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Being a mother is a rewarding experience, but it can also be incredibly difficult and expensive. This is especially true if you’re a mom of two or more children and are barely earning enough to meet your own needs.

Fortunately, there are ways to cut costs and save money as a mom. Whether you’re raising an infant, a toddler, or a young adolescent, here are nine tips for moms raising kids in every stage of life.

1. Buy in bulk

When you have the opportunity to buy non-perishable items in bulk, take advantage of it!

Buying in bulk saves you a lot of money in the long run because you’re getting more for what you’re paying for. Diapers, wipes, and formula are all examples of items that you can buy in bulk. You can also buy canned goods and hygiene products in bulk.

On top of the savings, you’ll also make fewer trips to the grocery store, which can save you a bit of gas money depending on the distance it takes to travel.

2. Reduce your spending

Take a close look at your budget and see where you can cut back on spending. Do you really need to follow that $5 daily coffee habit? Can you cancel your gym membership and exercise at home instead? Do you have a subscription to a service that you don’t use very often?

Little changes like this can add up to big savings over time. So if you’re desperately trying to save money as a mom, start by looking at your spending habits and see where you can slow down your spending.

3. Use coupons and promo codes

If you are a frequent online shopper, make use of coupons and promo codes whenever possible. There are many websites and apps dedicated to helping people save money with coupons and promo codes.

Some stores also offer loyalty programs that give members access to exclusive deals and discounts. That said, don’t convince yourself to buy something you don’t need just because there’s a discount. The goal is to save money, not spend more than you have to.

4. Shop at consignment stores

Instead of buying new clothes for your kids every season, shop at consignment stores instead. You can find gently used clothes for a fraction of the price of new clothes. Many consignment stores also sell other baby gear like cribs, strollers, and toys—which is perfect if you don’t have any of these items at home.

Alternatively, you can reuse and recycle clothes by passing them down to younger siblings. You may also ask your friends if their kids have outgrown any pre-loved clothes that they can pass down to your children.

5. Make your baby food

If you’re rearing an infant, you know that baby food can be expensive. A more cost-effective option is to make your baby food at home.

This may sound like a lot of work, but it’s something you can fit into your weekend schedule. All you need is a blender or food processor and some fresh fruits and vegetables. There are plenty of recipes online for homemade baby food that even the busiest mom can make! 

Not only is making homemade baby food cheaper, but it’s also safer since you know exactly what ingredients are going into their food.

6. Join a local mothers’ group

Mothers’ groups are a great way to meet other moms in your area and find support during motherhood. Many groups also host events and activities that can connect you with your local community and help you get some relevant tips on money-saving opportunities.

Additionally, some mothers in these groups are willing to donate or sell their gently-used baby items at a much cheaper price than in retail brands. By joining these groups, you can potentially find good deals on items for yourself and your children.

7. Apply for benefits

If you’re considered a low-income earner in Australia, you are most likely eligible to receive government financial support and rebates from most territories in the state.

For example, the Department of Social Services offers disability, aged care, and housing benefits for people whose income doesn’t reach a certain threshold.

There are also insurance plans that offer cheaper rates for low-income people who want to get car or home insurance.

Want to learn more about how to save money as a mother? Read this money savings tips article from Westpac for additional information!

8. Sell unused items

The reason why you want to save money is likely to have more to spend on the things you need. If reducing your spending isn’t fast enough, you can increase your personal savings by selling some of your unused items.

You can do this by holding a garage sale, listing your items on an online marketplace, or taking them to a consignment store. Not only does this route help you earn a little bit more cash, but it also doubles as a way to declutter your home.

9. Pay off your debts

If you have multiple debts—like a credit card balance and a personal loan—it might be in your best interest to focus on paying off the debt as soon as possible.

There’s a simple reason for this: by keeping your debt low, you can reduce the amount of money you’re spending on interest payments. This could, in turn, save you hundreds or even thousands of dollars in the long run.

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