Moms are on the front lines of doling out allowances and shaping their children’s money habits. Mix and match these favorite money-saving tips!
- Cut Sponges in Half. Let’s face it: Sponges are disgusting. They’re covered with last night’s dinner and crawling with germs. Some mom’s recommend running them through the dishwasher. To save money, when you purchase a new one, cut it in half, saving the other half for next week.
- Become a Popcorn Lover. Who doesn’t love to snack? Just four bags of chips a month will cost $12, while a $4 jar of popcorn will make you almost 200 cups.
- Celebrate Free Kid Night. When you and the family need a night out, make it fun and frugal by choosing a restaurant that has good deals or “kids eat free.” The cost of a couple of kids’ meals range from $4 – $8 each.
- Think Borrow, Not Buy. Instead of buying new books and DVDs every time your kids want something different to read or watch, make weekly trips to the library to get a new selection of books and videos. Even for yourself a new book can cost $25, which could save you $300 a year.
- Drink More Water. Not only does drinking plenty of water have great health benefits, water drinking has financial benefits. Drink a big glass of water before each meal, and not only will you digest it better, you won’t eat as much, which will save you money on food.
- Stop Paying for your Checking Account. You shouldn’t be spending your hard earned money on maintenance fees. Checking accounts with no minimum balance requirement and even debit rewards are available!
- Be your own Baker. You can save big by doing your own baking. A 13 x 9-inch cake sells for $15 to $20; you can make one for around $4.
- Use Cash, Not Credit. Even before personal finance professional Dave Ramsey made his envelopes of cash famous, moms were relying on the same sort of system. It also sets a good example for kids to see real money being spent, and it sets very real limits too, on spending.
- Get a Crock Pot. A crock pot is perhaps the best deal for reducing cooking costs in a busy family. There are countless recipes out there for all varieties of food, and every time you cook this way, you’re saving money as compared to eating out.
- Master the 30 Day Rule. When you’re considering making an unnecessary purchase, wait 30 days and then ask yourself if you still want that item. Quite often, you’ll find that the urge to buy has passed and you’ll have saved yourself some money by simply waiting.