It’s hard enough being a mother – add in holding down a job or working on your business as well – and the task of making everything fit into a seven-day week becomes especially challenging.
The same is true when it comes to finances. Money and time can often be a trade-off and convenience will come at a price. Sometimes you have to reach into your purse just to free up your day. A taxi or Uber will always get you to work quicker than the bus. Spending half an hour over the stove at the end of the day may be budget conscious, but one phone call sure can provide dinner far more quickly!
So how can you save money while still having enough time to get through each day? Here’s a few of our best suggestions:
- Cook in bulk. Preparing meals is time consuming but it takes the same amount of time to prepare one meal as it does two, three or even a week’s worth. Pulling a meal out of the fridge or freezer and reheating can be just as quick as a pizza delivery, but you’ll enjoy the feeling that your bank account will benefit. It’s probably healthier too!
- Make a habit of saving. Money that sits in front of you has a habit of being spent. Have you noticed how the bills always seem to arrive straight after payday? We all tend to spend whatever is in front of us, so the trick is to not leave it sitting where it can be spent. It seems like a simple suggestion, but set up an automatic payment that sends a portion of your regular wage to your savings account where it can’t be touched. Most banks let you create linked accounts online. You might think you will struggle without it but you’ll probably be surprised to find it’s not an issue.
- Order your groceries online. This can be a double win. Not only do you save yourself the time-consuming process of a visit to the supermarket (double headache if kids are involved) but you can save money as well. Although there is normally a delivery fee for grocery delivery, ordering online can prevent you from making spontaneous purchases. Supermarkets invest heavily on getting you to spend more with end cap displays, special stands, even food sampling. Budget blow out is much easier to avoid if you minimise the opportunity to be sold to.
- Get a good money app. Failing to track your spending is where most people fall down. Money can slip through your fingers so quickly. Thanks to the internet there are dozens of apps out there, many of them free, that will help you keep tabs on your spending and become more aware of managing your money. What you measure you can control.
- Review your expenses. The biggest bills for most families are food, accommodation, transport and entertainment. The first three may seem like necessities you have no choice over but there are always ways of cutting costs in these areas and channeling that money towards a savings account. Once you have an app set up, it becomes easy to see where the cash is going. Then ask some tough questions about which expenditure is really giving you bang for your buck.
Focus on the positive. The question isn’t ‘Why can’t I save money?’ but ‘how can I start to save money?’ Once you’ve reshaped your thought process the plan becomes considerably easier.
You’re not expected to do it alone, especially if you have clear savings goals. Our simple, quick, free service connects you to the best independent financial advisers, based on your needs. Click here to get started.
The information in this article is general in nature and does not take into consideration your personal situation or circumstances. You should consider whether the information contained in this article is suitable to your needs and where appropriate, seek professional advice from a financial adviser or other finance professional.