Living on A Budget as a Stay at Home Mum

Kiran Singh

Deciding to leave a job and stay at home with your kids can be challenging. You might do this as a way to nurture their children early in life. Perhaps you want to support the career goals of your partner. Maybe you would like to make the transition permanently to be more present at home. Whatever the reasons, being a stay-at-home parent means you ought to make lots of sacrifices. You will likely live on a tighter budget as you transition. Yet, making a family work on a single income is possible yet challenging. In this guide, we will cover a few ways to help you live on a budget as a stay-at-home mum.

Living on A Budget as a Stay at Home Mum

Make Cheap Meals at Home

The first place to cut more on your budget is on what you eat. It is time to be an economical shopper. For example, start cooking more at home. Buying prepared meals and eating out at restaurants will be more costly than making meals at home. As a stay-at-home mum, take advantage of your time at home and prepare healthier and cheaper meals. Before going to the store, be familiar with everything in your pantry. Plan meals around food items you already have and avoid wastage and the expiry of your shopping. Making epic dinners every other night is not necessary. However, you can squeeze in meals that are budget-friendly by finding quick and easy recipes online to help you learn how to make your favourite restaurant meals at home. This will make all the difference in your overall budget!

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Use coupons and sales

These two are great tools for saving money if you can use them wisely. After all, you don’t want to impulse buy just because there is an offer! Think of it this way. Having a sale or a coupon as a pass to splurge is not the way to reduce expenses. So, restrict yourself to items that will substitute for other things you would buy. Use them on items that you would still buy anyway. That is not to say that you should reward yourself once in a while!

Most stay-at-home mums get caught up in handling lots of issues that they forget to take care of themselves! Your days might be as busy as any spent at the office. Why not reward yourself with nice outfits from an affordable online shop for apparel and other gifts? Go ahead and look put together and comfortable, and kill it with your chic yet mom-friendly style. Again, do it on your budget to avoid hurting other parts of your finances.

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Tip: Set aside a few minutes every week to organize and gather new coupons and trash out the old ones. Keep them in a container or a particular place and arrange them either by expiration date or category. This will help you plan on things like meals for the week and choose recipes depending on the deals you find.

Shop Around

To get the best deals, compare everything as you shop. It works on everything from car insurance, groceries, customer rewards programs, credit card rewards, clothing, prescription drug prices, and more.  Compare it all. Look around at different rates and get better deals to save you more cash

Budget Holidays and Birthdays

Birthdays and holidays are often our weak spots. When it comes to special occasions, we tend to splurge a lot. However, we can still have these events while sticking to our budget. Go ahead and open separate savings account to fund holidays and birthdays and set a limit.  Take advantage of special sales throughout the year and shop before the occasion. Parties don’t have to be extravagant to be fun. Keep the party small and simple. Invite just a few friends over, make the food, and party games at home. Again, consider using discount options for cars, hotels, flights, and others, to save more!

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Set a Budget

A budget gives you total control of your money. A budget is essential to help you figure out how to afford a stay-at-home mum. There are plenty of budgeting tools to help you out if you are just getting started. You must know where your family stands financially. This will help you figure out how to afford your lifestyle. More importantly, acknowledge where to scrimp and save. Staying on a budget will also help you avoid unnecessary debt since a budget will help you live within your means.

It is important to remember that there are certain expenses you need to eliminate as you craft your budget. Especially those that you may have had while working. If you need occasional help with childcare, you can often avoid the cost of professional childcare by relying on friends and family instead of spending money on nannies and babysitters.

Budgeting is vital. It lets you see exactly how much you are spending and how you can save your money. You can use free apps and tools to help you budget better as a mom.

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Supplement Income

You may need a plan to supplement the income you’ll be moving away from when you stay at home with the kids. Well, it depends on the level of income of your spouse and your way of handling finances. There are a couple of ways to make money from home. The beauty is that most of them offer the flexibility you will need as a working mum.  If writing is your strong suit, go ahead and try freelance writing. Alternatively, you can also become a virtual assistant, a blogger, an online tutor, etc. Most of the gigs allow you to work from home on your schedule. Working from home will allow you to bring in a supplemental income without sacrificing the rewards of being a stay-at-home mum.

Wrap Up

Your time spent as a stay-at-home wife or mum could turn into a nightmare without financial stability. The key to successfully budgeting to living on one income is saving money as a stay-at-home mum. Hopefully, this guide will help you save more money and make the most out of what you have.

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