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7 Savings Tips for Moms - Carrie Pink

I had the pleasure of being a guest on Tiffany The Budgetnista Aliche’s Ask The Expert. 

For those who don’t know Tiffany is like the Suze Orman of Personal Finance in brown skin and has an amazing public community on facebook called the Dream Catchers that is over 250,000 women and a private membership site called the Live Richer Academy of over 5,000 women. 

Our topic was Saving Tips for Moms and I wish I could have had you all there but it was a private Google Hangout just for her community, however I wanted to give you guys the highlights of the conversation especially with back to school season coming up! 

1. Set A Budget-

When it’s time to decide how much you need to spend, no matter the expense, groceries for lunches/snacks, back to school clothes, supplies, make sure the first you do is set a budget! 30% savings & debt, 50% living expenses, 20% lifestyle choices & spending (Grab my free budget template for more details) 

2. Huddle With The Team-

Make sure everyone in the family is aware of the fact that there’s a budget in place especially in the miscellaneous spending category. I call it setting the box. If I commit $500 a month to lifestyle choices and spending that has to include my hair, nails, extracurricular’s for the kids, date nights with the husband, birthday party gifts, brunch with the girls, and when the money is done, I’m staying home! 

3. Look for discounts –

Stretch your spending money even further by looking for discounts. Want to go to brunch? The movies? Wine tasting? USE A GROUPON, there are so many coupons and discounts available on their site and to all your favorite retailers, Target, Sears, even high end department stores like Nordstroms! Also sign up and use their reward programs and membership discounts too, Costco travel club is the TRUTH for hotel and rental car discounts (I’m talking $135 a week), AAA too. 

4. Don’t be afraid to say NO-

To your kids, your friends, your family. No one cares about you or your financial future as much as YOU do!! 

5. Keep a stash of frequently used items-

Do your kids get invited to lots of birthday parties? Buy notecards in bulk and write each one personally, go to after Christmas sales and buy a toy stash on clearance as birthday party gifts the following year. 

6. Be creative and think outside the box,

Don’t compete with others on status on events, baby showers, weddings, etc 

7. Double check the deal-

Make sure the sale price posted is really a sale. Retailers sometimes just slap a sale sign on something without changing the actual price! 

Bonus #1 –

Be a needs based family! Don’t let shopping be a leisure activity or a hobby… 

Bonus #2 –

There’s no prize in paying full price! For anything! 

If you enjoyed these tips, share them with your friends, follow me on instagram or join my Haute Pink Mom Tribe! 

xoxo

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