Saving money within the household

Saving money as a mom starts with the family. It is not possible to save money when everyone in a household yearns for different items such as clothes, a new toy or an expensive watch.

As a mom and wife, most women feel intimidated by the daunting fact of not being able to give their loved ones what they need. Not to mention if something should happen to them. There are two very simple ways of saving money within a household, and all members of the household can pitch in to help!

Parents should learn their children from a very young age how to spend and save money. When going to do the weekly grocery shopping, give your child a reasonable amount of money and give them three options; they can either spend all the money at once, spend some of it and put the rest away or they could put all of it away and in that manner, save for a bigger, better item. Explain to them that saving would be better as opposed to spending it all at once. It might not feel as good as it should (because we all know how badly children can want a specific item), but learning your child from a young age to save money, will in the long run, give them a much better future.

Another way of saving money within the household is to make lists of the items needed and the items wanted. Items needed are most important such as groceries and bills that need to be paid in order for day-to-day survival. Those items should be taken care of as soon as possible. After those items have been paid, can you look at your items wanted list such as luxuries and subscriptions. It is utterly important to first take care of the basic needs of your family and then their wants. This is another project the whole family can join in. By learning your children to take care of their basic needs first, you help them to manage their own budgets when they have their own families.

In order to learn your children to save money, you as individual have to learn to save money. It may seem like an impossible thing to do but with only a little effort and self-control, you will manage. A very easy and simple way of saving is when walking into a store ask yourself, do I need this item? Believe me, most of the time the answer would be no! Saving is all about self-control and discipline. Without those two character traits, saving will be a nightmare.

If saving gets you down, reach out to moms in your community. Once you speak to them, you will realise that you are not alone. Women should stand together and help one another to make saving within the household a breeze. Saving should not be a headache, it should be fun! Start today and help your family make saving a day-to-day adventure!

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