How to Save Money: The Mama Way

Many people think that the economic state of things is really different than it has ever been, but that just isn’t true. For the everyday person working for the food put on their table the economy is very much the same as it has always been. We have ups and downs and sometimes a few inside outs. That’s why it is important to learn how to save money, and why not learn the mommy way.

1) Evaluate what your needs really are. Today a lot of people confuse their wants with their needs. As much as you may want that top TV package that offers the most channels do you really need it? Most people don’t and can get by on a cheaper TV package that offers fewer channels. Look into those other luxury costs too. Like the internet and phone bills.

2) Check out bargains on clothing. You may need nice clothes for work and/or school, but you don’t need them for the rest of your everyday life. Try checking out clearance and outlet stores. You can also find great deals on clothes at consignment shops. This is a really great idea for the kids. They can have their nicer clothes, which can also be found on sale, and then they have their play clothes.

3) Start a “happy day fund.” A happy day fund in my home is a big glass jar filled with change and random dollar bills that get stuffed in there during the week. Sometimes I do have to dig into it, but it’s a nice way to save a little extra and have a backup fund in case you need it. Once the jar or box gets full, count it out and drop it into a savings account.

4) Budget your food expenses. Most people do this to some extent, but you can always push it a little further if you really need to. The best tip to save on food expenses is to write out a list of what you need, and stick with it while you are at the store. Lots of people spend way more money than they meant to because they buy things they don’t really need or wasn’t on their list. Sticking to your list can save a lot of money and time spent in the grocery store.

5) Stash away a little from each paycheck. If you are working the number one fastest way to save money is to take it directly from your paycheck to your savings account. If could be as little as five dollars a week or as much as you feel you can afford to stash away, but over time it will add up.