If you're like most mothers, then saving money is a top priority. Whether you want to set aside savings for your child's college fund or take a much-deserved vacation, a little extra revenue can go a long way toward reaching your financial goals. Fortunately, there are several simple tips you can follow to minimize expenses and pad your pockets:
1. Lower Your TV Bills
One money-saving strategy that moms often overlook is reducing their TV bills. Your little one will probably log plenty of TV time over the next few years, and minimizing this expense can save you a veritable fortune in the long run.
There are several ways to lower your TV bills – from changing providers to committing to a longer contract. If you want to purchase satellite TV, then consider buying a package from Direct TV for extra savings. Check this website to learn about current and upcoming discounts: http://satellitetv-deals.com/directv-internet.html.
2. Eliminate Unnecessary Spending
Many people spend money unnecessarily without even knowing it. For example, some people maintain gym memberships for $30 per month, and they never go – or they could save hundreds by purchasing at-home exercise equipment.
To eliminate these unnecessary expenses, create a budget so you can see exactly where your money is going each month. You'll be able to make more educated decisions, and you’ll have more control over your finances.
3. Reduce Your Number of Credit Cards
As noted in "Successful Budgeting 101: How To Start,” credit cards can lead to financial crisis. Specifically, people tend to overspend and develop past-due balances that hurt their credit. Also, these cards can generate interest that lands people in overwhelming debt.
To prevent this financial debacle, try to reduce the number of cards you have to one or two. Then, make a point only to use them in emergencies, and always pay your monthly bills on time.
4. Purchase Used Equipment
Entrepreneur reminds readers that buying used equipment is a wonderful way to save up to 60 percent off original prices. Of course, you shouldn’t purchase everything secondhand, but examples of used items that maintain their value include office furniture, copiers and computer equipment. Newspaper classifieds, auctions and Craigslist are three excellent sources for finding high-quality used items.
Haggling is a wonderful money-saving skill. You can haggle with almost any type of payment, including your cell phone and electricity bills. Service providers know that they are in competition with one another to keep your business, and this is why they are often willing to reduce their prices.
6. Cook instead of Going Out
Preparing meals at home can save you thousands of dollars each year – especially if you are feeding a family. The Internet is packed with healthy recipes and easy shopping lists to take the hassle out of cooking.
Start Saving Now!
Saving money is about more than affording luxuries; just $1 per day can be enough to pay your child’s college tuition. And any parent will tell you that financial security equals less stress. These six tips can get you started on the path toward more savings, less debt and a happier life.