Sandy Scherschligt is married with five children and is the editor of The Baglady’s Guide to Elegant Living. She is the co-founder of a national Financial Education company and co-authored Mind Your Money, Mind Your Business, Mind Your Bank and the BOSS. Sandy also performed the role of credit coach, consulting individuals in the area of debt and credit.
=========================================
I love talking about saving money almost as much as I love actually saving it for my family. When I decided to write this article, I immediately went to my best source. I interviewed several real live moms on the sidelines of my son’s soccer game. Here is a composite of their fantastic ideas that are really easy to implement and will help you keep more of your hard earned cash.
Slashing Grocery Bills. Typically after housing costs, keeping food on the table is our next largest expense. I have five kids to feed (and on many days half the neighborhood as well). I finally broke down and bought a Sam’s Club membership. I have been amazed at how much I have been able to save. Every gallon of milk I purchase at Sam’s yields over a one dollar savings. This alone adds $30.00 back into my family budget every month.
Buying your groceries in bulk saves not only immediate cash on the items purchased but prevents you from going to the store as often. These added trips use up more gas which you guessed it, costs more money. If you are purchasing for a smaller family you can still benefit from a Sam’s Club or Costco membership by shopping with a friend and splitting up the larger quantity items. Also, shopping at local food co-ops allows you to support local businesses and save money at the same time. Just taking action in this one area could easily save you $100.00/month.
Entertainment. Everything costs more these days and going out is no exception. I’ve discovered a unique way to keep things exciting and allow us to try new places at a greatly discounted price. GroupOn is a free service which gives you discounts on restaurants and local entertainment in most cities across the country. Just click on this link to begin the savings. Taking charge in this area can yield a savings between $50-$100/mth.
Smart Shopping. You can almost always find what you are looking for on Craigslist or eBay. I never buy anything until I’ve checked these sources first. I am amazed at the savings and convenience of shopping online. Again, you save money on getting the best deal, you save money on gas and you definitely don’t impulse shop when you are not physically walking through the mall. Savings can add up to over $100/mth.
Saving Swaps. Forget the home parties where you spend money, organize swaps with your friends and you will all come out ahead. The favorite swaps for young moms are children’s clothing, books, or toys. Simply gather up those items you can no longer use but are still in great shape and get together with others to swap items you can use.
Instant Infant Savings. It’s such a big moment when baby is ready for their first solid food. But all those little jars consumed (as well as smeared) add up to quite a bit of money. You want the very best in nutrition so you often buy the all natural brands that cost even more. For fifteen dollars you can buy an electric food grinder. Grinding up fresh food right off your table will not only save you money, but gives you a peace of mind knowing what’s going into your baby’s mouth. The savings on this item are estimated to be around $40/month.
So you can see that saving money isn’t all that difficult, deciding what to do with that savings is another story but the possibilities are endless. Take action on these ideas and then celebrate your success.
Visit my blog at http://www.empowernetwork.com/time4life
