Mothers Who Work: Tips, Advice on Work, Starting A Spare-Time Business, Family and Wellbeing

Tag: Money

  • How to Earn Rewards on Spending

    How to Earn Rewards on Spending

    As a mother, it’s important to be savvy with your money. With so many expenses, it can be easy to let your spending get out of control. However, there are ways to be smart about your spending and even earn rewards in the process. Here are a few tips on how to do just that.

    1. Get a rewards credit card.

    If you are strategic about your credit card use, you can actually earn rewards such as cash back or points that can be redeemed for travel or other purchases. Just be sure to pay off your balance in full each month to avoid interest charges.

    2. Join a loyalty program.

    Many stores offer loyalty programs that give you points for every purchase you make. These points can often be redeemed for discounts on future purchases or even free items

    3. Use coupons.

    Coupons can help you save big on everything from groceries to clothes to pampering products. Be sure to take advantage of any coupons or deals that you come across. You’ll be surprised at how much you can save!

    4. Make the most of cashback.

    Websites such as TopCashback allow you to receive a certain percentage of your online purchase back, which you can build up on your account over time and withdraw at a later date. Bigger purchases will generally give you more cashback, but even the smaller purchases where you earn back just a few pennies really start to add up over time.

    There are many ways to save money as a mother, but did you know that you could actually earn rewards on your spending? By using a rewards credit card, joining store loyalty programs, and taking advantage of coupons, you can stretch your budget further and enjoy some great perks along the way. So next time you’re making a purchase, keep these tips in mind and start earning those rewards!

  • How to Set a Budget and Stick to it

    How to Set a Budget and Stick to it

    Mums are always looking for ways to save money. Whether it’s finding the best deal on the food shop or looking for sales when purchasing clothes for the children, there is always room to save money. One area that is often overlooked when it comes to saving money is creating and sticking to a budget. Follow these simple steps and you’ll be on your way to creating a budget that works for you and your family.

    Step 1: Determine Your Income

    The first step in setting a budget is determining how much income you bring in each month after taxes. This will be the starting point for all of your future budgeting. You can use an online calculator to help you determine your post-tax monthly income. 

    Step 2: List Your Expenses                                   

    Now that you know how much money you have coming in each month, it’s time to start listing out all of your expenses. Be sure to include both fixed expenses (e.g., mortgage/rent, car payment) and variable expenses (e.g. food shopping, fuel). If you’re not sure where to start, check out Mint’s expense tracker which can help you get an idea of where your money goes each month.

    Step 3: Set Priorities                                             

    Once you have all of your expenses listed out, it’s time to start setting priorities. What expenses are absolutely essential and which ones can you cut back on? For example, if you’re trying to save money, you may want to consider cutting back on dining out or adjusting your subscriptions to companies such as Netflix or Amazon Prime.

    Step 4: Find Ways To Save                                             

    Now that you know where your money is going each month, it’s time to start looking for ways to save money. One easy way to do this is by setting up a budget and tracking your spending using an app like Mint or You Need A Budget (YNAB). By tracking your spending, you can quickly identify areas where you are overspending and make adjustments accordingly. You can also look into automating your savings so that a certain amount of money is transferred into savings each month automatically.

    Creating and sticking to a budget doesn’t have to be difficult or painful. By following these simple steps, you can develop a budget that works for you and helps you achieve your financial goals. And don’t forget – if at first you don’t succeed, try again! It may take some trial and error before you find what works best for you and your family. But once you do, sticking to your budget will become second nature.

  • How to Use a Credit Card Responsibly

    How to Use a Credit Card Responsibly

    Being a mother is hard enough, but when you’re also trying to manage a household budget, it can feel like an impossible task. One area where many mothers struggle is using a credit card responsibly. If you’re trying to get your finances in order but aren’t sure how to use your credit card wisely, read on for some helpful tips.

    Tip #1: Know Your Credit Limit

    The first step in using your credit card responsibly is understanding your credit limit. This is the maximum amount of money that you’re allowed to spend in a day, week, or month. Once you know your limit, you can start planning your purchases accordingly. It’s important to remember that just because you have a high credit limit doesn’t mean that you should spend close to it every month. In fact, it’s best to keep your credit utilisation rate—the amount of your credit limit that you typically use in a month—below 30%. That way, you’ll avoid paying interest and damaging your credit score.

    Tip #2: Track Your Spending

    Another important tip for using your credit card responsibly is tracking your spending. This means keeping tabs on all of the purchases that you make with your card, as well as any associated fees. Many mothers find it helpful to use budgeting software or apps to track their spending. That way, they can see exactly where their money is going and make changes accordingly. Once you know where your money is going, it’ll be easier to make responsible choices about future purchases.

    Tip #3: Make More Than the Minimum Payment

    When it comes time to pay your credit card bill, be sure to pay more than the minimum payment. This may seem like common sense, but it’s something that many people don’t do. If you only make the minimum payment each month, you’ll end up paying more in interest and extending the life of your debt. So, even if it’s tight some months, try to make more than the minimum payment whenever possible. Your future self will thank you for it!

    Using a credit card responsibly isn’t always easy, but it’s definitely doable with some effort and planning. By following these three simple tips—knowing your credit limit, tracking your spending, and making more than the minimum payment each month—you’ll be on your way to financial success in no time!

  • How to Save Money on Groceries

    How to Save Money on Groceries

    If you’re like most families, your grocery bill is one of your biggest expenses. But it doesn’t have to be! With a little bit of planning and creativity, you can easily save money on groceries without sacrificing the quality of your family’s diet. Here are 5 tips to get you started.

    1. Make a budget and stick to it

    The first step to saving money on groceries is to figure out how much you can realistically spend each week. Sit down with your partner and determine what you can cut back on in other areas of your budget in order to free up some extra cash for groceries. Once you have a number in mind, make it your goal to stick to it as closely as possible when you’re at the store.

    2. Plan your meals ahead of time

    One of the best ways to save money on groceries is to plan your meals ahead of time. This will help you avoid impulse purchases and make sure you only buy what you need. Planning ahead also allows you to take advantage of sales and coupons. Not sure where to start?

    3. Make a grocery list…and stick to it!

    Once you’ve planned your meals for the week, make a grocery list of all the ingredients you’ll need and try not to deviate from it when you’re at the store. It’s easy to get sidetracked when you’re staring at rows upon rows of tempting treats, but if you can resist the urge to buy things you don’t need, you’ll be amazed at how much money you’ll save in the long run.

    4. Buy in bulk when possible

    If there are certain items that you know your family goes through quickly, consider buying them in bulk the next time you’re at the store. This is often a lot cheaper in the long run than buying smaller quantities more frequently. Just make sure you have enough storage space at home, and that the items won’t go bad before you have a chance to use them all up!

    5. Shop around

    Finally, don’t be afraid to shop around in order to get the best deal on groceries. Compare prices at different stores, both brick-and-mortar and online, and look for sales and specials before making your final purchase. You may even want to consider growing your own fruits and vegetables if space permits. A little bit of effort upfront can really pay off when it comes time to check out!

    Grocery shopping doesn’t have to break the bank! By following these simple tips, you can easily save money on groceries without making any major changes to your family’s diet or lifestyle. So what are you waiting for? Put these tips into action today and start saving!

  • How to Give Yourself a Financial Check-Up

    How to Give Yourself a Financial Check-Up

    Just like you schedule time for regular doctor’s appointments and dental cleanings, it’s important to schedule regular check-ups for your finances as well. These “financial check-ups” help you stay on track with your money goals and ensure that you are making progress towards your long-term financial goals. Not sure where to start? Here are four key areas to focus on during your next financial check-up.

    1. Review your budget

    The first step in any financial check-up is to review your budget. Are you still sticking to the budget you created? Have there been any changes in your income or expenses that require you to adjust your budget? This is also a good time to take a close look at your spending patterns and identify any areas where you may be able to cut back.

    2. Check your progress on debt repayment

    If you have debt, the second step in your financial check-up is to evaluate your progress on repayment. Are you making headway on paying down your debt? If not, what can you do to make debt repayment a priority? This may require some creative thinking, but there are always options available if you’re willing to get creative.

    3. Review your investment portfolio

    Investments are another key area to focus on during a financial check-up. Are your investments performing as expected? Do you need to make any adjustments to your portfolio in order to stay on track with your goals? This is also a good time to rebalance your investment portfolio if necessary.

    4. Evaluate your insurance coverage

    Finally, don’t forget to take a close look at your insurance coverage during your financial check-up. Make sure that you have the right amount of coverage for both yourself and your family. This is especially important if you’ve experienced any major life changes recently, such as getting married or having a child.

    `

    By scheduling regular financial check-ups, you can make sure that you are staying on track with your money goals and making progress towards long-term financial success. Reviewing your budget, your progress on debt repayment, your investment portfolio, and your insurance coverage are all key components of giving yourself a financial check-up .Don’t wait until it’s too late—schedule your financial check-up today!

  • How to Create a Savings Plan and Stick to it

    How to Create a Savings Plan and Stick to it

    It’s no secret that saving money can be tough, especially for families. Between mortgage/rent, utility bills, childcare costs, and everyday expenses, it can feel like there’s nothing left over to put into savings. But the truth is that saving money is possible for everyone—it just takes a little bit of planning and effort. In this blog post, we’ll explore some tips and tricks on how to create a savings plan that works for you and your family.

    1. Determine your financial goals.

    The first step to creating a savings plan is to figure out what you’re saving for. Do you want to save up for a down payment on a house? Do you want to have an emergency fund in case of unexpected expenses? Or are you looking to retire early? Once you know what your goal is, you can start developing a plan to get there.

    2. Figure out how much you need to save each month.

    This will vary depending on your financial goals. If you’re looking to save for a down payment on a home, you’ll need to save more each month than if you’re just trying to build up an emergency fund. A good rule of thumb is to try to save 10-15% of your monthly income.

    3. Automate your savings.

    Once you know how much you need to save each month, set up automatic transfers from your checking account into your savings account. This way, you won’t have to think about transferring the money every month—it will happen automatically.

    4. Make cuts where you can.

    Take a look at your budget and see where you can cut back in order to free up more money for savings each month. Maybe you can pack lunch a few days a week instead of buying lunch out, or cancel that gym membership that you never use. Every little bit counts!

    5. Stay motivated.

    Saving money can be difficult, but it’s important to stay motivated throughout the process. One way to do this is by setting up smaller goals along the way—for example, vowing to save £500 by the end of the month instead of thinking about the larger goal of saving £10,000 over the course of a year. This will help you stay on track and see progress being made even when it feels like things are moving slowly.

    Saving money can be tough, but it’s not impossible—especially if you have a plan in place. By following the tips outlined above, you can develop a savings plan that works for you and your family. And before you know it, you’ll be well on your way to meeting your financial goals!

  • Managing Your Money While on Maternity Leave

    Managing Your Money While on Maternity Leave

    Having a baby is an amazing time that comes with a lot of changes, both physically and emotionally. One other change that happens when you become a parent is your income. If you’re used to working full-time and bringing in a regular paycheck, transitioning to maternity leave can be a shock to your finances. In this blog post, we’ll give you some tips on how to manage your money while you’re on maternity leave.

    Prioritise Your Spending

    One of the first things you should do when preparing your finances for maternity leave is to take a close look at your spending habits. What are your regular expenses? What can you cut back on? For example, if you normally go out to eat several times a week, maybe during maternity leave you can scale back to once a week or even every other week.

    You should also consider any new expenses that come with having a baby. Do you need to buy any new clothes or equipment? Will you need to purchase diapers, formula, or food for solid foods? Adding a baby to the mix means adding some new expenses, so it’s important to factor those in as well.

    Save Where You Can   

    Once you have an idea of what your regular expenses are going to be, start looking for ways to save money where you can. Maybe there’s a cheaper option for your TV or internet service. Or perhaps you can get by with a cheaper phone plan. If you’re able to cut back on some of your regular expenses, that will free up more money in your budget for other things.

    Make Use of Budgeting Tools    

    There are lots of different budgeting tools available online and through apps these days. Find one that works for you and make use of it! Having all of your financial information in one place will make it easier for you to see where your money is going and make adjustments as needed.

    There are a lot of budgeting apps available to help you with managing your money while on maternity leave!

    Managing your finances while on maternity leave doesn’t have to be difficult—it just takes a little bit of planning and prioritising. By taking a closer look at your spending habits, cutting back where you can, and making use of budgeting tools, you’ll be able to make the most of your money while enjoying this special time with your new baby!

  • Keeping Track of  Your Monthly Expenses

    Keeping Track of  Your Monthly Expenses

    Money management is one of the most important skills a mother can have. Between food shopping, clothes and extracurricular activities, it can be difficult to keep track of where all your money is going. One way to get a handle on your finances is to make a monthly expense list. Here we have put together a guide to help you start monitoring your monthly expenses.

    1. Start with a blank sheet of paper or spreadsheet.

    2. Label the columns with the following categories.

    • Date
    • Item
    • Amount
    • Payment Type (cash, cheque, debit/credit card)

    3. Enter all expenses for the month in the appropriate columns. Include everything from food shopping and fuel to clothes and entertainment.

    4. At the end of the month, review your expense list and look for patterns. Are you spending more money than you realised on eating out? Are there certain items that you could cut back on? Use this information to make changes in your spending habits for the following month.

    5. Repeat steps 1-4 each month to get a clear picture of your spending habits over time. With this information, you can make adjustments as necessary to ensure that your money is going where you want it to go.

    This is just a guide for the steps you can take to build your own monthly expense list. You may feel that you need to add more information about certain expenses or perhaps adjust the timings for certain bills, such as those that are quarterly instead of monthly.

    A monthly expense list is a helpful tool for any mother trying to keep track of her finances. By taking some time each month to review your spending habits, you can make changes as necessary to ensure that your money is being spent in the way that you want it to be spent. With a little bit of effort, you can get your finances under control and provide security for yourself and your family.

  • 5 Easy Side Hustles For Busy Professionals

    5 Easy Side Hustles For Busy Professionals

    We’re all looking for ways to make a little extra money. If you’re a busy professional, you may not have a lot of time to dedicate to a full-time job outside of your normal working hours. Thankfully, there are plenty of side hustles that you can do to bring in some extra cash without having to sacrifice too much of your precious free time. Here are 5 easy side hustles for busy professionals:

    1. Start a blog

    If you’re passionate about a particular topic, why not start a blog and share your knowledge with the world? You can easily set up a blog in less than an hour, and it doesn’t have to cost you a penny. Once you start gaining traction, you can start monetizing your blog through advertising or affiliate marketing.

    2. Do some freelance work

    Have a skill that others are willing to pay for? Use sites like Fiverr or Upwork to find freelance work that you can do in your spare time. Whether it’s writing, design, web development, or something else entirely, there’s bound to be someone out there who needs your help — and is willing to pay for it.

    3. Take on some odd jobs

    Odd jobs are the perfect way to make some quick and easy money without having to commit to anything long-term. From dog walking and yard work to housekeeping and errand-running, there are all sorts of odd jobs that people are happy to outsource. Check out TaskRabbit or Craigslist for opportunities in your area.

    Housekeeping is just one job you can take on in your community, even if it’s just a couple of hours per week.

    4. Sell your stuff

    We all have unwanted items taking up space in our homes. Why not make some money by selling them? You can list your items on eBay, Facebook Marketplace, or Craigslist, or take them to a local consignment shop. Getting rid of clutter has never been so profitable!

    5. Participate in market research

    Companies are always looking for consumers to give their feedback on products and services — and they’re willing to pay for it! Sign up with a market research company like 20|20 Panel or MindSwarms, and you could earn cash (or even prizes) for participating in studies from the comfort of your own home.

    There are endless opportunities for busy professionals to make some extra money on the side — you just need to get creative! With a little effort, you can easily boost your income without having to sacrifice too much of your valuable free time.

  • How to Set a Budget and Stick to it

    How to Set a Budget and Stick to it

    Mums are always looking for ways to save money. Whether it’s finding the best deal on the food shop or looking for sales when purchasing clothes for the children, there is always room to save money. One area that is often overlooked when it comes to saving money is creating and sticking to a budget. Follow these simple steps and you’ll be on your way to creating a budget that works for you and your family.

    Step 1: Determine Your Income

    The first step in setting a budget is determining how much income you bring in each month after taxes. This will be the starting point for all of your future budgeting. You can use an online calculator to help you determine your post-tax monthly income. 

    Step 2: List Your Expenses   

    Now that you know how much money you have coming in each month, it’s time to start listing out all of your expenses. Be sure to include both fixed expenses (e.g., mortgage/rent, car payment) and variable expenses (e.g. food shopping, fuel). If you’re not sure where to start, check out Mint’s expense tracker which can help you get an idea of where your money goes each month.

    Step 3: Set Priorities       

    Once you have all of your expenses listed out, it’s time to start setting priorities. What expenses are absolutely essential and which ones can you cut back on? For example, if you’re trying to save money, you may want to consider cutting back on dining out or adjusting your subscriptions to companies such as Netflix or Amazon Prime.

    Step 4: Find Ways To Save 

    Now that you know where your money is going each month, it’s time to start looking for ways to save money. One easy way to do this is by setting up a budget and tracking your spending using an app like Mint or You Need A Budget (YNAB). By tracking your spending, you can quickly identify areas where you are overspending and make adjustments accordingly. You can also look into automating your savings so that a certain amount of money is transferred into savings each month automatically.

    Creating and sticking to a budget doesn’t have to be difficult or painful. By following these simple steps, you can develop a budget that works for you and helps you achieve your financial goals. And don’t forget – if at first you don’t succeed, try again! It may take some trial and error before you find what works best for you and your family. But once you do, sticking to your budget will become second nature.