Budget-Minded Families: Money Saving Tips and Tricks

As a stay-at-home mom, I know just how difficult it can be to live on one income. Trying to find that extra buck to save can be challenging, especially when you think you have cut back all you can. However, there are some easy ways to save money you may not have thought about. Here are some tried and true tips to help you stretch your buck and save a few!

Create a budget, and stay within it.
Whether single or married, creating a budget of what is coming in and going out is the first step in managing finances. Once you realize just what you are spending your money on, you may find there are some things you can cut back on.

Balance your checkbook.
While you may think this is not such a big deal, you are wrong. An up-to-date balanced checkbook will one, keep you in touch with how much you really have to spend, and two, remind you of just where all of your money is really going.

Get rid of most of your credit cards.
This includes department store cards (they usually have the highest interest rate)! By sticking to less than 3 cards with no annual fee and a low interest rate, you can keep your spending habits in check and still keep your credit rating up. Of course, it goes without saying that you shouldn't make purchases you can't pay in full the next month, but to each his own!

Brown bag it.
If you added up all of the meals, coffees, sodas, and snacks you bought at work in just one week, you would be shocked at just how much you are spending! Packing your lunch just once or twice a week will save you a few bucks, cash you can put into your savings account. If can't bring your own lunch, try purchasing your sodas in bulk at the grocery store and keeping them in your office, or (gasp) actually brewing your own coffee and bring a travel mug from home.

When grocery shopping, make a list.
And include an indulgence item or two so that you can actually stick to the list. Organize your list according to the aisles, and don't shop on an empty stomach (this goes for the kids too)! A warehouse club, such as Sam's Club, can be a great way to buy things in bulk you use a lot, but be sure you are actually getting a good deal, not just buying because of the price.

Brand loyalty gets you nowhere.
By buying the store brands, you can save a lot of money. Give them a try. If you find you don't care for the store brand, fine, but if you can't taste the difference, this means more money in your pocket!

Beware of coupons.
For some, coupons are a great way to help stretch a buck, but for those who are already shopping store brands and following a list, sometimes coupons can be useless. Don't buy something just because you have a coupon for it; if you don't need it, move on and give the coupon to someone else. There are some great websites for coupons, and the manufacturers of your favorite products usually offer them on their websites too.

Purchase birthday and holiday gifts throughout the year.
This may a hard one for some, but it is one of the best things I have ever done. Designate a box or closet for gifts; make a list of everyone's birthdays, anniversaries, and Christmas needs. After Christmas sales are a great time to rack up on gifts, but anytime during the year you can pick up things on sale, so when the event arrives, you are ready and don't have to run out last minute and spend more than you would normally. During the holiday season, you can imagine the excitement of not having to run out to the malls, knowing you have everything you need. This may not work for everyone's situation, but just having some generic gifts on hand for occasions can save both time and money.

Cut back.
By cutting back to basic cable, switching to a lower long-distance and cellular plan, you can really save a bundle. Or, get rid of long-distance altogether and use your cell phone or calling cards. Switch to free checking at your bank. They usually offer free savings accounts too.

Find your niche.
Whether it's on E-Bay selling your own bracelets, knitting baby blankets, writing for pay, or hosting Pampered Chef parties, there are lots of ways to help supplement your income from home. If you are crafty, try selling your wares online or at local flea markets or specialty stores. E-Bay is a great place to get rid of used items, from clothes to action figures. And if you know a lot of people, Avon is still a tried and true method to make extra cash. Be creative and use your talents!

I hope these tips help you to get a handle on your finances and encourage you to spend thoughtfully. It really is important to have a little saved for that rainy day, and honestly, you don't have to live like a pauper to put money away. By really planning your purchases and sticking to your budget, you will be not only happier, but in control of your financial destiny.