Save Time and Money with these money saving tips.
With today's uncertain times, it is imperative that you have 3-6 months of expenses set aside.
Are you like most American's who live paycheck to paycheck? Or do you have some savings, but feel like you can never reach that 6 month mark?
Mama, we need to talk. From one Money Saving Mom to another, I want to share my secrets with you
Why is it, we are comfortable talking to our girlfriends about everything EXCEPT money? We can talk about recipes, how to handle potty training, and even sex. But money is just not on the table.
Today, we are changing that. Here on Relative Growth, I'm not going to hold back; I am going to show you the tips and tricks on how to become a money-saving mom. We are going to talk about Budgeting, Savings, Groceries, and everything else to help you Stop Dreaming and Start Living a Financial Free Life.
I have been there, and for some steps, I am still working towards our financially free goals. I want to share how we got out of $15,000 in debt, saved up enough money to buy a house in the Bay Area in California, and started a family. All debt free, traveling to fabulous places like Hawaii and Disneyland, and making great memories.
5 Secrets to Save Your Money
1. What's Your Why? – Before we even talk about how to save your money, you need to know your why. Why are you budgeting? What are you saving for?
Working Through Dave Ramsey's Baby Steps
Whatever it is, you need to get crystal clear on why you are budgeting. When you know to your core that you are budgeting to be able to have a "Rainy Day" fund, it will be a lot easier to walk past the $10 latte.
2. Create A Budget – Go ahead say it, I know what you are thinking it. Creating a budget is hard and boring. BUT it's the foundation to your financial success. Knowing how much you are currently spending in each category will help you decide what can be cut and what can be redirected over to savings or paying off debt. This takes some time upfront to set up and gets faster every month. I promise! Check out this article to help you put together a budget.
3. Pay Cash – This is, by far, my favorite tip to save your money. I go back and forth on using cash and credit cards. I love getting my Costco rebate check at the end of the year because it feels like free money. BUT we always pay off our credit card at the end of the month.
When to switch over to a "Cash Diet":
Spending gets out of control
I want more control over the money
That means all expenses, except for bills, are paid in cash. Yes, that includes amazon (just buy an amazon gift card with cash at the store). It is a lot harder to spend cash. You separate wants versus needs really quickly as you visually see your monthly cash allowance disappear.