Frugal Mom: Essential Family Finance Dos and Don’ts

May 9, 2018

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Sometimes making the books balance and ends meet can be a challenge, especially when you have a young family to take care of as well. However, there are some strategies that you can stick to that will help you stay on top of your finances. Check out the post below to find ways to help your family finance situation.

 

Do coupon.

Couponing might seem like a pretty lame way to spend your evening, but when you work out the massive savings you can make, you may change your tune. In fact, collecting magazine inserts from friends and family around the neighborhood, can not only save you money but gain you free products, as well as the opportunity to be paid for taking stuff out of the store!

The thing about couponing is that it’s only possible to do at this level in the US, as other countries don’t have things like dollar sales, Catalinas, and the like. This makes it a is a fantastic opportunity to be grasped that will save money every week and help you to build up a massive stockpile of food and household goods. Checkout out the video below for some detailed information on how to do this.

Don’t discount bankruptcy as an option.

Now, mention the word bankruptcy and shivers of fear go down most people’s backs. After all, you can end up losing everything if you are bankrupt, right? Well, that isn’t always the case, especially if you file for chapter 7 bankruptcy as this is a form that allows you to keep specific exemptions. Some of which can include your car, home and other assets.

Of course, mom’s whose families are suffering financial hardship need to know this information, because in some situation it can be better to declare bankruptcy and start afresh than try to keep up with all the crushing debt and run a successful household in which their kids can grow up.

 

Do save for the future.

Of course, moms need to think about the future as well as what is going on day to day with regard to money. In particular, costs such as vehicles for the kids, and paying for college education are things that can weigh heavy on a momma’s mind.

That is why it is vital to start saving for these as soon as possible, even if it’s just a small amount that you tuck away each month. Then over time, if it is invested wisely, you will be able to earn a decent return.

 

Don’t use online shopping as a recreation activity.

Yes, there are some folks that see visiting the Mall as a competitive sport, but things can really get out of hand if you start to shop online for fun rather than need.

After all, at least at the Mall, you have to stop when you can carry anything else. However, this just isn’t the case online, and with the ability to order thing to be delivered on the same and the next day, spending unnecessary money can be an addiction that not only gets out of hand quickly but can also seriously hurt your family finances in the long term.

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