How To Achieve Financial Freedom :: The “How” {Part 2}


Last week I shared with you How To Achieve Financial Freedom :: The “Why” {Part 1}. If you haven’t read it yet, check it out first, and then come back to get more tips to save money for your family!

Ideally you’ve already sat down with your partner and honestly discussed your financial situation.  You’ve figured out what your big financial why is…whether it’s making sacrifices so you can live on one income, saving for a family vacation, or being able to afford the right school for your little one.  Although each family’s situation and financial why will be different, an overlapping theme for everyone will be spending less money in at least one area or category (or maybe multiple!)

I wish I could outline an easy-to-follow budget here, but the truth is, everyone’s budget will look different depending on whether you have a mortgage or are renting, if you have car payments, student loans, credit card debt, etc. etc.  However, I can give you some #reallifemom tips to save money, from fellow moms!

dollar-941246_1920Tips to Save Money:

  • Kick off your new budget with a Zero Spending month. Fellow blog contributor, Jen, has embarked on a “No Spend September” to kick start her family’s new budget. Other than bills and food, they are not spending money on  a n y t h i n g  else!
  • Follow the cash envelope system.  We put all of our grocery and “fun” money into envelopes; designate a certain amount to each, withdraw that amount on pay day, and then deposit that money into our envelopes. We create an envelope for each category and week.  So, we have “Groceries – Week 1” with a certain amount of money allocated, “Fun – Week 1,” etc.  Being able to physically see the money leaving your hands makes it much easier to keep track of your budget for that category.
  • Find some online inspiration to follow: Mr. Money Mustache, Dave Ramsey, Krazy Coupon Lady, and a fellow local mama on Forbes: Janet Berry Johnson are a few of my favorites.
  • If you’re a Target addict, get their Red Card Debit Card-you save 5% on all purchases, and also download the Cartwheel App on your phone and scan all your items before you checkout for possible coupons! To be honest, I rarely go to Target anymore because it’s too tempting, but if I do, I always save at least a few dollars off my total with my Red Card + Cartwheel App.
  • Empower older kids with their finances by dividing all birthday checks or babysitting money into three categories: save, spend, and share (charity) so they learn the value of money now.
  • Buy in bulk with a friend. Leave the kiddos at home and go to Costco (did you see our FREE Costco event coming up?!) with a fellow mom, and split your purchases. That way you get the benefit of wholesale pricing without having to buy 28 rolls of paper towels at once. 🙂
  • Ditch the cable and switch to one or all of these: Netflix, Hulu, Amazon Video and HBO Now.
  • Your local library is your friend. Free story time, books to check out, movies to rent, and most have a fun play area for the little ones too!
  • Go meatless! We only eat meat 1-2 times a week and it saves us a TON of money. Bonus: we are expanding our taste buds with vegetarian choices, and it’s good for our bodies and environment.
  • Buy your kid’s toys and clothes at consignment stores only. If you bring items in to sell at the same time, you may be able to leave with items without spending any money! Local favorite: Hissyfit’s
  • Check out local Swip Swap groups on Facebook or Buy Nothing Communities for free or discounted things.
  • Go au natural. I haven’t gotten my hair done or a mani/pedi in about 5 months. I never thought I could be happy without treating myself to those things, but right now I am more motivated to hit our financial goals than worrying about my dark roots. Plus, when I need to treat myself I’ve found that a bubble bath with lavender essential oil, epsom salt + a good book make me feel just as good!
  • Check out your local Farmers Market and make friends with the farmers. I’ve found that not everything is cheaper at the Farmers Market but certain things are!
  • S A C R I F I C E ! Let yourself think outside the box for your family and not get stuck thinking you need to live in a certain (traditional) way. A few sacrifices families have made to accomplish their financial goals: sold their house and moved into an apartment, figured out a way to live with only one car in the family, and/or turn your hobby or daydream into a side business to supplement your income.

Do you have any mom saving money tips you want to share? Comment below or share with #nphxmoms on Instagram.  Stay tuned for next week’s post which is going to be all about your long term financial plan!



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