Show your son or daughter love with your presence, not with gifts. Experts say that giving them your undivided attention for just 15 minutes a day strengthens your bond and reduces the need to compensate by buying gifts.
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Mothers have always been the best managers, that much is known. However, this list includes other points that no modern mom overlooks when it comes to keeping personal and family finances under control (both now and in the future). Take a look and see if you've got everything covered.
1. Prioritize the budget
A budget is a great starting point, as it's crucial to know exactly where your money goes each month. Consider using pen and paper or a budgeting app on your phone to fully understand your expenses and identify areas where you can save.
2. Plan your meals in advance
Meal planning is a great way to save money. Planning your meals for the week not only helps you stick to your budget by avoiding impulse buys, but it also allows you to buy in bulk, which is often cheaper.
3. Buy in bulk
As we mentioned, some products can be cheaper when bought in bulk. Just be sure to compare prices first and buy only what you need and can store properly to avoid waste.
4. Buy second-hand
"Secondhand" doesn't necessarily mean poor quality. Many children's items, like clothes and toys, are barely used. They grow so fast! Check out physical or online thrift stores and even garage sales. You can find high-quality items for a fraction of the original cost.
5. Do it yourself
From dishes for special occasions to birthday decorations, there are many things you can make at home for a fraction of the cost. A quick internet search can provide countless DIY (do it yourself) ideas. This will save you money while being a fun activity.
6. Automate your savings
Automatically transfer a certain amount from each paycheck to your savings account. It's much easier to save money when it's done automatically and you don't see that amount in your checking account.
7. Teach children about money
Start teaching your children about money at a young age. This will not only help them become financially savvy adults, but it can also save you a lot of money in the short term. If children understand the value of money, they're more likely to understand your budgeting and saving efforts.
8. Show them your love without spending money
Show your son or daughter love with your presence, not with gifts. Experts say that giving them your undivided attention for just 15 minutes a day strengthens your bond and reduces the need to compensate by buying gifts that will never fulfill your child for a relationship with you.
9. Take care of your health and well-being
Remember that taking care of yourself is also an investment. As a mother, you have a fundamental responsibility to yourself and your family. Investing in your health can save you future medical expenses and will set a great example for your children.
10. Focus on your pension
Many mothers put their children's future before their own, but neglecting your pension could have long-term financial repercussions that will ultimately affect your entire family.
