Budgeting Tips if You’re a Stay At Home Mom – Part 1

stay at home momAre you a fulltime stay at home mom? If so, you have absolutely nothing to worry about, because many have come before you and many will come after you. As a matter of fact, did you know that as many as 5 million women in America are stay at home moms? Some of these women had to leave some great paying jobs, just so they could be at home and take care of their children. These women were able to find ways for their family to live off of a single income, even though they were used to having two incomes in the home at one point. However, living on a single income isn’t going to be easy and you most definitely will have to make sacrifices.

A lot of moms get really stressed out at first and wonder if they’ll be able to make it, but after a while, but once they continue to push forward and make the necessary changes to their lifestyle they say that they are happy they made the decision to become a stay at home mom. First of all, they get to spend a lot more time with their children and make sure they’re taken care of, but they also conquer the challenge of living a very modest and frugal existence. Being a stay at home mom means that you will have to give up on material objects and focus more on life’s simple pleasures. Also, since you’re become a much more financially aware person, you’ll be able to teach your children the importance of the dollar and how to live on a budget.

Below are some tips that I’m going to give you today that I’ve learned over the years, as I’ve been a fulltime stay at home mom for many years now and I’ve learned from experience, which is the best teacher. Just make sure you follow these tips and keep a positive attitude while trying to implement them into your lifestyle. Trust me; these tips will certainly make life a whole lot easier for you. Are you ready to get started? If so, you can scroll down right now.

Determine Where Your Money is Going

It sucks, but you’re going to have to do a decent bit of work when it comes to budgeting. I hate to tell you this, but skipping the candy bar or a bottle of soda while at the checkout lane in order to save some cash isn’t really going to cut it. It’s important that you sit down and start figuring out where all of your money is going. Figure out how much of your money Is being spent on the things below:

  • Bills
  • Credit Cards
  • Food
  • Entertainment
  • Utilities
  • Gas
  • Internet
  • Cable
  • Cell Phones
  • Etc…

Also, you need to get your receipts and bank statement out. Basically, you want to think of everything you’re spending money on and how much.

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