Types of Savings every mum Should have

One of the main stressing issues that all parents have is about money. We want to make sure that we raise our children with all the comfort and care that they deserve.

Here are some money saving tips that will help you raise your baby with some financial stress relief:

1.Emergency fund

Create an emergency fund. Every month put some money aside. This will help you to cope if you have any unexpected situation. You should have 6 to 12 months of monthly expenses (bills, groceries, rent, etc) saved.

2. Baby Savings

When expecting a baby all our priorities change, everything circles around this beautiful life that is about to join us in this amazing world and we often forget how much we are going to need to spend on the first stages. So, during the pregnancy make sure to gather all that you’ll need for the baby’s daily care.

See among your friends and family if they have any baby’s furniture that they no longer use, to lend you.

Make a list of all the items you’ll need and start purchasing them now. Look for sales, make choices and you’ll be able to save money and have quality products.

3. Create activities/holiday funds

On your financial budget make sure to put some money aside for weekend activities and holidays with your children. Plan ahead where you’re going and save money monthly so that, within your budget, you can enjoy to the fullest these amazing moments with your family, Look for fun free activities and create great memories at a low cost.

4 .University fund

Start to save small amounts of money per week. If you start doing this on a regular basis you’ll be amazed at the savings you made through the years. Start when you’re children are young and, by the time they turn 18, you’ll have a comfortable university fund for them.

I hope these tips will help you.

Thank you for meeting me halfway.

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Money saving tips for parents

This is a constant worry, always in the back of our minds: having that financial security so that we can raise our children with all that they are entitled to have and experience in their lives. Proper education, health care, clothes, sports, activities, all of it.

Here are some smart choices that I’ve may, that I hope will help you as well.

1.Putting money aside.  

For me this tip was gold!

From the moment my daughter was born, I started to put aside 2$ per day. This was such a small amount, that I felt no impact on my daily expenses. So, on my daughter’s first birthday I had saved 728$! For me, being the only family provider, this was amazing!

In 52 weeks I saved this! With no impact on my weekly budget. So I just continued to do this for 18 years. I was a very proud mum when I gave my daughter, on her 18th birthday, 13,104$ in savings! This made a huge impact on her life! She started her own business, her dream job!

No matter how old your children are, if you start doing this now, it will make a world of difference in your children’s lives.

The more you can put aside per week, without affecting your weekly budget, the more you’ll save in the long run:

So, if you can save $5 per day, at the end of the week you’ll have $35, that means $1.820 in a year’s savings. In 18 years you’ll have $32.760, very good right?

2. Teach your child to spend wisely

Something that was always my concern was to show my daughter the importance of spending her own money on what made her happy but in a responsible way.

3. Teach them since they’re little to manage money

Help to manage their savings. You can teach them how to put aside one part and still buy what they want. They start, by practicing how to save and manage money in a positive way. Learning how to deal with money, will give your children managing skills that will make their lives easier.

Thank you for meeting me halfway.