ONE FOR THE SINGLE MUMMAS!!
I need budgeting help!! How do you stay on top of things?
Single mum of 3 & cannot keep up!! Help a mumma out and share your tips, pretty please & thank you xx
Single mumma finances/budgeting
Single mumma finances/budgeting
Posted in:
Life Lessons, Self Care, Food, Kids, Money
4 Replies
Hey,
I dedicate 5 mins a day to look at the money/budget etc. The hardest thing is getting your accommodation expenses right these days. I think the key word is sustainable. We've always lived in smallish places, never a house. The other thing is avoid buying anything on credit, interest free, or rent to buy. They are huge money traps. Especially when you can buy much cheaper but good quality stuff through other avenues.
Don't try and keep up with everyone else. We only buy toys at Christmas and birthdays. Kids just have way too much stuff these days.
Food pasta and rice are your best friends. We grow our salad veggies.
If I need to borrow money for something like a new washing machine that is in the form of a centrelink advance.
Use MS Excel - plug every single bill (electricity, gas, water, rego, insurance, everything) into it and calculate the annual amount; if it's a monthly bill multiply by 12, quarterly by 4. Then divide that by the frequency you are paid (weekly by 52, fortnightly by 26) and pay that total into a separate bank account each fortnight. Add maybe 10% on top to generate some savings for emergencies. The money will quickly add up and you will alwaya have the $$ to pay your bills on time. Contact the companies you have these bills through and see if you can negotiate discounts for paying on time/loyalty. We currently have a 27% discount on electricity and 15% on gas for on time payments. Shop around for cheaper insurance deals or combine policies to save. If you have a health care card make sure you are receiving any discounts you may be entitled to using that.
Try meat-free meals to cut down on grocery bills: going meat-free three times a week can save heaps and by replacing with legumes/mushrooms or other veggies you're getting extra vitamins and fibre. Soups and casseroles are great for using cheaper ingredients now that the weather is cooling down too!
Get a job? Just because you are a mum doesn't mean you don't need to provide for yourself and get a career :-) I did and love it!
I do have a job actually, doesn't mean I don't struggle. My question was more about how to keep on track of things & make the dollars go further.