New Mummy Money Matters: How To Save After Baby

New Mummy Money Matters: How To Save After Baby

Becoming a parent is so beautifully rewarding in so many ways, but perhaps not so much financially. Whether it’s the loss of pay on maternity leave or the cost of bringing up your baby, I have found that most new mums {including those in my ACF} find themselves wanting to get a little more savvy with their spending. I thought it would be a great help to look at how to get thirty and make the pounds go further… 

 

Get Cosy With Listings Sites

From eBay to Gumtree, or even Facebook local listings groups*, social selling is too big to ignore. It can help you to find amazing bargains on nearly-new versions of all your baby essentials*. A lot of stuff is so lightly used as to be practically brand new. And if you have stuff your little ones have grown out of, quality items like infant carriers and bouncers can fetch a good price, so it can also be a great way to reclaim some of that outlay.

 

Pay Down Your Debts

Your thoughts are probably turning to how to be able to set aside more for your child’s future {we have been thinking about getting Bump a Junior ISA}, but before you up your savings, it’s a wiser move to pay down any debt you have ASAP. If you owe larger amounts, debt consolidation loans* can reduce your monthly repayments down to one {although please note you should take independent financial advice before entering into one of these loans and I am not recommending you take one out without having proper advice before hand}. If you have credit or store cards, consider applying for a card with an interest free window to transfer those balances onto – but only if you can repay the amount in that time {but again you should take independent financial advice}. 

 

Find a Way to Save That Suits You

We’re all creatures of habit, and there are different styles of saving – so find the one that suits you. For some, it’s using the ‘envelope system’ – withdrawing a weekly amount in cash, and adding any leftovers to a savings pot. Others prefer to use an app that rounds up transactions* to the nearest whole amount and invests the difference. Still others prefer a monthly direct debit to come out on payday. However you do it, the secret is saving little and often to make a habit.

Make a Meal Plan

Food waste is a big issue for the environment, and an even bigger one for our budgets, so getting smart about meal prep can make a big difference  to your bottom line. Instead of spontaneously paying for pre-packed sandwiches {or Pret lunches!}, plan out and make them at home. Get switched on to planning out a weekly menu and using your leftovers to create new meals*. It can save big on the weekly food shop.

Make the Most of Loyalty Cards

If you’re buying stuff, you should be making sure that you’re getting cashback or loyalty points wherever possible. Use the power of the internet to make sure you’re getting the best deal on petrol prices and everyday goods. Make sure you claim Nectar and Tesco Clubcard* points- the resulting vouchers can now be used at a massive range of retailers and even towards things such as family days out. I suggest that you visit Shopper Points as well, it is a great site that provides advice on maximising your loyalty points earning.

 

Start small, and these changes are easy and sustainable. They will also add up a lot quicker than you might think. It’s an old saying but one that’s definitely true – look after the pennies and the pounds will look after themselves – and you!

Penny x


Disclosure: This is a colbrative post where a third party has written the majority of the post and I have received payment for the post. I wouldn’t accept a third party writing a post for my site if I didn’t think that it was truly relevant to my readers. Links marked with an asterix are affiliate links for which a small commission is received for link click throughs. 

Spread the word:

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.