Money is always a tight resource. We have an infinite number of things to buy, but a limited source of cash to spend. Moreover, the faster we spend, the earlier we become broke. What should a stay at home mom (SAHM) do in money tight situations? How will she save fast without losing her head and family?
To begin with, money is psychological, the more you need it, the more it becomes elusive. So when you are shopping, try to be relaxed and comfortable. Eat well before you hit the grocery spree. Eating saves you money at the store, which is usually very tempting. A hungry stomach will make your decisions about saving tips hazy. So eat before going shopping.
Know about your short trip to the grocery store in advance. I always advice moms to, have a grocery shopping list, or any other shopping list before they go out and make purchases. Once you have a list, you can then prioritize on what to buy and what to forgo as your cash dwindles.
Marketers play with your psychology as a shopper. They drop in tiny emotional triggers like discounts on bulk purchases and small gifts.
Always carry a calculator. You have one in handy on your phone. Use it extensively to understand how much spending really goes towards gaining some discounts. Sometimes buying more of something does not necessarily make you a decent savings. The prices of bulk purchases have to add up. Besides, what use will be bulk purchases when you are dealing with perishables? Remember, more spending on one item leads to less money balance for other items.
Look for coupons. You don't have to be suddenly coupon hunting. However, be open to any coupon suggestion and go for them if they are for items you regularly spend money on. Only get coupons for your regular purchases. Beware that coupons sometimes trick you to making purchases that you would normally leave. Avoid the discount misconception. Only get what you use regularly. Stay at home moms, are very good at frugal living but lose all their savings in one marketing trap. A majority of them buy something they do not need, just because of the promised discount.
Be self-reliant. Avoid foods that are coming in packaged form, already cooked and preserved. They are usually costly because you are paying for both the processing costs and the packaging costs.
If you follow the above simple tips, then as a stay at home mom you will be on a path to prosperity.
The writer is a seasoned content contributor for personal finance sites and online income sites. He have been researching money saving tips for the last half decade. Read about his other works on money saving.
