Budgeting Sylvie & Jay Budgeting Sylvie & Jay

5 Simple Money Hacks for Busy Moms

Feeling like you're constantly saying "No" to your dreams because of money? This post shares 5 Mom-Approved Hacks to take control of your finances (finally!) and break free from the paycheck-to-paycheck cycle.

Can We Afford This?" to "Dream Vacation Here We Come!"

Hey mamas! Ever feel like your bank account is playing hide-and-seek with your dreams? You're not alone. Between endless grocery lists, unexpected school supplies, and that-one-toy-they-absolutely-must-have, managing money can feel like wrangling toddlers – messy and unpredictable.

But what if I told you there's a way to take control of your finances without feeling like you're depriving yourself (or your little ones)? Here are 5 MOM-APPROVED hacks that will have you saying "buh-bye" to budget blues and "hello" to your dream life:

1. The Penny Jar Pantry Challenge: Turn Spare Change into Savings Superpower!

We all have that overflowing jar of loose change. Instead of letting it gather dust, transform it into a saving machine! Here's the trick:

  • Pick a category: Is it a family vacation, a new wardrobe, or that dream kitchen renovation?

  • Play the "Change Game": Every time you get loose change, round up your purchase to the nearest dollar and toss the difference in the jar. For example, a $3.75 bill becomes $4.00, with the extra 25 cents going straight to your dream fund!

  • Get the Family Involved: Make it a fun challenge! Decorate your jar with your savings goal and track progress together. Seeing that jar fill up will motivate everyone!

2. The "Unsubscribe Fairy":

How many monthly subscriptions are silently draining your bank account? Streaming services, gym memberships you never use, and that magazine subscription you haven't touched in months all add up!

Become the "Unsubscribe Fairy"! Dedicate 15 minutes this week to comb through your bank statements and online accounts. Cancel anything you don't love or use. This quick audit can free up surprising amounts of money each month.

3. The "Meal-Plan Mama": Cut down your Groceries billdddk Without Sacrificing Flavor. We all know grocery bills can be a budget buster. Here's how to be a "Meal-Plan Mama" and save:

  • Plan It Out: Dedicate 30 minutes each week to plan your meals. Consider what's on sale, utilize coupons, and incorporate leftovers for lunches.

  • Embrace "Meatless Mondays": Studies show plant-based meals are budget-friendly. Explore delicious meatless recipes that are easy on the wallet and the waistline.

  • The "Freezer Flex": Stock up on staples when they're on sale. Freeze fruits, veggies, and meats for future meals, saving money and last-minute grocery store dashes.

4. The "Craft-tastic Cashback": Turn "Screen Time" into Savings Time!Instead of mindless screen time, get crafty with the kiddos! This quality time doubles as a money-saving hack:

  • DIY Gifts & Decorations: Encourage them to create homemade gifts for loved ones for birthdays and holidays. This saves money and teaches valuable skills.

  • Upcycle & Repurpose: Turn old clothes, jars, and containers into something new! Embrace the "Pinterest Mom" spirit and create unique treasures that cost next to nothing.

5. The "Envelope Budget": Cash is Queen (and in Control!) Feeling overwhelmed by digital transactions? The "Envelope Budget" is your new BFF:

  • Categorize Your Spending: Divide your cash into envelopes for groceries, gas, entertainment, etc. Allocate a set amount to each category.

  • Stick to the Plan: Only spend the cash allocated to each category. Seeing the physical money dwindle keeps you accountable and prevents overspending.

Bonus Tip: The "Mama's Night Out" Money Jar

Being a superhero mom is exhausting! Set a small monthly amount for a "Mama's Night Out" fund. A massage and dinner with friends – investing in yourself prevents burnout and energizes you to manage those finances like a champ!

It is okay to take a break, kick back and relax. After, you need to recharge to keep the house running smoothly.

Remember, mamas, you are the CEOs of your households! Taking control of your finances empowers you to create the dream life for yourself and your family.



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The 3 Best Budgeting Apps

Budgeting does not have to be hard.
Using budgeting apps to make your budget, track your expenses, and monitor your progress can help you reach your financial goals faster.

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Budgeting does not have to be hard.
Using budgeting apps to make your budget, track your expenses, and monitor your progress can help you reach your financial goals faster.
As an added benefit, having your budget readily available;

  • Is great for financial planning.

  • Helps couples who are budgeting together to stay on track.

  • Is helpful for tracking expenses.

When you start to budget, we encourage you to handwrite your budget so that you can get into the habit of tracking your expenses and being intentional with creating your budget.

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3 of the best budgeting apps we have used include:

  1. Mint : This personal finance application gives you the option to keep track of spending, create a budget, and work on monitoring your credit score. You can link your bank accounts and it automatically tracks your expenses. Mint allows you to track and plan your expenses in one place. The Mint app is completely free and available for both iOS and android devices.

  2. Every Dollar : Allows you to create a monthly budget and track your expenses. The free plan requires that you manually update your budget, while the paid plan allows you to connect your bank account to the app so your items on your budget are automatically updated.  An added bonus of the Every Dollar App is that it gives you recommended percentages for each of the 11 categories in your budget, there is flexibility to adjust these percentages to reflect what is most important to you. There is a free plan and a paid plan. Every Dollar App is available for both iOS and android devices and it syncs across your devices.

  3. You Need A Budget(YNAB) : Helps  you build a budget suited to your lifestyle and tracks your expenses from your bank accounts. You can also make adjustments to your budget as needed. It also allows you to set goals for each item on your budget. It breaks down your expenses into 5 categories : Immediate Obligations, True Expenses , Debt Payments, Quality of Life, and Just for Fun.  The annual plan is $83.99 but you can try it out free for 34 days. YNAB is available for both iOS and android devices.

The best part of using budgeting apps is that it is easily accessible on your phone.
When your budget is always with you, you can easily double-check your spending, thus moving you closer to achieving your financial goals.

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How to budget

There are a lot of apps that help you build and maintain your monthly budget. The great thing about apps is they are easily accessible. You can reference and update your budget on the go.

On your financial journey, every new month, or major change in your life requires a new budget. 

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A budget is a spending plan that tracks how much money comes in and goes out. It gives you control over your money. 

Many people find the word ‘budget’ restrictive. Feel free to call it what you want. Like most couples, we struggled with having money conversations. So we decided to call our budget meetings our ‘financial dates’. For us, that took the ‘being called into the office’ feel out of it and made us want to show up. Find what works for you.

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There are a lot of apps that help you build and maintain your monthly budget. The great thing about apps is they are easily accessible. You can reference and update your budget on the go. We did realize however that we loved handwriting our budgets, but also wanted the convenience of having on the go.

So we created a Fillable PDF budget that we could print and update as needed…win-win!

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Our goal is to create our budget before we spend any money. For months we failed to do that, we ended up spending more than we planned, and we seemed to be making financial decisions without properly thinking them through. We are committed to creating the next month’s budget a week before the previous month runs out.

Use these guidelines and our template to create your monthly budget 

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1. Determine your monthly income 

This is income that you earned after tax deductions and other deductions like 401K, Medical etc. Include other money you have coming in.This includes bonuses, overtime pay, merry go round, child support etc.

2. Write down all your projected expenses for the month

Expenses detail how you anticipate spending your income. Items such as your recurrent bills, what you pay on debt, what you put into your savings.

3. Substrate your expenses from your income

The  goal is for the income and budgeted expense be zero. That every dollar on your budget is accounted for.

If you end up with a negative balance, you have more expenses than income. Think of cutting back on the expenses, or increasing income.

If you end up with a positive balance , you have more income than expense and you have more money available. You can consider applying the surplus to debt repayment or savings.

4. Keep track of your budget and review your progress

In the middle of the month, compare how much you budgeted and how much you have spent. Are you staying on track? Do you need to make changes, or adjust your spending?

Review the expenses with household members. 

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We learned that to meet any of our financial goals, consistency, commitment and being accountable are very important elements . Being consistent in the small things proved more fruitful than trying to score one big win.

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How to stop spending: 8 ways to save money

With the advent of online shopping, all it takes is a click of the mouse or a swipe of a finger and your purchase is on the way. Many shopping sites are making it very easy to save your credit card information and are using adverts to make their products harder to resist.

It is very tempting to spend when you are trying to work on your financial goals. With the advent of online shopping, all it takes is a click of the mouse or a swipe of a finger and your purchase is on the way. Many shopping sites are making it very easy to save your credit card information and are using adverts to make their products harder to resist.

The good news is, there are things you can do to remove the temptation and stay focused on your goal.

  1. Make a budget before the month ends and before you receive your income and make sure you stick to it.

  2. Cancel subscriptions you are not using. The cable that you barely watch, or the gym you have been planning to go to are all recurring expenses that steal your income.

  3. Unsubscribe from newsletters and emails.Those deals that are delivered in your email are a trigger for you to spend. So why not remove the trigger. If you do not know there is a deal, you will not go looking to buy. A good app to use to unsubscribe is unroll.me app

  4. Use coupons, discount codes and cash back apps to shop. Make sure you are shopping for things that are on your budget. Honey will give you coupons and compare other sites for cheaper prices for your purchases. Another site, Rakuten gives you cash back on purchases you make.

  5. Use cash. When you use cash, you feel the weight of your spending. Remove your credit and debit card information that is saved online. When you have to input that information every time, it gives you a few extra seconds to rethink your decision.

  6. Use a shopping list when you go out grocery shopping

  7. Negotiate your bills with service providers.Most service providers have loyalty programs for longterm customers or discount programs to keep customers. So before you commit to your next billing cycle, make sure you are asking for a deal. What is the worse that can happen?

  8. Plan meals. Planning meals helps you with your grocery shopping and also reduces impulsive shopping. The random trips to the fast food restaurants because you cannot figure out what to cook is $30 extra dollars you have saved. Plus, you can get the family involved and make it a fun, family bonding activity.

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