Being a stay-at-home mom or homemaker is a job. Taking care of your home and children is a lot of work. If you decide to work outside the house or have a career and work from home, you now have TWO full-time jobs.
Today, I’m going to focus on the at-home job. Here are some financial tips and ways to save money as a housewife and a stay-at-home mom.
One of your responsibilities might be to manage the finances. It is for me. And so when it comes to making ends meet or saving money, it can come down to where that money is being spent in the long run. There is room for improvement in spending habits and ways to stretch those dollars further.
My Husband Makes All The Money
I understand. I was once there. When my boys were little, this was me. I was very grateful to be able to stay at home with those babies and take care of our home.
But, when you hear someone talk about their money, meaning they earned it and worked hard for it, it gives you a sense of determination to make sure that money goes as far as it can to make the life you both want.
My husband made all the money for years until my boys went to school. Then, I went back to teaching part-time. So, I understand the struggles.
Here is a big old list of things we, as CEOs of our home, can focus on to make those hours our husbands are away earning money serve us.
Now, before we go on, I’m talking about traditional roles. But these ideas can apply to whatever your values and roles in a home are. These are money-saving financial tips for homemakers that anyone can get value from. I’m speaking from my point of view and what I know.
How To Manage Joint Finances
Communication
Communication is critical when being on the same page financially. You must know where each of you stands with money. Who’s better with all the numbers? Who is better at making sure bills are paid on time? Are your finances and debt a priority?
Accountability
Sit down and plan your finances together. Designate all these tasks, and each person needs to know where the money goes.
Set Goals Together
Long-term goals and short-term goals are equally important. Ensure these goals include money goals like saving for a Disney Vacation in the fall and Retirement goals.
These could also include career goals and dreams for the future. If you want information about goal setting, check out this post.
Know Each Others Money Mindset
Understand Each Other’s Money Mindset. If you understand where others’ thoughts and feelings come from, you will know how to relate and empathize with those ideas.
I am frugal. My mom and Grammy were also frugal. I was taught and shown never to pay full price and always search out a bargain.
Understand your money mindset
Otherwise, no amount of financial tips for homemakers will help you reach your money goals.
If your spouse grew up with parents who always spent money and fought about it all the time, their money mindset might be unpleasant. It can be a daunting task to handle this conversation, but to keep to a household budget, you are going to need to do it.
If their ex-wife was a spender who had to have the best of everything and put it all on credit cards, their mindset about credit cards might be negative. Human life is messy, but working to a monthly budget together can help with more than just financial stability.
Money Management
Decide On Blow Money
Each person should have a little bit of cash to be able to spend on whatever it is that they chose each week. You can call it a wife’s allowance or husband’s allowance. We call it “blow money.”
The amount can be whatever you decide: $20, $40, $100. It can be used to go out to lunch with friends or coworkers, out for GNO or to watch the game and have a beer, or just coffee at Starbucks while grocery shopping or a Target run.
No questions asked, but when it’s gone, it’s gone.
Track Spending
Tracking your spending is a great tool to see where your money is going. An excellent budgeting tool to show where the money is being spent, so one knows how much to designate to a specific category.
You want to see what comes out of your bank account, and apps are among the best ways to do this. Some offer practical tips or even money-saving tips as well.
Create A Budget
Creating a household budget is a challenge at first, and nobody is perfect, but a reasonable attempt is much better than no attempt. You will get better as you continue to use your budget and allow for tweaks.
But continue using budgeting tools. You might think you don’t need the app or the budget printables, so you stop using them, but you will soon find out that it all goes down the tubes fast.
Raise your hand if you know what I’m saying here!
Understand Health Insurance
Decide which plan is best for you. Do your research and understand that anything medical is not cheap. From glasses to significant surgery, know what your insurance covers and how much needs to be paid out of pocket.
Make sure that money is set aside in an emergency fund or special medical fund. So many people find themselves buried in medical bills debt.
Retirement
Keep putting money away for retirement, even if it’s 1%. Don’t stop. Utilize your husband’s 401K if offered. Otherwise, educate yourself in IRAs and growth stock mutual funds.
Online Savings Account
It’s the best and easiest way to save money automatically. Every payday, money comes out of our main checking account, and I pay little attention to it.
Soon enough, you could have an emergency fund, a home improvement fund, or anything that you have decided you want to save for. Here is my blog post about it.
Pay Off Debt
I never imagined what a drain on my emotional well-being debt was. There is an absolute calm that you live with when all debt is paid off.
Work together on these financial challenges and get super excited about where you could be if you didn’t owe anyone anything. There are so many theories on how to become debt-free, including my own, here.
Financial Tips For Homemakers
Around The House
We are the keepers of the home, and with the popularity of Pinterest, there are people out there who can help us with everything. From cake decorating to budgeting. The internet has you covered. There are places to save all around your house.
Cook Frugal Meals
It is possible to cook cheap and healthy meals. You might not have the money to shop 100% organic in this season of life, but you can still do your best to give your family nutritious and tasty meals on a budget.
Sometimes, there’s a place for dirt cheap meals.
Stay On Top Of Expenses
This includes the cost of cable/internet, car insurance, homeowners insurance, electricity, and cell phones. Make phone calls and negotiate the prices on these things at least once yearly.
Shop around for economic alternatives when necessary. Different cell phone providers or cutting cable altogether would be more extreme, but it’s an option.
Make Your Cleaners
There are a bazillion ideas on the internet for homemade, non-toxic cleaners you can make with items you might already have in your house. Here are mine – including wood polish and leather cleaner. Stop buying all of those cleaners that you don’t need.
Heating And Cooling
Pay attention to the comfort of your home. Could you turn down the furnace two degrees and put on socks and a sweater? Would you be okay with the air conditioners set to 75 during the day? Or even 78? How far could you push it?
Electricity.
Unplug things that are not in use to help with utility bills. Turn off the lights during the day. Switch to LED light bulbs. Phantom power is a real thing, and you are paying for all those appliances, electronics, and chargers that are not being used.
According to How Stuff Works, phantom power can account for as much as 10% of household electricity bills.
DIY
Really. Do it yourself. Car oil needs to be changed. The shirt needs to be sewn. The lawn needs to be mowed. The kitchen sink has a drip. We live in an age where knowledge is at our fingertips.
We can learn to do just about anything with the help of YouTube. Save money and do it all yourself.
Thrifty Shopping to Save Money as a Homemaker
Grocery Shopping
Grocery bills can be a huge budget buster for me. If I use meal planning and shop carefully, sticking to my shopping list, I can avoid falling into the food trap of grabbing things I didn’t plan for.
Also, sometimes the convenience of shopping at a higher-end grocery store like Hannaford, where I can order my groceries online and pick them up (or DELIVER!), sounds fantastic, but there is a price. It might not be a lot of money, but it is an excellent example of unnecessary expenses that small changes can cut out.
I can spend $75 to $100 more than just going to Aldi, renting a cart, walking through the aisles, bagging the stuff on my grocery list, and bringing them to my car. Yes, it’s going to be more work. But as my husband says, we have more time than money!
A good idea can be once a month grocery shopping.
Stay Out Of Target
I’m so guilty of this. I plan on one trip to Target per month. I have a printable of the things I usually buy there and a budget of $80 per month. This might be my most significant financial tip for homemakers who want to control their household expenses.
When I go, I get a coffee and take my time. I browse through everything and get only what I need. I may need other items that month, like a new rug in front of the door or fresh bath towels.
But those items are budgeted for. There are no spontaneous splurges.
And I try hard only to go in once a month. And no putting it on a credit card!
Use Apps
Let’s go back to Target. Use their app to save some money potentially. There are other great apps like Fetch and Ibotta. I use both, and while I might save a little money, it is a great first step to using apps to help reduce monthly expenses in creative ways.
Also, stores like Dollar General, Family Dollar, CVS, and Walgreens make it easy to get coupons, and deals in their stores are a few more easy ways to save money as a housewife.
Take Advantages Of Coupons
I’m not a fan of coupons, but if you have time and love a good game, check out my blog post all about couponing.
Buying Clothes
Most of us in this house are done growing. Some of us might be shrinking. We all need clothing, and when you have littles, you will need it more often.
Facebook Marketplace is a GREAT way to get children’s clothes. They don’t wear them that long, so they will be in great shape most of the time. And at a fraction of the cost of brand new, it’s a win!
I visited my mom last week, and she has a store called Savers. It’s like Goodwill or the Salvation Army. For $25, I got two shirts, a coat, a glass water pitcher, and a book.
All the clothes were name brand, and one shirt still had the tags on it -priced more than what I paid for all of it.
Compare Prices
This works for grocery stores for online shopping. Sometimes, Amazon can have it cheaper than Target. Sometimes, Walmart will be more expensive than those fancier grocery stores.
If you know how much you usually spend on American Cheese, then you know a deal when you see one.
Shop With Intention.
Know why you are at the store, be mindful, and get what you need. Shop with blinders on.
Basic Money Saving Tips For Homemakers
Think Ahead On Transportation
You know that gas needs to be refilled, registrations come due, brakes wear out, and oil changes must happen.
You also understand that cars will need to be replaced at a specific time. Plan accordingly for all of these expenses. I have a sinking fund for transportation because it will be required. Not if, but when.
Organization
It is easy to forget things when you have a lot going on. Stay organized, whether this is an app, a binder, a planner, or sticky notes all over the refrigerator.
It is vital to have a clear picture. Knowing when bills are due will save money as a homemaker and save on late fees. Knowing a birthday party is coming in two weeks will allow you to grab a gift bag at Dollar Tree instead of Wallgreens.
Pay Attention
Specifically, pay attention to areas of overspending. Where are your weak spots? Are you lonely, so you take the littles to Target to interact with other adults? Find a MOPS Group.
When you get tired, do you find refuge in online shopping on your phone? Unsubscribe to those shopping emails and try Candy Crush or TikTok (not just for teens anymore).
Know your weaknesses and practice redirecting when you get the urge to spend. This is an excellent mindset financial tip for homemakers.
Understand Want Vs. Need
I like to keep a notebook or list on my phone of all the things I want. This way, I can decide whether I want it and then find the best price.
I did that with my coffee maker. I wanted this auto-drip coffee maker. I waited for MONTHS to find a good sale. It wasn’t a need because we had one that was just fine.
It was a Keurig, which cost us much more than I wanted to spend in K Cups, but it worked. So I waited. Had that one broken, it would have quickly turned into a need…more or less.
Keep Your Health
Stay healthy. Brush your teeth to avoid cavities. Eat your veggies to protect that immune system. Drink your water, take your vitamins, and wash your hands. Avoid the cost of cold medicines and go to the Dr as much as you can.
Avoid Restaurants And Take Out
Plan and cook from scratch—now…disclaimer. If a frozen Stouffers Lasagna or a couple of frozen pizzas will save you from ordering delivery, go for it! $15 is better than $40. But know that made-from-scratch pizza is so cheap!!!
Always Research Everything
Plan and cook from scratch—now…disclaimer. If a frozen Stouffers Lasagna or a couple of frozen pizzas will save you from ordering delivery, go for it! $15 is better than $40. But know that made-from-scratch pizza is so cheap!!!
Consider A Side Hustle
If your financial goals are more significant than just the concept of saving money as a homemaker can give you, then it’s time to make some money.
There are many ways to make money in the information era, from going to garage sales or getting extreme deals online and then reselling them in an online shop or Facebook to babysitting or blogging. The possibilities are endless.
Final thoughts on how to save money as a homemaker
Can a homemaker save money?
In my experience, absolutely!!! You have all the resources you need with you every day. You are the keeper, CEO, and queen of your home; saving money is your game.
Keep it honest and intentional; these financial tips for homemakers will serve you in your money goals.
