So this is a very different article then what we normally put out, but I thought it was really relevant, and timely. The prices of groceries, gas, and living are on the rise each day. With April being Financial Literacy month I thought it would a good idea to share a few ways my family has found ways to cut down on spending even while living on a tight budget.

If you follow us on IG then you know that I recently left my job at the hospital to dive into my lactation private practice! This has come at a cost, switching a business from a side hustle into a main source of income takes time, and we are finding as many small ways to save money as we can.

Every month my hubby and I sit down and go over our budget and April has been the first month that we both kept a smile on our face throughout the entire budget meeting!

So if you are like me and trying to run a small business, stay home with your kids, and pay off debt all at the same time then these steps may be helpful for you! And even if you are just looking for ways to save….read on!

Tip #3 Create a Budget

The first thing that you can do is to actually create a budget, if you do not have a budget, there are many simple ways to create one. You can use something as simple as the zero-based budget system or you can download an app on your phone! Whatever works best for you and your family! If you don’t know where to start I encourage you to check out a few of my favorite YouTube channels Moms and Money and Elaine Michelle.

It can be intimidating to start a budget, and the first few months you probably won’t get it 100% right but the more that you open the conversation up about money and budgeting in your home I think the more comfortable you will become with handling your money confidently.

Tip #2 Pay with Cash

You may not agree with the Dave Ramsey “Cash is King” philosophy BUT one thing I do think he has right is that paying with cash makes a huge difference. There is no way to overpay when you are paying by cash. I do not use this method all of the time but I do find that it helps me to avoid throwing wants into the cart when I’m strolling the aisles of Target and Costco—-two places where I tend to blow the budget. When I first learned how to budget (although I fell away from these principles over time) I learned how to budget by using the envelop system, It really helped me to stay on target with my financial goals and it was a physical reminder to set limits on my money.

Paying with cash is also a great way to teach our children about money, all my kids no is that you can swipe a card at the store and leave with what you want! Using cash has actually opened up conversations with our 4 year old about the meaning of a dollar. We have even started allowing our oldest to do small chores around the house to earn money to buy toys that he wants! Using cash gets the whole family on board with financial goals!

Tip #1 Write it Down

When you have a month when spending was out of control, or you just aren’t sure where your money went! Write down all of your purchases and payments. You may be surprised where the bulk of your money is going. If you find that there are a few stores sucking your funds then I am going to challenge you to take this a step further and write down what you purchased from let’s say Target. The physical act of writing out your purchases will help you to get honest with yourself about your spending habits.

So what do you think? Would you apply any of these tips?

Drop a comment below and share your favorite money saving tips!

Be well and Talk soon,

Morgan