Type-A Mom : Making Your Money Go Further

Making Your Money Go Further
By:totanaliz on:Wed 30 of May, 2007 [10:27 UTC] (1962 reads)

If you are anything like me, you always have too much month left at the end of the money! Kids are expensive, and the little beggars just keep on growing, meaning that cash-strapped parents need to keep on buying trainers, clothes, school uniforms and more in ever increasing sizes.

Here are some money saving ideas to help you make your hard earned cash go just a little bit further. Who knows, one day it might even last until the end of the month!!

Buy food products at the right time of year

If you look around the supermarkets these days, nothing ever seems to be “out of season”. With the huge increase in food production, changes to farming methods and better transportation just about every product is available all year long.

But stop and take a look at the prices. We pay a large premuim for the pleasure of eating our fruit and vegetables out of season. Here in Spain, our first strawberries of the year in April are very expensive, but wait about 6 weeks and the markets are almost giving them away.

Check out your region's local and seasonal stuff

Stockpile goods you can store when the prices are cheap. If not, then just buy in season to save money and take the time to get to the local markets for fresher, cheaper produce.

Wait for the end of season sales and plan your purchases

Don´t automatically rush out and replace everything as it breaks or wears out. Make a list of all the things you will need and then wait for the sales to begin. Here we have them twice a year, end of summer and after Xmas and the bargains to be had are amazing, especially in clothes.

For the kids, buy big sizes – you know for sure that they will grow into them one day. My son is 7 but has an age 12 hiking coat I picked up for about $5 waiting for him in the store room! Store them in labelled boxes with your child´s name and the age range. Just don´t forget to check the boxes occasionally before you go out to buy new stuff. You may have bought it already!

Check your credit card spending

Don´t be afraid to compare rates and switch to get a better deal. Lenders rely on your complacency to make them money. Most people can´t be bothered to change, but these days with online applications it can be simple and quick to get a better deal.

If you can find interest free offers, even if only for 6 months, it is worth transferring funds. You can always switch again once the time is up.

If you have any savings, pay off credit cards and other expensive debt

As long as you have sufficient money in your rainy day fund, any excess is probably not earning great interest sitting in a checking or low rate saving account. You, however, are meanwhile paying high interest rates to the credit card companies for the privilege of borrowing money you may already have!

Don´t get into the habit of using plastic. Pay cash where you can, and if you haven´t got the cash stop and ask yourself if you really need it.

Every small step you take to make your money work harder for you is worth it as the savings accumulate. Don´t be lazy about it, it´s YOUR cash you´re wasting!