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To the Busy Mom Who is Tired of Struggling with Money

Hi, this is Leila. Most families are on a budget, no matter how well off they might be. And having children is expensive, not to mention that it takes a lot of creativity, strategy, time, patience, and sacrifices for parents too. One of the challenges will inevitably be finances, from planning to saving cash. It needs to be a priority but sometimes it feels impossible to get ahead money-wise or like there’s just not enough time in the day to figure out a budget. For the mom who is fed up with struggling with money, this one is for you.

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Struggling with Money? It’s Time to Budget

You can create a budget that works for you and the rest of the family. Get your spouse involved in the process so that you share the task or if you prefer to do it then keep him up to date on how it’s going and what needs adjusting soon.

All it requires is a pen, paper, maybe some spreadsheets, and some deep thinking. Always make the budget in small steps, like for the next whole month, instead of the next whole year. This way it will be far easier to follow through with it. Not to mention taking less time as you navigate trips to and from your kid’s soccer practice, school, or elsewhere.

Each month, make a new budget on paper or via computer that you custom tailor for that period. No one expects each month to be the same when it comes to expenses, so we must plan accordingly. Numbers and factors will vary from month to month, if not in even smaller intervals sometimes. Having this plan will allow you to know exactly how much your family brings in monthly. Equally as important, you will divide resources into all of your monthly necessities.

Confidence in Making Money

As a mom, you likely take it upon yourself to focus on the needs of your children before your own. And many women struggle with asking for the amount we’re worth as employees.

Furthermore, while many people grow up assuming that a good job will set you up for life and be enough for all of your needs, that’s not always the case. That’s an issue in many parts of the world, not just in the west. And when you have children to support it may be that you’re still struggling with money while also having a quality job.

Thankfully, now more than ever, moms and other women are starting businesses of their own. With the invention of the internet, all the resources are readily available to you. Just reach out and get the relevant information. What better lesson to teach yourself and your children than to turn what you love into an interesting way to make money?

Starting your own business though usually falls under the category of miscellaneous loans. But, if that means applying for a favorable personal loan, so be it. Plus, you could supplement that loan with grants available specifically to women to cover more costs at the beginning of your entrepreneurial journey.

Other Ways to Earn Extra Income

Some more conservative examples of a legitimate side hustle for a busy mom are:

Some other services are a website development and social media marketing. One of the best things you can do is to start thinking of how to get a side-gig of your own. Eventually, it will pay off greatly, both financially and in self-satisfaction. For moms who feel like they’ve lost their identities, here is the opportunity to figure out who they are again.

Raising a family is not something to take lightly. Keeping on top of your finances is the foundation for this house of cards. And struggling with money is a reality for many moms and dads. But with these basic principles, you can have all that is necessary to make and maintain family financial security.

Pay Off Any Debt

Basically, everyone today has some sort of debt. There is no shame in it; it is common and a necessity in today’s economic climate. What we do not need to have is a constant track record of debt. Meaning, that once we have paid off our car, mortgage, and miscellaneous debts, we do not need to keep getting new ones. A debt-free checkbook is one of the steadiest bedrocks of a clean financial life. There are things like real estate and personal transportation that almost always requires some kind of a loan.

But, once these things are taken care of, we do not need additional ones for simpler things in life. Groceries and household appliances are not that expensive nowadays and can be bought with our own means. But why take on this responsibility? Because that way we avoid all the interest we would be obligated to pay, on top of the initial cost itself. It does require discipline and self-control, but it will pay off greatly in the long run, especially as a parent saving for your kids’ education or a family trip.

About the Writer

Leila Dorari is an entrepreneur and freelance writer from Sydney. She’s passionate about self-growth and believes the quality of our lives depends on the quality of our relationships. When taking a break from writing, she is usually hitchhiking with her furry four-legged friend.

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