Saturday, May 9, 2015

5 Money Saving Tips for Moms





Many families struggle with managing their monthly budget.  Often times, people find their expenses increasing at a greater rate than their income.  Below are a few tips for Moms everywhere, that can trim your expenses and free up your hard-earned money.

1. Review your monthly bills for hidden fees.  Many bills such as credit cards, wireless phones, internet and home phone bills will gradually increase over time.  Keep a close eye on your bills each month.  If you notice a trend of services and fees increasing, simply take a few minutes to contact the company and ask them why your bill continues to increase.  Often times, customer service will be able to remove the increased fees and lower your bill.

2. Set an automatic savings deposit from your pay check.  Whether it be your pay check or your partner's, set aside an agreed upon amount from each pay period to directly deposit into your savings account.  Over time you will see your savings increase.  Forbes suggests that the ideal savings amount to aim for is 3 - 6 months worth of living expenses.  Once you reach that goal, set a new one and keep increasing your savings.

3. Decrease your insurance premiums.  Many insurers will cut home owners policies up to 15% for customers that have a burglar alarm or deadbolt locks.  Similarly, many auto insurers will cut your policy rates for good driving records.  Periodically check with your insurance companies to see if there are any discounts you are not taking advantage of to lower your premiums.

4. Sign-up for rewards programs.  Many businesses such as your local grocery stores offer reward programs for the shopping you are already doing.  Make sure you take the time to sign up for reward programs at stores you frequently shop.  Then take the time to learn about the reward program to learn how your family can benefit best.  For example,  if your store offers fuel savings as a reward, make sure you take advantage of this savings.  Cents off each gallon over accumulated tanks of gas will add up.

5. Enjoying the fruits of your labor.  Many people will allocate every dollar of their budget to pre-determined expenses.  Re-visit your budget and see where you can carve out some personal spending money each month.  You might find that taking advantage of money savings tips mentioned above will free up money in your budget.  Take an agreed upon amount of that savings and divide it up for personal spending.  Allow yourself to splurge on that cute outfit you have your eye on at the mall.

urBook$ wishes all moms a very Happy Mother's Day.  Hopefully these tips will be beneficial to you and your family.  Contact urBook$ today to become a client and experience the urBook$ difference.

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