Money Tips For Moms | Clever Girl Finance https://www.clevergirlfinance.com/category/lifestyle-money-management/motherhood/money-tips-for-moms/ Empowering women to achieve financial success. Sun, 24 Mar 2024 00:31:51 +0000 en-US hourly 1 https://www.clevergirlfinance.com/wp-content/uploads/2018/09/cropped-Favicon-06-12-400x400.png Money Tips For Moms | Clever Girl Finance https://www.clevergirlfinance.com/category/lifestyle-money-management/motherhood/money-tips-for-moms/ 32 32 23 Baby Travel Essentials And Baby Travel Checklist https://www.clevergirlfinance.com/baby-travel-essentials/ https://www.clevergirlfinance.com/baby-travel-essentials/#respond Tue, 26 Dec 2023 14:58:17 +0000 https://www.clevergirlfinance.com/?p=62547 […]

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Traveling with a baby can be daunting, especially if it’s your first family vacation, but it doesn’t have to be. Babies need a ton of stuff, so you may wonder how it can all fit in your suitcase (and your car). Our list of budget-friendly baby travel essentials will help you pack like a pro while only taking what you actually need and enjoying a stress-free trip!

Baby travel essentials

23 Baby travel essentials

Traveling is a great way to share new experiences with your baby and enjoy quality family time together.

The change in routine and the physical demand of traveling can make it difficult for both babies and their parents.

So, here are the baby travel essentials and travel gear that will make traveling easier for mom and little ones.

Note: Some of the product links below are Amazon affiliate links. This means if you make a purchase, we might get a small commission that helps us grow!

1. Car seat

When traveling with a baby, safety is your number one priority. The Federal Aviation Administration (FAA) recommends using an approved child restraint system (CRS) on an airplane.

Taking your infant car seat or toddler car seat with you may feel like a huge hassle, but it can save you the time and hassle of finding suitable transport options in other countries if you already have your own. It’s important that you check with your airline which car seats are approved, though, as not all of them will be accepted on the flight.

To help protect your CRS from damage during traveling, consider purchasing a travel car seat bag to use on your journey and save money by not buying replacements.

2. Baby travel cot

Baby travel cots are also called a pack-n-play, or a travel crib, and it’s one of the baby travel must haves. They are a great way to provide a safe and familiar place for your baby to sleep on your travels, especially without a regular crib. They are compact, easy to transport, and reasonably budget-friendly.

When considering which travel cot to buy, look out for the following features:

  • Ease of use: You want something that won’t take you hours to put up and pack away.
  • A mesh window: This is important so you can always see your baby.
  • Washable covers: In case of accidents or use over time

3. Portable feeding seat

If you’ve reached the weaning stage with your baby, a travel feeding seat will make feeding and snacks much easier (and safer) whilst away from home. No more trying to feed your baby on your lap whilst trying to eat yourself!

Before purchasing baby travel essentials like this, check the item’s minimum age requirements and weight to ensure it suits your needs. And here’s some advice to a new mom: fabric seat harnesses are a great, portable solution.

4. Baby monitor

A lightweight travel baby monitor is one of the baby essentials for parents on the go. Whilst you’re on holiday, you can get peace of mind that your child is okay without having to go into their room constantly.

Travel monitors must have long-range, good battery life, and be durable enough to withstand traveling.

In addition, certain models are non-WiFi, which is excellent if you don’t have a reliable internet connection where you are staying.

5. Foldable baby bath

Just because you’re staying in holiday accommodation doesn’t mean you have to miss out on bath time fun or the baby’s usual bedtime schedule.

Portable baby baths are designed to be convenient, making them the perfect travel companion for your tot. They also ensure that you can enjoy bath time safely, wherever you are.

Choose one that folds or collapses flat so that it can lay flat in your luggage. And don’t forget the bath toys for the tub, too!

6. Portable white noise machine

If your baby is used to sleeping with background noise, a white noise machine is a great item to pack in your bag and take with you.

Generally, portable sound machines are small and durable, so they are easy to pop in your suitcase or baby’s bag. A noise machine may be a packing category that’s easy to forget, but it’s so important.

Top tip: Some even have built-in night lights, creating the optimum sleep environment for your little one.

7. Pacifiers

If your baby uses a pacifier, it’s essential that you pack enough of these baby travel must haves for your journey.

To make sterilizing on the move easier, purchase a pacifier set along with a handy sterilizer box so you can pop them in the microwave with some water and have them ready for baby in minutes.

8. Baby toiletries

An essential part of your baby packing list is toiletries. Just like us, there are some items that babies rely on every day.

And if you don’t have much space in your suitcase, you can buy smaller traveling bottles to fill up your supply at home to help you have the best family vacations on a budget.

Here are the toiletry travel essentials for your baby that you will need:

  • Baby wipes
  • Diaper rash cream
  • Baby shampoo
  • Baby nail clippers
  • Suncream
  • Items for potty training

Use packing cubes to neatly organize your baby’s items and save you time finding what you need when you arrive.

9. Baby first aid kit

Accidents happen and sometimes can’t be prevented. Especially during travel when it’s hard to baby-proof anything. But you can be prepared.

A baby first aid kit will contain everything you need in case of mild illness or small injury, from plasters and antiseptic to cold compresses and thermometers.

It’s crucial that you buy a pediatric first aid kit so that the items included are suitable for your baby.

10. Feeding equipment

Whether you’re breast or bottle feeding, certain items are essential to take while away from home.

If you’re nursing, don’t forget to pack a nursing cover, pads, and breast pump. If your baby is a bit unsettled in an unfamiliar environment, you will probably find that if you nurse your baby, it will help to soothe and settle them.

In addition, if your baby is taking a bottle, pack enough formula milk so you don’t have to worry about running out while you’re away. Packing a small travel bottle brush is also a good idea to clean your bottles on the go.

A plastic baby spoon and other utensils are a baby travel essential if your little one is starting to have solids.

11. Baby-proofing kit

If your baby is on the move, consider packing a baby-proofing kit to minimize the risk of accidents while on vacation.

A baby-proofing kit contains electrical covers and corner guards for furniture to make the property you’re staying in a safer environment. Some may even include travel stair baby gates, which are essential if you’re staying somewhere with stairs.

12. Travel highchair

Make your weaning journey easier and less stressful when you’re away from home with a reliable travel highchair.

Having your own portable high chair means you won’t have to worry about whether your accommodation or places you eat at will have sufficient facilities.

Look for ones that are lightweight and easy to clean, and you won’t regret your purchase!

13. Backpack diaper bag

When you’re a mom, you need your hands free. That’s why a backpack diaper bag is a great item to have.

They’re easier to carry around if you’re out and about. Backpack diaper bags usually have extra pockets and storage for all your baby’s needs, such as a change of clothes, diaper changes and other toddler essentials.

Plus, they have compartments to help you be organized.

14. Lightweight stroller

A travel stroller is one of the best baby travel essentials because it makes it easier to get around. Choose one that’s lightweight and collapsible, so it doesn’t take up a lot of space.

It will also be easier to load in overhead compartments of trains and airplanes. Leave the bulky pushchair at home!

15. Ergonomic baby carrier

An ergonomic baby carrier is another of the travel essentials for baby because it’s better for your back. It’s a safe and practical way to carry your baby, especially where strollers are hard to maneuver.

A baby carrier also gives you the advantage of being hands-free while your tot enjoys the scenery. Choose a carrier that can be worn for both the back and front so it can be adapted for your baby’s toddler stage. Make sure it’s comfortable and machine washable as well.

16. Sleeping bag/swaddle

Add sleeping bags and swaddle blankets to your baby packing list of essentials for another layer of comfort. Choose lightweight swaddles and sleeping bags to make them easier to fold and more space-saving for your suitcase.

Top tip: the trick to traveling with a newborn or toddler is mirroring their regular routine. So, if that means your child normally falls asleep swaddled up in a blanket, you should also do this when away from home.

17. Sensory travel toys for babies

Baby travel essentials can also be fun! Toys can help distract babies and make them less anxious because it’s familiar and comforting. They’re also a great way to pass the time, making travel easier and more fun.

Some of the very best travel toys for babies include rattles. They are reasonably small, making them the perfect size to slip in your hand luggage, and your baby will love the noise they make.

Teether toys can help calm a fussy baby whilst on the move. High-contrast board books are another great way to keep little minds busy during long journeys.

Baby will love looking at the pictures whilst listening to you tell them a story. You may also include items like stickers, depending on your child’s age.

18. Travel blackout blind

When traveling with tiny humans, sheer curtains in the rooms are the worst. Your baby will likely wake up at the first sign of light, stopping anybody from sleeping well.

That’s why you need your own blackout blinds in your vacation budget, whether staying in a hotel, Airbnb, or with relatives. Amazon sells lots of different portable blackout blinds to suit your budget and style.

19. Waterproof wet bag

Carry a waterproof wet bag with you so you don’t have to worry about getting anything wet. It’s a better alternative than plastic bags. You can store wet clothes in it and keep the rest dry.

20. Water shoes

Water shoes are a must-have travel item if your baby has started walking.

They help to stop your kids from slipping and falling when playing around the pool, especially if they have just started walking and are a bit wobbly on their feet.

Additionally, swim shoes are great if you’re visiting beaches with lots of shells, corals, or rocks.

21. UV beach tent

When considering travel essentials for baby, don’t forget to take in the climate where you are staying. A pop-up beach tent provides an excellent sunshade for your little one.

Most tents also feature 50+ UPF for extra protection, so your tot isn’t sunburnt. That’s why beach tents should be added to your baby packing list.

Here’s a reasonably priced beach tent you can set up easily!

22. Cooler for snacks and formula

When traveling with your little one, you’ll need to keep snacks and liquids on hand, and a travel cooler is an easy way to do it. You can use a cooler for snacks and bottles or a cooler to store breastmilk.

23. Stroller weather cover

Whether you are out and about in the city or spending the day at the beach, if you’re going to be outdoors, a weather cover can be helpful. Bring a stroller cover that protects from rain and wind to make your baby more comfortable as you travel.

Expert tip: Travel at night with your baby when possible

There are several benefits to traveling to your holiday destination during the night when you have a baby in tow.

Firstly, it won’t disrupt your child’s routine as much, so there’s more chance that your bundle of joy will sleep during the night. That means that they will spend less time awake, hungry or bored.

There are usually fewer road users and passengers at night, so you can expect to arrive at your destination sooner than if you were traveling during the day.

If you’re flying to another country, you may also save money by booking night flight tickets, as it tends to be cheaper to fly during unsociable hours.

3 Commonly forgotten baby travel checklist items

Before you leave for a trip, there are certain things you can do to make the actual traveling more streamlined and enjoyable.

Use this checklist for baby travel to make sure everything is in place before the day you travel.

1. Travel insurance

Babies get sick. And if that happens, insurance can prevent you from losing a ton of money.

More importantly, travel insurance will ensure you have the right medical coverage in another country if you need to use it.

2. Check medications

If your baby takes regular medication, ensure you have enough to cover the days you’re traveling. For certain medications, you may need a letter from your doctor that explains to the airline what the medicine is for.

Clearly label all medications with your baby’s name, your contact details, and the correct dispensing instructions.

If you’re flying solo with your baby, in some situations, you may need to prove that you’re the child’s parent (especially if you don’t share a surname). Pack birth certificates and a consent document from the other parent so you’re prepared if you need to show them.

Helpful ideas to travel successfully with a baby

While there’s no perfect routine or system to stick to when traveling with a baby, there are a couple of things you can keep in mind that may help traveling be easier:

Keep a routine as much as possible

If your baby is used to a specific routine, try to stick to it as much as possible. While traveling may make things difficult, at the very least, if your child can take regular naps at the same time that they’re used to, it can go a long way in making them feel more comfortable while they aren’t at home.

If you can also try to have meals at similar times to the usual, this can be helpful, as well.

Bring plenty of items to entertain your child

Since you may be traveling for hours at a time, bring plenty of toys and items to entertain your baby. Books, toys, music, movies, puzzles, etc., can all distract your child so they are less focused on their surroundings. This is one of the best car or airport hacks.

What do babies need for traveling?

Our complete baby travel checklist contains the essential items to put in your carry-on when traveling with babies. There’s no need to spend weeks researching and worrying about what to pack. Use this checklist for peace of mind that you’ll have everything you need:

  • Baby passport
  • First aid kit
  • Travel insurance documents
  • Travel consent documents (if required)
  • Medication (if required)
  • Phone charger
  • Diapers/swimming diapers
  • Baby wipes
  • Changing pad or change mat
  • Diaper bags
  • Diaper rash cream
  • Sanitizing wipes
  • Baby lotion
  • Baby wash
  • Muslin
  • Nursing cover
  • Bibs (Silicone bibs are best for travel)
  • Burp cloths
  • Pacifier
  • Teething toys
  • Baby books
  • Two changes of baby clothes, onesies, or outfits
  • Breast milk or formula
  • Baby food (if weaning)

What items are essential for a baby on an airplane?

Items like snacks, toys and bibs are essential for a baby on an airplane. But in addition to these items, be sure to pack the following in your carry-on to help make the flight more comfortable for your baby and less stressful for you:

Earplugs

Airplanes can be noisy and unsettling places for little ones. During take-off, noise levels can rise and cause discomfort for babies and infants.

Baby-safe earplugs or headphones are a great way to help protect your child’s ears. They could even help your baby have a nap!

Lightweight blankets

An airplane cabin can get cold, so blankets are essential for little ones. It’s also a lovely way to get cozy and encourage sleep.

Toys

Let’s face it, flying can get boring on long-haul journeys. Babies don’t understand the concept of time, so using toys as a distraction is a good way to ensure your flight goes smoothly. Don’t forget your baby’s favorite cuddly toy too!

Spill-free sippy cup

If your baby is starting to wean, you may offer your child water. Airplane cabins have low humidity levels, so having plenty of fluids on hand can keep your little one hydrated.

The last thing you want is to deal with cleaning up a spillage in a cramped environment, so pack a reliable cup you know won’t leak.

Functional baby carry-on bag

The best type of carry-on to use when traveling with a baby is one with lots of easily accessible compartments so you can organize your items, such as formula, bottles, clothes, bibs, changing pad, diapers, diaper cream, baby wipes, hand sanitizer etc. It will save you the time and stress of trying to find something that you need quickly!

A carry-on bag you can wear on your back will keep your arms free for the baby. Remember to check that your bag complies with your airline’s size and weight restrictions before traveling.

Airports don’t stock a huge selection of baby travel essentials, so it’s important that you take all the essentials you might need for a baby on an airplane.

If you enjoyed this article on travel essentials for baby and the baby packing list, check out this related content:

A list of baby travel essentials can help you budget for the most important items!

We hope you found this list of baby travel essentials helpful, although we recommend being mindful of your budget and any extra cost.

And remember, when considering how much does having a baby cost, you don’t have to follow every new trend or buy every viral product for your baby.

Consider the most important items you’ll need for your child in the first few years, and focus on purchasing those baby travel must haves first. But as always, we encourage you to do what’s best for your family, especially when it comes to how to spend money wisely.

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Where To Find Rent Assistance for Single Moms https://www.clevergirlfinance.com/rent-assistance-for-single-moms/ https://www.clevergirlfinance.com/rent-assistance-for-single-moms/#respond Mon, 09 Oct 2023 14:07:40 +0000 https://www.clevergirlfinance.com/?p=59302 […]

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As a single mother, you aren’t just the sole caretaker for your children. You’re also the sole earner for your household. As a result, it can be hard to meet all your financial needs. The challenging economic times can cause housing problems for many families, especially single mothers, so rent assistance for single moms is crucial.

Rent assistance for single moms

Of course, any changes to your finances can make it hard to find affordable housing, even in a great economy. That being said, we’ve put together a list of options when it comes to rent assistance for single moms.

Programs offering rent assistance for single moms

Below is a list of some programs offering rent assistance for single mothers. Most require proof that your income is below a certain level as well as other circumstances that mean you qualify for these resources. 

Public housing agencies (PHAs)

The public housing agencies, or PHAs, in your area are a good resource to begin searching for rent assistance for single moms. They manage programs like the public housing program and the housing voucher program.

The public housing program

The Department of Housing and Urban Development offers the public housing program. This program helps provide safe rental housing for low-income families. In order to qualify for this program, you must be a low-income family, elderly person, or have a disability.

Income limits apply, and those limits vary by location, so you may qualify for public housing in some areas but not in all areas.

Nearly one million households across the U.S. live in public housing units , managed by about 3,300 different public housing authorities. To apply, start by visiting the HUD’s website to find your local public housing agency (PHA).

Housing choice voucher program (Section 8)

The Housing Choice Voucher (HCV) program is another HUD program for low-income families. This program doesn’t provide actual housing as the public housing program does. Instead, it gives out vouchers to help low-income families rent units in private housing.

Locally, housing choice vouchers are administered by public housing agencies (PHAs). The PHAs receive federal money from HUD to provide this rent assistance for single moms and other low-income renters.

The family is responsible for finding housing where the owner agrees to the rent under the program. The landlord’s payments come directly from the public housing agency on the renter’s behalf; then, the family pays the difference between the rent charged and the program’s reduced amount. Contact your nearest HUD office to apply. This process may have a long wait time, however.

Subsidized housing

The federal government has a HUD program for subsidized housing. This program gives property owners money to motivate them to offer low-rent apartments. This program allows renters to apply directly with the landlord or property manager. The property manager will then disclose income limits for each unit.

Also, property owners can force other requirements. Use the HUD affordable housing locator to find privately-owned subsidized rentals near you.

USDA rental assistance

The U.S. Department of Agriculture offers various programs to help families find affordable homes in rural areas. A rural area is housing that is located outside of urban areas. These programs help low-income tenants who can’t pay their full rent. They help by providing payments to the property owners on the renter’s behalf.

To be eligible for these programs, you must be a low or very-low-income tenant in a rural area. This is a great option for single moms looking for a home in the country. You can use the USDA website to find affordable rural rentals in your area.

Temporary Assistance for Needy Families (TANF)

Another federal program that may provide housing assistance is Temporary Assistance for Needy Families, or TANF. States receive grant money for low-income families with children, and with flexibility around how it’s used, it could go towards helping single moms afford rent, among other household costs.

Find out about TANF in your state to see whether you qualify for monthly cash assistance. 

State agency programs offering rent assistance for single moms

Just like the federal government, each state has a housing agency. Many states have rental assistance programs to help low-income families with housing costs. For more information, contact your state’s housing agency or authority.

Salvation Army

The Salvation Army provides a variety of programs to help individuals in need. Their services include:

  • Homeless shelters for those without a place to stay
  • Transitional housing for those recently evicted
  • Housing for those dealing with a domestic breakup, or any other housing crisis
  • Permanent supportive housing for elderly and low-income individuals

For more information, visit the Salvation Army website.

Catholic Charities

Catholic Charities USA offers affordable housing programs to vulnerable residents. They do this by providing emergency shelter or transitional housing, as well as long-term help to those in need. This includes rent assistance for single moms.

CCUSA currently has more than 35,000 permanent housing units around the country. 1,200 new units are being built to help aid more families. To find Catholic Charities services near you, visit the CCUSA website.

CoAbode

CoAbode is an organization designed to help single mothers connect and create a community. Their mission is to help two single mothers share a home and raise their children together. As a result, both mothers benefit from a reduction in housing expenses of about 40%.

Just imagine the additional benefits of having another mom around to share the load and possibly even connect on a personal level. Mothers also carpool to increase social interaction in the community. You can visit CoAbode’s website to learn more about their programs.

Local non-profit organizations offer rent assistance to single moms

Nationwide, non-profit organizations work to help people improve their lives in their communities. These organizations provide housing solutions such as transitional housing or financial assistance to help low-income individuals. Simply search for non-profit organizations in your city, county, or state to learn more. Area churches may also be a good place to begin.

Expert tip: Look into support from local and government organizations

Housing for single moms represents one of your largest expenses, and it can be scary as you worry about your children’s safety. Don’t be afraid to look into all of the government and local organizations offering resources to help you navigate single parenthood.

As a single mom, there’s likely nothing you wouldn’t do to provide a healthy environment for your kids. Use the resources available to you to make it easier to find rent assistance for single moms or other housing assistance. 

Other resources to leverage as a single mom

In addition to programs that specifically provide housing for single moms, you can also utilize programs that help in other areas. Affording nutritious food and safe childcare can be difficult on one income, so check if you qualify for assistance programs like WIC and SNAP. 

Women, Infants, and Children’s Program (WIC)

Women, Infants, and Children’s Program, or WIC, provides food assistance and guidance. While pregnant, breastfeeding, and postpartum, as well as up until age five for your children, you may qualify for WIC. Get food and health care referrals as well as nutritional counseling and education through this program.  

Supplemental Nutrition Assistance Program (SNAP)

You might know this federally funded program as food stamps, but it’s officially the Supplemental Nutrition Assistance Program (SNAP). If you’re a single mom on a low income, you may qualify for SNAP benefits, which are funds loaded onto an EBT card for grocery shopping. Income limits and money in the bank are factors in whether you’re eligible. 

Human Services Child Care Assistance Program (CCAP)

Not only is housing for single moms often a financial struggle, child care costs can absorb a huge chunk of your monthly income. Applying for the Child Care Assistance Program within your state may help cover much of the cost of daycare and supplemental childcare. 

Low-Income Home Energy Assistance Program (LIHEAP)

On top of housing for single moms, you’ve got to pay bills for utilities. The Low-Income Home Energy Assistance Program (LIHEAP) offers federal funds to help families afford energy bills. Stay cool in the summer and warm in the winter by accessing these resources. 

Learn more about money as a single mom

Being a single mom might not leave you with much free time as the breadwinner for your household, but there are ways to improve your financial literacy. If you don’t feel quite prepared financially, you are capable of learning and becoming more savvy about money. 

Take financial courses

Did you know that Clever Girl Finance offers over a dozen free online financial courses? Learn about organizing your finances, budgeting, building your credit, investing, and more with our resources. And of course, you can also browse hundreds of blog articles to help you optimize your financial life.

Read financial books

You can find a number of other ways of gaining financial knowledge. Your local library may hold free educational events on topics like budgeting and debt, for example. While we’re on that subject, if you haven’t used your public library, it’s a wealth of resources like financial literacy books

Find ways to increase your income

While you’re in the trenches of trying to find housing for single moms, as well as feed and care for your kids, it may be easy to ignore your future. But even if your income isn’t where you want it to be, it doesn’t need to stay that way. 

Acquire new skills

Try ways of boosting your income, like taking online courses to train for a new career, or starting a profitable side hustle. These skills can provide you with the tools to successfully earn additional income.

Find side jobs

There are several jobs for moms without a degree and jobs for stay-at-home moms to consider.

If you can’t find a ton of time to pursue extra income, see if you can swap childcare with a mom friend. That might gain you a few hours for a weekend side job if you can find someone you trust with your kids. 

How can I afford to live on my own as a single mom?

Signing up for public housing or rent assistance for single moms through governmental and local organizations can make your ability to afford living on your own feasible as a single mom. In addition to housing assistance, you may be eligible for resources that help single moms afford childcare and nutritious food. 

What is the best place for single moms to live?

The question of where to live as a single mom depends on a lot of different factors. You’ll need to do some research on the resources and programs available to you based on your income, assets, family size, and other qualifications. Inquire with both government and non-profit organizations to find out what options you have, of course keeping your children’s safety top of mind.

If you have found this article on rent assistance for single moms helpful, check out this other related content:

Leveraging rent assistance for single mothers can help ease financial troubles

Raising children on your own brings its own unique financial challenges, among other single mom struggles. Luckily, there are plenty of organizations offering rent assistance for single moms, which can make it easier to survive financially

If you are currently facing housing concerns, start exploring these programs to find an affordable housing solution. Above all, keeping your family safe is most important. P.S. Here are some tips on how to create a single mom budget.

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How To Make Money On Maternity Leave: For Moms Who Need To https://www.clevergirlfinance.com/how-to-make-money-on-maternity-leave/ Tue, 14 Mar 2023 21:34:16 +0000 https://www.clevergirlfinance.com/?p=46178 […]

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How to make money on maternity leave

Maternity leave can be a magical time for a new mom (and moms of multiple kids). It can also be fraught with financial and emotional strain. Many moms are learning how to make money on maternity leave to cover their bills.

Although spending your maternity leave focusing 100 percent of your energy on your newborn may sound wonderful, not all moms can do that.

Due to high living expenses and other factors, you might need to learn how to make money while on maternity leave.

It’s not always possible to work full-time while you’re getting to know your little one. But even making a little money before going back to your regular job could help ease the pressure on your budget.

Why you might need to make money on maternity leave

In a perfect world, every mom would get plenty of time to spend with her newborn baby before heading back into the office.

Bonding with a new baby, getting the hang of breastfeeding or bottle feeding, and catching whatever sleep you can is more than enough to fill up the time during maternity leave.

But we know in the U.S., it’s a pipe dream for many moms. A startling percentage of American workers don’t have access to paid maternity leave, and some don’t even get unpaid leave. That’s why having a child is one of the major life events that impact your finances.

Types of leave and statistics about maternity leave

There are various types of leave, such as family leave, paid sick leave, or short-term disability coverage. Unfortunately, many moms don’t get any financial coverage to stay home with a new baby.

As American Progress notes, 57% of private sector employees don’t have short-term disability insurance through an employer.  Plus, over 76% don’t have the option for paid family leave, which is used for maternity leave as well as other family-related medical care.

And let's not forget about hourly workers and contract workers. Plenty of moms fall into those categories, and their employers don't always have to offer benefits like maternity leave.

According to federal law, you must give 12 weeks of unpaid leave if an employer has 50 employees or more than 50, as Business News Daily explains.

But that's just reassurance that your job will be waiting for you after 12 weeks, and not any kind of financial benefit to get you through them.

Currently, U.S. law doesn't require paid family or medical leave, which is why so many postpartum mothers need help. If you’re worried about how to make money on maternity leave, you do have some options.

26 Ideas for how to make money on maternity leave

While I hope that Americans’ access to paid family and medical leave improves, moms today need to figure out their own solutions.

If you’re able to take unpaid maternity leave without losing your job, these are some ways to make money from home.

1. Buy short-term disability insurance (if possible)

This first tip might not work for everyone, as you really have to be planning ahead. But if you can know far enough in advance when you might be pregnant or adopt a child, you could possibly open a short-term disability policy.

Some employers offer this, so if you get that already, you’re fortunate. But many workers can supplement their income by paying for short-term disability insurance before they need it.

For example, companies like AFLAC sell short-term disability coverage. If you know a couple of years before you plan to have a baby, you could take out a low-cost plan that pays you back once you’re on maternity leave.

Be sure to calculate the cost against the benefits carefully. Under the right circumstances, you could get a significant payment from the insurance provider to help you cover your bills.

2. Open a high-yield savings account

A high-yield savings account could be useful while on maternity leave if you already have savings you don’t need to touch yet. It’s not going to make up for lost income but could ensure you make money off your savings.

Opening an interest-bearing savings account can help you keep emergency savings accessible without sacrificing all of your returns.

3. Trim your budget

Next up, be sure to take a look at your budget. How much you spend each month is important, as that impacts how much money you need to earn.

If you don’t have paid leave or a partner covering expenses, try to cut some costs.

Many of us have a few areas where we can reduce our spending. Clothing, dining out, and entertainment might be good places to start.

If you can drop any of your recurring or variable expenses, that’ll lower the shortfall you face during maternity leave.

Of course, a tricky aspect of this goal is that having a baby increases your overall expenses.

Even the most frugal of parents still need a baby budget. Diapering supplies, formula, increases in insurance costs, and more will impact your finances.

This is why it’s so important to streamline your budget wherever possible. Every little bit can help.

4. Become a virtual assistant

Virtual assistant (VA) work is a great option for a mom on maternity leave because you set your own schedule.

Virtual assistants can also decide which tasks they’re willing to take on for clients, so you can tailor the job to your talents and interests.

Becoming a VA can include doing tasks like social media management, email management, data entry, customer service, and more.

VA work may be a good fit for how to make money on maternity leave thanks to its flexibility. You can work from your home and set your hours (or work a few minutes at a time, as the baby allows!).

5. Be a social media manager

One arena of tasks that can be part of a VA’s schedule is handling social media for clients. Whether you’re an expert in Pinterest, Instagram, Twitter, Facebook, TikTok, or all of the above, there are clients who need those skills.

Plenty of businesses now rely on at least one social media platform to draw in customers, so social media managers are essential! Plus, you can score fairly flexible hours and take on just as much work as you want.

6. Make money on maternity leave by freelance writing

You’ve probably heard through the grapevine of at least a few people making money via freelance writing. Writing can be a side gig or even become a full-time gig if you wish.

While on maternity leave, even just one or two clients for freelance writing work could help make up for any lost income. Writing blog posts or social media content is one way to go.

If you have a journalistic background you might also write for magazines or newspapers.

7. Try freelance bookkeeping

If you’re more of a numbers-minded woman rather than language-oriented, you might start a freelance bookkeeping business. Companies of all sizes employ bookkeepers who manage their financial accounts.

Bookkeeping isn’t as complex as accounting, so it’s easier to break into the field even with zero experience. If you can be organized and pay attention to detail, you can likely learn the skills to be a freelance bookkeeper.

8. Become a freelance proofreader

There are a ton of options for freelancing, including freelance proofreading. If you constantly find yourself correcting people’s written errors, proofreading might be just the maternity side hustle for you.

As with many freelance jobs, you might start finding clients on Upwork or FlexJobs. Check out these other ideas for how to get paid to read books!

9. Write and sell an e-book

Now, this suggestion is not one that you can expect to simply do in a few hours and start raking in cash.

However, if you have writing skills and an interest in putting in real effort, writing an e-book to self-publish could earn you some extra income.

Perhaps this is the type of work you could do while your baby naps during the day. It’s likely going to be a tougher way to make money, though, as there’s quite a bit of initial effort with no guarantee of a payout.

You never know, though—whatever idea you have for a children’s book, a book on new motherhood, or any other topic, it could strike a chord with readers.

10. Care for other children while on maternity leave

You can likely make money while on maternity leave if you’re able to offer childcare for other families. Of course, your own infant is your priority, but that doesn’t mean you can’t handle another child or two.

If you think you’ll have the energy to safely care for another child or multiple children during maternity leave, go for it. This doesn’t have to be full-time care.

You might simply offer a couple of hours of after-school care for a friend’s kids. Or be the “date night” sitter for a few months for couples in your area (you probably aren’t going out much anyway).

11. Find a part-time job with childcare

This could be a tricky one. But you can look online and in the classifieds for part-time job opportunities.

Some places might be able to offer childcare while you work, which can give you a break while letting you earn money.

Perhaps a gym would offer infant care while you work the front desk. Or you could ask your local library if they need part-time help and would allow you to bring the baby along.

It’s not going to work everywhere, but you never know until you ask, right? If it doesn’t work out, try a “work-from-anywhere” job instead.

12. Create an online course for passive income

More and more people are earning money by selling courses they’ve created. Spend some time thinking of what your skills are and whether there’s a way to market them.

Selling an online course is a fantastic way to earn passive income.

You do the research, preparation, writing or recording, and any other parts of the creative process first. Then, once everything is set up, you can sell the course indefinitely.

If you’d like some inspiration, these passive income books could give you ideas for making your own online course.

13. Set up an Etsy store

For creative types, one of the best ways to share your gifts with the world is Etsy.

Perhaps you could make hand-drawn greeting cards or sell your famous crocheted hand towels. Or if you’re good with making attractive printables, those are great to sell on Etsy.

While you might want to someday take your creations to local craft fairs and festivals during maternity leave, an Etsy store can be perfect. You don’t have to leave your home to create money-making crafts.

14. Do online customer service part-time

Would you enjoy answering product or delivery questions by email? Perhaps you could start a small side business and learn how to make money on maternity leave doing customer service.

Online customer service is a valuable tool in today’s economy. Most of us don’t want to spend time actually talking on the phone.

We’d rather communicate through email or chatbots to handle business questions.

Search online for customer service jobs you can do remotely, and you might find something that fits your needs. This way, you can keep caring for your baby and making money, all from your own home.

15. Provide catering or cooking services (on your own schedule)

You may have a fantastic skill in making a specific few meals or baking bread. While on maternity leave, you might be able to sell your best food items to the public.

This job could require a lot of marketing, but through social media, it isn’t all that hard to locate potential clients. Whether you’re baking bread or cakes for events or making whole-catered meals, you could do it all from home.

Be sure to check into the laws in your state and local area about food-related businesses first. Find out if you fit the qualifications based on the type of kitchen you have and your qualifications to prepare food.

16. Offer a laundry service

If you’re not someone who hates the idea of piles of laundry, doing an in-home laundry service is a great idea for how to make money while on maternity leave.

One woman interviewed by Business Insider started her home laundry business with SudShare in 2021. She earns about $30,000 per year now doing people’s laundry in her home.

You simply sign up on the platform, choose which jobs to accept in your area, and then do an awesome job.

Providing extra touches like folding everything neatly and wrapping it with a ribbon could help bring you repeat customers.

17. Sell photos for stock sites

Both amateur and professional photographers can make money by selling photos on stock image sites.

Places like iStockPhoto and Shutterstock are platforms for photographers to sell their work.

Photography is a great art form that can allow you to explore your creative side. You can use photos you’ve already taken or create new images during any free time you have while bonding with your baby.

18. Start a print-on-demand shop

For another idea of how to make money on maternity leave, have you ever considered a print-on-demand (POD) shop? This is when you use an online storefront, submit your designs, and let them print orders for you.

POD shops are often used by popular YouTubers, who might create apparel or coffee mugs, or other merchandise with their slogans and images on them.

If you have some unique ideas for funny or interesting products, create images or logos that can be reproduced on them.

For a mom on maternity leave, POD shops are great because you don’t need inventory and can work whenever you want. The business mostly runs itself!

Many POD platforms exist, including:

Are you passionate about health or fitness?

Perhaps you have expertise in a certain area of health, maybe one that impacts new moms like yourself. Could you start an online health business?

An online business in the arena of health or well-being could be a great way to make money from home. This might involve posting inspirational content about your own health or fitness journey, sharing products you love, or even selling your own course.

Be sure to back up any claims you make, and don’t pretend to be more qualified than you are. You don’t have to be a doctor, but you should always be honest about what you can provide when making claims about health.

20. Be a health coach (for pregnant women or new moms)

If you’re skilled in healthy lifestyle areas, you could try to start a health coaching business. Maybe you’d focus on working with new moms, but maybe you’d be open to all kinds of clientele.

Again, be sure to only take on work that you’re qualified to do. Perhaps you have a small fitness area in your own home and could welcome a few clients a week for personalized workouts.

Or you could offer online coaching or prepare workout plans for specific people.

21. Become a postpartum doula

A postpartum doula is someone who offers support to families with new babies. As Postpartum.net explains, a postpartum doula could provide "information and support on infant feeding, emotional and physical recovery from childbirth, infant soothing", etc.

You might be suited to being a postpartum doula if you have the training and the desire to help women and families with their newest addition.

You can check the following resources for information on how to become a postpartum doula:

22. Create video content on social media

Making video content for social media platforms is a way to make money from your own home. If you need to make money while on maternity leave, you can create videos for social media.

This may include being a YouTuber or making videos for TikTok, of course. There are people making money from all kinds of video content, from information on fast food and grocery stores to inspirational content.

23. Be a notary public

Another way you can learn how to make money while on maternity leave involves signing documents. You do have to leave your home to be a notary public, but it can still be a fairly flexible side hustle.

A notary public is someone who witnesses the signing of important documents such as loan or mortgage papers.

In most states, you only need to be over 18 years old and not have a felony record to become a notary public.

Some states require you to take a course of several hours to become certified, and 12 states require you to pass an exam.

You might choose to become a notary signing agent who focuses on notary services in real estate transactions. Some people report charging up to $200 per signing, which can make it well worth your while.

24. Invest in dividend stocks

This money-making tip isn’t a side gig. Instead, it requires you to already have money, then invest it in dividend stocks.

Dividend investing, put simply, is when you buy stocks that pay dividends or shares of a company’s profits or earnings. This means if the stock continues to pay dividends, you’ll make money on your investment even if the value of that stock doesn’t go up.

If you want to try dividend investing as part of your investment strategy, be sure to weigh the pros and cons.

This won’t likely be a great way to cover your expenses during maternity leave, but more of a way to continue adding to your future nest egg.

25. Invest in real estate

If you want to make money by investing in real estate, buying properties to rent out is one way to go. Of course, that can be time-consuming and require a lot of money upfront.

You could also invest through REITs, which let you buy shares as an asset whose underlying value is in real estate investments. These are ways to grow your total portfolio for the future.

Again, this is a potential way to earn money while you’re on maternity leave. However, it may not be a great solution if you have to make cash to live off until you go back to work.

26. Use Amazon affiliate marketing on your own blog or website

Another tip: you can make money with a blog by promoting products available on Amazon. Affiliate marketing is where you share products in articles that you like or recommend.

When readers come to your site and click your affiliate link and make a purchase, you get a cut of that purchase.

It can take some time to build a following before you make any money from affiliate marketing, but once it gets going, it can be fairly passive income.

You can learn how to make money on maternity leave and grow your income!

Making money on maternity leave is possible—you just need to decide where to put your energy. Since you won’t have unlimited time and energy, you need to pick one or two money-making ideas that make sense for you.

Use these ideas to help you figure out the best way to manage your maternity leave with your finances intact.

The post How To Make Money On Maternity Leave: For Moms Who Need To appeared first on Clever Girl Finance.

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41 Money Saving Blogs For Moms!  https://www.clevergirlfinance.com/money-saving-blogs-for-moms/ Sat, 16 Jul 2022 17:43:59 +0000 https://www.clevergirlfinance.com/?p=31165 […]

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Money saving blogs for moms

Are you looking for the best tips for saving money as a mom? Sure, running a house and raising a family can be tough on the wallet, but countless moms live frugally and share their best tips on how to save. Whether you need to find inexpensive activities for the summer break, are saving for a family vacation, or need to make a Christmas budget, these money saving blogs for moms contain all the tips and tricks you need.

What are money saving blogs for moms?

Money saving blogs for moms are, simply put, blogs written by moms who have learned how to save money. They want to share their tips with other moms.

These blogs are packed with information on how to save money on groceries, how to create a budget, how to save money on kids activities, and so much more.

What do the best money saving blogs for moms have in common?

So, what makes a brilliant personal finance blog? There's no secret recipe, but all of the top money saving blogs for moms provide actionable advice - real guidance that you can work into your day as a parent.

They're all written by moms who understand our unique financial challenges, whether paying for childcare, saving for college, or affording more school shoes. And a touch of wit thrown in for good measure is always popular with readers!

Top 42 money saving blogs for moms

So we've handpicked 42 of the best money saving blogs for moms. In the list below, you'll find a mix of general money saving tips, frugal living advice, and creative ways to make extra cash.

Scroll through them in your spare time to supercharge your financial education.

1. Clever Girl Finance

Founded by Bola Sokunbi, the Clever Girl Finance blog empowers women to take financial control of their lives by ditching debt, saving money, and building real wealth.

We're proud to be among the largest personal finance sites for women in the US, with a blog covering every aspect of money management.

Readers can expect articles on money mindset, online shopping, financial literacy reading lists, money-saving challenges, and so much more.

2. Mama and Money

Mama and Money was founded by Fo Alexander, an online serial entrepreneur, and mom of two little ones.

First up, her blog shares all the advice she followed to clear $78,000 of student loan debt in just three years. And that's not all because her articles also focus on family budgeting and motherhood tips.

3. Penny Pinchin’ Mom

Penny Pinchin Mom is packed full of printables, coupons, and daily budgeting advice. Whether you're looking for financial literacy books for your kids or info on how to organize your pantry so you don't waste food, there's something for every mom here.

4. Smart Money Mamas

Have you ever wanted to develop a more positive relationship with money? If so, the Smart Money Mamas blog covers everything from the psychology of money to business and career advice.

You'll learn how to afford more of what you want while reaching your goals and being excellent financial role models for your kids.

5. Life and a Budget

Life and a Budget aims to support women in creating a better financial situation for their families while enjoying a carefree lifestyle.

From learning how to start a blog on a budget to exploring ways to treat yourself without spending money, there's a wealth of guidance for every mama.

6. Rich Single Momma

Rich Single Momma shares examples of how to tackle personal finance and parenting as a single mom. From taking on side hustles, making extra money, and learning how to deal with deadbeat dads, this blog proves nothing should hold single moms back from reaching their financial goals.

7. Moms Make Cents

Moms Make Cents offers tools and tutorials that demonstrate how moms can budget, save, and start making excellent money from home.

In addition, working from home has never been more possible, and the blog reveals legitimate online jobs for moms that aren't seedy and pay well.

8. The Budget Mom

The Budget Mom is all about helping moms take back control of their finances, one step at a time. From understanding the actual cost of raising pets to learning about student loan forgiveness, the former "broke rich girl" shares how far she's come now she's got this financial freedom thing figured out.

9. Single Moms Income

Single Moms Income is a go-to resource for single moms looking to make extra money online to improve their financial situations. Basically, the blog acknowledges that working from home isn't always straightforward.

But with more than 1,000 single mom posts, you'll learn how to improve your income and use it wisely by budgeting, saving, and investing.

10. Moneywise Moms

Moneywise Moms offers family finance advice but also delves into frugal home reno projects covering everything from updating your home office on a budget to how to mount a TV, so you don't need to pay someone to do it!

11. A Dime Saved

A Dime Saved is run by Robyn, a millennial mom and tight-budget expert. She provides excellent advice for personal finance beginners, so this is a great pick if you're looking to switch to a frugal lifestyle.

12. Coupons and Freebies Mom

Coupon and Freebies Mom does exactly what it says on the tin. Firstly, the blog focuses on amazing deals which make the most of your family budget.

But the fun doesn't stop there as there are also tons of tutorials if you're entirely new to couponing, along with tips on how to get started in crypto.

13. Wealthy Single Mommy

Wealthy Single Mommy advocates setting dream goals, launching fantastic careers, and saying goodbye to debt.

Emma Johnson is the award-winning author and journalist behind the blog, and her guidance gives you all the steps you need to survive and thrive as a single mom.

14. Centsable Momma

Centsable Momma is run by Corrie, a frugal mom of boys who shares her best advice on deals, couponing, and other essential tips to keep your family budget in the black.

But that's not all! Her blog also includes nutritious family recipes and hacks to keep your home in shape!

15. Deal Seeking Mom

Deal Seeking Mom is the place for moms who want to maximize their hard-earned cash. So, what's it all about?

Tara Kuczykowski is a stay-at-home mom of five kids who teaches readers how to stretch their budgets and make room for the occasional temptation.

In her words, "reconciling champagne tastes with a tap-water budget" is a challenge, but one that she's wholeheartedly taken on in her blog.

16. Saving Dollars and Sense

Saving Dollars and Sense is a frugal living and finance blog by homeschool mom Kristie Sawicki. Basically, you'll learn how to trim your budget while still living healthily with her top advice. As a bonus, you'll also change the way you save!

17. Money Saving Mom

Money Saving Mom was established by Crystal Paine, a mom of four kids. She keeps on top of the latest deals, so you don't have to.

And if you needed even more of a reason to check in with this blog, we also think you'll love the tips on store deals, mobile savings, freebies, and online offers.

18. Handful of Thoughts

Handful of Thoughts is your go-to place if you want to understand the mindset behind how us moms control our finances.

In fact, articles on this blog go deep into the money mistakes we've all made and the lessons we can take away from them to be successful in the future.

19. The Leveraged Mama

The Leveraged Mama shows readers how to make their money work harder for them, which is something we all need!

Specifically, New Zealander Peti writes about how to build passive income streams to create financial abundance in our lives.

This blog is also a must-read if you're interested in building your own online course on your path to wealth.

20. Frugalful

Frugalful is a blog about living a pretty life on a budget. Christy gives super detailed posts on recipes, entertaining, home décor, and frugal living tips.

But it doesn't just skim the surface, you can expect a deep dive into subjects like how to garden on a budget.

21. Happy Humble Home

Happy Humble Home is an excellent read if you're worried that living frugally is no fun. In fact, the blog's tagline is "because frugal feels good." So, have a read if you're sick of being broke and want tips to save money, and pay off debt while still living your best life!

22. Mama Loves Money

Mama Loves Money is centered firstly, on making money doing something you love and secondly, saving money so you can have more of what you love. Sounds pretty simple, hey?

And it is when you read articles about online remote jobs, financial goal setting, and how to boost your financial attitude.

23. Thrifty Frugal Mom

Thrifty Frugal Mom digs deep into frugal living, incorporating recipe plans and home organization tips, frugal gift-giving, and money-saving tips.

By following Lydia's pearls of wisdom, you'll learn that it's super easy to enjoy life on a budget and be frugal and thrifty at the same time.

24. Money for the Mamas

Money for the Mamas teaches you the foundations of money management. So, this is a good choice if you're looking for essential guides on budgeting, saving money, and making money.

It's also an excellent replacement for the type of financial education we should have received (but probably didn't) in high school!

The blog also includes access to printables, templates, workbooks, and how-to guides.

25. Ottawa Mommy Club

The Ottawa Mommy Club is a helpful blog offering frugal tips for people in any location. This one has your family well and truly covered, from deals and discounts to affordable crafting tips!

26. Two Kids and a Coupon

Two Kids and a Coupon was created by Kim, a mom of two with a passion for saving money and finding entertainment on a budget. You'll find family-friendly activities, recipes, products, and more in these fun and colorful blog articles.

27. The Pay at Home Parent

The Pay at Home Parent is like a stay-at-home parent but with a difference: moms who follow the advice on this blog earn heaps of money either as side hustles, passive income, or as their own small business.

So, this is one of the best money saving blogs for moms if you want to improve your financial situation while still being around plenty for your family.

28. Everyday Thrifty

Everyday Thrifty includes a wide range of activities and tips you can use to save money in your life. But this blog also has a faith section with articles about affirmations, mindsets, bible verses, and Christian podcasts.

29. The Busy Budgeter

The Busy Budgeter, also known as Rosemarie Groner, gives super creative advice on meal planning, home organization, and income ideas that make the most of your budget.

It's ideal if you're chronically disorganized and are hoping to reduce the chaos in your life while also making headway with your personal finances.

30. Frugal Mama

Frugal Mama offers tips on living a simple life to create a happy family. Along with printables, you'll find top money advice about how to hire a great accountant, how to plan your retirement savings and learn how to splurge while managing to save.

31. Frugal Girl

The Frugal Girl is Kristen, who has been a fan of saving money ever since she was little. Nowadays, she uses her blog to describe how to live cheerfully on less.

32. Caroline Vencil

Caroline Vencil loves to empower women to save and make money using practical everyday steps. She describes her approach to budgeting as "fierce," but you can't help but be inspired by her articles.

33. Club Thrifty

Club Thrifty is a clever mix of saving more while traveling more, brought to us by Holly, who has traveled to more than 40 countries with her family.

The Club Thrifty blog explains that having a budget and spending intentionally allows you to live your best life and shows you exactly how to do it.

34. Sarah Titus

Sarah Titus once lived in a homeless shelter with $30k of debt but has turned her life around and now runs two million dollar businesses from her home. So, this is a great blog to read if you want to learn more about her incredible story and her faith in God.

Alongside stellar guidance on how to make money from home, Sarah also offers printables and plenty of money saving tips. 

35. Thrifty Little Mom

Thrifty Little Mom shows moms who are used to chaos how to stress less and feel more in control of their finances and lifestyle.

Join Kim's chaos crew by reading articles on personal finance, DIY crafts, frugal party planning, and decluttering tips.

36. Femme Frugality

Femme Frugality doesn't just have a killer blog title, it also has an amazing backstory. Katie Jakub saved money for her husband to go to college by being financially creative.

She also shares her tips on food planning, entertainment, and how to throw a wedding for under $3,000.

37. The Penny Wise Mama

The Penny Wise Mama offers a plethora of tips and tricks to help you live well while spending less. As a Colorado mom of three, Marisa explores how to save money while still affording awesome purchases and most importantly, eating delicious food!

38. Nanny to Mommy

Nanny to Mommy is a blog offered by Diana, a former nanny who is now a mom. She loves to share her musings on budget-conscious parenting, traveling, crafts, and family-friendly recipes.

39. Come Save Away

Come Save Away was born when Kristen's husband proposed, and they needed to plan a wedding on a budget.

Since their happy day, the Come Save Away blog has expanded to include couponing info and budgeting articles such as 50 ways to save over $50.

40. Penniless Parenting

Penniless Parenting was born after Penny decided to keep track of her family's spending. She was amazed by the results and chose to share her exploration on a blog. So, if you need to tackle parenting on a low budget, you'll love dipping into these articles.

41. Living Well Spending Less

Living Well Spending Less is a blog about finding joy in the midst of motherhood and financial difficulties.

It's run by Ruth Soukup, a New York Times bestselling author who loves to empower women to live well on a budget. You'll find articles on everything from goal setting to minimalism to mastering the art of gift giving.

Which of these money saving blogs for moms are on your reading list?

Phew, that's quite the list, isn't it? We've absolutely loved sharing these money saving blogs for moms, but we're not expecting you to commit to reading all of them.

Instead, now you know they're out there, why not read around a little and choose your favorite?

A great tip is to subscribe so new posts are delivered straight to your inbox. Then you can save them for later or read them whenever you have a spare moment. Happy reading!

And if you want to know more about a specific money subject, check out our free financial courses at Clever Girl Finance.

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Do Women Pay Child Support? What You Need To Know And How To Plan https://www.clevergirlfinance.com/do-women-pay-child-support/ Thu, 31 Mar 2022 09:37:59 +0000 https://www.clevergirlfinance.com/?p=18686 […]

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Do women pay child support

Many may wonder "Do women pay child support?" Well. a lot of people think about child support and custody along very gendered lines—the mother has primary custody, and the father pays support.

However, this certainly isn’t always the case. Women paying child support do exist!

That said, there are a lot of factors involved in determining custody and child support arrangements. It isn’t always as simple as “when men have primary custody, women pay child support.”

Let’s explore some of these considerations and cover some financial planning tips for women paying child support.

How does child support work? 6 Factors the courts consider

Before we answer "Do women have to pay child support?" let's cover how child support actually works in the first place. When families separate, it doesn’t automatically mean that one parent will owe the other one child support.

Some parents may share joint custody. Some might make an out-of-court arrangement if they’re both reasonable and committed to co-parenting.

However, divorce and separation tend to be tough and emotionally grueling. Sometimes involving the legal system is the best way to keep things fair for everyone—most importantly the child or children.

A parent who wants legally ordered child support must file a petition and appear in court if necessary. Every state has its own formula to decide who will pay and how much.

In order to determine legal child support agreements, the courts usually look at some or all of the following factors.

1. Who has physical custody

This is probably the largest factor that courts consider when ordering child support. Physical custody refers to which parent the child lives with (one or both). A parent without primary physical custody can still have partial custody or visitation rights.

If the mother has sole or primary physical custody, then it’s likely that the father will owe child support. If the father has sole/primary physical custody, then it’s likely the mother will owe support.

For parents who share joint physical custody, who pays child support is based on other factors.

Legal custody refers to the ability to make major decisions about how the child is raised.

For instance, parents with joint legal custody must come to an agreement about the child’s education, medical procedures, travel out of the state or country, etc. Parents can share joint legal custody even if they aren’t sharing physical custody.

3. The income of one or both parents

Parental income is another large factor in the child support equation. In the US, states tend to use one of three models to award a child support amount:

Income Shares Model

This model considers both parents’ incomes in order to better equalize and maintain the child’s standard of living. It is currently the most common child support model used in the U.S.

Percentage of Income Model

Some states only look at the income of the non-custodial parent and order them to pay a certain percentage. The custodial parent’s income is irrelevant in this formula.

Melson Formula

This is a more complex variation of the Income Shares model. The main difference is that it ensures that the non-custodial parent can keep enough money to meet their own basic needs first. 

There are reasons for each model to exist, but the idea of child support should always be about fairness, not punishment.

For instance, if the custodial parent is wealthy and the non-custodial one is barely straddling the poverty line, paying support shouldn’t leave them unable to pay their rent.

That’s why many states have self-support provisions (or use Melson). Or, if it’s the other way around, the primary custodian shouldn’t have to struggle to put food on the table when the other parent lives in a mansion!

Variance in income can also affect child support when the parents share joint legal and physical custody. The court may order the higher-income parent to pay a higher percentage of costs, just as they would if income was pooled in a shared household.

4. How many dependents each parent has

Does either parent have children from a previous (or subsequent) marriage? Or are they caring for a disabled or elderly dependent relative? Do they owe or receive any support for their additional dependents?

Many courts will factor in a parent’s obligations to other legal dependents while settling the current case.

5. Expenses to support the child/children

Income isn’t the only factor that can affect the amount awarded for child support payments. Courts will typically also look at the real expenses parents incur to support the child.

Expenses may be split up into necessities vs extras and considered separately. Or, they may all be lumped together.

A child’s basic living expenses usually mean:

  • Housing
  • Utilities
  • Food
  • Clothing
  • School supplies

As you can see, these are all costs that are relatively stable and predictable. But there are often other things parents need to pay for that fall under section 7 child support expenses.

Section 7 expenses might include things like:

Who is currently covering these expenses? How much do they add up to each month? Are they necessary? What percentage is fair for each parent to pay based on their income? These are all questions a family court may ask.

6. Any possible reasons for deviation

Since most states tend to have formulas that guide child support decisions, it’s often just a matter of doing the math. Deviations are basically reasons why a judge might make exceptions to the formula.

For instance:

  • The child has special needs or high medical/mental health care expenses.
  • A parent has a very high or very low income.
  • The child/a parent has a trust or other unusual financial considerations.
  • The child’s standard of living would decrease using the formula.
  • Expenses to support the child are low (paid-off house, etc).

Deviations are a good thing to discuss with a lawyer since they’re very much based on the family’s unique circumstances.

Do women pay child support?

So, now that we’ve covered how child support is calculated: Do women pay child support? The short answer is yes. If the father is the primary custodian and the court has considered all relevant factors, they certainly can order that women pay child support.

That said, whether women paying child support is common is an entirely different question. There are a lot of reasons why women pay child support less frequently.

Custodial parent statistics

This is the biggest reason why it’s rarer to see women paying child support. Mothers are more frequently the custodial parent. In fact, 82% of single-parent U.S. households are led by single moms. That’s a rate of about 6 to 1.

Because mothers are much more likely to be considered the primary caregiver, fathers pay child support more often.

The parent pay gap

Whether a mother is the custodial parent or not, her economic reality tends to be a grimmer one.

According to the most recent Census.gov custody report, a higher percentage of single-mom families live in poverty. In fact, about 19-50% of single mom families (depending on the number of children) live in poverty compared to only 11.2% of single-dad families.

Non-custodial mothers also tend to be poorer, earning less than half as much as non-custodial fathers. As you can see, this can have quite a financial impact on single mothers.

Out-of-court private arrangements

The census also shows that only half of all custodial parents have legal or informal child support agreements at all. Custodial fathers tend to sue for child support less often since they generally do better financially.

Furthermore, non-custodial mothers are more likely to provide help in forms other than cash. 64.5% of custodial fathers reported receiving support in the form of gifts, clothes, groceries, and medical expense coverage.

Among parents who don’t have a legal child support arrangement in place, the kids are also more likely to stay with the mother at least part-time.

5 Financial planning tips for women paying child support

As you can see, the issue of women paying child support isn’t always so cut-and-dry. But if you’re in a situation where you owe child support, here are some tips for factoring it into your finances.

1. Create a new budget

It’s best to consider child support as another one of your essential expenses like rent and utilities. If you don’t pay owed support, it could result in wage garnishment, license suspension, or even a warrant.

To make sure that doesn’t happen, try one of these budget templates/tools to get a clear picture of your income and spending. As a busy mom, remember to pick a budget method that is easy for you to stick with!

2. Track any extra expenses you cover for the child

Make sure to keep track of anything you’re paying for in addition to child support, especially section 7 expenses.

The idea isn’t to be a penny pincher with your kid but to accurately track what you’re spending for them in case you need to provide that information to the court.

3. Reduce non-essential spending

Child support can add a big expense to your monthly budget. The average monthly payment in the U.S. is less than $500, but of course, yours will vary depending on your situation.

You can make room in your budget by cutting out non-essentials and finding creative ways to save money. For instance, something as simple as slashing cable can save you quite a bit of money every month.

Go through your finances and find things you can cut. This is a powerful tip that will help women pay child support!

4. Find ways to increase your income

Increasing your income will be beneficial to both yourself and your child(ren). If you already have a full-time job, use these tips to ask for a raise. If you have a part-time job or want to earn money on nights or weekends, try these ways to make money on the side.

You can start a side hustle, create passive income, and even find a higher-paying job if you have to. This will ease the burden if you do become one of the women paying child support!

5. Petition for an adjustment if you can’t afford the full payment

The court system isn’t meant to put struggling non-custodial parents into a dire financial situation. If you can’t afford the payments even after reworking your budget, petition the court to adjust the order.

You’ll likely have to show that your circumstances have changed since the first order. That could mean proving an income decrease, an injury/disability, or a new child.

While waiting for a modification, keep paying what you can. Partial payments look better to the court than skipped payments.

Yes, women pay child support too!

So now you have the answer to "Do women have to pay child support?" Although the situation may be complicated or painful, there’s nothing shameful about women paying child support.

You’re working hard and doing your part to give your kids a safe and stable childhood, even if you’re not sharing the primary home. Remember to plan financially to help ease the burden of paying child support.

Use your time with your children to give them a great foundation of knowledge they can use as they grow into adults. Check out our guide on financial literacy for kids!

The post Do Women Pay Child Support? What You Need To Know And How To Plan appeared first on Clever Girl Finance.

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How To Survive Financially As A Single Mom  https://www.clevergirlfinance.com/how-to-survive-financially-as-a-single-mom/ Wed, 23 Mar 2022 16:18:14 +0000 https://www.clevergirlfinance.com/?p=18381 […]

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How to survive financially as a single mom

If you’ve recently split from a partner, you might be worried about how to survive financially as a single mom. Not only are you dealing with the breakdown of a relationship, but financial pressures can pile up too. 

Even if your ex is supportive, it’s still expensive to run two households with little ones to raise. Heartbreaking fact: nearly a third of US single-parent families live in poverty. But it doesn't have to be this way. So, if you’re struggling, we've created some key financial and budget tips for single moms that you can use today.

11 Key tips on how to survive financially as a single mom

Let’s dive right in to learn exactly how you can support your family financially as a single mom.

1. Change your financial mindset

There are plenty of stigmas attached to being a single mom. You may have heard, "Single moms are always poor."

The truth is: it can be tough, especially when your children are small. And it’s easy to feel overwhelmed. But you’re also in control of your mindset when approaching your finances.

One of the best financial tips for single mothers is to stop being afraid of money and change the narrative. Instead of focusing on challenges, try to see the opportunities that money can bring you. The more open you are to receiving money in your life, the more likely you will attract a life of abundance. 

For example, recognize past mistakes instead of dwelling on them. Choose to learn new ways to handle your finances, take one of our free courses, and be better equipped to receive money into your life in the future.

Mom hacks can also help you save money and become financially sound.

2. Separate your finances from your ex-partner

You may still have a joint account with your ex, and it can make financial sense to keep this open if you’re sharing the cost of raising your children.

But starting afresh, it’s important to open your own bank account alongside any joint funds. You might even need to close out a joint account and that's fine too.

Have your salary paid into your personal account and then transfer an agreed amount into your joint account for shared expenses. This will put you firmly in the driving seat of your finances and gives you responsibility for your budget.

3. Take out insurance for your family

Nobody likes to imagine the worst will happen, but it pays to be prepared by taking out insurance to avoid family financial problems. The two main types to focus on are life insurance and health insurance.

Life insurance

This is an affordable way to ensure your family will be protected financially in the event of your death. You can take out life insurance on a term basis where your cover will be in place for a set period, for example, 10-20 years. Alternatively, you can arrange whole life insurance lasting for your lifetime—this is usually more expensive.

Health insurance

Medical cover is essential if you ever need emergency or preventative treatment for yourself or your little ones. But the cost can be astronomical, so how can single moms afford insurance? Some options are:

Employer-sponsored health insurance

Your contribution must not be more than 9.5% of your annual household income.

Family health insurance

You can apply directly for cover through an insurance marketplace.

Medicaid

Medicaid is a government health insurance program that helps low-income families and individuals. The requirements vary from state to state.

Children's Health Insurance Program

Check to see if you qualify for the Children's Health Insurance Program. It is free or low-cost health insurance for single parents.

Short-term health insurance

If you're between employers, you can take out intermediate short-term cover if you face a medical emergency.

Your own parent's health insurance

If you're a younger single mom, you may be on your own parent's health insurance up to the age of 26. Although, your own children won't be covered.

Getting properly insured is one of the most important financial tips for single mothers.

4. Increase your earnings

Wondering how to survive financially as a single mom on a low income? The easiest way to improve your situation is to increase your earnings.

Some people will choose to take on a second job. But this can be challenging when you must balance out the cost of childcare while you’re earning money. Instead, you can:

Ask your employer for a salary increase

If you’re been working for the same employer for a while, why not ask for a raise? Employees with an excellent track record, and proven results in their role, could put forward a strong case to their employer.

And it is the era of The Great Resignation, after all. So, there’s never been a better time to have this discussion with your boss. It’s often more affordable for your employer to pay you more, than hire someone new and train them to be as good as you!

Try to find a job with better pay

But what happens if your boss isn’t interested in rewarding you for your hard work? Why not shop around and see what other jobs are out there? Not only could you find a position with a higher salary, but another company may offer more flexible working options for moms or a greater benefits package.

Take on a work-from-home side hustle

Do you feel you have more spare time as a single mom in the evenings? Consider starting an online side gig to tap into your creativity and add an extra income stream to your family finances.

You could sign up with a freelance marketplace like Upwork to try your hand at offering freelance writing or graphic design services.

Or you could sign up with Etsy if you prefer to make and sell handcrafted goods. Check out these 12 of the best work-from-home jobs for inspiration.

5. Start debt management to survive financially as a single mom

If you’ve relied on credit cards or loans in the past, it can be expensive to meet the cost of these debt repayments. When you’re learning how to survive financially as a single mom, one of your top priorities should be debt management.

If you’ve borrowed from multiple lenders, you can consolidate this debt into one place, so you’re only paying interest on one overall sum. It's tempting to find a lender offering a 0% balance transfer fee.

But always check the terms and conditions of your agreement. This will make you aware of how long your introductory interest rate lasts, and what it will be following this fixed period.

You can also follow a debt management strategy to help you knock down the amount you owe.

Debt snowball

Start by tackling the smallest amount of debt you owe. Once you’ve cleared this debt, you’ll carry the minimum payment amount, plus the amount you have set aside for debt repayments, and start paying off your next biggest debt. Check out our post "How To Use The Debt Snowball Method" and get a free tracker too!

Debt avalanche

With the debt avalanche method, you’ll start by paying off the debt amount which carries the highest interest rate. Then you’ll move on to the next highest, and so on. In this way, you’re concentrating on repaying your loans without paying any more than you have to.

6. Understand your taxes as a single mom

Your tax situation is different as a single mom than it would be if you were married. For example, if you earn at least 50% of your household income as a single mom, you can claim Head of Household (HOH) status on your W4.

This will typically give you a lower tax rate and higher standard deduction than if you were filing as a single taxpayer or a married taxpayer filing separately.

As Head of Household, you may also be eligible for a Child and Dependent Care Credit in dependent care expenses. The amount of credit can be higher if you have two or more children or dependents.

7: Set financial goals to survive financially as a single mom

When learning how to survive financially as a single mom, make sure you look to the future. It can be easy to get caught up in making this month’s rent, or meal planning for the week ahead. And while these are critical steps, it’s also important to consider your financial goals.

Know exactly what your goal is and when you want to achieve it by. These can be divided into three categories.

Short-term goals

These are goals coming up soon, usually within a year. You might want to set aside money to take a vacation, pay for Christmas, or plan a birthday party for your kids. Check out our list of 24 yearly goals everyone should have for ideas!

Mid-term goals

Examples of mid-term goals could be paying down your student loan debt, saving up for a downpayment on a house, or increasing your net worth to a set figure. It's important to set mid-term goals because it helps make achieving your long-term goals much easier.

Long-term goals

Setting up a college fund is a long-term goal you can make to support your children. You can also set a goal of saving for retirement - start by understanding if your employer offers a 401k plan to take advantage of. Alternatively, you can open an IRA and start contributing each month.

Setting goals is one of the most beneficial financial tips for single mothers that leads to success!

8. Make a single mom budget

We’ve talked a lot about all the different things you should be budgeting for, like insurance, savings contributions, and debt repayments. But how can you keep on top of all these outgoing expenses and make sure you still have enough to live on as a single mom?

The most important step is to build a single mom budget! Here are some great budget tips for single moms:

Calculate your income and expenses

Step one is to get organized. Now is the time to gather all your figures, log into your bank account and see the big picture.

Start by knowing how much money you earn each month, plus whatever your ex contributes financially to raising your kids. This would include any child support payments if you are eligible. You’ll then deduct your regular expenses from this overall number.

Expenses will differ from household to household but may include:

  • Rent or mortgage payments
  • Utility bills
  • Insurance
  • Transport (car, including gas and insurance)
  • Childcare
  • Groceries
  • Debt payments
  • Broadband and mobile phone
  • Subscriptions
  • Clothing and shoes for your children

Once you’ve deducted these outgoing expenses, you’ll know how much you have left to add to your savings or spend on leisure activities like a treat trip to the cinema.

Choose a single mom budget style

Using the baseline figures you've gathered above as your money management foundation, you can then choose a budgeting style to follow:

What's one of the most essential budget tips for single moms? Pick a budgeting method that is not too time-consuming and is easy for you to stick to!

Use apps to help you stick to your budget

It’s easier to keep track of your budget if you use a digital tool or app. You can download various budgeting apps to your desktop or smartphone. These apps can give you an overview of your bank accounts, credit cards, and loan balances - all in one place.

Follow frugal living tips

You can save a ton of money when switching to a more frugal lifestyle. This hinges on making simple switches to cut out wasteful spending from your budget. This might mean taking a family picnic with you to the park instead of grabbing takeout on the way home.

Or it could mean exercising for free at home instead of taking out an expensive gym membership. It's fine to throw a little luxury into your budget, but you'll meet your financial goals faster if you stay frugal most of the time. Learning ways to be frugal is one of the best money-saving budget tips for single moms to use!

9. Find affordable housing

It can be hard to know how to survive financially as a single mom when the cost of accommodation is high in your area. If this is the case for you, consider moving somewhere more affordable. You might even find you can offer your family a better quality of life with more space and save money.

For example, the most expensive cities in the US include New York, San Francisco, Honolulu, Boston, and Washington. If you live in one of these areas, it may be cheaper to work outside in the suburbs. Although if you work in the city, you’ll need to weigh up the increased travel time and costs for your commute.

The US Department of Housing and Urban Development also assists landlords in offering affordable rent for single moms and low-income families. You may qualify for a HUD state-sponsored housing program.

10. Get help with childcare

The government provides childcare subsidies to individual states, but the amount of aid available does vary widely. There's also financial support available for military families and those in the Department of Defense. 

It's also worth checking with your employer to see if they offer a Dependent Care Account. This is a government-backed subsidy program designed to make tax savings on your childcare expenses.

11. Seek help as a single mom

Seeking help when needed is one of the most crucial financial tips for single mothers to utilize. If you’re struggling to provide your family with the nourishment you all need, support is available.

Check out the Special Supplemental Nutrition Program for Women, Infants, and Children (WIC) which can support single moms with children under the age of 5.

This includes if you’re pregnant or breastfeeding. You may also be eligible to receive food stamps to support the cost of living.

Leverage these tips for how to survive financially as a single mom

Now you've learned how to survive financially as a single mom, it’s time to set the wheels in motion and take positive action to improve your family finances. Know it IS possible to raise a family by yourself without falling into poverty, but support is available when you need it.

With the right financial direction, you won’t just survive, you’ll provide a comfortable and stable environment for your children to grow and thrive in.

The post How To Survive Financially As A Single Mom  appeared first on Clever Girl Finance.

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How To Afford Being A Stay At Home Mom https://www.clevergirlfinance.com/how-to-afford-being-a-stay-at-home-mom/ Fri, 18 Feb 2022 21:06:55 +0000 https://www.clevergirlfinance.com/?p=17541 […]

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How to afford being a stay at home mom

Congratulations on your new bundle of joy! There’s nothing quite like bringing a little one into the world. With endless cuddles, first smiles, and all those baby milestones, you’ll want to devote as much time as possible to your newborn. So, if the idea of returning to work after 12 weeks fills you with dread, you might be wondering how to afford being a stay at home mom.

The high cost of childcare means it’s not always worth it to go back to work full-time and pay for daycare too. Especially if you have twins or two under two!

Childcare costs have increased by 41% for center-based daycare, and families are now spending an average of $14,117 annually.

Giving up a full-time salary can be tough though - there’s a lot to consider. This guide will help you crunch the numbers so you can answer your burning question "Can I afford to be a stay at home mom," and show you how to chop unnecessary expenses from your budget, so you can be with your kids 24/7.

How to afford being a stay at home mom

Stay at home parent rates have increased across 46 states. US Census Bureau reveals a 60% increase since 2019 in one parent staying at home to provide childcare.

Mississippi topped the list of states, with 6.5% of households including a stay at home parent. At the other end of the scale, the lowest proportion of stay at home parents is in Iowa.

If the idea of giving up your full-time job to stay at home sounds appealing, planning your finances should be a priority. Let’s take a deep dive into some calculations so you can prepare to become a stay at home mom.

Calculate your baseline spending before becoming a stay at home mom

Your first job is to gather your bank statements and look through the last few months of spending. Note down your recurring payments so you know exactly how much you spend on categories like:

  • Rent or mortgage
  • Utility bills
  • Insurance
  • Transportation
  • Groceries
  • Subscriptions like Netflix
  • Phone and cable
  • Clothes
  • Eating out or dining in
  • Entertainment
  • Exercise

Even writing these expenses down is an opportunity to take an honest look at your budget and work out where you could make cutbacks. Could you take up running or exercise at home instead of paying for that expensive gym membership?

You can also shop around to reduce your monthly payments in areas like your insurance, utility bills, and mobile phone tariffs. If you reduce these bills by $10 a month each, these can quickly add up to greater savings. 

How to afford being a stat at home mom

Calculate how to afford being a stay at home mom by NOT working

The next step of how to afford being a stay at home mom is to work out how much money you’ll spend by giving up work. Because yup, actually going to work can be expensive too. Work out how much you typically spend on:

  • Commuting (gas, public transport)
  • Eating out (lunch or breakfast)
  • Coffees on-the-go
  • After-work drinks
  • Miscellaneous expenses like collections for colleague birthdays

Don’t forget to add in the estimated cost of childcare if you decide to go back to work. Find out the rates of at least three daycare providers or nannies in your local area and take an average.

Prepare for unexpected expenses

Once you’ve crunched the numbers, you need to figure out if your partner’s salary can cover your baseline spending with room left to spare. This part is crucial because unexpected expenses do happen, so consider how you will afford an emergency payment like:

  • Car repairs
  • A hole in your roof
  • Replacing a broken TV

We would always recommend building an emergency fund with at least 3-6 months saved to cover your core necessities like food, rent, transport, and utilities.

If you’ve already created this pot before dropping to one salary, you’ll have an excellent safety net if life hits you with anything crazy.

Consider the impact of being a stay at home mom on your health insurance

Medical cover is a huge concern for families - we all want the reassurance that we can afford healthcare if our children need it.

Before dropping to one salary, check if you receive healthcare through your partner’s employer and what it covers. Remember that the cost of your healthcare may increase with every child you add to the policy.

Calculate if you have enough money for savings

The paycheck to paycheck scenario is typical in young families, especially as you factor in new costs to your budget like diapers, baby formula, baby clothes, and endless toys and birthdays.

If you’re living on a single salary, setting aside money for the future can be challenging as a single mom. But by committing to a budget, you can pay yourself first by contributing to a regular savings plan. Your newborn may seem small right now, but it’s never too early to start saving for college!

You may have heard that 10% of your salary should go to savings, but 20% would give you a better cushion. Don’t forget to add this calculation to your stay at home mom budget.

Planning ahead to afford being a stay at home mom

Ideally, you’ll be asking the question, “How can I afford to be a stay at home mom?” during your pregnancy, so you’ll have plenty of time to prepare.

But…. sometimes plans change. And that’s okay. Many moms go back to work after their crazy-short maternity leave and decide they don’t want to be there anymore.

Remember it’s never too late to change your mind. So, if this is you, work through your budget quickly and make cutbacks to understand your numbers and make a solid plan. 

Save during your pregnancy

The time when you’re still receiving a full salary is the right time to:

  • Cut back on your expenses
  • Practice living on a single budget
  • Put your salary into a savings account

Some of your savings will need to go towards those big-ticket items for your baby, like a stroller, crib, baby monitor, and car seat. Saving money ahead of time is how to afford to be a stay at home mom once your baby arrives!

Evaluate your living arrangements

Having a baby is life-changing, and you may feel that the home you’ve been living in isn’t the most child-friendly. When you’re young, free, and single, it makes sense to live in the center of downtown, surrounded by friends and the buzz of city life.

But do you need to live in that expensive city apartment as a stay at home mom with a newborn? You can often save a bucket of money on your rent or mortgage by moving out to a smaller town.

You’ll be rewarded with heaps more living space too. Minimizing your living space is another way how to afford to be a stay at home mom.

Plan your mom budget

When you're deciding how to afford to be a stay at home mom, a budget can make or break your decision. Without one, it’s easy to spiral into debt by spending on credit cards and taking out loans. 

There are many different budgeting styles to choose from, including:

The main thing is to pick a budgeting method that works best for you and your family!

Be prepared to cut back on your spending

You may find that your lifestyle changes naturally once you have a baby. But it's understandable that you're concerned about how to afford being a stay at home mom. The great news is it's easy to make some frugal adjustments like:

Learning ways to be frugal is how to become a stay at home mom while being financially savvy!

5 Ways to earn money as a stay at home mom

If you’re nervous about your vanishing full-time salary, remember that being at home doesn’t need to put a stop to your earnings. There are plenty of stay at home moms who have turned a successful side hustle into a roaring business.

And the benefits aren’t just financial! It can be super rewarding for moms to invest time and energy into a passion project that goes beyond singing nursery rhymes and wiping sniffles away!

Looking for inspiration on how to earn money while you become a stay at home mom? How about some of these work from home ideas?

1. Blogging/affiliate marketing

Starting a blog is an ideal way to make extra cash as a stay at home mom, with minimal start-up costs. You’ll just pay for a domain name and hosting, which usually runs between $50-100 for the year.

To get started, choose a niche to blog about - perhaps related to your former work, a personal hobby, or stay at home mom tips. The key is to write regularly and engage with your audience by responding to comments.

Are you wondering how this makes any money? Bloggers usually make cash through affiliate income. This means you recommend products on your site and take a percentage of the sale as a referral commission.

2. Setting up a daycare

If you're already at home caring for your child, why not open your doors and offer daycare for other families too? If you've been wondering how to afford being a stay at home mom, offering daycare can be incredibly rewarding.

And the benefits aren't just financial! You'll also get a thrill from supporting the growth of other children while providing plenty of playmates for your little one.

But opening a daycare is more complex than being a babysitter or a nanny. Before you start, you'll need a license, current CPR certification, a clean driving record, and various other documentation.

Insurance is a must-have, and you may decide to rent out a daycare space if your home isn't suitable. You might expect to pay $10,000 upwards to launch your business, but there are grants available for professional caregivers.

3. Virtual assistance

Being a virtual assistant can be a lucrative career, and fits in well with family life. If you have previous experience in admin or any aspect of running a business, you can offer a virtual assistant service to business owners and help to manage their emails, calendar, social media, bookkeeping, and more.

Start-up costs are low, which is always important if you are worried about being able to afford starting a business with little money. But you’ll need to promote your services to attract clients.

Some virtual assistants will set up their own website and use PPC or social media to drive traffic to it. Others might sign up with a virtual assistant agency to receive client work.

4. Freelancing

If you have existing skills you could leverage or are willing to learn some, freelancing is a flexible career that can grow alongside your family.

You only need a laptop and broadband connection to get started. As a freelancer, you might offer skills like content creation, graphic design, or web design.

Freelancers frequently find work on sites like Fiverr or Upwork, but the pay is low. You may choose to start here and then drive leads to your own personal portfolio website.

5. Transcription services

If you’re a fast typist with excellent listening skills, you can turn audio files into text. Lawyers require a written account of courtroom proceedings, while doctors might need audio from a medical conference transcribed into text.

Transcribers working from home are sent encrypted files to convert into meaningful text with accurate grammar and spelling. To get started, you can sign up with a transcription agency like Scribie where you may need to take a quick transcription test on application.

Worried you won’t find the time to take on work like this? The beauty of these jobs is they can all be done remotely at a time and pace that suits you.

Once you have your baby in a healthy sleep routine, you could work on your side hustle for two hours during a lunch-time nap, plus an hour or two in the early evening.

Final thoughts on how to afford being a stay at home mom

Now you’ve reached the end of our guide on how to afford being a stay at home mom, it’s time to make some decisions about your work and family balance. But remember that nothing’s permanent.

If you go back to work and don’t like it, you can always become a stay at home mom later on. Equally, if being at home permanently isn’t working out, that’s ok too. You might consider your partner being the stay at home parent while you return to work.

There are no rules, and everyone’s situation is different. So take your time in building the best plan for your family!

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How Much Does Preschool Cost And How To Plan Ahead! https://www.clevergirlfinance.com/how-much-does-preschool-cost/ Mon, 20 Dec 2021 13:45:55 +0000 https://www.clevergirlfinance.com/?p=16328 […]

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How much does preschool cost

A little bundle of joy can add considerable costs to your budget. One of those big costs is preschool. New parents everywhere can’t help but wonder "how much does preschool cost?"

The short answer is that preschool can cost thousands of dollars. Although preschool is undeniably expensive, having a better idea of the cost can help you plan ahead for this major financial commitment. 

In this article we are going to cover questions such as: How much is preschool, what determines the cost, and how can new parents prepare for this additional expense. Plus, how you may be able to save with the help of preschool alternatives.

What is the cost for preschool dependent on?

The cost for preschool can vary widely across the country. The answer lies in the variable cost of living factors that can be found around the country. If you live in a high cost of living area, you can expect that to translate to a pricey preschool. Likewise, those living in low cost of living areas will likely find lower preschool prices.

But even within cities, the type of school can have a big impact on the costs. An exclusive preschool with a long waiting list can often charge higher prices than a less sought-after school.

Another factor that can affect the price is the amount of time your child spends there. If you send your child to preschool a few mornings a week, you’ll likely pay less than if you send your child to preschool every workday for the entire day. With that being said, let's dive into the big question "How much is preschool?"

How much does preschool cost?

So how much does preschool cost on average? According to the World Population Review, the average cost of childcare ranges from $5,436 to $20,913 per year, depending on where in the United States you live.

That’s clearly a wide range of costs to consider. The most expensive state for childcare is Massachusetts at $20,913. Some of the expensive states for preschool include California, Minnesota, Connecticut, New York, Maryland, Colorado, Washington, and Virginia.

On the other end of the scale, Mississippi is the most affordable at $5,436 in childcare costs per year. Alabama, Kentucky, South Dakota, Arkansas, and South Carolina have similarly low childcare costs.

Another authority, the National Association of Child Care Resource & Referral Agencies (NACCRRA), the average cost of preschool ranges from $4,460 to $13,158 per year. 

Even with various estimates, one thing is clear — the cost for preschool will be an expensive undertaking for your budget. 

How can new parents begin to prepare for the cost of preschool?

No matter where you live, preschool costs can easily reach thousands of dollars per year. But as a new parent, you can take steps to prepare for the cost for preschool.

Here’s a closer look at the strategies to help you prepare for this big expense. 

Research costs ahead of time

So how much is preschool in your area? The best way to prepare is to take the time to research the cost for preschool in advance. With some time to conduct research, you’ll be able to explore all of your options.

One thing to look into is any cost-saving programs in your area. Depending on your situation, you may find some available government assistance programs to help make preschool more affordable. A good place to start looking at these options is Childcare.gov.

Beyond assistance programs, check out the different options around town. You might be surprised to find a gambit of prices available in your area. Consider the quality of care and the price when exploring your options.

Start saving as soon as possible

It is no secret that preschool costs will add up quickly. Even if you find a relatively affordable option, it will likely take a toll on your budget. So, it’s a good idea to start saving for these preschool costs as soon as possible.

One way to start saving is to set up a sinking fund for your child’s preschool expenses. By setting aside some funds each and every month, you’ll be better prepared to handle the big bills that preschool may throw your way.

Create a new budget

Childcare costs will likely be a big portion of your budget. As you incorporate this new expense into your life, creating an entirely new budget that works for you is smart.

A budget should reflect your financial goals and your values. It's likely that raising a child will impact your budgeting goals. So starting from scratch with an entirely new budget will signal the start of a new chapter in your life — and your financial priorities.

Need help creating a budget? Take advantage of our free budgeting course to craft a budget that works for you. 

Preschool alternatives

The cost for preschool can be steep. So if preschool isn't a good fit for your child or your budget there are other options to consider.

Choose to be a stay at home parent

The decision to become a stay-at-home parent is a big one. You’ll have lots of factors to weigh in this decision. One of those factors is the cost of preschool versus the income a parent can produce outside of the home.

Run some comparisons to see where your situation stands. Another factor is the desire to stay at home with your children or work at a traditional job to achieve other goals. This choice involves a lot of introspection before moving forward.

Ask for help from relatives

If you have relatives close by, then their help could greatly alleviate your preschool costs. Plus, your relative will have the opportunity to spend more time with your child.

Of course, not everyone is lucky enough to have this option. But if you have someone to ask for help, consider reaching out for a helping hand. You might be surprised at how willing family members are to help out.

Consider a preschool co-op

The structure of a preschool co-op varies. But the general premise is that parents volunteer time to the preschool with the intention of lowering costs for every parent and child. Depending on the setup, you may need to contribute hours each day, week, or month.

Take some time to check out the local preschool co-ops to see if there is a good fit.

Check out local mom groups

Local mom groups are a wealth of resources for a variety of reasons. But one big reason is that local moms can help each other out with childcare.

For example, you could trade childcare duties with another mom in your area. You’ll both have some time to work on other things. But you’ll both spend time watching your child with some playmates.

Prepare financially for the cost of preschool!

Preschool costs are a big hurdle for your budget. But some creativity and planning can go a long way to cut these unavoidable costs. One of the biggest ways to prepare for this shock to the budget is to do research ahead of time. So, find out what the costs are in your area to start saving.

You can make saving money fun by enrolling in our completely free "savings challenge" bundle! It includes various money-savings challenges that will help you bulk your savings faster than ever. Get top tips on saving money, budgeting, and building wealth by subscribing to the Clever Girls Know podcast and YouTube channel!

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Planning Out Your Cost Of Diapers Per Month! https://www.clevergirlfinance.com/cost-of-diapers-per-month/ Fri, 12 Nov 2021 12:54:31 +0000 https://www.clevergirlfinance.com/?p=15551 […]

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Cost of diapers per month

The expenses that come with your bundle of joy can add up quickly. You might easily overlook the cost of diapers per month. But diapers can take a big bite out of your monthly budget.

Luckily, there are ways to save on the average cost of diapers per month. Let’s explore how to plan for the cost of diapers per month!

How much do diapers cost per month

So, how much do diapers cost per month anyway? Diapers may not seem like a big expense before you bring home a baby. But once you start running through diapers, you’ll quickly see how the costs can add up.

According to New York Life, you’ll spend approximately $75 per month on diapers. That can lead to an annual expense of $900. Although that is the average cost of diapers per month, the final cost of diapers per month in your budget will vary a bit based on your child, the brand, and your luck with coupons.

Clearly, diapers are a big expense to add to any budget. But since 95% of moms in the U.S. exclusively use disposable diapers for their babies, it is an expense that most families must budget for.

Budgeting the cost of diapers per month

The cost of diapers can add up quickly. But it is possible to budget for this expense. As with all of the other expenses in your life, you can create a budget that incorporates your child’s diapers. For instance, if the average cost of diapers per month is $75, then you need to add that into your baby budget!

You can choose from a variety of different budgeting methods. A few include the cash envelope budgeting system and the zero-based budgeting method.

If you need help building a budget that actually works for you, then I highly recommend taking our free “Create a Budget That Works” course. The step-by-step class will walk you through the process of building a budget that includes your diaper costs.

How to save on the cost of diapers

It’s no secret— diapers can get expensive quickly. But the good news is that there are plenty of ways to save for moms on a budget. Here are some of the best ways that you can save on diapers.

1. Use affordable brands

Not all diapers are created equally. As a parent, you’ll quickly learn which diaper brands work best for your baby’s bottom. But it is a good idea to give the more affordable brands a try. There are several high-quality diaper brands that offer an affordable price point.

For example, some generic brands offer an affordable choice without compromising on the experience.

At the very least, it is a good idea to find a few different brand options that work for your baby. With the ability to switch to different brands, you can stay flexible when one or the other goes on sale.

2. Ask for diapers at your baby shower

Diapers might not be the most adorable gift at a baby shower. But if you register for diapers, you will definitely use the gift!

If you register for diapers, it is a good idea to choose a few different sizes. Babies grow very quickly. With that, you can ask for a scale of diaper sizes to help get you started at each stage.

As a gift-giver at a shower, it can be tempting to pass up diapers for a cuter choice. However, the one thing new parents are always reaching for is a fresh diaper.

3. Shop the sales

Shopping the sales can really cut the cost of diapers per month. Diapers are expensive items that go on sale relatively frequently. Although you should absolutely keep an eye on the sale prices at big box stores like Target and Walmart, you might find better sales at smaller stores.

For example, pharmacies might not be your first thought for diaper shopping. But it is possible to rack up big savings on their diaper sales. CVS and Walgreens are both stores that regularly run sales on diapers. Plus, both offer in-store rewards programs that could help cut the cost of your diaper bill.

4. Seek out coupons

Coupons can offer a goldmine of savings on diapers. But you need to know where to look for the best coupons. You can sign up for rewards programs with the biggest brands. A few include Huggies, Pampers, and Luvs. Once you are in the rewards program, you can access big discounts and high-value coupons.

Another place to check out is Amazon Family, which offers up to 20% off diapers through your Prime account. Plus, there are more coupons available through Amazon Coupons. 

5. Buy in bulk

Buying diapers in bulk is one way to save money. You can find diapers at a more affordable price point per diaper when you make big purchases. A few places to look for these big deals include Costco, Sam’s Club, and BJ’s Wholesale Club.

6. Only buy what you need for a few weeks at a time

Buying in bulk can lower the cost of diapers per month. However, the downside of bulk buying is that your baby might outgrow the size before you finish the package.

If you are worried about having too many diapers of the wrong size on your hands, then consider only buying what you need for a few weeks at a time. As your baby grows, you can obtain the exact size that they need.

7. Exchange diaper sizes with others

If you have too many diapers of a particular size, then exchanging diapers with other moms in your area can be a smart move. The exchange will save everyone money. Plus, you won’t have excess diapers in the wrong size cluttering up your home.

Ask around in your community of moms to see if anyone is up for a trade. Or check out Facebook mom groups!

8. Give reusable diapers a try

As we mentioned before, 95% of moms in the U.S. use disposable diapers. Reusable diapers provide a more affordable and environmentally friendly solution. But this path is not the right choice for everyone.

If you choose to go with reusable diapers, you could save thousands of dollars on diapers. Take a minute to explore the possibilities of cloth diapers before abandoning the idea. This single choice could reduce your average cost of diapers per month and be a real benefit for your budget!

The cost of diapers per month adds up but you can plan ahead!

The cost of diapers per month can add up fast! As your baby grows, it might seem unbelievable at the sheer number of diapers they will go through. But with some savvy shopping strategies, you can keep this cost as low as possible.

Learn more fun ways to save money with our completely free "savings challenge bundle." It includes a meal planning challenge, a 30-day master your spending challenge, and more! Don't forget to check out our YouTube channel and tune in to the Clever Girls Know podcast for more great financial tips!

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5 Main Baby Costs In The First Year To Budget For https://www.clevergirlfinance.com/baby-costs-in-the-first-year/ Tue, 19 Oct 2021 09:35:00 +0000 https://www.clevergirlfinance.com/?p=9166 […]

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Baby costs in the first year

A few months ago, my closest friends shared the most exciting news anyone could ask for - they're having a baby! It's been exciting to watch them go through various stages of the journey. From surprising family, friends, and co-workers with the news to buying first-time parenting books. Yup, they are figuring out how on earth they're meant to raise a whole human! But the big question they had to figure out was what the baby costs in the first year (and onward) would be!

They really want to give their baby the best of everything, but without breaking the bank. Perhaps you also trying to figure out all the expenses to expect with a baby plus wondering "how much does a baby cost per month on average?" Well, you're in the right place because this article discusses everything you need to know about having a baby!

How much does a baby cost in the first year?

If you are just starting your family or having a second baby, outside of celebrating this amazing news, the next thing on your mind is probably what it will cost. There are many baby costs in the first year, but there are also reoccurring monthly costs for your new little one.

New York Life states that baby costs in the first year can be anywhere from $20,000 to $50,000! That said, here are some key expenses to answer the question, "How much does a baby cost in the first year?". Keep this in mind as you map out your baby budget.

1. Prenatal care and delivery costs

So how much does having a baby cost when it comes to the actual delivery? In most cases, a new mom will give birth in a hospital. These costs include prenatal doctor visits, ultrasounds, the actual delivery, and the hospital stay.

The hospital costs depend on the type of delivery you have. For instance, routine vaginal deliveries can average between $5,000-$11,000. While the average c-section prices run anywhere from $7,500-$14,000. If complications occur, these costs can be even higher.

Where you live and what type of insurance you have will also impact your out-of-pocket expenses. Plus, you may incur additional costs for tests, prescribed medicines, and anesthesia associated with epidurals.

2. Upgrading your living situation

Many couples need more space once they have their first or second baby. If this is you, you may even be considering buying your first home. This would mean factoring in saving for a down payment, moving costs, and more.

To avoid becoming house-poor or stretching yourself too thin, it's essential to factor in any moving and home purchase cuts into your budget as you plan your finances for your new baby.

3. Items for the baby

Babies need a lot of things. However, it can be a very slippery slope and super easy to go overboard in this category. Here are some key baby items and general costs associated. This way, you can plan out your expenses as you plan your "mom budget."

Car seats and strollers

The price range for car seats and strollers can be all over the place, depending on how fancy you want to go. However, You can get a really good car seat and stroller combo brand new for between $150 and $300.

While it makes sense to save money as a general rule, you may want to buy a car seat brand new to ensure that you're getting the safest kind available on the market for your baby.

Diapers

Diapers are another one of those monthly costs you need to incorporate into your budget. According to the National Diaper Bank Network, the average baby goes through six to ten diapers in a day which can come to $80 a month or close to $900 in diaper costs a year.

To really save on this expense, consider buying diapers in bulk (hey Costco and BJs), using coupons, or accepting diapers as part of your registry. You'll also need to remember wipes!

Baby food

So how much does a baby cost per month on average when it comes to baby formula? Depending on what formula your baby needs, the costs of baby formula can be $1,200 to $3,000 a year or $100 to $250 per month. This is based on the average can of formula costing $25 to $30 and lasting around one week.

Baby bottles and breast pump

Another expense that adds up fast is baby bottles. They can cost $5 to $20 each. You will also need to invest in a breath pump. The price range for a breath pump depends on the brand and can range between $200-$400.

Baby clothes

When it comes to baby outfits, a good question to ask is how much is too much? On one hand, you want your baby to look super adorable in that new trendy outfit, but on the other hand, he or she will outgrow the outfit in no time.

If you're sticking to essentials, you'll be pleased to know that you can comfortably budget $60 to $80 a month for the first year, and then as the baby's growth rate gradually slows, clothes will naturally start to last a little bit longer.

Toys, nursery, and furniture

Babies lead busy lives playing, sleeping, and bouncing around, but they need baby gear to make it all happen. And if there's one place that every mom holds dear, it's the nursery.

These costs can be pretty significant depending on what you decide to do. When it comes to toys, this can get as expensive as you want them to be.

Start by focusing on the essentials such as the crib, bassinet, high chair, swing or walker, and a few toys and books to keep your baby entertained. As you plan through this, ask yourself, "will this make a positive impact on my baby?" You'll quickly realize that the crystal chandelier you're eyeing for the nursey will do nothing for the baby's wellbeing!

4. Childcare and babysitting

If you're working parents, you will no doubt need additional support with taking care of your baby. But how much does a baby cost per month on average for daycare anyway?

Well, if you are fortunate enough to have family or friends close by that can lend a helping hand, this can eliminate the immediate need to pay for costly daycare.

However, not all parents have this luxury. Many daycare options exist; however, your budget will largely determine which will be best for you and your family.

Where you live will be a huge driver of your overall childcare costs. Annual childcare costs range from $13,802 in Illinois to $22,913 in Massachusetts. But it's not all bad for your pocket. The IRS chips in to help keep costs at a manageable level by offering various tax credits to eligible recipients.

Once the baby is home, it will be necessary to periodically go for doctor visits to ensure that your baby is in good health. Additional items will need to be factored into your budget. These could include out-of-pocket expenses for things like immunizations and wellness checks every so often.

How to calculate baby costs in first year: Baby cost calculators

Calculating your first-year baby costs can seem overwhelming. However, a baby cost calculator can make it super easy to do. It covers pretty much every potential baby cost you might have.

Our favorite baby cost calculators

Here are a few baby calculators to pick from:

Other related baby costs in the first year

Other costs to consider that are not specifically baby costs but may be related to having a new baby include:

Once you know what your approximate costs will be, you can focus on adjusting your budget to achieve your savings goals. Be sure to check out our blog post on tips to save when you are expecting a baby.

Quick tips for successful budgeting your baby costs in the first year

So now that we've covered "how much does having a baby cost" you can start working on your budget. You may have had many false starts on your budgeting journey in the past, and that's totally ok!

However, when a baby is in the picture, you'll want to try your best to get on top of budgeting. This is so you can keep working towards your financial goals.

The best way to start is by going back to the basics.

Ensure you have a solid emergency fund

You'll always want to be prepared for anything, including a baby. A solid way to do this is by having 3 to 6 months' worth of expenses in an emergency fund.

Ideally, if you don't have an emergency fund in place when you find out you're pregnant, you can start saving up. You can start with a goal of $1,000 and build your emergency cash up from there. You won't regret it!

Be sure to check out our list of best jobs for pregnant women too!

Try to live on one income

If you come from a 2-income household, you and your spouse may find it helpful to live off one income if you can. This will help you save intentionally as you grow your family.

In turn, you'll have more money to put toward savings, college funds, and other long-term goals. This also helps you learn how to live below your means and prevent severe financial hardships if you or your spouse becomes unemployed.

Be a savvy shopper

With all the added expense of a new baby, the best thing you can do is become a savvy shopper! Use coupons and cashback sites to save on groceries and other items. Another great way to save is to shop secondhand for items.

Babies grow fast so buying clothing preowned can significantly cut costs. Also, check around for preowned toys or other items you may be able to use. These are excellent ways you can save money as a new mom!

You can cover your baby costs in the first year by planning ahead!

Now you have an idea of baby costs in the first year and the monthly expenses to expect. The best thing you can do for your family is to prepare and budget accordingly.

But also remember, parenting is a gift that is meant to be enjoyed (not endured)! Make the most of it. If you mess up from time to time, know that it's ok. We have a great list of advice for new moms you can check out as well.

You may be navigating this chapter for the first time or for the fifth time, but remember that each time will be different. Know that you're a worthy parent, you're doing your best, and you're making your baby proud! The key is to practice healthy financial habits that will set up the next generation for success!

Learn how to create a new baby budget with our completely free budgeting course! For more fantastic financial tips, tune in to the Clever Girls Know podcast and YouTube channel!

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Life And Money Tips For Moms With Two Under Two https://www.clevergirlfinance.com/tips-for-moms-with-two-under-two/ Sun, 19 Sep 2021 13:27:30 +0000 https://www.clevergirlfinance.com/?p=14114 […]

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Two under two

The life of a mom is one of many emotions. One minute you feel like your heart might burst out of your chest with love, and the next, you’re feeling so overwhelmed that you can’t breathe. Such is the life of a mom with two under two or two young kids close in age.

While life can feel incredibly difficult right now with a baby and a newly minted toddler, it gets easier. In the meantime, it’s important to focus on the benefits of having kids close together and the steps you can take to make sure you get through it with your sanity intact.

Let's explore this in more detail below, starting with the struggles moms face.

Challenges for moms with two under two

There’s no denying moms with 2 under 2 have it hard. You have two extremely needy children you need to care for 24/7. Neither one can attempt independence or even knows what the word means yet.

While every family is different, here are some common challenges moms with two littles face.

Competing needs

Your toddler is just barely a toddler and is used to having 100% of your attention. Suddenly there’s a new baby in the mix, and your toddler must share your attention. This may or may not sit well with your oldest. You may find he/she competes for your attention by acting like the baby.

You may see your toddler crying more or acting out. Even on a good day, your toddler needs you just as much as your baby. They may be on different nap and eating schedules or need to be held just as much as one another. This would also apply to having twins. It can be downright exhausting.

Guilt

Going from one child to two can be emotional. The energy you poured into your toddler, you need to share with your new baby, not to mention your husband and other people in your life. It’s easy to let guilt take over you as you try to split yourself into enough pieces to keep everyone happy.

Exhaustion from having two under two

Sleep may feel like a thing of the past when you have 2 under 2. Just as you got your toddler to sleep through the night, you brought a new baby home. If they are on different sleep schedules and alternate who wakes you up throughout the night, you may feel sleep-deprived and exhausted.

Even if you sleep through the night, the energy required to run around and keep up with two under two is crazy high and something not every mom has. The mom funk is real.

Getting out of the house

It can feel like you’re packing for a week-long trip trying to leave the house with two littles. Diapers, formula, toys, snacks, change of clothes, and blankets are just a few of the items likely stuffed in the diaper bag.

Just when you think you’re ready to go, you pick up the baby, and he/she needs to be changed, then the toddler has a crying fit and doesn’t want to leave any longer. It can feel like a circus act sometimes. You’ll wonder if you’ll ever be able to go to the store or even visit your family again.

Tension with your partner

If you aren’t on the same page as your partner, it could be because they don’t understand the strain of raising 2 under 2. If your partner is at work all day, they don’t see the energy, work, and stress that goes into keeping the two little ones safe, healthy, and happy.

Partners sometimes feel robbed of time with you too. Even when you have alone time, you may feel too exhausted to utter a few words, let alone have a date night or spend quality time together.

Benefits for moms with two under two

It’s stressful to have two under two, there’s no doubt about it, but there are also incredible benefits that can’t be replaced.

Close sibling relationship

There’s nothing better than a close sibling relationship. Once your littles enter elementary school age, they’ll have formed an undeniable bond from spending so much time together.

Being close in age also allows them to have more in common with one another than if there were several years between the two.

Tough stages are over more quickly

Having 2 under 2 is like ripping the Band-Aid off fast. You get through the ‘worst’ times at once. The first couple of years feel like a whirlwind, and you’ll feel like you’ll never get through them, but then all of a sudden, there’s a light at the end of the tunnel, and you’ll have an entirely new outlook.

Sharing a schedule

Once your baby gets through the newborn stage, you may find that your kids share a schedule. If you work with them closely enough, you can get them on the same nap and bedtime schedule, so you actually have some downtime for yourself and don’t feel like you have a child on your hip 24/7.

Helpful life and money tips for moms with two under two

Although there can be difficult moments when having 2 under 2 you can make your life easier with these simple life and money tips!

Set realistic expectations for your family

Don’t compare yourself to anyone else. It’s easy to look on Facebook, Instagram, or even at the park or library and think other families have it all together. They don’t trust me.

Focus on yourself and your family. Think about what your family can handle both financially and in life. Don’t over-commit yourself or compare yourself to others, thinking you must be as ‘great’ as them. Everyone has their strengths and weaknesses. Focus on the family within your four walls and do what’s right for you.

Don’t try to do it all

Put the word ‘no’ in your vocabulary and get comfortable with it. While you’re at it, put the words “I need help” in it too. You can’t do it all.

You aren’t Wonder Woman, and you shouldn’t try to be. There’s no prize for who does the most or stays up the longest. Focus on what you and your family need and be okay with asking for help.

Stick to your budget

Now is the most important time to create and use a budget. Babies and toddlers are expensive. Between diapers, formula, and clothes, any family could go broke. Set a realistic budget and figure out where you can cut back to cover the new expenses you’re experiencing.

Don’t forget, the older the child, the bigger the expenses, so preparing yourself now when they’re young will give you good practice for the future. Be sure to check out our tips on creating a baby budget and our budget-friendly list of essentials for babies and toddlers.

Take the help if offered when you have two under two

Family and friends will likely offer help - take it. Don’t be too proud and turn it down. If your mom offers to come to sit with the babies so you can take a nap, do it. This is so important especially if you are balancing it all as a single mom.

Does your friend offer to do your grocery shopping or cook for you? Let her. If you say no, not only do you hurt their feelings, but you keep the burden on yourself.

Get 1-on-1 time with each child

To ease your guilt and to get some quality time with each child, create a schedule that allows you to have one-on-one time with each child.

Whether you work it out with your partner, a parent, or friend, find ways to get even a couple of hours alone with each child. You’ll be glad you did. (Be sure to check out our list of positive affirmations for toddlers!)

Build a larger emergency fund

Life with two kids can get scary. With illnesses, injuries, and the unpredictableness of the world, it’s important to have a large emergency fund.

If you normally have an emergency fund with just three months of expenses in it, consider saving 6 to 12 months of expenses instead. The last thing you want is to be caught unprepared with two under two under your care.

Stay organized with two under two

Less is more when you have two small kids. Don’t assume they need everything you see. Stay organized by keeping a minimalist mindset.

Rotate toys, so you don’t have cluttered rooms, opt into electronic statements for your bills to avoid paper clutter, and set a schedule for the daily chores your house and family require.

Have spare snacks and games up your sleeve

Treat your diaper bag like the emergency fund for your kids. Plan for the worst - being stuck in traffic, waiting an extended amount of time at the doctor, or melting down in the grocery store.

Always have snacks and fun games ready. Think of simple ways to entertain, aka distract your children during tough times. It will be easier for everyone.

Practice self-care and time with your partner

Don’t lose yourself in this process. Yes, you are a mom, but you are also a person with needs, and your partner is too. Take care of yourself by giving yourself at least a few minutes of alone time each day. 

Make a list of your priorities and schedule time to work them in. Even simple things like time for a bath by yourself, time to read, or go for a massage are important.

Continue prioritizing your money goals

Throughout the craziness of raising two under two, don’t forget about your money goals. It’s more important than ever to make sure you’re saving money, cutting back on expenses, and prioritizing your future goals.

As your kids grow, they’ll have larger needs, not to mention money for college or any other expenses you and your partner decide to cover for them. You can check out our favorite money savings mom blogs for ideas.

You can be savvy and organized with two under two!

Having 2 under 2 has its challenges, but it has its blessings too. Whether you planned it that way or it just happened, the key is to be as prepared as possible for your future.

Get organized at home, with your schedule, and your finances so you can enjoy the time with your kids because, believe me, it goes fast.

Get help for your finances with our completely free courses and worksheets! Also, tune in to the Clever Girls Know podcast and YouTube channel for great mom tips on saving money and building wealth!

The post Life And Money Tips For Moms With Two Under Two appeared first on Clever Girl Finance.

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30 Money Savings Ideas For Moms On A Budget https://www.clevergirlfinance.com/moms-on-a-budget-savings-ideas/ Tue, 17 Aug 2021 02:10:54 +0000 https://www.clevergirlfinance.com/?p=13264 […]

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Moms on a budget

If you’re like most moms on a budget, you like to know where your money is going each month. You don’t have unlimited financial resources to meet your obligations. Most of us have to follow some sort of a budget, whether it’s down to the penny or by tracking categories loosely. So how can moms on a budget save money?

Fortunately, for most things we spend money on, there’s a wide spectrum of costs associated with those things. Gone are the days when the store brand of breakfast cereal tasted like cardboard or the generic version of medications didn’t cut it.

Whether you have one, two under two, or multiple kids, here are some great ideas to help moms on a budget save money each day! You can also check out our favorite money-minded mom blogs too!

Top 30 savings tips for moms on a budget

Whether it’s finding cheaper kinds of entertainment for you (and your kids), cutting down your grocery bills, or energy-saving suggestions for your home, you’ll probably find more than a few of these ideas that’ll work for you.

1. Meal plan

Ask anyone one of the quickest ways to lower your grocery bills, and they’ll probably bring up the idea of meal planning. I admit I’m not great at this myself. But I definitely notice my food shopping getting more out of hand when I haven’t thought ahead for the week’s meals.

Even if basic ingredients and food items increase in price, you can keep your grocery costs in check by planning most of your menus in advance. There are plenty of meal-planning apps like Mealime and Paprika to choose from. Also, many have very good free versions, so you don’t need to spend any money.

Creating your shopping list from a meal plan can help you to avoid buying unnecessary items, which saves money for other financial priorities.

2. Shop online for groceries

It’s so easy to overbuy on groceries without a list. But even armed with a list, going physically into the supermarket might lead you to put a lot more in your cart than you’d planned. Sure, you might use some of those impulse purchases anyway, but I bet a few of them will be wasted money.

My family has always used a free online grocery pickup service, and we still love this method. I save my most frequent purchases in my account on the store website, which makes reordering staples a breeze. Shopping online can help you avoid the issue of wandering the aisles at the grocery store and seeing those attractive displays designed to catch your eye.

Of course, you still need to be careful about impulse purchases when shopping online, but it can definitely help reduce those if you do it right! If you have awesome self-control and can stick to your list while shopping in person, great!

But maybe you’re like me and have a much easier time following the grocery list by shopping online. Plus, you get to skip the in-store crowds!

3. Plan for snacks

Just like you do with meal planning, always be prepared for when the munchies will strike. Whether for you or your kids, it’s a good idea to keep a few non-perishable snacks on hand. For example, in your purse or glove compartment.

Anytime you travel, even if it’s just a short distance, convenient snacks can help you avoid sudden drive-thru stops for greasy fast food. Filling your reusable water bottle at home can save you a ton on bottled water when you’re on the go.

4. Use coupons and cash-back apps

Good old coupons are still alive and well, helping moms on a budget everywhere. You can find coupons online nowadays, or even cut them out of the newspaper like you used to do. Try Groupon for discounts on activities and events.

Cashback apps are another way to save money (technically, to get it returned to you). Ibotta and Rakuten are a couple of the best-known cash-back programs that can reward you with real money for spending on a variety of things you need to buy anyway.

5. Cook and eat at home

Most moms on a budget already know that cooking and eating most of your meals at home can save huge amounts of money. Restaurant dining is almost always more expensive than dining at home, even if you buy the highest-quality ingredients. I know my family enjoys a meal out now and then, but we keep it infrequent enough that we still see that as a treat.

It’s not our everyday habit. We also try to pack a picnic for daylong excursions. This both saves us money and helps us appreciate special restaurant occasions all the more! (Plus, it’s often healthier food than our typical restaurant choices would be.)

6. Use a large freezer

If you have one (and the space for it), an extra freezer has money-saving potential for moms on a budget. This makes it easier if you notice a certain item at a low sale price and want to stock up. You can freeze foods you buy at a discount.

Plus, a chest freezer can enable you to prepare freezer meals in advance. This will help you avoid takeout on those hurried school nights.

7. Shop thrift stores

Thrift stores, garage sales, Buy Nothing groups, and Facebook Marketplace are a few of the ways to save money and help you stay on budget. Whenever you or others in your family need new clothes, these are awesome places to try first.

You can still buy new items sometimes, but using these more frugal options will save you a lot of cash. Plus, thrifting can be a fun activity in itself!

8. Buy high-quality items

This is a tricky one. For some items of clothing and other things, you may actually be able to keep more money in your pocket by spending more up-front. However, try to avoid the trap of thinking everything you buy should be the best because you think it’ll last forever. The same goes for higher price points - they don't necessarily indicate higher quality.

Certain products and clothing items may be somewhat timeless, like a black dress you can wear for any occasion. But trendy items that you might not use in a year or two, you don’t need to spend a fortune to buy.

9. Try a clothes-buying ban

Frustrated with how many clothes are bursting out of your dresser and closet? After purging what you don’t need, why not try a clothes-buying ban? For three months, six months, or even a year, the decision to stop buying new clothing could save you a bunch.

Maybe you’re majorly into clothing and fashion, and this type of rule sounds stifling. But a temporary pause on clothing purchases or another no-spend challenge could provide many benefits. You might reset your priorities, appreciate the clothes you already have, and of course, save money.

10. Set a budget for non-essentials

For clothing and any other items that you don’t actually need to buy regularly, you can make that a line item in your budget. That’s the beauty of budgeting: it can help you feel you have the freedom to shop as long as you stay within your parameters. The beauty of budgeting for your luxuries is that it’s totally personalized.

You don’t need to feel guilty about spending money you’ve earmarked for the things you love. After all, moms on a budget still need to have fun and enjoy things that cost money once in a while! But having a budget for whatever matters most to you keeps you financially secure.

11. Enjoy free activities

When it comes to entertainment, spending $100 on concert tickets is unnecessary. Maybe that's in your budget, but if you look around, you’ll probably find dozens of free activities in your town or community. The Chamber of Commerce, parks and recreation department, and other local organizations are great places to start finding free stuff to do.

Concerts in the park, trail hikes, and free admission days at local museums and attractions are often available. If you’re used to spending money every weekend on fun things to do on your own or with your family, look around. You’ll see there is no shortage of free fun to enjoy.

12. Cut your subscriptions

How much are you really using your Netflix subscription? Or any of the other on-demand streaming services that people can choose from these days? You might actually get a ton of use from Disney+ or other subscription services, but even then, you can try going without them to save money. 

Most of these services are easy to cancel or just suspend temporarily, so you can always restart in a few months if you find your family missing them. It’s also possible you’ll discover you spend more time doing other fun family night activities without all the screen distractions.

13. Use your library

The library is truly a magical place. I’m serious. There are thousands of books, audiobooks, magazines, movies, video games, and activities available at the public library at no cost to you. Whether you take advantage of kids’ movie afternoons in the library or simply check out books and movies to your heart’s content, the library is a huge money-saver for moms on a budget.

Of course, support your favorite authors whenever buying their books fits into the budget. But it would be a shame to miss out on the huge amount of free knowledge available through your library. Books are essential whether it's for self-improvement or just for fun.

14. Get into nature

Nature offers endless ways to keep moms on a budget (and their kids) busy and active. Biking, hiking, and walking are very accessible just about anywhere. Plus, there are research-proven benefits of spending time in natural green spaces. It can reduce the risk of stress-related issues, like cardiovascular disease, diabetes, chronic pain, and obesity.

15. Buy used cars

For moms on a budget, driving used cars is one big way to save money. Since brand-new cars depreciate so quickly (Carfax reports that most lose 20% of their value in the first year), it stands to reason that buying cars that are a few years old can save you thousands of dollars.

You can check Consumer Reports or the National Highway Traffic Safety Administration for ratings on the safest used vehicles so that you won’t stress about that aspect.

16. Stay close to home

This tip can apply to your vacations and longer trips. Staying closer to home helps moms on a budget maximize their funds. Instead of flying, see whether you can drive. Instead of driving eight hours away, try to find a great place within an hour or two of your home.

Reducing the distance, you drive will save you not only the cost of fuel but also reduce wear and tear on your vehicle, helping you to stretch out the life of your car.

17. Batch driving trips

Another way to reduce your transportation expenses is to batch errands and short driving trips. Instead of driving into town multiple times per day or week, try your hand at planning your weekly errands.

If you live ten miles from most places you frequent, and you make that trip five times a week, that’s 100 miles round-trip for the week. So by planning in advance to reduce your trips down to just one or two, you’ll reduce mileage, time, and cost.

18. Cancel the gym membership

Is taking care of your physical health essential? Absolutely! And if there’s really no alternative for you, the gym may be a worthy expense.

However, consider how much you’re using your membership and whether the gym is really the best use of your funds. Gym memberships just aren't always necessary or worth the money.

Moms on a budget can get plenty of great workouts for free simply by being a bit creative. For example, exercising outdoors could be a great option. Walking, cycling or running can fit just about any budget.

19. Discover YouTube for fitness

YouTube is a treasure trove of free exercise videos for everyone. I’ve never taken an in-studio yoga class, but I’ve done hundreds of yoga practices from home via my favorite YouTube pal's channel.

While some of us really come alive in a public gym setting, plenty of us thrive when we can squeeze in a workout from the convenience of home - for free!

You might also find an online personal trainer for a reasonable fee if you’re someone who needs the encouragement of another person to help reach your fitness goals.

20. Use health and fitness employer benefits

Maybe you work for an employer that offers discounts on gym memberships or even has a gym on-site. Moms on a budget, if you’re not taking advantage of the health benefits your employer offers, why not start now?

Gym memberships can be expensive, but if you’re fortunate enough to work somewhere that cares about your health, that’s a great perk to enjoy.

21. Buy used exercise equipment

Exercise equipment can be a wonderful thing to buy used or refurbished. Check up on the safety of older items like treadmills or ellipticals, of course. Try Craigslist, Facebook Marketplace, and yard sales when you want to purchase exercise equipment.

Dumbbells, exercise bands, and fitness equipment may be available at massive discounts if you’re patient (and have a bit of luck).

22. Set your thermostat lower or higher

Keeping your home closer to the actual temperature lowers your utility bills for sure. This may require a period of adjustment (and possibly changing the way you dress at home), but the savings are worth it.

Moms on a budget can save by turning the thermostat a few degrees cooler in the winter and a few degrees warmer in the summer.

To give you an idea of your potential savings, the Department of Energy estimates you can save up to 10% annually on heating and cooling by adjusting your thermostat setting by 7-10 degrees Fahrenheit for 8 hours each day.

23. Maintain your appliances

Spending a bit of time and possibly money each year on the upkeep of major appliances and other equipment in your home will save money in the long run. Be sure to change air filters as recommended.

Also, have a professional perform regular maintenance checks on things like your HVAC system to ensure safety and maximum efficiency. Things work better and last longer when they're maintained properly.

24. Decrease appliance usage

Another utility bill reduction tactic is to use your electrical appliances less frequently or during off-peak hours. Be like Grandma and line-dry your laundry outdoors, if possible. Open windows to let air and light in when appropriate to help with circulation and/or temperature.

You can try running appliances such as the washing machine and dishwasher during less popular times of the day. Your electric company may break this down by peak hours, partial peak, and off-peak hours, so shoot for off-peak times when possible.

(If your appliance has a “delay” setting, this is a great way to use off-peak times. Set it for several hours in advance before going to bed, and it’ll run while you sleep and save you cash.)

25. Use a surge protector

Plug your electronics into a surge protector instead of directly into the wall outlet. This is meant to help protect your computer, phone, and other important electronic items from power surges that can cause damage. They may lower your electric bill, too, if you turn them off when not in use.

26. Set a gift budget

Holidays and special occasions can turn into highly fraught situations, especially if people disagree on the types and costs of gifts for the occasion. Try to set a gift spending budget for yourself in advance to make these situations more comfortable.

Having a gift budget, such as $20 per niece and nephew at the holidays, or $100 for wedding gifts, can help you stay on track. If family members or friends suggest a gift-giving tradition that might derail your budget, you may need to have a conversation about that.

Gift budgets can help a lot within your immediate family as well. Of course, most moms on a budget will also set a gift-giving budget for themselves and their kids. At a certain age, your kids might even appreciate knowing the amount of the gift budget. This can help develop their financial literacy skills as well.

27. Don’t give in to spending pressure

When people pressure you to spend money, remember your budget and your reasons for setting it up as you have. It’s not their finances, after all. If friends or family try to tempt you to buy something too expensive or something that isn’t a priority, stand your ground.

You may encounter some resistance when it affects other people. If you choose not to participate in secret office gift exchanges or refuse to share in extravagant group activity costs (such as for a bridal party), you may offend some people. But you might need to say no to prioritize your goals.

28. Seek out frugal friends

It’s also important to spend time with other budget-minded people who encourage you on your financial path. We tend to often imitate the people we are with the most. So it’s worthwhile to seek out other moms who manage their finances well.

That doesn’t mean shunning those who earn or spend more (or less!) than you. Simply be mindful of which friends help you move forward in your financial goals versus pulling you away from them. Frugal friends can create the right kind of peer pressure you need.

29. DIY whatever you can

Do-it-yourself videos and how-to articles are great resources when you need to avoid spending a lot of money. It’s empowering to figure out how to make something yourself, rather than taking the easy route of swiping your credit card. Decorations, simple furniture, greeting cards, gourmet desserts...there’s almost no limit to what you can learn to do or make on your own.

Don’t forget about car maintenance tasks, painting the kitchen cabinets, and all kinds of fixes around your home. Moms on a budget can use their skills (or learn new ones) to save a boatload of money.

30. Make do with what you have (Essential for moms on a budget)

A core principle of saving money is that you can often make do with what you have, rather than buying anything at all. Often this strategy is overlooked because it’s so simple!

Maybe you can go through the back of your closet to discover a long-forgotten outfit that’s perfect for a night out. Or you can upcycle some of your current clothing to save money too! Perhaps you love this new cooking gadget you notice on Instagram, but you really could get along fine with your current kitchen equipment.

Whatever the item you’re longing to buy, consider whether it’s a need or a want. Then, even when it’s technically a need, a quick home inventory could reveal that you already have something that’ll work fine.

The more I do this, the easier it becomes. The mindset of pausing before buying something, even if it’s from the dollar aisle at Target, becomes second nature, and I can stop buying stuff I don’t need.

These top tips will help moms on a budget

You may not have to use all of these money-saving ideas but even incorporating a few of them into your life could make a big difference. Moms on a budget don’t have to always sacrifice; in fact, many of these tips can help you find greater joy and contentment each day.

Learn more about frugal living and building wealth with our free financial courses and worksheets! For more great money tips, be sure to follow Clever Girl Finance on Instagram, YouTube, and Facebook!

The post 30 Money Savings Ideas For Moms On A Budget appeared first on Clever Girl Finance.

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Natural Fertility Treatments That Won’t Break the Bank https://www.clevergirlfinance.com/natural-fertility-treatments/ Thu, 19 Aug 2021 15:25:21 +0000 https://www.clevergirlfinance.com/?p=13299 […]

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Natural fertility treatments

Are you experiencing problems with getting pregnant? Perhaps you are trying to find natural fertility treatments that can help? You're certainly not alone. Millions of couples face trouble when it comes to having a baby. In fact, 10- 15% of couples are unable to achieve their dreams of starting a family.

The experience of infertility is hard emotionally and mentally. Plus fertility treatments can also put pressure on your wallet. Some treatments can cost tens of thousands of dollars. Fortunately, natural fertility treatments may increase your chances of starting a family in a cost-efficient way.

Before we get into how to increase ovulation naturally, let's dive into what can cause infertility first. Keep in mind, this is not medical advice and it's best to seek the professional guidance of a doctor.

What can impact your fertility?

Couples can face fertility issues for many reasons. Sometimes there are issues with one or both partners. There are many syndromes and health conditions that can affect both men's and women's fertility. The good news is natural fertility treatments may help.

Causes of fertility issues in women

Here are some of the most common issues women face:

Polycystic Ovarian Syndrome (POS)

PCOS or Polycystic Ovarian Syndrome is one of the leading causes of infertility in women. PCOS causes an increase in male hormones in women, which in turn reduces the frequency and regularity of ovulation. This condition gets its name from the cysts that form on the ovaries and is a disease that runs in families.

Endometriosis

Endometriosis occurs as a result of uterine tissue growth outside the uterus. This causes blockages within the female reproductive system and makes it hard for fertilized eggs to get to the uterus. Since tissue outside a woman’s uterus doesn’t shed like the tissue within the uterus, it can cause scarring, blockages, and painful adhesions.

Premature Menopause (POI)

Also known as premature menopause, POI can cause the ovaries to stop producing eggs and the necessary hormones to release and fertilize eggs. POI may cause infertility since it can cause menopause much earlier than age 40. If your period stops, your body doesn’t go through the necessary cycles to release eggs for fertilization.

Uterine fibroids

Uterine fibroids are non-cancerous growths in the uterus that can prevent the uterus from holding onto an embryo. These fibroids can be small enough that you can’t see them with the naked eye or they can be large and obtrusive. There are typically no symptoms, but they can make it harder to get pregnant.

Pelvic Inflammatory Disease (PID)

Pelvic Inflammatory Disease is an infection that occurs in female reproductive organs. It’s often caused by bacteria from an STD that spreads from the vagina to other reproductive organs. Many women aren’t aware they have PID until they try to get pregnant.

Causes of fertility issues in men

Men are not spared either when it comes to issues with fertility. In fact, 9% of men of reproductive age in the United States experience problems with fertility. Here are the top complications men face:

Sperm health and production

Sperm health and production is the number one cause of male infertility. For pregnancy to occur, the sperm must be healthy, have the correct speed, and even shape. If the sperm isn’t in optimal shape or in optimal quantities, it can be harder to get a female pregnant, especially if the woman has any reproductive issues too.

Hormone levels

Male hormone levels are just as important as women’s hormone levels for pregnancy to occur. Too much or too little testosterone can interrupt the process. Men need a perfect balance of hormones from the pituitary gland for there to be an adequate amount and good quality of sperm.

Varicocele

Varicocele causes the testicular veins to swell, and decreases the amount of healthy sperm that leaves the body. Varicoceles are like varicose veins in the leg. They can cause decreased sperm count or poor quality sperm.

Ejaculatory problems

Premature, delayed, or no ejaculation makes it difficult for a man to impregnate a woman. It can cause anxiety with sex or a decreased sex drive. It can also cause stress and depression, which are leading causes of male infertility.

Drug and alcohol abuse

A man's body needs proper nutrients to produce the adequate quality and amount of sperm. Drug or alcohol abuse can decrease the amount and quality of sperm produced as well as impact hormone levels.

Depression

Depression affects the body in many ways. For men, this includes ejaculatory problems, low libido, or hormone fluctuations. All of this can disrupt a sperm’s quality. It can also cause a person not to eat right or to eat too much.

Without the right nutrients and the body’s optimal performance, infertility can occur. On a positive note, natural fertility treatments such as diet, exercise, and supplements can help when it comes to depression.

Stress

Stress, like depression, can have ill effects on the body. It can decrease sperm count, disrupt hormone production, or lower a man’s libido. Stress can also cause the body to act in weird ways. For instance, it can inhibit its ability to have adequate vitamin and nutrient levels. This in turn can lead to lower quality sperm.

Obesity

Obesity can lower testosterone levels and decrease sperm quality, which makes it difficult to get pregnant. The higher a man’s body mass index is, the lower the quality of sperm he will produce. Poor quality sperm can make getting pregnant difficult. Also, if a woman does get pregnant, it may result in a miscarriage.

Autoimmune diseases

Certain chronic or life-threatening autoimmune conditions can also cause infertility. If one part of the body isn’t functioning correctly, it can affect other systems, including the reproductive system. These issues can affect both men and women.

Why natural fertility treatments can help

If you noticed any commonalities above, it’s that hormones get unbalanced, which can cause infertility. That said, natural fertility treatments may help. While they can’t solve every issue, they increase your chances of pregnancy.

If nothing else, you’ll get your body in optimal shape to get pregnant. This will definitely help if you need medical intervention. The better shape your body is in, the higher your chances of a successful pregnancy.

Any couple can try natural fertility treatments before they spend a ton of money on doctor’s visits and invasive options. Don’t forget that you will need quite a bit of money once you have your baby!

How to increase ovulation naturally: 6 Natural fertility treatments you can try

The good news is there are some natural fertility treatments you can try to increase ovulation naturally. Here are 6 healthy ways to get started:

1. Eat right (One of the best natural fertility treatments)

Eating right is essential to increase ovulation naturally. It improves your health and may increase fertility for men and women. Here are the top dietary habits you can include in your daily routine:

Enjoy a healthy big breakfast

Eating a big breakfast mainly helps women with polycystic ovary syndrome. Since PCOS affects your insulin levels, getting most of your calories in the morning can help lower insulin and testosterone levels, both of which are necessary for healthy ovulation.

Eat antioxidant-rich foods

Folate and zinc are important for men and women. If you’re trying natural fertility treatments, make sure women get enough folate to increase the chance of implantation and men get enough zinc for healthy sperm count and quality.

Avoid trans fats

Trans fats (unhealthy fats) can interrupt the ovulation cycle if overeaten. Instead, incorporate healthy fats into your diet (avocado, olive oil, etc.). One of the easiest ways to include these is to try a Mediterranean-style diet. It's not only healthy but super tasty too!

Watch your carbs

If you have PCOS, watching your carbs is vital to your insulin levels. Try a low-carb diet and focus instead on healthy fruits, vegetables, and a few healthy whole grains. Another thing to keep in mind is that not all low-carb diets are equal. So, it's good to do some research and see what will be best for your body and needs.

Eat high-fat dairy products

We’re all programmed to look for low-fat products, but they often contain chemicals our body doesn’t like. Replace low-fat dairy products with a couple of high-fat dairy products a day to increase your chance of conceiving.

However, some conditions like PCOS may suggest you eat dairy with no added hormones or even cut it out completely.

Switch up your protein sources

Switch up your proteins to increase your chances of getting pregnant. You don’t have to go vegetarian, but a couple of meat-free days replaced with beans, nuts, and seeds can help. Cut out meat. This can also help you save money on food. So, it’s a win-win.

Increase your fiber intake

If you have unbalanced hormones, increase your fiber intake because this can help rid your body of unnecessary hormones. When you Increase your fiber intake, it makes it easier to ovulate and/or produce healthy sperm.

Cut down on caffeine

The opinion on caffeine and fertility is mixed, but putting limits on your caffeine intake to one to 2 cups a day can’t hurt your chances of getting pregnant. So, instead of coffee, consider green tea - it has some caffeine and plenty of antioxidants. Another option that's tasty and caffeine-free is sparkling water or juice.

Avoid alcohol

Another important step if you’re trying to get pregnant is to limit your alcohol intake. It may help increase your chances, and it will allow your overall body to be healthier, increasing your chances of a full-term baby.

2. Exercise

Exercise is good for the mind, body, and soul. Regular exercise, whether moderate cardio, weights, yoga, or walks around the block, can decrease stress levels, increase your mood, help you sleep better, and increase your libido.

You want to be as healthy as possible in both mind and body, and exercise is a great way to help. If you need some help to get motivated, you can also find an online trainer to keep you going on those days when you're not in the mood.

3. Maintain a healthy weight

Keeping a healthy weight is the best way to increase your chances of pregnancy. So, if you’re wondering how to increase ovulation naturally or how to produce healthier sperm, it starts with your weight.

If you’re mildly overweight or obese, consider working with a nutritionist or create your own plan to eat healthily. Also plan to exercise, and decrease your body weight to create the optimal environment for a pregnancy.

4. Improve your sleep quality

Quality sleep is essential because your body naturally resets each night while you sleep. If you pull all-nighters, toss and turn all night, or only get a few hours of rest, your body can’t function properly. Also, if it becomes a chronic problem, your hormone levels could get unbalanced, causing difficulties getting pregnant.

Studies showed that women on IVF treatments were 25% more successful in conceiving when they got 7-8 hours of sleep a night. Getting quality sleep is one of the simplest natural fertility treatments you can start.

5. Take vitamins

These days it's tough to get the nutrients we need from food. So, vitamins are key natural fertility treatments to include in your health routine. Here are the best vitamins you can start to help increase fertility:

Multivitamins

Multivitamins help your body have all the nutrients necessary for optimal production. This includes creating a welcoming environment for a baby. Take a multivitamin daily to ensure you get adequate nutrients to increase your chances of getting pregnant.

Prenatal

Prenatal vitamins contain the necessary levels of folate women need for optimal ovulation. They also include other nutrients to care for the fetus properly. They can be taken before you get pregnant to prepare your body.

Folate

If you’re low on folate, consider a supplement. Folate helps increase healthy ovulation and helps prevent birth defects. It may also help increase the chances of implantation (decreased risk of miscarriage).

Iron

If you wonder how to increase ovulation naturally, look at your iron levels. If you’re iron deficient, talk to your doctor about iron supplements to help promote healthy ovulation.

Natural fertility supplements

Specific supplements may help create the perfect environment for a pregnancy. There are plenty of options to help increase your chances of getting pregnant. However, be sure to talk to your doctor before taking any natural herbs or supplements

6. Reduce stress

Stress can wreak havoc on your health and fertility. Prolonged stress causes your body to produce too much cortisol, which can result in fertility issues. But you can reduce stress by including the following activities in your plan:

Yoga

Yoga may help decrease your stress levels which in turn helps regulate hormone production. It is one of the best natural fertility treatments anyone can do. Try yoga at home or take a class near you to incorporate it into your schedule.

Meditation

Meditation is another way to decrease stress levels. Center your mind and shut out the outside noise that makes it hard to take care of your own mind, body, and soul. Meditation can also help you improve sleep quality, which will boost mood and improve fertility.

Counseling

Infertility itself can be stressful and depressing. If you need to, seek counseling to learn how to manage your stress levels. This may naturally help increase your chances of conceiving. Thanks to sites like BetterHelp, you can speak to someone online, which makes it easier for busy people or those who find it difficult to ask for help.

Acupuncture

Acupuncture may help both men and women, creating a healthy ovulation cycle and healthy sperm. An acupuncturist can determine what inefficiencies you have in any part of your body. Their assessment goes beyond your reproductive organs and can help to create a healthy environment overall for a baby.

Try these budget-friendly natural fertility treatments

Infertility can be stressful and heartbreaking, and the cost of fertility treatments can send your anxiety levels even higher. Fortunately, you can try these natural fertility treatments before you spend a ton on traditional treatments. Keep a hopeful spirit, and don't give up!

Since you're trying to add to your family, it's important to prepare your finances this would also include life insurance during your pregnancy. You can learn how to create a family budget, invest for your future, and build generational wealth with our completely free courses and worksheets!

Also, be sure to follow Clever Girl Finance on YouTube, Facebook, and Instagram for money motivation and tips!

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Freezing Your Eggs: What It Costs And How To Plan https://www.clevergirlfinance.com/freezing-your-eggs/ Sun, 15 Aug 2021 14:08:18 +0000 https://www.clevergirlfinance.com/?p=13232 […]

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Freezing your eggs

The decision to freeze your eggs comes with much thought and consideration for your future plans. One part of this major life decision is determining how to fund this endeavor. Let’s take a closer look at the cost of freezing your eggs and how to save for this hefty purchase.

Why do women freeze their eggs?

The decision to freeze their eggs has grown in popularity in recent years. According to the Society for Assisted Reproductive Technology, only 475 chose to freeze their eggs in 2009. But just nine years later, in 2018, 13,275 women chose this option.

So why do women freeze their eggs? Of course, this highly personal decision comes with many difficult reasons. But the end result of freezing an egg is that it provides an extended option to possibly get pregnant later in life.

With that in mind, women who choose this path may want kids later but not right now. The choice allows for more breathing room to find the right partner.

Beyond finding the right partner, it allows for a different focus in their current phase of life. For example, a woman may choose to freeze her eggs to focus on her career at a pivotal moment without risking her dreams of having children.

Other reasons may include a desire you preserve younger eggs to use in the future to boost your chances of getting pregnant later. Or choosing to freeze your eggs while undergoing treatment for an illness such as cancer to prevent negative consequences for your fertility.

What are the options for freezing your eggs?

If a woman chooses to freeze her eggs, the process involves several steps. The first step is to take synthetic hormones which are intended to stimulate your ovaries. The goal of these hormones is to encourage the production of multiple eggs instead of a single egg in one month.

Throughout this treatment process, you’ll have regular visits with your doctor to monitor your progress through blood tests and ultrasounds. When the doctor determines you are ready, it will be time to begin the egg retrieval process. Your eggs will be retrieved through a procedure at your doctor’s office.

Once the eggs are retrieved, it is time to freeze the unfertilized eggs via a vitrification process.  From that point, your eggs will be frozen indefinitely. You will walk away from the process with a distinct possibility of becoming a genetic parent.

However, it is possible that an unfertilized frozen egg will not result in a pregnancy. As you can see, the process is very involved. It is important to decide if you are physically up for the challenge. Plus, weigh the emotional risks because a frozen unfertilized egg does not guarantee a successful pregnancy.

Now that you know your options let's get into how much to freeze your eggs.

How much does it cost to freeze eggs?

Now that you know a bit more about the process, it is time to consider the financial costs. Freezing eggs costs can add up quickly. So, exactly how much does it cost to freeze eggs?

According to Fertility IQ, the average patient will spend $30,000 to $40,000. Importantly, there are multiple costs to consider when freezing your eggs. I’ve broken down the estimated costs into three distinct segments.

1. Cost of freezing your eggs

First, the most obvious cost of freezing your eggs is the actual procedure. Within this cost, you may encounter bills from the fertility clinic and pharmacy costs for the medication. Additionally, you may choose to undergo the procedure several times to increase your chances of a successful live birth in the future.

In general, you should expect to pay approximately $11,000 for the actual procedure of retrieving your eggs. Plus, the medications leading up to the procedure will likely cost around $5,000.

Although the average cost for a single egg-freezing cycle is $15,991, the costs can vary based on the area. For example, you may pay closer to $17,550 in New Jersey but only $13,800 in Boston.

Since many patients may undergo the process more than once, you may be spending closer to $30,000 on the egg retrieval process.

2. Storage costs

Once they obtain the eggs, proper storage is critical. You can expect to spend around $2,000 for the first five years of storage. If you want to continue storing the egg, you will need to continue paying for its security which typically amounts to around $500 per year. This is not a cost that can be skipped as appropriate storage is necessary.

3. Frozen egg IVF

When you decide that it is time to bring your eggs out to storage to create a possible pregnancy, there will be another round of costs. The procedure to transfer your frozen embryo will likely cost between $3,000 to $5,000. That’s another cost to consider in your budget as you prepare to move forward.

So, how much to freeze your eggs? Well as you see it has many factors and involved processes. However, you can break these costs down by each stage and build them into your budget.

Does insurance cover the cost of freezing your eggs?

Unfortunately many insurance companies today do not cover the full cost of freezing your eggs. This is because freezing your eggs is not typically deemed medically necessary. However, there are portions of the process that your health insurance provider may cover.

For instance, things like a fertility specialist consultation, diagnostic testing, or embryo storage may be covered. There are also specific medical situations that may allow for your egg freezing costs to be covered by insurance.

Today, many companies are now offering egg freezing as a benefit or additional insurance option. Be sure to take time to do your research and explore all available options.

How to save for freezing your eggs

So, now you know exactly what freezing eggs costs. If you’ve made the choice to pursue freezing your eggs, it is important to create a financial plan to cover this major expense.

Here are some strategies to help you save:

1. Make it a priority in your budget

Savings for a big purchase of any kind requires a budget that works for you. Take stock of what you are currently spending. Look for ways that you can cut back to set aside funds for this major life decision.

Although it may not be easy to make cuts to your budget in other areas, it may be worth the sacrifice. Want help creating a budget that works for you? I highly recommend taking our free budgeting course.

2. Set up a sinking fund

A sinking fund is a great way to set aside funds for any major purchase. Consider creating a sinking fund for the expenses associated with freezing your eggs.

Essentially, you can build a sinking fund by setting aside money each month. The goal is to save a little bit every month to cover this major future purchase. The expenses associated with this procedure present the perfect opportunity to use a sinking fund.

3. Try a side hustle

The challenge of saving for a major expense is that you still have to cover your other expenses. That’s when a side hustle can really come in handy. Consider tackling a side hustle to help you temporarily increase your income and stash that cash.

Luckily, there is no shortage of side hustle opportunities. Need help starting your new side hustle? You can learn more about your side hustle options in our founder’s latest book - Side Hustle Guide for Women.

Make a financial plan if freezing your eggs is best for you

Freezing your eggs can open the door to potential future pregnancies. The possibilities are exciting. But the prospect of paying for this procedure can be a challenge.

Take some time to build a financial plan to help you tackle this major decision. This way you aren't going into debt to achieve your dream of having a baby later on in life.

Start creating your financial plan and goals with our completely free courses and worksheets! Also, don't forget to follow Clever Girl Finance on Instagram, Facebook, and YouTube for top financial tips and motivation to reach your money goals!

The post Freezing Your Eggs: What It Costs And How To Plan appeared first on Clever Girl Finance.

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Should I Have Another Baby? Weighing The Costs https://www.clevergirlfinance.com/should-i-have-another-baby/ Sat, 08 May 2021 14:47:58 +0000 https://www.clevergirlfinance.com/?p=11520 […]

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Should I have another baby

Has the question "Should I have another baby?" crossed your mind? Many parents eventually find themselves faced with the decision of whether to have another baby, or whether their family is complete. It can be a difficult decision for many, often fueled by a variety of factors from emotions to logistics.

But preparing for a baby is also largely a financial decision. In fact, many people rely on their financial situation as the determining factor in starting a family and also in expanding their family. In this article, we’ll share a few questions to ask yourself when weighing the costs of another baby.

The cost of raising a child

Data shows that the average cost to raise a child is approximately $310,605. This number factors in all of the necessities to raise a child, such as food, shelter, and transportation, but it doesn’t factor in the cost of college.

Obviously, these numbers aren’t concrete. Some parts of the country have significantly higher costs of living than others. Additionally, some families live more frugally than others, either by choice or necessity.

The cost of raising each child also decreases with the number of children you have. For example, a family with two children spends 27% less per child than a family with just one child. A family with three children spends 24% less per child than a family with two children, and so on.

Should I have another baby? Weighing the costs

Here are some costs to weigh as you consider having a second baby (Be sure to check out our tips on how to create a baby budget):

Childcare

Childcare often faces the greatest burden for families because it’s the largest new expense that comes with raising a child, making up an average of 16% of the cost of raising a child.

Sure, you have to provide food and housing, but you were already spending money on those things. Childcare, on the other hand, is an entirely new and very large line item in your budget.

The average full-time childcare center for an infant costs about $16,200 per year. And while many centers offer discounts for multiple children, the cost is still significantly more when you add another child to the mix.

When deciding whether to have another baby, ask yourself whether you can afford childcare costs for another child. If not, can you or your spouse afford to leave your job to stay home with children while they’re young, and childcare costs are most expensive?

If your children will be close in age (for instance having two under two), you might find yourself with costs back to back. Are you prepared for this?

Housing

Housing makes up the largest line item in most family budgets and accounts for 29% of the total cost of raising a child. For many families, housing isn’t a factor when it comes to adding another child to your family. If you have plenty of space in your current home, you may not face any additional costs at all.

However, for some families, another baby may eventually mean having to upgrade the family home, which is likely to result in higher housing expenses.

Food

When you add another child to your family, you can expect your food costs to increase, especially as the child gets older. The USDA data shows that food makes up about 18% of the cost of raising a child.

Food expenses can start immediately with the cost of baby formula. The U.S. Surgeon General estimates that formula for a baby’s first year can cost between $1,200 and $1,500.

Costs are likely to increase from there. The USDA publishes food plans that share the cost of food at home at four levels ranging from moderate to thrifty. Even on the moderate plan, the monthly cost of feeding a child ages 2 to 3 is $108. For the liberal plan, it’s $2.04.

By the time a child reaches age 14, a male child is likely to cost between $181.50 and $373.20 per month, while a female is likely to cost $172.40 to $319.10.

Transportation

Transportation makes up about 15% of the cost of raising a child. The first question to ask yourself when it comes to transportation is whether you’ll have to upgrade your vehicle when a new baby arrives. If so, that could present a significant upfront cost.

In the long run, you’ll have plenty of other transportation costs, including driving your child to school and various activities, upgrading vehicles to fit your family’s needs, ensuring your family vehicles, and possibly even covering vehicle, gas, and insurance costs when your child starts driving themselves.

Healthcare

Healthcare is one of the fastest-growing expenses that American families face. According to data from the Centers of Medicare & Medicaid Services, national healthcare spending in 2019 was roughly $11.582 per person. By adding another child to your family, you can expect your healthcare costs to increase as well.

But in addition to the annual cost of healthcare, there are, of course, plenty of upfront costs to account for. You’ll have the cost of your prenatal care and childbirth, as well as the baby’s immediate healthcare costs.

You may incur other costs to get pregnant as well. The cost of fertility treatments could run you tens of thousands of dollars. Cost may include hormones and treatments, freezing your eggs, embryo storage, embryo transfers, and more.

Other child expenses

There are plenty of expenses that come up during their young lives. In the baby years, you’ll have costs that include car seats, diapers, a crib and changing table, etc. In some cases, you may have furniture left from raising other children that you can reuse. But some expenses, such as diapers, you’ll incur either way.

These items may not be much in the grand scheme of raising a child, but can certainly add up in the early months and years. You’ll also have to buy clothing for your child. Again, with older children at home, you may be able to reuse some of what you already have to save costs.

Finally, many children will participate in activities including sports, music, theater, and more. These activities can also present a significant cost.

College

The USDA’s estimate of the cost of raising a child doesn’t include the cost of a college education. And unfortunately, those costs continue to increase.

Recent data shows that the average annual cost of attending a four-year public university is $25,864. Over the course of a four-year education, your child could easily spend more than $100,000.

As a parent, it’s not your responsibility to pay for your child’s college education, but many choose to do so. If you currently make contributions to a 529 plan or another college savings account for your child, consider whether you would be able to continue these contributions for another child.

Adding another child to the family may mean making financial sacrifices, including pausing college fund contributions.

Career

Everyone knows that raising a child is expensive. But the one cost that people often overlook is the cost to your career. Data consistently shows that women’s salaries take a hit after having a child. Women often take time off after birth. And in the United States, that time is largely unpaid.

But there are also long-term effects. Women often postpone career goals to focus on family, or even temporarily leave the workforce if the cost of childcare isn’t manageable.

Unfortunately, these setbacks have serious effects and don’t just impact a woman’s earning potential today. Instead, they can impact the trajectory of her earnings for her entire career.

Before having another child, it’s important to understand the impact it may have on your career, as well as talk to your partner about strategies you can take as a family to share the load.

Many women continue working while pregnant so be sure to check out our list of best jobs for pregnant women. 

Financial goals

Before having another child, consider the impact it would have on your other financial goals. Is your family currently saving for any major expenses that might be set aside with the cost of another child?

Maybe you and your spouse were planning to retire early or save for a dream lakehouse. Another child might mean postponing — or even sacrificing altogether — those goals. It would also be important to consider adding or updating your life insurance especially if get pregnant with another dependent on the way.

Consider the non-financial costs

There are many financial costs to consider when deciding whether or not to grow your family. Consider how another child would impact your family dynamic. What impact would it have on your marriage? How would it affect the child(ren) you currently have at home.

Another consideration is your own mental and physical health. Pregnancy and childbirth are physically taxing on women, and there’s no doubt that parenthood can challenge one’s mental health at times. It’s important to consider how it would affect all areas of your life.

Answering the question, "Should I have another baby?"

Many parents struggle with the decision of whether to have another baby. It could be that you’re feeling emotional about no longer having a baby at home, that you want a sibling for the child, or that your family doesn't quite feel complete.

Sharing these costs isn’t to argue against another child, but there’s no doubt that they bring with them a significant financial cost. Before bringing another child into your family, it’s important to weigh all the costs and consider how they would affect your lifestyle.

The post Should I Have Another Baby? Weighing The Costs appeared first on Clever Girl Finance.

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8 Ways To Create A Winning Single Mom Budget https://www.clevergirlfinance.com/single-mom-budget/ Sun, 18 Apr 2021 16:20:48 +0000 https://www.clevergirlfinance.com/?p=11341 […]

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Single mom budget

Being a single parent means you're solely responsible for your family finances. As the provider, it also means that things can get expensive. That's why it's essential you create a winning single mom budget so that you can keep a tight handle on your money.

When you're shouldering the financial burden alone, it's doubly necessary to properly plan out your finances so you can manage your expenses, take care of your children and still build wealth.

A one-income household being a single mom has its challenges, but it’s still possible to take control of your spending and plan for the future. It all starts with a budget.

Budgeting as a single mom

A budget is a plan for your money. While there are several budgeting methods to choose from, the idea is the same — plan where your money is going.

A winning single mom budget will help you avoid financial stress and have peace of mind instead. After tracking your expenses, you might find that you need to stop shopping to pay for other necessities or look at weekly ads to save money on groceries.

Figuring out how to budget with one income doesn’t have to be a hassle. You can even make it fun by trying a money-savings challenge to go along with your new budget. The key is finding the right budgeting method and ways to simplify your savings. Once your budget is all set, you can build in a line item to treat yourself as a busy mom!

8 ways to maximize your single mom budget

Here are eight ways to create a single mom budget that'll put you on the road to success.

1. Prioritize your expenses for yourself AND your children

When creating your budget, be sure to include your own expenses and those of your children. This is something many people forget to do. School activities, clothes, trips out, and weekend activities are all things for your kids that should be budgeted for. This way, you know exactly how to plan out your income each month.

For newly single moms, your budget should also take into account expenses that you’ll now be taking on. For example, will you need to pay for child care or health insurance? A sitter once a week? Are you paying insurance premiums? These are all things you will need to consider when budgeting as a single mom.

2. Build up your emergency fund to include your children

Your goal for your emergency fund should be to have three to six months of your basic living expenses  (i.e., housing, food, etc.) put away in the event of a true emergency, such as a job loss.

But when you have kids, you need to include their basic expenses as part of the amount you save in your emergency account. Keep in mind anything that they may need for school (i.e., tuition, textbooks, etc.) or other commitments. Building an emergency fund is a crucial part of budgeting as a single mom.

3. Find free, fun things to do

Kids' activities and outings can cost a lot of money. From paying entry fees at amusement parks and the zoo to buying foods and drinks, things can get really pricey. So why not take advantage of free activities to do with your kids?

Many museums offer free first Saturdays — you can pack a nice lunch and visit the museum for a completely free day. Your local library may offer free activities or events, too. Go on a picnic, take a hike outdoors or come up with other fun yet free things to do with your kids. If you need more inspiration, Pinterest has tons of ideas!

Here's are some additional money-saving tips for moms on a budget.

4. Put money aside to support long-term goals for yourself and your children

Be sure to include a line item in your budget that goes toward savings for your children. For instance, things like back-to-school shopping, future school trips, clubs, activities, etc., can really add up. And of course, don't forget about saving for college! It's all about planning ahead by putting money aside.

Don't forget to save money for your own long-term goals such as retirement, owning a home, starting a business, or traveling. No matter how little you're able to save, make it a goal to save something each month. Even the smallest amounts add up!

5. Automate your finances

The best thing you can do when budgeting as a single mom is to automate your finances. As a mom, you stay super busy, making it easy to pay bills late because you forgot.

Automating your finances can simplify your budget and your life because you set up your bills to be paid automatically. This will prevent you from paying bills late and racking up expensive late fees.

Call your providers and set up your bill due dates to the same dates you are paid. This way, you don't risk overdrawing your account. Remember to set up automatic transfers to your savings accounts too. Saving money automatically will bulk up your emergency fund fast.

6. Live a frugal lifestyle

There's no argument that money seems to spend faster than we can earn it, but by learning how to live a frugal lifestyle, you can stretch your single mom budget even further!

Things like ditching cable, having coffee at home, and buying in bulk can help you save a bundle of money. Buying clothes secondhand instead of new is a huge savor too, especially when it comes to back-to-school shopping.

There are a ton of crazy ways to save money that can help you live below your means and stick with your monthly budget.

7. Get out of debt

You're probably thinking, "how am I supposed to pay off debt as a single mom!" The truth is you can pay off your debt even if you live on a low income.

It's about cutting expenses where you can and applying that money to tackle your debt. This may seem difficult at first, but the faster you get out of debt, the quicker you will obtain financial freedom.

Debt is expensive and can rack up thousands of dollars in interest every year. That's money you could be saving for something much better, like a down payment on a house or a vacation!

So, when creating your budget, be sure to include a debt payoff plan, so you stop wasting money on debt.

8. Increase your income

If your budget is super tight even after cutting expenses, then it's time to find ways to increase your income. Increasing your income can take the stress of living paycheck to paycheck off of you because you will be earning much more than you're spending.

There are many ways you can increase your income. For starters, if you've been at your job for a while and are performing well, it may be time to ask for a raise. Research what the industry average pay is for your position with your experience to see how much you should ask for.

Another way to increase your income is to start a side hustle. This is perfect for single moms because, with many side hustles, you can create your own schedule and still earn a decent income. S

ome side hustles, such as virtual assisting, can earn you $10-$60 an hour! Think how much that would help your finances every month.

Get started budgeting as a single mom and save money

Applying these tips can make budgeting as a single mom much easier. They will help you create financial goals, save money, and work towards a debt-free future. Your children will also learn good money habits by your example, which will set them up for financial success!

The good news is you don't have to take this journey alone. Clever Girl Finance is here to support you with our FREE financial courses and worksheets, and you can get weekly motivation with our blog, podcast, and YouTube channel!

The post 8 Ways To Create A Winning Single Mom Budget appeared first on Clever Girl Finance.

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Preparing For A Baby Financially https://www.clevergirlfinance.com/preparing-for-a-baby/ Sun, 07 Feb 2021 14:05:25 +0000 https://www.clevergirlfinance.com/?p=10678 […]

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Preparing for a baby

Having a baby is certainly a life-changing experience! Not only are you expanding your family with a new addition, but you'll also be adjusting to a new lifestyle and schedule as well as changes in your finances. Yes, having a baby can cost a lot of money, and preparing for a baby financially takes good planning. With the right steps, you can ensure that you are able to save for your baby, cover their needs and still meet your financial goals.

Let’s talk through some of the things you can do to make sure you stay on top of your finances as you begin planning for a baby financially.

1. Adjust your current budget to accommodate your new baby

Once you know you have a baby on the way, it's a good idea to review the fixed expenses in your monthly budget to see where you can cut back or what you can cut out completely

Additionally, once your baby arrives and you are all settled in and have adjusted to life with a baby, you can also explore how you or your significant other can earn more money. You can do this by finding a better-paying job, finding a part-time job, or starting a side hustle.

Preparing for a baby by cutting back on your expenses and increasing your income will help to make more money available for a little one. It will also help you with staying on top of your financial goals.

2. Start saving for immediate expenses

Babies come with a lot of expenses, including immediate ones and longer-term ones. Although you will get a lot of what you need for your baby's first year or two at your baby shower, you'll still need to have money available to fill in the gaps for what your child will need.

Things like diapers, formula, daycare, nanny services, etc., can all cost a pretty penny. You certainly want to make sure you build these expenses into your budget and begin saving for them. Check out our key tips to help you craft your own baby budget!

3. Consider living on one income

If you are in a dual-income household and one of your goals is to stay home with your baby after your maternity leave ends, you definitely want to start making preparations by learning how to live on one income.

While you are still earning an income and before your baby arrives, you can readjust your living expenses. Figure out how to make things work financially on one income while saving the other income.

Preparing for a baby by living on one income will also give you the opportunity to ramp up your savings before you stop working.

Not everyone is able to survive on one income. Some moms may keep working while on maternity leave. It's all about planning ahead to you can do what works best for you.

4. Start saving for long-term expenses as your baby grows

To ensure you are able to stay on top of your goals with a baby arriving, it's important that you create a plan for your finances and start putting money aside as quickly as possible, not only for the expenses of a new baby but also for the long-term expenses that will come up as your child gets older.

Some expenses could include school activities, music lessons, daycare fees, babysitting costs, etc. The last thing you want to do is take on debt to meet your child's needs.

You can also consider setting up college savings for your child as well through a 529b (or other college savings options) and build the contributions for this account into your budget as well. This would be a great gift to your child and will help them avoid or minimize taking on student loan debt.

Having children might mean that you may have to save less in order to cover their needs, but it's all about being mindful of your expenses and being creative whenever you can to limit how much you are spending overall.

It's also important to keep your long-term financial goals in mind too as you make plans around your child. This way, you can still make progress toward your money goals while at the same time being able to cover your child's expenses.

5. Review your maternity leave and insurance coverage

It’s important to understand your maternity leave details so you can prepare your finances while you are out of work. How long is your leave and how much of your salary will you be paid?

If your leave is covered at 100% great; otherwise, if it’s less you can plan to put some extra funds aside to fill in the gap and even try to live on a reduced amount so you get used to it beforehand.

You also want to check in on your health insurance coverage. How much will be covered for a vaginal vs. c-section delivery as well as your hospital stay? You need to know what costs to expect when preparing for a baby!

6. Don’t go baby shopping till after your baby shower

It’s easy to get tempted to hit the shops and buy all those cute little baby things in preparation for your new arrival as a first time mom. But if you can, wait until after your baby shower to go shopping.  Why? Because you’ll most likely get a lot of what you need at your shower, and you can put the money you would have otherwise spent toward your goals.

The key to getting what you need is registering the right way, so be sure to look up online guides and ask other moms. Think of including things like diapers in different sizes, wipes, a stroller, a bouncer, etc. After your shower is over, you can then go out and purchase the things you didn’t get!

7. Update your life insurance policy

Part of preparing for a baby financially is updating your life insurance policy. Now that you have a little one to think about, it's best to add them as a beneficiary to your policy.

Life insurance is vital to your child's financial well-being if something were to happen to you. It can cover their education expenses and provide supplemental income too.

You want to ensure you have sufficient coverage for your family's financial needs. Speak with a licensed agent about the different policy options to help you find the policy that best suits your situation.

8. Create or adjust your estate plan

It's a sensitive subject to some, but having an estate plan is essential for your finances and preparing for a baby. Having your estate plan in place ensures your assets are designated to your chosen beneficiaries accordingly.

If you have already created an estate plan, then you need to adjust it to reflect what your financial wishes are for your new baby. You will need to revisit your estate plan if you have additional children.

9. Become a savvy shopper

Planning for a baby financially means you need to become a savvy shopper. You can save money shopping if you do it right! For example, babies grow fast, and buying clothes secondhand can save you a bundle of money.

Buying in bulk, couponing, and using cash-back apps can cut your budget and build your bank account. Start preparing for a baby financially by applying frugal tips to your lifestyle now.

Leverage these tips to help you with preparing for a baby!

Planning for a baby financially will set you and your child up for financial success. Start learning how to manage your money properly sooner than later. Make a financial plan, and budget, and get properly insured to prevent money setbacks.

Whether you are preparing for baby one, two, or three, it's always critical to review your financial situation before the baby arrives.

Remember, everyone's financial needs are different. Ensure you always pick the right budgeting method that works best for you and your family.

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Making Time For Your Finances As A Working Mom https://www.clevergirlfinance.com/working-mom/ Fri, 30 Oct 2020 14:13:04 +0000 https://www.clevergirlfinance.com/?p=9948 […]

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fworking mom

It’s no secret that being a working mom has its challenges. Amidst our many responsibilities, it’s easy to forget to make time for ourselves, let alone our finances.

Though it can be difficult, making time for these two very important things is possible. It’s all about organizing, prioritizing, and, ultimately, just rolling with the punches.

No two journeys in motherhood are exactly the same. That’s why there will never be a cookie-cutter solution to “balancing” it all. Instead, we can glean from the stories and advice of other working moms who are making things happen every day.

In the post, I’ll share some of the best tips for managing it all without leaving you or your finances out. These tips are applicable whether you are a mom in business, a mom to one, have two under two, or have multiple kids of different ages!

Tips to stay organized in your life & finances

As a working mom, organization is key. Being organized allows you to be more productive because you aren’t wasting time looking for the things that you need to actually do work. More importantly, organization helps to reduce stress--an all too familiar word for moms.

The chaos caused by clutter can induce anxiety and stress that can be debilitating. So your ultimate goal should be to create an environment where you can work and live with ease.

This doesn’t just mean that your workspace and home are tidy. Organization also means that you are intentional about your time as well.

But, before you get overwhelmed with the thought of Marie Kondo-level organizing, I assure you that it’s much simpler. Integrating these small changes in your day can make a world of difference and ultimately, open up more time and space for you.

Create a schedule

Budgeting your time is like budgeting your money: you must have a plan for it. Creating a schedule or plan for your time allows you to stay organized while allowing you to prioritize and focus on what’s really important.

Time blocking is a very popular and effective way to organize your day. This is an approach to scheduling where you dedicate blocks of time to accomplishing a specific task or group of tasks.

For example, you may dedicate an hour of your day specifically to reading and responding to emails. Likewise, you may block off 30 minutes to take a walk.

Having a plan for your time allows you to be proactive in managing your day and reduces the stress of fighting fires, or being reactive.

Dedicate 30 mins one day per week for planning the upcoming week. Sunday afternoons often work best for me but choose a day that works best for you.

Review upcoming events, meetings, and activities and make a plan to navigate--whether through time blocking or otherwise. Write it down in a physical planner or use any of the free options available on your mobile device.

Things come up and things change, so spend ten minutes of your morning reviewing your schedule for the day and making necessary adjustments.

Prepare ahead of time

Now that you’re armed with a plan, the next thing that you need to do is to prepare. This means that you do as much upfront work as possible before your week starts so that you aren’t scrambling to get things done later on.

A great example of this is meal planning and prepping. Meal planning and prepping is when you create a menu of meals ahead of time and do the basic prep work e.g. cutting, seasoning, and even some cooking a few days prior. You then store everything until it’s time for those items to be cooked.

Not only is this a great way to alleviate stress during the week, but it’s also a great way to get your kids involved. They can do small, safe tasks that will reduce your workload and also teach them new skills and responsibilities.

Preparing ahead of time isn’t just for your food. You can also prepare your clothes for the week and even pack your workout bag ahead of time to make your days go much smoother.

Prioritize what’s important

Despite what your kids, boss, clients, or perhaps even your spouse may think, everything isn’t an emergency. Instead, there are priorities and everything else.

When devising your schedule and getting organized with your time, it’s critical that you know what’s a priority and what’s not.

If you’re not sure how to prioritize, here are some questions to ask yourself:

  1. Is someone’s life or health in danger if it isn’t done now?
  2. Can it be rescheduled for a more convenient time?
  3. Is there a significant cost associated with not completing it now?

These questions can quickly put things into perspective. You will find that things are more pertinent than others and, therefore, should be prioritized on your schedule.

Now, this doesn’t excuse you from getting other, less critical, tasks done. However, it will give you more clarity on where to focus your time and energy to be most effective.

Automate where you can

The fact is that you don’t have to do everything. As technology has progressed, opportunities for automation have become more prevalent. Soon, driving will even be one less thing on your list of daily tasks.

You can already use automation to your advantage for your household chores like vacuuming and even washing dishes. But did you know that you can also automate your finances? Here are a few things that you can put on autopilot when it comes to managing your money.

Bill payments

We’ve all had that moment where we’ve forgotten to pay a bill. Before you get behind on your bills, put them on autopay. Automating your bill payments allows you to put them out of sight and out of mind.

They’ll get paid on time and, except for the occasional check to ensure nothing has changed, you don’t have to worry about them. This is great for your peace of mind and credit score!

Saving

If you want to ensure that you reach your saving goals, automating your transfers is the best thing that you can do.

This simply means that you automatically have a specific amount transferred into your savings account(s) when you get paid or on a monthly basis.

You can set up automatic transfers through your bank or you can even have your employer directly deposit the funds when you get paid.

Either way, automating this part of your finances is one less thing that you can worry about. Also, here are some great savings tips for moms on a budget, as well as key tips for surviving financially as a single mom.

Investing

Investing is one of the best ways to build wealth. So to have your wealth-building on autopilot is certainly something that you don’t want to pass up on!

The easiest way to automate your investing is by ensuring that you are putting money into your retirement account.

This can be automated with your employer, who will simply take the money directly from your paycheck and deposit it into your retirement account.

Despite the fact that you can automate your finances, you’ll still need to make time to review your budget on a consistent basis. So make sure that you add your budget meeting as a part of your weekly schedule and priorities.

Are you a single mom? Check out our tips on how to create a winning single mom budget.

What every working mom should know

Even with all of the planning, preparation, and automation, life will still happen. Things won’t go as planned and at times it may seem overwhelming. Here’s what you should remember when those times come and you feel like you are struggling as a mom.

You’re doing great

First and foremost, you’re doing great. As a working mom, no one in the world has a harder job than you, so show yourself some grace. You’re doing the best that you can and that’s all that you can do.

It’s ok to take care of you

Pause from taking care of everyone and everything else and give yourself some love. It’s completely ok to take time for yourself. The world won’t end and you deserve it.

Consider these small ways to practice self-care.

  • Guided meditation
  • Going outside for a walk
  • Breathing exercises
  • Opening a window
  • Turning off your phone
  • Taking a nap

You don’t have to do it all (It’s ok to ask for help)

Always remember that Superwoman is a fictional character. It’s impossible for us to do everything and it’s completely ok to ask for help. Be okay with asking for what you need and accepting the help that comes. Are you a shy mom? Check out our key tips!

Enjoy every moment

Though it may be a challenge, being a mom is one of the greatest privileges in life. In the midst of your busyness, don’t forget to savor the moment and enjoy the small things.

Work will always be around, but your children won’t. Take a moment to enjoy the laughs, the tears, the hugs, and the conversations.

Final advice for working moms

There’s no job harder than what you’re doing. Not only are you helping to shatter glass ceilings and build impactful businesses, but you’re shaping the world’s future.

It’s a tall task, but you’re certainly up for the challenge. Life won’t be perfect, but hopefully, these tips will help it become easier.

You don’t have to navigate the working world or your finances alone. Join our community of women from around the world who are learning to manage it all, just like you.

The post Making Time For Your Finances As A Working Mom appeared first on Clever Girl Finance.

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