Everyone knows how important budgeting is, but it can be hard to plan for the future when the present is so demanding. And moms, in particular, know this oh-so-well!
New moms, in particular, have a hard time balancing their financial and family responsibilities. In our experience, it’s rarely their fault entirely.
Whether it’s juggling multiple jobs, taking care of the kids (by sometimes doing double-duty as both mom and dad!), or dealing with other obstacles like tight budgets, moms are busy in ways that other people can’t even imagine.
It’s easy to just tout budgeting as the solution, but where should busy moms even start?
We know just how hard it is to stay on top of finances when you’re busier than a one-armed paper hanger, but luckily, we’ve got a few great tips to help busy moms balance both budgeting and family life. A lot of blood, sweat, and tears (literally!) have gone into perfecting these strategies, so—trust us—they WORK.
I’m Not Busy, I’m Just a Mom
Let’s get one thing out of the way,
A lot of moms tend to undersell just how packed their schedules are. Oh, they say, I’m not busier than anyone else. But that’s not true—moms are, in fact, busier than most people!
And while the sentiment is admirable, it’s an understatement. Frankly, you’re doing yourself a disservice if you’re not crediting your hard work. Being a mom is one of the most demanding jobs out there—and it pays absolutely nothing!
Refusing to acknowledge just how busy you are doesn’t make the truth any less real. Repeatedly claiming that you’re “fine” even though you’re running around like a chicken with your head cut off doesn’t just mean that people won’t take you seriously—it can also lead to burnout.
And when a mom burns out, oh boy, that’s not good news for anyone. So don’t be shy about admitting just how much you have on your plate—you deserve to give yourself the recognition you so rightly deserve!
Strategies to Streamline Your Budget
With that out of the way, let’s move on to some tangible strategies for helping busy moms balance their budgets and family life.
While moms have tons of practice doing complex arithmetic in their heads (there’s no way you can accurately split a plate of nachos five ways without some mad math skills!), you don’t want to be running the numbers in your head all the time.
It pays to keep your budget as simple as humanly possible. Literally. And don’t worry about your brain shrinking—you will use every single bit of it on the other, more important aspects of parenting.
Here are our top five ways to make your budgeting process foolproof as can be:
Automate bill payments
There’s nothing worse than reaching the end of the month and realizing you’ve missed a bill. You can’t bear to take back the presents you just bought your kiddos, and so late payment fees get tacked onto your already tight budget.
Avoid such disasters by automating bill payments! Set up a direct debit from your account and make sure that fixed expenses are automatically taken care of. That way, you won’t have to spend weeks worrying if you missed a payment or two.
Create a new budget for each month
Flux and change are the hallmarks of life with kids. You never know when your little one may come home with a school project or your teenager might suddenly need an outfit for a school event. Having a budget set in stone only leads to disappointment and resentment, so be sure to factor in new expenses as they come up. And remember “new to you” clothing is trendy and fun when you call it “thrifting” 😉
Take the time each month to reassess your budget and adjust it as needed.
Use a credit card—but be wise about it
Credit cards offer a lot of benefits, like flexible payment options, purchase protection, and more. But they can also quickly get out of control if you’re not careful. The key is to use your card responsibly and pay off your balance every month. That way, you can enjoy the perks of a credit card without any of the nasty side effects.
Also, just because you’re approved for a 20k credit limit doesn’t mean that needs to be your limit. No one knows you better than yourself, if willpower is an issue for you when it comes to credit cards call and have that limit lowered to an amount that is more practical for your income status.
Set up emergency funds
No one wants to be the one to bring up worst-case scenarios, but let’s face it: fair or not, moms are on the hook for ensuring that the family is financially equipped to handle emergencies.
Establish a separate emergency fund and set aside a small amount of money each month. That way, you’re prepared for the unexpected and don’t have to worry about your budget getting thrown off track due to health issues or other problems that come up.
Always leave room for yourself
When you’re tasked with the seemingly impossible mission of balancing a budget and family life, it can be tempting to just throw yourself into the deep end and forget about your wants and needs. But that’s not sustainable—not for you, and not for your family.
Be sure to incorporate some breathing room into your budget each month so that you can treat yourself every once in a while or save up for something special. Your family may not think your spa trips or new shoes are essential, but as a busy mom, you know better!
Caring for your mental health is an integral part of parenting, so make sure that your budgeting plan leaves room for you to do the things you need to recharge and keep going.
Budgeting is a necessary evil, but it doesn’t have to be an all-or-nothing proposition. Busy moms can stay on top of their finances while still taking care of family life with the right tools and strategies in place. As long as you make sure to automate payments, reassess your budget each month, use a credit card responsibly, set up emergency funds, and save enough for yourself—you’ll be able to keep all the plates spinning with ease.
Now go forth and lead the way in mastering budgeting while still prioritizing family life!
Mom on the go in Holy Toledo 