Being a mom is the most rewarding and wonderful feeling in this world. However, it also comes with an abundance of duties and responsibilities. Kids can be very needy and expensive. In Canada, raising one child until the age of 18 will cost you around $10,000 to &15,000 a year. This costliness can overwhelm you.

Fortunately, there are some ways to lower the financial stress of raising a child. Here are ten useful money saving tips for moms:

Tip #1: Make staying at home fun

One of the easiest ways to save money is by staying home. You won’t have to spend money on transportation or outside entertainment. Your money won’t be wasted on expensive food from eating out.

Instead, engage in exciting activities at home that you and your family will enjoy. Movie nights, game nights, and homemade pizza nights are all non-expensive and fun things to do at home.

Tip #2: Use loyalty point cards/apps

Using loyalty point cards can be a great money saving tip for moms. There are various money-saving apps that are free and easy to sign up for. For instance, the PC Optimum offers you points that you can redeem for free groceries. The SCENE card is wonderful for getting discounts on movie tickets, meals and more.

If you have a car, the Petro-Points card is a must for saving on gas and car washes. Loyalty point cards and apps can make a beneficial difference in added financial help.

Tip #3: Stop throwing out your food

If you or your kids have leftovers, do not throw them out! Instead save those leftovers to take to work the next day or give them to your kids for their school lunch. Wasting food is wasting money. You can also freeze the food to save the leftovers for another time.

You can save money by being creative and making different dishes with your leftovers. You can turn your leftover rice into a stir fry meal. You can use leftover cooked chicken to make chicken soup the next night. Give your leftover ingredients a second chance.

Tip #4: Don’t buy, borrow

It could get pretty expensive pretty fast if every time your child wanted a new book, DVD, or toy you bought it. Take a trip to the library weekly and let your child pick out new books and DVDs.

Also, did you know there are toy-lending libraries? That’s right! Toy-lending libraries will help you save money that otherwise would have been spent on toys for your kiddos. Check online for toy-lending libraries near you.

Tip #5: Trade clothes with family and friends

Kids are always growing. Clothes, however, stay the same size. Buying new clothes to keep up with your child’s growth can cost you a lot. Instead, try trading your kid’s clothes. Save money by swapping your kid’s clothes with cousins that are close in size or with your friend’s kids.

Tip #6: Take advantage of sales

Why pay full price for anything? Whether it’s for groceries or clothes, make use of sales! Don’t just buy whatever catches your eye first. You can use a buy one, get one sale to buy your kid their current size and a size up. You will save money and won’t have to worry about spending money on that for next year. Organize and plan ahead so you can take advantage of low prices and great deals.

Tip #7: Buy what you need, not what you want

It may be tempting to buy your kiddo those wonderful new name-brand shoes or sweater. Is it what they really need though? Probably not. It’s not harmful to spend on something that you don’t need here and there. However, you and your credit card will suffer greatly if you do it often.

Instead, focus on what you have. Re-use what you can and be creative with what you can’t.

Tip #8: Cut your kid’s hair yourself

Kid haircuts can add up and become costly. Cut the costs by scheduling less frequent visits. Your kid doesn’t need an expensive fancy hairstyle. You can cut your kid’s hair yourself at home.

Tip #9: Create a monthly budget

Take control and figure out where your money is going by creating a monthly budget. A monthly budget will help you manage your spending habits and save money. Monthly budgets will ensure you don’t spend money you don’t have on items your kids don’t need!

Budgeting is important because it will help you achieve your short-term and long-term financial goals. If you don’t already have one, it will help shed light on any bad spending decisions and habits. A budget will help you keep track of exactly how much money you have. If you need to borrow payday loans in a particular month, the budget will help you develop a schedule for paying it off afterwards.

Tip #10: Accept any hand-me-downs

Stop spending so much money on items that your child will eventually lose interest in or outgrow. Instead, accept hand-me-downs. Taking hand-me-downs is a smart money-saving idea. Telling your friends and family that you are accepting hand-me-downs will result in a lot of free toys and clothes for your kids.

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