Surviving on One Income: SAHM Money Saving Tips

Ever since I made the decision to leave my career and stay at home to take care of my little one, Babybel, while working on my YouTube, blog, and Etsy shop businesses, I’ve had to become savvy with my spending habits. I’ve been finding ways to cut back on expenses wherever possible, to ensure that my family’s financial goals align with our current situation. On top of that, with the skyrocketing cost of living, we’ve had to be even more vigilant with our spending. It feels like everything has become so expensive these days, making it even more challenging for us to make ends meet. But we’re determined to make it work and are constantly finding ways to cut back and make smart financial decisions.

Over the years, my family and I have learned some valuable tips that have helped us manage our finances effectively. These 21 tips have been tried and tested and have helped us stay on top of our financial situation. I hope they can be helpful to you as well

Create a budget

In my experience, creating a budget is crucial for effectively managing your finances. It’s essential to have a clear understanding of your income and expenses to identify areas where you can cut back, calculate how much money you have left each month, and avoid unauthorized overdrafts or penalty charges. By keeping a close eye on your budget, you can make smart financial decisions and ensure your money is working for you

Get rid of subscriptions you don’t need

Do you really need Netflix, Disney+, Sky, and Prime TV? Be honest. Have you got an unused gym membership still leaving your account each month? We cut back on so many of subscriptions – we already had Amazon Prime as we use Prime delivery, so we got rid of Kindle Unlimited as Prime has a lot of similar books included, and also stopped our Netflix and Disney+ subscriptions as we’re not big TV watchers anyway, so Prime TV was enough for us.

Meal plan, bulk buy, and cook from scratch where possible

This one saves us so much money. We plan our meals for the next few weeks, check what we already have, buy what we need (in bulk where possible), and then cook as much as we can from scratch. Buying in bulk usually works out cheaper than buying smaller quantities, we cut down on food waste as we know what food needs to be used, and cooking from scratch is a lot cheaper than buying convenience foods. The biggest one for us though is it cuts down on how many takeaways we buy! We are extremely guilty of getting to the last few days of the week, realising we haven’t planned anything for dinner, and just ordering a takeaway.

Cook at home instead of eating out or getting takeaways

An easy way to save money is by cooking at home instead of eating out or ordering takeaways. Instead of buying a takeaway pizza, my family and I often opt for getting one from the deli counter at the supermarket or making our own. We’ve found that these options are often tastier than delivered ones! Additionally, when we do choose to eat out, we try to find places that offer free meals for kids to save some extra money

Minimise food waste

Let’s face it, food prices these days can be quite steep, and wasting food can be heartbreaking! That’s why my family and I have found that meal planning is an effective way to cut down on food waste and save money. By planning our meals ahead of time, we make sure to only buy what we need, which has significantly reduced the amount of food that goes to waste.

Cook vegetarian where possible

For some reason, this one often upsets people! I’m not suggesting that we give up meat entirely, but incorporating beans, lentils, and tofu into our diet can be a lot cheaper than meat. One great way to get started is by implementing a ‘Meatless Monday’ or similar, which not only benefits the planet but also helps to cut down on our expenses. Plus, we’ve discovered some fantastic vegetarian recipes that even the meat-eater in our household enjoys

Switch from branded to non branded food

This one is a real trial and error exercise. When we were a two-income family, we bought a lot of branded food, without even really thinking about the cost. But one of the first things we did to try and save money on our shopping was to start trying out some non-branded items. We’ve discovered that the majority are actually quite nice, but there are some things that we can’t compromise on. Cheap coffee and ketchup do not get the vote in the house!

Make your own coffee

Unlike many people, I actually prefer homemade instant coffee over coffee shop coffee, so for me, this money-saving tip wasn’t too much of a sacrifice. Purchasing a cup of coffee every time you’re out and about can really add up, but investing in a decent leakproof cup and making your own coffee can save you a surprising amount of money. By taking a few extra minutes to prepare your coffee at home, you’ll be able to enjoy your favorite beverage without breaking the bank.

As I’m writing this post, I’m realising that there are so many money-saving tips that I want to share with you, that a part two will have to be made. I’m always on the lookout for new ways to save money, and I would love to hear your favorite money-saving hacks too! Please share your tips in the comments below, and let’s help each other to become more mindful of our spending and make the most out of our hard-earned money

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