You can "make money" as a full-time housewife by stretching every dollar, says Sonal Karamchandani. She shares some practical money-saving tips for housewives below.
Even though housewives might not technically earn money, we can still “make money” by saving and become financially savvy homemakers.
Managing a home and meeting saving goals can be a challenge. Saving goals can be hard to stick to, but it’s easier when you make it fun by mixing it up.
You may ask “how does a PARTY help save money?” Here’s how it works.
A group of 10-12 ladies gather together and pool their money in a fund. Everyone puts the same amount of money into the “pot” and one lucky name is picked to get that lump sum amount.
Every month, they put the same amount of money, and a new name is picked until the round is completed.
Why not just put the amount yourself every month? Saving with your social people keeps you accountable, plus it’s fun!
I’m grateful for my kitty parties as they abled me to buy my children’s laptops and mobile phones, along with giving me extra cash flow for the occasional home renovations and décor.
This is a very popular yet easy method to save. All you have to do is stash money in a specific place once a week—could be a piggy bank, a jar, a special wallet, etc.
You can start as low as $1 and each week, increase that amount by adding a $1 more than the previous amount. Once you reach week 52, you should have $1378 saved up!
When I used this method, I started with $10 and added $10 each week. By the end of 52 weeks, I had a substantial amount—enough for our family holidays!
You would be surprised how much all those leftover coins could add up to. Keep a family jar for all your family’s change at the end of the day. If the whole family agrees not to touch the coin stash, you’d be surprised at the final amount!
Once you step out of the house for your meals, you aren’t just spending a considerably more expensive meal, but also on transportation and other purchases. Eating home-cooked meals is much cheaper and has been proven to be healthier.
To spice things up at home, try going the extra mile and spend some time on food presentation and the table setting.
Do not shop with your kids or when you are hungry! Most moms out there can vouch for me on this one. Make a grocery list and stick to it. Try not to impulse buy groceries and try to avoid the “sweet tooth lanes.”
You could also try being a vegetarian once a week, as vegetables aren’t just healthy, but are also cheap. Avoid sodas and energy drinks, and encourage the family to stick to water most days.
Once a year, unclutter your home and hold a garage sale. You’d be surprised at how much you can make from things you no longer need. Every penny counts, and it is worthwhile selling things you once paid a price for yourself.
If you are passionate about art, dance, or cooking, why not consider holding workshops or classes to share your wonderful talent? You’d be surprised at how interested people will be to learn from you! You could even run summer programs for children during school holidays.
Honestly, there are plenty of ways to budget, save money and help around your home. It takes a motivated and determined mindset to meet the extra needs and analyze what works best for you.
We hope these money-saving tips for housewives were helpful! Let us know what you think in the comments below.
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