Simple Ways to Save as a Stay-At-Home Parent

Living on a single income isn’t easy.

Even if you consider yourself to be a frugal person, the increasing costs of various bills today mean that it’s incredibly difficult to make ends meet when you don’t have cash coming in from at least two people in your household. Sometimes, however, the best option to save on childcare costs and deliver the best support to your child is to give them a stay-at-home parent.

The good news for parents who want to provide that 24/7 care to their little ones is that there are ways that you can cut costs and make your dreams come true. You just need the right strategy. Here are just a few simple tips that stay-at-home parents can use in 2020.

1. Invest in a Freelance Career

Just because you’re a stay-at-home parent doesn’t mean that you can’t have a job too. That might sound strange, but the growth of the internet has made it easier for anyone to make money from the comfort of their own home, even when they’re looking after their kids. With a small loan, you can get all the cash you need to invest in things like a computer or expert training, so that you can begin to sell your services online as a virtual assistant, graphic designer, or writer.

With a freelance career, you can choose the hours that you want to work around your child and take on more jobs as your little one goes off to school. It’s the perfect way to balance work and family life.

2. Stick to Cash

When you’re living on a single income, every penny really does count. Unfortunately, it’s easy to lose track of those pennies when you’re using credit and debit cards to pay for things, rather than cash. Switching to envelopes of money that you can use for things like food and entertainment will ensure that you never go over your limit when you’re spending on crucial items.

Additionally, using cash should also mean that you can develop a better relationship with your money. A lot of people don’t realize how much money they spend on little things throughout the week.

3. Don’t Go Out as Often

This is likely to be a tough rule to follow as a stay-at-home parent. The more time you spend indoors with your little one, the more you’re going to want to take advantage of every opportunity to go out for meals or explore local events. However, every time you go out, you’re spending money on things like refreshments, snacks, and even gas for the car.

While you don’t have to spend your entire life indoors, try to spend most of your time at home. You can also spend some of your extra time looking for things that you can do outside that aren’t going to cost you money- like visiting a park.

4. Learn How to Cook

Although you’re likely to be exhausted after a long day of caring for your little one, the last thing you want to do is spend your hard-earned cash on a takeout or fast food. Rather than asking your spouse to pick up something that you’re craving from the store on his or her way home from work, think about how you can learn to make your own meals instead. You can find plenty of recipes and tutorials online from active people who want to learn how to create more delicious meals.

Learning how to cook will give you another hobby that you can spend your time on when you’re starting to feel a little stir crazy from being cooped up at home. You can also find items that are safe to freeze, so that you can create meals in advance and save them for use later.

5. Buy Used

Finally, remember that you don’t have to buy everything you need brand-new. Rather than spending a fortune on a new smartphone, consider the benefits of looking for a refurbished phone instead. You’ll get all the same benefits of the device as you would have if you had purchased it when it was still new. The only difference is that someone else had it before you.

It’s also worth checking out eBay and online selling sites whenever you need to invest in something new for your baby or your household. You’d be surprised how many items you can buy in excellent condition from people who no longer need them online.