Money Saving Mom : 7 Essential Money Saving Strategies

April 26, 2023

As a mom, saving money is always a top priority. Whether you’re a stay-at-home mom or a working mom, it’s important to make every dollar count. Here are some money-saving tips for Canadian moms with some helpful resources:

1. Create a budget

Use free budgeting tools available online such as Mint, YNAB, and PocketSmith. These tools can help you track your expenses, set savings goals, and manage your money more effectively.

Understand Your Expenses: Before diving into a budgeting tool, take some time to understand your monthly expenses. This includes recurring bills, groceries, transportation, health, education, and discretionary spending. This will give you a realistic starting point when setting your budget.
Choose the Right Tool for You: Mint, YNAB, and PocketSmith are all excellent budgeting tools, but they each offer different features. Explore each of these platforms to find one that suits your personal preferences and financial goals. For example, if you’re interested in detailed spending categories, YNAB might be the right choice for you.
Set Clear Goals: Having clear, measurable savings goals can help keep you motivated and focused. Whether it’s saving for a family vacation, your child’s college fund, or an emergency fund, make sure to outline these goals within your chosen budgeting tool.
Start Small and Be Consistent: If you’re new to budgeting, it might be overwhelming to drastically change your spending habits overnight. Start with small changes, and as you become more comfortable with budgeting, you can further refine your spending and saving habits. Consistency is key here.
Make It a Family Affair: Engage your family in the budgeting process. This not only helps distribute the responsibility, but also educates your children about money management from an early age.
Revisit and Adjust: Your budget isn’t set in stone. As your circumstances change – like a new job, a new child, or unexpected expenses – your budget should adapt accordingly. Regularly reviewing your budget and making necessary adjustments ensures it continues to serve your family’s evolving needs.
Use The Envelope Method: This classic budgeting technique can be utilized digitally with these tools. The method involves allocating specific amounts of money to each spending category and not exceeding it. This is particularly effective for discretionary spending like eating out, entertainment, or shopping.
Track Your Progress: Use the tracking features in these budgeting tools to regularly monitor your progress towards your goals. Seeing your savings grow can be a powerful motivator to stick to your budget.
Automate Savings: Consider setting up automatic transfers to your savings account on payday. This “pay yourself first” approach ensures that you consistently contribute to your savings before spending on other areas.
Prioritize Debt Repayment: If you’re dealing with debt, make sure to include debt repayment in your budget. Paying off high-interest debt can free up more money for saving in the long run.

Remember, the goal of budgeting isn’t to limit your enjoyment of life, but to ensure that your money is being used in a way that aligns with your family’s priorities and goals.

2. Use Coupons:

Coupons can be found in a variety of places, including, online coupon websites like RetailMeNot, Honey, and RedFlagDeals websites. Some Canadian companies also offer loyalty programs and you can use Stocard to store all your loyalty cards in one place on your phone.

Coupon Research: Make it a habit to research for coupons before making any purchase, either online or in-store. This way, you will never miss out on any potential savings. You can make use of search engines and dedicated coupon websites to find deals on items you need.
Understand the Fine Print: Always read the terms and conditions of the coupon. Some have specific use cases or expiry dates. Others may only apply if you spend a certain amount. Understanding the conditions will help you maximize your savings.
Combine Coupons with Sales: To maximize your savings, try to combine coupons with sales or clearance items whenever possible. This will allow you to save money on already discounted items.
Email Subscriptions: Sign up for email newsletters from your favorite stores or brands. They often send exclusive coupons to their subscribers. Just make sure to use an email address dedicated to these types of communications to avoid cluttering your main inbox.
Social Media Follows: Follow your favorite brands on social media. Companies often share exclusive deals, promotions, and coupons with their followers on platforms like Facebook, Instagram, and Twitter.
Don’t Buy Unnecessary Items: While using coupons can save money, it can also tempt you to buy items that you don’t need. Make sure the coupons you collect align with your shopping list to avoid unnecessary spending.
Ask for Price Match: Some retailers offer a price match guarantee. If you find an item at a lower price at another store, present your evidence (like a flyer or online listing) at the checkout. This way, you can save money without having to visit multiple stores.
Create a Couponing Schedule: Consistent couponing can lead to substantial savings over time. Consider setting aside a specific day or time each week to look for and organize your coupons. This way, you’ll always be ready to save when you shop.

Remember, using coupons and seeking deals is not about being cheap, but about being smart and efficient with your money. It allows you to allocate funds towards your family’s more pressing needs or savings goals.

3. Shop sales:

Use price comparison websites like Shopbot and Groupon to find the best deals. You can also use Flipp to browse flyers and save money on your grocery shopping.

Plan Ahead: While spontaneous sales can be tempting, it’s best to have a plan when shopping. Create a list of items you need and stick to it during sales. This prevents impulsive purchases and ensures you’re only buying items you truly need.
Seasonal Sales: Be aware of seasonal and holiday sales, such as Boxing Day, Black Friday, and end-of-season sales. Retailers often offer significant discounts during these periods, making them great times to buy.
Create Price Alerts: Some price comparison websites allow you to set up price alerts for specific items. This can be a helpful way to monitor prices over time and purchase items when they are at their lowest.
Research Before Buying: Before making a purchase, take the time to research the product and read reviews. This will ensure you are not only getting the best price, but also the best quality for your money.
Bulk Purchasing: When shopping sales, consider buying non-perishable items in bulk. This can lead to significant savings over time, particularly for household goods and pantry staples.
Understanding Sale Cycles: Most products follow certain sale cycles. For example, linens typically go on sale in January, while new electronics are discounted in November. Learning these cycles can help you time your purchases for maximum savings.
Check Different Stores: Don’t limit yourself to one retailer. Different stores offer different deals, so explore multiple stores to ensure you’re getting the best price.
Keep Receipts: In case an item goes on sale shortly after you purchase it, some retailers will offer a price adjustment. Keep your receipts as proof of purchase and monitor prices after your shopping trip.
Online vs. In-Store Prices: Sometimes, retailers offer different prices online and in-store. Always check both before making a purchase to ensure you’re getting the best deal.
Leverage Social Media: Follow your favorite brands and retailers on social media. Many companies announce flash sales or exclusive deals on these platforms.

Remember, being a savvy sale shopper means buying items that your family needs and will use, not simply purchasing because something is discounted. Happy shopping!

4. Meal plan:

Meal planning kits like HelloFresh and The Goodfood can help you plan your meals and create a grocery shopping list. You can also find recipes and meal-planning ideas on Allrecipes and Food Network websites.

Establish a Routine: Stick to a weekly or bi-weekly routine for meal planning and shopping. This ensures you always have fresh ingredients on hand and reduces the likelihood of resorting to expensive take-out.
Make Use of Leftovers: Plan meals around using leftovers from a previous meal. This reduces waste and can help stretch your food budget further.
Try Batch Cooking: Consider cooking in batches and freezing meals for later use. This can save time, reduce the frequency of cooking, and take advantage of bulk buying.
Diversify Your Diet: Explore new recipes and cuisines to prevent meal planning from becoming monotonous. This not only makes meal times more exciting but can also lead to discovering more cost-effective meals.
Plan Around Sales: Check your local grocery store’s weekly ads before meal planning. You can then plan meals around discounted items, leading to considerable savings over time.
Incorporate More Vegetarian Meals: Plant-based meals can often be less expensive than meat-centric ones. Consider incorporating a few vegetarian meals into your weekly plan to cut costs.
Use Recipe Websites for Inspiration: Websites like Allrecipes and Food Network have vast libraries of recipes that you can sort by ingredients, dietary preferences, or cooking method. This can help you plan varied and exciting meals.
Create a Meal Calendar: Post your meal plan on a calendar in your kitchen. It will keep everyone in the household informed about the upcoming meals and help keep you accountable to your plan.
Store Ingredients Properly: Ensure you’re storing your ingredients properly to extend their shelf life. This can prevent food waste and help you get the most out of your grocery shopping.
Invest in Proper Kitchen Tools: Having the right tools can make meal prep quicker and easier. This doesn’t mean you need expensive equipment; a few basics like a good quality knife, pots, and a food processor can go a long way.

Remember, meal planning isn’t about creating gourmet meals every day, but about preparing healthy, affordable meals that your family enjoys while minimizing waste and saving money.

5. DIY Projects

Find DIY projects on websites like Pinterest or get tutorials and project ideas on blogs like A Beautiful Mess and Apartment Therapy. You can also check out Instructables for step-by-step instructions on how to make anything.

Start with What You Have: Before embarking on a DIY project, assess what you already have at home. You might be surprised by what you can create with materials already lying around, thereby saving you money.
Choose Projects Wisely: Select DIY projects that align with your skill level and the tools you have available. Trying something too advanced could lead to disappointment or unnecessary expenses.
Repurpose and Recycle: Think about how you can reuse or repurpose items you already own. Turning an old ladder into a bookshelf, for instance, can be a fun, cost-effective project.
Budget Your Projects: Even DIY projects can become expensive if you don’t set a budget. Determine your spending limit before starting and stick to it.
DIY Gifts: Consider DIY projects for homemade gifts. They can be personalized and are often more appreciated because of the effort and thought put into them.
Be Patient: Some DIY projects require time, especially if you’re learning a new skill. Don’t rush the process and enjoy the satisfaction that comes from creating something with your own hands.
Safety First: Always consider safety when doing DIY projects. Use the right protective gear and make sure you’re confident in what you’re doing to avoid accidents.
Shop Sales for Supplies: Keep an eye out for sales at craft stores or online marketplaces. Buying supplies in bulk or when they’re discounted can lead to significant savings.
Join a DIY Community: Joining online communities of DIY enthusiasts can provide support, inspiration, and advice. Websites like Reddit or certain Facebook groups can be great places to start.

Remember, the goal of DIY projects is not only to save money but also to spark creativity, learn new skills, and perhaps even discover a new hobby.

6. Shop Secondhand:

Thrift stores like Value Village and Goodwill are great places to find secondhand clothing and household items. Find gently used items on online marketplaces like Facebook Marketplace at and Kijiji. You can also check out VarageSale to buy and sell used items in your community.

Quality Over Quantity: When shopping secondhand, focus on the quality of items rather than the quantity. Items that are well-made will often last longer, providing better value for your money.
Patience is Key: Finding the perfect item at a thrift store can sometimes take time. Be patient and make frequent visits to increase your chances of finding gems.
Know Your Measurements: Clothes shopping secondhand can be tricky, as sizes often vary between brands. Knowing your measurements can help ensure a good fit and prevent unnecessary returns or re-selling.
Inspect Items Carefully: Always thoroughly inspect secondhand items for any damage or wear. Check clothes for stains or tears, and test electronics to ensure they’re in good working order.
Buy Off-Season: Buying items off-season can lead to significant savings. For example, buy winter coats in the summer and vice versa.
Consider Resale Value: Some items, such as designer clothing or vintage furniture, may retain or even increase in value over time. Keep this in mind when shopping secondhand.
Negotiate Prices: In many secondhand marketplaces, prices are negotiable. Don’t be afraid to make a reasonable offer; the seller may be willing to reduce the price to make a sale.
Local Shopping: Local online platforms like Facebook Marketplace and VarageSale can be excellent sources for secondhand items. They allow you to inspect items before purchasing and avoid shipping costs.
Consider the Environment: Shopping secondhand is not only good for your wallet, but also for the environment. It’s a great way to reduce consumption and waste.
Shop with a List: As with any shopping trip, go in with a list. This can prevent impulse purchases and keep you focused on what you actually need.

Remember, shopping secondhand doesn’t mean sacrificing style or quality. With patience and a keen eye, you can find high-quality items at a fraction of their original price.

7. Use cashback apps:

Get cashback using popular Canadian apps like Checkout 51 or Drop .These apps let you earn cashback on your purchases and save money on everyday items.

Understand the App’s Rules: Each cashback app has its own set of rules and conditions. Make sure to read and understand these before using the app. This will help you maximize your cashback and avoid potential disappointment.
Use Multiple Apps: Don’t limit yourself to one cashback app. Many users find they earn more by using a combination of different apps. Just make sure to check the terms and conditions to ensure you can stack rewards.
Combine with Coupons and Sales: To maximize your savings, try to combine cashback offers with other discounts, such as sales or coupons. This can often lead to getting items for a fraction of the original price or even for free.
Stay Organized: Keep track of your receipts, as you may need them to claim cashback. Many apps require you to take a photo of your receipt, so ensure they’re stored safely until you’ve claimed your rewards.
Choose the Right Method: Some apps offer higher cashback percentages for certain payment methods. For instance, paying with a credit card may earn you more cashback than paying with debit.
Regularly Check Offers: Cashback app offers often change, and some are only available for a limited time. Regularly checking the app can help ensure you don’t miss out on great deals.
Be Aware of Payout Thresholds: Many cashback apps have a minimum threshold that must be reached before you can cash out. Be aware of these and plan your purchases accordingly to avoid having your money tied up in the app.
Don’t Buy Unnecessary Items: The goal of using cashback apps is to save money on items you’d be purchasing anyway. Buying items just because they offer cashback defeats the purpose and can lead to unnecessary spending.
Refer Friends: Many cashback apps offer referral bonuses. If you have friends or family who also enjoy saving money, referring them can lead to extra cashback for both of you.
Regularly Redeem Your Rewards: Don’t let your rewards sit in your account for too long. Regularly redeem them to ensure you’re actually benefiting from the savings.

Remember, the ultimate goal of using cashback apps should be to save money on purchases you’d make anyway, not to justify spending more on things you don’t need.