Balancing Family and a Budget: Finance Tips for Working Moms

Mom With Baby

Being a mother is hard work. It’s safe to say you probably already know this. However, a mother’s lifestyle is even busier when she works (which is becoming more and more common). 

Between preparing vegetarian meals for kids and raising them in the most stable environment, it can sometimes feel like quite a challenge to be a responsible mom. Having to hold down a job and maintain financial stability on top of that can make it seem even more difficult to stay on top of essentials like money management.

That doesn’t have to be the case, though! If you’re a busy working mom, keep these financial tips in mind. They’ll help simplify what could otherwise feel like one of your more overwhelming responsibilities.

Know the Basics

Getting control over your finances takes some degree of effort at first. You need to complete a few early steps to make life easier for yourself in the long run. Luckily, the financial benefits are worth the time.

Specifically, sit down and determine what your expenses are. This includes both regular expenses (rent/mortgage payments, food, etc.) and any debt you need to pay off. You also need to monitor your family’s spending for about a month. 

Once you’ve done so, you can better understand what you need to set aside money for, and what your family is already spending money on. That’s critical to figuring out where you need to make changes.

Don’t worry if this sounds a little intimidating. There are now plenty of apps that let you monitor spending easily. You don’t need to jot it down in a log every time you spend money anymore!

Set Goals

Knowing what you need to spend money on is obviously important. That said, you should also determine what you want to eventually spend money on. Doing so helps you decide how much you need to put away in savings each month.

For instance, perhaps you want to send your kids to college. Find out what college will likely cost when they’re old enough to attend, and calculate how much you’ll need to save each year to ensure you can pay for it. You’ll be much less stressed in the future if you set these kinds of goals, and make plans for achieving them, now.

Learn to Invest

Saving money effectively doesn’t need to involve merely setting aside part of your paycheck in a bank account every week. To maximize your savings, you may want to invest.

Just make sure you know what you’re doing beforehand. Investing can be a great way to grow your savings, but it involves a little bit of risk. 

Before jumping into an investing strategy, read blogs and books on the topic, watch relevant videos, and consider taking online investing courses. Some of them are even free! Again, it will take some time to learn the essentials, but once you do, you can invest with confidence.

Discuss Spending & Financial Goals with Your Partner

Don’t overlook your partner’s role in personal finance. Odds are good their spending affects you, and vice versa. You need to be on the same page to make sure you’re working together towards a common goal. If you take the time to get on the same page, you’ll have someone on your side who can also help with tracking finances, making plans, and finding investment opportunities.

Most importantly, be proactive. Tracking your spending is something you need to do constantly. There may be instances when you find you need to make changes to your habits. There might also be times when you find you can afford to spend more than you have been. As a busy mom, you’ll be more likely to know when those times are if you remember these tips.


All Categories

Business Operations

Entrepreneur Interviews

Marketing, Networking, & Social Media

Self Care & Personal Development

Working Moms

Business Software and Technology

Entrepreneurship & Small Business

Organizing Tips


Career Building

Family Businesses


Starting Your Own Business

Work-Life Balance


Hiring Help

Management & Leadership

Time Management & Priorities

Women in Leadership

Recent Posts

Business Blogging 101: How to Create and Sustain a Successful Blog

Business Blogging 101: How to Create and Sustain a Successful Blog

For businesses, business blogging is becoming a powerful tool to not only attract and engage new customers but also to build brand authority and ultimately grow your brand.
This comprehensive guide will equip you with the essential knowledge and strategies you need to start and succeed in the dynamic world of business blogging.

How to Protect Your Merchandise From Theft

How to Protect Your Merchandise From Theft

Protecting your merchandise from theft is a critical aspect of running a successful business. In a world where security threats are ever-present, safeguarding your inventory is essential. Not only does it protect your bottom line, but it also ensures the safety of...

Experts You Need to Have at Your Business

Experts You Need to Have at Your Business

In the dynamic world of business, having the right team of experts is not just beneficial; it is essential for success and growth. For female leaders who are carving out their paths in business, marketing, or HR, knowing which experts to have on board can make a...

7 Tips for Asserting Yourself as a Woman in a Medical Workplace

7 Tips for Asserting Yourself as a Woman in a Medical Workplace

As a woman in a medical workplace, you have a lot of responsibility, not just to yourself but to other women who will come along after you. Asserting yourself in your workplace and gaining the respect of other employees and leadership is essential to a successful career. You have worked hard to get where you are, you don’t want to lose momentum.

Continue to grow with online leadership training and more. Follow these tips to assert yourself in the medical workplace.