Hello!

I’m a mum of 4 children and am struggling with saving money, I try to put money aside for emergencies plus things for the kids. What are your tips on putting away money and keeping it there?


Want more real mum questions sent to you?

You'll need to check this email to complete your signup.
  • Set up and auto transfer of a nominated amount that way you are saving without feeling it. You’ll be surprise how quick even a small amount weekly can accumulate to


  • Jon your local buy nothing group on Facebook. You can give and receive fantastic things. This is a good time to look at what you really need in your household. Look at what’s important to you and use your values to guide you. Find local markets to buy fruit and veg and go just before they are closing. Often they will discount heavily. Then plan your meals around what you were able to get.


  • Shop for second hand items and clothing. These are usually still in good condition.


  • Agree with some of the other posters, open a savings account that is not readily available for withdrawal


  • Opening a Savings Bank Account that you don’t have a card for and the only way to withdraw money would be going into your local branch.


  • My tip is to repair things if you can instead of replacing.


  • An account you can’t easily withdraw from. Deposit a set amount each week, no matter how big or small.


  • I went with the envelope system for a while. That worked really well as I had money aside for specifics when I needed it. Everything seems to have gone up in price at once, I am sure there are many people in this same situation. We all need to know some better money management skills. I hope it works out for you.


  • I agree with @TraceyGail about an online account having higher interest rates. Some online accounts lets you have separate goals or purposes like emergencies, vacation, retirement, etc. all in a single online account. Another money-saving tip I got from a friend is to download a mobile app that lets you input ingredients you have on your fridge, then the app can suggest recipes of meals you can make with them.


  • Write out a budget so you know exactly where your money goes. If you have a mortgage, make sure you have an offset account, and all your income goes in there. You’ll pay less interest on the loan.


  • Having money- even a small amount – automatically transferred to a high interest account each month quickly adds up. Especially if you can avoid touching it except in dire emergency.


  • An online account is always good. You don’t have a card to access the money, you can only get to it by transferring to your main account. This way you tend to not touch it. They often have better interest rates too with no restrictions like term deposits. Currrently 5% for 4 months at NAB. Watching it grow is a big incentive.
    Cut out unnecessary items like soft drinks and bottled water. Meal plan and cook snacks to freeze.
    Like many others said, borrow The Barefoot Investor from your local library.


  • We found the Barefoot Investor books to be useful tools.


  • We plan and organise everything in this household. We meal plan and only buy food according to the plan and food budget. We have a planned budget for everything; spending, bills, outings, savings etc. It is a good idea to read some books on finance. These can be borrowed from your local library.


  • always put aside a set amount/percentage of your income accroding to your income frequency, and then budget the remaind funds. set up direct debits if or may you forget to do it.
    always shop for discounted items when doing shopping.


Post your reply
Add a photo
Your MoM account


Lost your password?

Enter your email and a password below to post your answer and join MoM:

↥ Back to top

Thanks For Your Star Rating!

Would you like to add a written rating or just a star rating?

Write A Rating Just A Star Rating
Join