Kids Ain't Cheap

But They Sure Are Worth It

Tips for Ensuring a Cost-Effective Home Build for Your Family

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A home is the most important investment you can make for your family, and also the biggest one. However, it’s a good idea to try and save costs if possible so you have some funds left over when all is said and done. Here’s how you can enjoy a cost-effective home build for your family and get amazing results at the same time.

Work With Professionals

While this may sound strange, you can make savings by working with an expert rather than cutting corners and working with cheaper but inexperienced people. This is because when you have your work done by an expert, they will often get it right the first time and in the easiest way possible. When you don’t have to redo work that’s been done already, it’s obvious that you will spend less money. For the best results, work with a team that has a project manager, whose work is to oversee all the phases of a construction project and make sure that the job gets done on-budget and on-time for the very best results.

Go With a Simple Design

A complex floor plan and an overall design that’s complicated can see you spending more money than you would have had to spend on a simpler one. This may be a result of the need for additional materials, more expensive pieces, or unique labor demands that call for specially-trained people. You will find that a simpler design will be faster, easier, and more affordable to complete. If you want to spice it up and give it an edge, you can always add some fun features with a future upgrade or look for topical additions you can make to improve both the function and aesthetics of your new home.

Shop For Deals

Another way in which you can make savings while building your home is by shopping for deals and asking for discounts whenever you buy. For this, you will need a lot of time because, while you can predict seasonal sales, you cannot always predict flash sales and similar ones. Leave ample time to buy the materials you need, therefore, and you will enjoy saving an impressive amount of money on purchasing parts and pieces.

A recent report by the Bank of America Homebuilders said that while the pandemic is expected to have a little impact on buying patterns, just around 18% of the respondents surveyed said that Covid-19 potentially acted as a catalyst for moving. All the same, there was little difference between those living in urban areas when compared to those in the suburbs. So, no matter where you live, look out for deals that help people moving and building their own new homes like yourself!

Set a Budget and Stick to It

This tip may have been repeated so often that it has almost become a cliche, but there’s a lot of help you can get from it. When planning your project, take the time to write a budget and work hard to stick to it. You can do so by avoiding changing things while working, as this is a major reason why construction gets expensive. Also, reuse and recycle, as you can get good use out of something that’s not brand new. As a plus, you will also leave a smaller effect on the environment.

Buy Modern and Energy-Saving Appliances

Finally, when looking for appliances, shop for energy-efficient ones that will give you better service over time. Consider this an investment for the long term, as you will spend less on energy than you would have spent if you used less energy-efficient appliances. Shop for appliances with the Energy Star label, which denotes high energy efficiency. They will use 10-15% less water and energy than standard models will.

Use these tips and you will enjoy saving money while building a home that you and your family will love for a long time to come.

How to Plan a Kid-Friendly Wedding on a Budget

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Kids can make any event fun, especially one that’s as focused on family as a wedding. It’s important to make sure that yours is kid-friendly if you plan on involving kids. Read on to see how you can plan a kid-friendly wedding on a budget.

Set Up a Kid’s Table

With the average wedding hosting 131 guests, according to The Knot, there will possibly be fewer kids than adults at your wedding. Once you have a good idea of how many kids will attend, set a table where they can sit by themselves, without the adults. Doing this will help them enjoy the wedding a bit more as they will be amongst their peers, with whom they can freely interact. While they may get up to mischief, you can minimize the chance of disruptions by giving them some activities to do at their table, based on some tips below.

Get Child-Friendly Entertainment

Find out the average age of the children who will be at your wedding and plan for age-appropriate entertainment for them. This could be something as inexpensive as hiring a magician or caricaturist to keep the kids busy while the more serious parts of the wedding are in progress. You will have the room you need while the kids enjoy their entertainment in a way that keeps both adults and children happy while separate from each other.

Have a Few Lawn Games Ready

With an 11% increase in the number of outdoor weddings in 2020, you could be even more kid-friendly if your wedding is also an outdoor one. Including lawn games is a sure way to make things fun for kids at a wedding, given the high energy levels that most kids have. From giant Jenga and corn hole to lawn golf and even hanging up a piñata, there are endless fun options available for you. Rather than run around between guests, they will stay happily engaged in the games and have an amazing day full of fun.

Organize a Scavenger Hunt

You could come up with a creative scavenger hunt to keep all the kids occupied from the start of the wedding to the end. Having something to focus on will make time go much faster for kids at your wedding, and rather than get bored, they will have an amazing day working on the clues on the sheet. The adults at the wedding will also enjoy the freedom they will get to be fully immersed in the event, so it will be an all-around wholesome and fulfilling day.

Give Personalized Favors

Finally, end the day with personalized favors, some for adults and some specifically for kids. With the average budget for only the reception and wedding ceremony being $28,385, you don’t have to get anything that’s over-the-top. Crayons in a cute package or charms and toys will work well, depending on the age of the children in attendance. If there are vastly different age groups, you could even get different favors for each age group. Doing this will help make your wedding an amazing and memorable event for absolutely everyone who attends.

Follow these tips and you will be able to plan for and execute an amazing kid-friendly wedding on a budget. Everyone will enjoy the thoughtfulness that goes into planning such a wedding and they will likely talk about it for a long time to come. Plan well in advance so you can get the best outcome and have something for everyone!

4 Steps to Make a Move Smoother for You and Your Kids

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Gone are the days when people lived all their lives in the same small community in which they grew up. Now, people move frequently and across vast distances. On average, Americans move 11 times in their lifetimes. I’ve moved many times, the most recent a 2000-mile move occurring nearly eight years ago. My husband and I are preparing to move our family again, but this time we’ll utilize four steps to make the move smoother for us and our kids.

Find a Realtor Before You Move

If you plan to buy a house in your new locale, find a realtor before you move. When we moved cross-country, we found a realtor and worked with her long-distance. She was essential in helping us understand the lay of the land and what suburbs would be the best fit for our family.

Visit Before You Move

I highly recommend visiting the new area before you move. My husband and I did this about two months before we moved. He was able to meet and talk with his new co-workers. We also were able to meet with the realtor and see potential houses. Though we didn’t buy a house at that time, the realtor had a much better idea of what house layout we were looking for, and we were able to narrow down the specific neighborhood we wanted to live in.

Once we moved, we bought a house and were able to move in within a month.

Research, Research, Research Before You Go

When we moved previously, I put a lot of time and energy into finding a house but nothing else. However, as we prepare to move again eight years later, I am still researching homes, but I’m also researching more.

Now, I’m researching potential dentists, orthodontists, doctors, and extracurricular activities for my kids. When we move, we want to be able to get started immediately with our new life in a new location. Last time we moved, finding these services took a few months. This time, because I’ve done the research ahead of time, I’m hoping that we’ll be able to jump right into our new life. I would like to have the kids enrolled in their extracurriculars within the first few weeks of relocating.

Join Local Facebook Groups

Steps to Make a Move Smoother for You and Your Kids

Finally, before you move, join local Facebook groups in the new area to ask questions and get a feel for the community.

We homeschool, so I’ve joined several homeschool groups. I ask about homeschool co-ops and available activities, what suburbs people prefer to live in, etc. When we move, the kids will already have groups they can join.

I’ve also joined some mom groups specific to the area.

Another fun group to join is a bucket list or scenic group for the area. You’ll learn about the best places to visit, hike, and explore in your new state.

Final Thoughts

Moving to a new location can be exciting and nerve-wracking. Reduce your nervousness by taking these steps to make a move smoother for you and your kids. In no time, you’ll fit into your new location, and it will feel like home.

Read More

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Things to Consider Before Moving

Can You Homeschool and Work from Home?

Cost-Effectively Enhance Your Landscaping With New Greenery and Furniture

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When you want to cost-effectively enhance your yard for the family and entertain, there are many ways to do this. You can create a space in small places, choose native plants and trees, keep the soil healthy, prevent runoff, and add specific features. Let’s review some simple ideas to begin the process.

Create a Special Space For Small Yards

When you have a small yard, you can still add some landscaping features to enhance your yard. Design a garden with potted plants on your porch or deck or design a small area for entertaining with outdoor furniture and plants. In small gardens, you can install a small water fountain or feature that adds to the ambiance. Many water fountains are self-contained, and the water is recirculated with a pump. Dining outside with a fountain or running water is relaxing and reduces stress. When you want to add a patio, use pavers to create an area for entertaining family and friends. Plant a garden that is easy to maintain and does not require much maintenance. Talk to your garden center to get ideas.

Plant Native Plants and Trees

Planting native flowers, shrubs, and trees is good for the environment. They are easy to grow and often are easier to care for. They adapt well to the local weather and often thrive. Often, native plants attract birds and insects that help the environment. Native trees often have fewer problems with growing than ones not from your region. When you plant native plants, you add appeal to your property and increase the value by about 15%. When you plant trees for privacy, it increases the value by about 20%. These plants need less water and do not need added nutrients added to the soil to thrive. These plants may be less expensive and more affordable when you buy them and often add beauty to your yard, too. They create privacy and reduce noise.

Add Special Features and Eco-friendly Furniture to Your Yard

Add a walkway to your garden, add a birdbath or bird feeder to attract birds and small animals. Outdoor entertainment is often more inviting when you add elements to your outdoor space. Add outdoor furniture for entertaining, made of teak, recycled plastic, and bamboo. You can find tables and chairs made with sustainable wood, loungers and other easy-to-use furniture for your specific needs.

Your family will enjoy the comfortable outdoor furniture when you serve dinner or entertain guests. To add shade to your outdoor space, you can have an awning installed, a constructed overhang, or a pergola. All these supply shade to areas that have no protection. Over 60% of homeowners said they did not use outdoor spaces because they lacked protection from the elements. Adding this feature will give you a chance to spend more time outdoors in privacy.

Keep the Soil Healthy and Prevent Runoff

Have your soil evaluated at a local garden center or university agricultural center to find out what it needs to improve in quality. It may need compost, fertilizer, and mulch to improve the condition. This will help you to grow local plants better. Aerating your lawn and property once or twice a year to put small holes in the soil to allow water and nutrients to get to plants. Prevent erosion by planting a hill or grass or ground cover that prevents erosion.

Use gravel or stone pathways that allow rain to go into the ground. Collect water in a outdoor rain barrel to use for watering plants and your lawn. Keep your yard raked and free of leaves, twigs and debris. Planting trees and shrubs in the right location in the yard can reduce energy bills for air conditioning by about 25%, so be strategic when you plant new items on your property.

These are some tips to add cost-effective landscaping to your yard and eco-friendly furniture. Your local garden centers can help you get started on creating an outdoor space for family and friends.

Frugal Camping: Use What You Have!

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Frugal Camping

Some of the best memories of my childhood are when my parents, brother, and I would drive a few hours north and spend about four days camping with our extended family. I have over 30 cousins, so there was plenty of fun to be had. We went swimming, scared each other at night, and even saw a bear roaming the campsite one night. Taking a camping trip can be a frugal way to have a summer vacation and get away from all the stresses of modern life.

Camping Basics

Camping is something that can be as simple or as elaborate as you want. Planning a weekend camping trip with your family should definitely be kept simple. Don’t overcomplicate things when kids are involved.

When I talk to my non-camping friends, a lot of them are turned off by the volume of stuff required to do it. However, camping doesn’t have to be that way. By opting to stay at an established campground for a small fee (versus trekking into the woods yourself and popping a tent),  you’ll save a lot on both things you need and time.

Campgrounds offer bathrooms, water, and, when needed, electricity. It is 2021 after all, and most of us have a device or two that needs a recharge. Some larger campgrounds even have extra amenities like laundry, playgrounds, and pools which, when you have kids, can be a blessing.

What You Need to Buy

Frugal Camping

Photo by Tommy Lisbin on Unsplash

To plan your weekend away, you don’t need much. If you don’t already have access to one, you really only need to acquire a tent, possibly a tarp if you think you may need coverage for your site, and a cooler for your food.

You don’t really need sleeping bags or air mattresses; just layer a bunch of blankets and pillows on the bottom. Even though they can be nice, you don’t really need things like camping stoves. However, we do use our camping stove a lot when we camp. Yet we could manage just fine with a decent fire, a cast-iron skillet, and tin foil to cook all of our food.

Frugal Camping: Use What You Have

You can get away with using a lot of things you already have, which is what makes camping such an easy thing to do. Blankets, pillows, utensils, and cooking the food you already bought make camping a cheap option for family fun.

When we camp as a family, we bring food from home that’s easy to cook over a simple flame (you’d be amazed what you can create in a tin foil package) or bring food that’s prepped ahead and warmed up (think stew or chili). We usually replace our ice daily, and if we don’t have firewood from home, we buy it from the campground. (Another bonus to staying on the ground.)

Camping Brings Us Back to Basics

What I love about camping is the simplicity and, at the same time, the complexity of it all. We cook all of our food and then spend time washing and drying our dishes for the next meal since we don’t have access to a dishwasher and only have access to enough dishes for one meal at a time. Camping helps keep us grounded.

Final Thoughts

Camping is a great way to seriously relax. Yes, I bring my cell phone but I really only use it for picture taking and emergency calls. Social media is turned off- it’s almost sacrilegious to do in the wilderness. It is a great way to really connect with friends and family lazing around on a sunny afternoon or catching up while roasting marshmallows at night. (Again save the fancy metal roasting sticks and use a legit branch; the dirt won’t kill you!)

Do you camp with your family? How do you keep it simple?

Read More

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Cheap Ways to Childproof a Condominium

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Childproof a Condominium

When baby starts crawling and walking, you may feel like you don’t have enough eyes to keep track of him. Babies this age love getting into cabinets and putting things into their mouths. They love to explore. While these traits are good for babies’ growing knowledge, it can also put them in danger, sometimes mortal danger. However, there are cheap ways to childproof a condominium that will help keep your baby safe and help you maintain some control over his environment.

Cheap Ways to Childproof a Condominium

If you’re trying to save money or be frugal when childproofing, you’ll be happy to know you can start with the free fixes first.

Free Ways to Childproof

Consider Baby Safety Before You Buy

Childproof a Condominium

Photo by National Cancer Institute on Unsplash

If you even remotely are considering having a child when you are condo shopping, the best thing you can do is find a child-friendly condo layout. That means finding a condo that doesn’t have a large balcony that over looks the living space. (Trying to childproof an upstairs railing can be a nightmare!) Likewise, open concept plans may be more difficult to childproof because you can use doorways to separate off areas.

Rearrange Your Cupboards

Once your child starts becoming more mobile, it’s time to rearrange your cupboards. In the lower cabinets, put things like pots and pans. If baby gets into these items, no harm done. You’ll want to move any glass containers or lids to higher shelves.

Put Up Dangerous Items

Many people keep cleaning chemicals under their kitchen sink. A better place for these might be in a higher cupboard so you don’t risk your child getting into them and accidentally getting poisoned. Automatic lighters and other potentially dangerous items should all be put up. Out of sight, out of mind.

Keep Furniture Away from Windows

The next free thing you can do is keep furniture away from high windows. If your child’s bedroom is on the second floor or higher, be sure to keep the bed and dresser away from the window. This step makes it harder for your child to inadvertently fall from the window since she has nothing to climb.

Tie Up Window Blind Cords

Window blind cords create a real danger for young children. In a study by The Center for Injury Research and Policy at Nationwide Children’s Hospital, researchers “found that over 26 years emergency departments treated almost 17,000 children for strangulation from window covering cords.  Of those cases, 271 children died” (Today.com).

Sure, you can buy expensive cord binders, but check out Pinterest for a way to make a free cord binder. All you need is a light piece of plastic that you probably were going to throw in recycling anyway and a pair of scissors. This idea is ingenious!

Bath Seat

Don’t feel the need to buy a special bath seat for when your little one takes a bath. Instead, place your child in a laundry basket in the tub when giving her a bath. She can stay seated in a smaller area, so there is less chance of slipping or falling.

Low-Cost Options

After you exhaust the free options, there are several low-cost ways to childproof your condo.

Tennis Balls on Sharp Corners

Little ones can often lose their balance when just learning to walk, so cut the side of a tennis ball and stick it on the sharp corners of tables and other items like the hearth of the fireplace.

Elastic on Handles

To keep cabinets with handles closed, put rubber bands around the handles. Double twist to make sure the doors stay securely closed.

If you have cabinets without handles, either install handles or you can buy inner door latches. These run about $1 a piece.

Plastic Container Around Power Cords

If you have a power strip you want to babyproof, you can take a cheap plastic tub, put the power strip inside, and cut a hole on the side for the cords. See full instructions and image on Pinterest.

Hairband Around the Toilet Paper Roll

Childproof a Condominium

Remember the fun age when toddlers delight in unrolling ALL the toilet paper on the roll? End that habit with a rubber band around the toilet paper roll.

Band-aids over Electrical Outlets

If it will be a few days before you can get to the store, you can cover electrical outlets with band-aids. However, your baby will likely figure this one out quickly, so eventually you’ll want to buy electrical outlet plug covers. These are very affordable at only $6 per 24 pack.

Door Knob Covers

There may be some rooms and closets that you just don’t want your child to get into unattended. For those rooms, consider door knob covers. These are easy for parents to use, but little ones usually can’t figure them out until at least the preschool years.

DIY Baby Gate

If there is a doorway you want to keep baby from going through, you can create a DIY baby gate. You’ll need two tension rods and fabric. True, you’ll have to invest some money into this project, but the overall cost is much cheaper than metal, store-bought baby gates. Plus, these are softer.

Air Vent Protection

If you have air vents on the floor, your child may be unable to resist dropping items down the slats. Prevent this by putting fabric tulle under or over the air vent. Air can still flow through unobstructed, but your child will no longer be able to put things through the cracks.

Final Thoughts

These are just a few of the cheap ways to childproof a condominium. While you won’t have to spend a fortune childproofing, you will likely need to buy some supplies. There are free childproofing fixes, but you’ll also probably have to buy some of the low-cost supplies to truly keep your child safe. But don’t worry, in a few years, childproofing will be a distant memory as your child gains more independence and learns what’s safe and what isn’t.

Read More

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Teach Your Child About Money – Free Savings Chart for Kids

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Free Savings Chart for Kids

One of the most wonderful gifts you can give your children is a healthy understanding of money. Not a craving for it or an assumption that it will lead to happiness. Instead, you have the privilege – the responsibility – to teach children about hard work, the power of saving, the dangers of debt, and the gift of giving. To help your children learn, we’ll also set you up with a free savings chart for kids.

How to Teach Your Child About Saving Money

Many people are in crisis mode, financially. It’s impossible to know what they learned or didn’t learn about money at home, but would America look different if more parents taught their children the principles I listed above? What if more parents led by example by communicating together about a budget, saying no more often to frivolous spending, and showing their children how to save up and pay cash instead of using credit cards?

It’s purely my speculation, but I’d go so far as to say we’d have less stress, less divorce, fewer addictions, more giving, and greater job satisfaction. Do you agree?

With the right steps, we can teach our children to live differently.

What About Student Loan Debt?

Free Savings Chart for Kids

Photo by Alexis Brown on Unsplash

You’re probably thinking, “What about student loans? I was just trying to further my education and now I’m overwhelmed by debt as a result.” Totally valid point. I remember approaching high school graduation and hearing everyone discuss their reasons for choosing one school over another. NOT ONCE did my friends and I stew over the debt load we’d receive from student loans. None of us saw what was coming.

In fact, according to StudentLoanHero.com, outstanding student loan debt reached more than $1.64 trillion in 2020.

How can we teach our children to save money in the face of such a burden of debt?

Start the Conversations

A great way to educate your young tribe about the dos and don’ts of spending is to create an open line of communication. Encourage them to ask questions. Show them the process of paying for your groceries or a meal at a restaurant. Take them to the bank and show them how you make a savings deposit.

Also, a conversation is a great way to tackle topics like:

  • Work ethic
  • Getting a job
  • Planning for the future
  • Saving for a major purchase
  • Saving for college (tell them about the ways you are saving for their college while they’re young)
  • Integrity
  • Greed
  • Envy
  • Contentment
  • Generosity

You don’t have to run down this list every night at the dinner table, but the more conversations you do have about these topics, the more seeds your planting in your child’s mind. You’re teaching her how to think about money, not what to think.

Put Them to Work

Free Savings Chart for Kids

Photo by NeONBRAND on Unsplash

We’ve covered the important step of talking about money. Next, it’s time to apply what your child has learned. If he’s old enough to hold a broom or to straighten up his room, your child is old enough to get paid for chores.

It’s important that he knows the money isn’t just for spending. Saving is a difficult concept for young minds, at first, unless they have something for which they’re saving. For example, if your daughter sees a Belle doll in the toy aisle and begs for you to buy it, you have some choices. You can purchase the doll, you can discuss the cost and why it’s not in the budget, or you can write down the dollar amount on a paper, head home, and help her calculate how many chores it’d take to save for the doll.

To aid in that endeavor, here are some free tools you can use with your child.

Free Savings Chart for Kids – and Other Great Savings Tools

Printable Savings Chart for Kids – via CouponsAreGreat.net

Downloadable “Share, Save, Spend” Chart for Kids – via iMom.com

Printable Savings Thermometer Chart – via Frugal-Mama.com

52-Week Money Challenge for Kids

Printable Play Money for Kids

Final Thoughts

Combine a free savings chart for kids with some great conversations and hard work around the house.  You’ll be setting the stage for great financial decisions, which will hopefully follow your children into adulthood!

Got some tips for teaching children to save money? Share one below!

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Making a Memory: 5 Fun and Unique Senior Portrait Ideas

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By the time a high school student becomes a senior, they’re ready to reflect on their hard work while looking forward to the future. The right senior portraits can capture those feelings and preserve them forever.

However, without going in with a plan, senior photos can turn out awkward and uncomfortable looking. So what can you do to make the photoshoot as painless as possible?

Keep reading to learn about five different senior portrait ideas that’ll eliminate awkwardness and make a senior feel confident and comfortable.

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How to Create a Digital Vision Board

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Digital Vision Board

Have you set goals for yourself?  Would you like to utilize a strategy to make those goals reality more quickly?  If so, a vision board may be just what you need.  Since most Americans are on their electronics most of the day, a digital vision board may be even more helpful.

How to Create a Digital Vision Board

Creating a digital vision board should only take an hour or two, but its impact should influence you for the rest of the year.

Determine Your Goals

The first step is to determine your goals.  What do you want to accomplish over the next 12 months?  What is working successfully in your life that you want to maintain?  What inspires you?

Make a list of seven to ten goals and items in your life that you want to maintain.

Then, it’s time for the fun—actually choosing the images for your vision board.

Choose Your Digital Vision Board Images

The next step is to find images that best visualize what you want to achieve in your life.  For instance, if you want to graduate from college, you may have an image of a woman in a cap and gown posing with her children.  If you want to cook at home more, you may have a picture of a luscious homemade meal or a woman cooking.

Pick at least one picture for each of your goals, though you can pick more if you’d like.

In addition, you may want to add in a few inspiring quotes to keep you motivated throughout the year.

Where to Find Images

When you’re looking for images, the best place to start is Pinterest.  Because there are so many pictures there, you can really find one that speaks to you and is unique to your own goals.  You can also find motivational quotes here.

While you’ll likely find all that you need on Pinterest, if you don’t, you can go to a place like Unsplash and find images there.

Digital Vision Board

Photo by Danielle MacInnes on Unsplash

Remember, you can also use your own personal photos.  If one goal is, “take a family vacation,” use a picture of the family on your last vacation as motivation.

How to Put the Digital Vision Board Together

Finally, to put the digital vision board together, go to Canva.  (It’s free!).  Once you’re in Canva, click on “Create a Design” and choose “Desktop Wallpaper.”

Next, upload all of the photos and quotes that you have chosen.

Click on “Elements” in the side bar and type in “grid.”  Then choose the grid pattern you would like and starting arranging your pictures.

Final Thoughts

For years, athletes have used visualization to help them perform better.  When you visualize something repeatedly, you’re more likely to achieve that goal.

By placing a digital vision board somewhere you will see it repeatedly throughout the day, say on your desktop, you’re subconsciously reinforcing the vision of your future and your likelihood of making that vision a reality.

Read More

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Loans for Stay-at-Home Moms – What Are Your Options?

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Borrowing money is as commonplace in today’s economy as choosing your next meal. Many use it in daily life – whether it’s choosing a vehicle, a college, or a purse. But is it healthy? Also, do loans for stay-at-home moms even exist? Let’s take a look at your options in today’s article.

Loans for Stay at Home Moms

Loans for Stay-at-Home Moms – a Breakdown of Your Options

I used debt regularly the moment I reached adulthood. My entire effort was to ultimately raise my credit score.

However, my focus on debt became one of my biggest stumbling blocks for becoming a stay-at-home mom, years later. I honestly didn’t think I’d ever make it because debt was holding me back.

I’m not saying you can’t ever use debt, but I want you to know what my experience taught me. Also, as a financial coach since 2013, I’ve seen the underbelly of loans and debt.

So let’s take a look at when it might make sense to borrow money and when it might not.

Can Stay-at-Home Moms Borrow Money?

It’s a valid question. If your income is $0, then what creditor will believe that you’ll pay them back? Here are a few options (none of which are guaranteed):

Consider Household Income

Find a lender who will consider your household income. Even with my decent credit score, lenders weren’t remotely interested in loaning me the money for our first house until they saw my husband’s full-time income. If you’re a stay-at-home mom, then you’re already living off someone else’s paycheck – likely your spouse’s. It’s best to go forward with any major financial decisions – particularly debt – together.

0% Interest Cards

Apply for a credit card with 0% interest. Try to find one that promises no interest for at least 12 months or more and read the fine print!  It’s especially important to look at what the transfer fee will be if you’re transferring old debt to pay off.  (Typically, transfer fees are 3 to 5% of the total amount you transfer to the 0% interest card.)  You will also want to consider what the interest rate will be after the introductory 0% phase in case you aren’t able to pay it off within that time.

You will still need to declare your household income to be approved, but this will likely give you a lengthier time to repay a debt (i.e. medical bill or personal debt).

Collateral

Ask about collateral. If your name is on something of value (i.e. a vehicle), you may be able to use it for a loan.  However, be forewarned that if you’re not able to keep up with the monthly payments, you can lose the item you put up for collateral, so in general, choose this option as a last resort.

Most importantly, make a clear plan for your budget to pay this debt off as quickly as possible! The average household has $16,748 in credit card debt. So many families let that final step slide and become buried. That doesn’t have to be you!

When Loans for Stay-at-Home Moms Might Make Sense

There are some instances where loans for stay-at-home moms make sense.

Mortgages

Loans for Stay at Home Moms

Photo by Colton Sturgeon on Unsplash

If you wish to buy a home but don’t have six figures in cash at the moment, that’s understandable. Taking out a mortgage does include its share of benefits:

  • Accrued equity
  • Resale value
  • Options for shorter and more accelerated payoff plans (saving thousands in interest)

Medical Payment Plans

Perhaps you’re an at-home parent facing a medical procedure that’s more than you have available. The billing company often provides structured payment plans (often interest free) allowing you to pay off that debt over time.

Debt Alternatives for Stay-at-Home Moms

While accumulating debt makes sense in some cases, often avoiding debt is the best thing to do.  As my husband and I began our journey out of debt, we had to find new alternatives to paying for every purchase. Here are a few primary habits we still practice today:

Adjust Your Standard of Living

If you’re used to buying nicer decor, vehicles, clothing, and vacations and placing them all on credit, then it’s likely snipping the card won’t be the only important step. You may need to reduce your clothing budget, take a staycation, or live with your current decor longer than normal.

Create a Sinking Fund

Loans for Stay at Home Moms

Photo by Naomi Hébert on Unsplash

This was a big one for us. Sure, it’s easy to say we’ll pay for things in cash, but putting in the actual work is difficult. For example, one day, you’re going to open your refrigerator and it’s going to feel like warm, sunny day instead of the icy Arctic. That’s an expensive fix, but also an inevitable one. By placing chunks of money into a savings account every month, you’re preparing for the cost of keeping that food cold again one day.

Build an Emergency Fund

Contrary to the sinking fund, the emergency fund is there for the big, ugly, unexpected moments. Your transmission may decide to self-destruct. Tragedy may strike an out-of-town friend or relative. You’ll want the funds ready to transport you quickly to your destination. An emergency fund has prevented my husband and me from going into debt, time and time AND TIME again.

A good way to start building your emergency fund is, frankly, to get a job.  If you like this idea, but don’t know where to get started, the savvycouple has a good listing of legitimate jobs for stay at home moms.

Your Takeaway

Knowing your options is one of your most powerful tools in your financial toolbox.

If you’re more inclined to choose a debt-free route for your family’s finances in the future but aren’t sure where to begin, Laura Harris has created a financial roadmap for moms just for that reason. “The Stay-at-Home Mom Blueprint” is an eBook designed to help anyone seeking the steps to financial freedom to spend more time with their family.

Paperback-Book-Small-Spine-Mockup

What’s included?

  • 150 strategies to slice debt, save money, communicate in healthy ways with your spouse, sell your household goods, earn a side income from home, and successfully develop a budget.
  • Harris’ story of overcoming debt and sloppy spending to become debt-free and achieve her dream of staying home.
  • Dozens of additional resources to equip you on your financial journey.

Ready to take a closer look at “The Stay-at-Home Mom Blueprint”? Click here for more info.

Join the Discussion: Do you believe debt is a useful tool to be used in daily life or as infrequently as possible? Do you land somewhere in the middle? Share your perspective in the comments below!

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