Dmitriy Melnikov, Fotolia
Seven out of 10 moms reported feeling overwhelmed by financial burdens in a study by Chase Blueprint. Here are seven suggestions that The Dollar Stretcher, a frugal living website, offers to deal with financial stress that mothers face.
Live within your means
Learn to recognize what you can go without. While the newest trends and technology can be fun, they are also pricey.
"Financial security is not about income, it's about control," Rachana Bhatt, marketing director of the Chase credit card division, told The Dollar Stretcher. "Having a plan in place gives you a sense of control and confidence."
Personalize your bookkeeping system
Whatever it is, just make sure it works for you. Bookkeeping allows the mom to visualize where the money is being spent. Forty-three percent of moms reported using mobile banking, which allows on-the-go, daily banking.
Stay on top of credit
While saving 20 percent off of an initial purchase by signing up for a store credit card may seem appealing at the time, having multiple cards ruining credit is not.
Work with your partner to teach your children
Ann Lundberg, vice president of sales for CafeMom, said parents who have the same plan can pass on financial responsibility to children.
"The numbers suggest that not agreeing is one of the biggest barriers to financial security," Lundberg says. "If you disagree with your partner, how can you control your own plan?"
Talk with other moms
Find out what has worked for your friends. Talk to them about your plans to receive feedback.
- Rebate or tax credit? Clean air proposal...
- Customers wait all night, get new iPhone 6
- Review: Larger iPhones eliminate reason to...
- Guilty verdict in peanut trial should send...
- Dave Ramsey says: Tips for stretching dollars...
- Yellen says US families need to boost savings
- Riverton Hospital expansion aims to meet...
- Phone lines are open: Customers camp out for...
- Yellen says US families need to boost... 10
- Financial interventions don't work 7
- Salt Lake City is now 'Ski City USA' in... 5
- Extended warranties a big sell. Are... 4
- PepsiCo latest sponsor to voice NFL... 4
- Customers wait all night, get new iPhone 6 4
- FedEx to add 50,000 seasonal jobs 2
- Where’s the app for an earthquake... 2