Optimal Relationships Daily - Dating, Marriage & Parenting

2174: How to Save Money as a New Mom by Amy Beardsley of Smart Money Mamas on Health Savings Accounts & Motherhood

May 17, 2024

10:17

Snipd AI

Financial expert Amy Beardsley shares valuable tips for new moms on saving money, including managing impulse purchases, meal prepping, and using health savings accounts effectively. She emphasizes the importance of prioritizing essential needs while maintaining financial stability. Additionally, the podcast discusses setting boundaries, meal planning, and navigating financial challenges as a new mom.

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Quick takeaways

Setting aside time for financial planning is crucial for new moms to relieve stress and make smarter money decisions.

Estimating and budgeting for childcare costs, negotiating flexible work arrangements, and prioritizing values are essential for financial preparedness as a new mom.

Deep dives

Setting Financial Boundaries and Priorities as a New Mom

As a new mom, figuring out how to save money can be overwhelming. The podcast suggests understanding your values and priorities early on to manage expenses effectively. By knowing what truly matters to you, like limiting clutter or opting for gender-neutral items, you can communicate these boundaries to others and create a budget that aligns with your values. Taking advice from experienced moms to avoid impulse buying, meal prepping, buying in bulk, and utilizing HSAs and FSAs also contributes to smarter spending decisions.

Introduction

3min

Financial Advice for New Moms: Essentials, Savings, and Returning to Work

3min

Navigating Parenthood with Values and Boundaries

2min

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Episode 2174:

Explore effective strategies for financial planning and saving as a new mom in Amy Beardsley's insightful guide. Discover practical tips on managing impulse purchases, meal prepping, and leveraging health savings accounts to make the most of your budget. This empowering advice ensures you prioritize your baby's essential needs while maintaining financial stability.

Read along with the original article(s) here: https://smartmoneymamas.com/save-money-new-mom/

Quotes to ponder:

"Making the choice to set aside some time and energy to make a financial plan will relieve so much stress going forward."

"Marketers know new mamas want the best for their children. They’re especially good at pressuring you into thinking you need things you don’t."

"Above all, focus on your values and what your child really needs - your love, care, and comfort."

Episode references:

Family Medical Leave Act information: https://www.dol.gov/agencies/whd/fmla

Health Savings Accounts (HSAs): https://www.irs.gov/publications/p969

Flexible Spending Accounts (FSAs): https://www.healthcare.gov/have-job-based-coverage/flexible-spending-accounts/

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