Hello, lovely mompreneur!
First of all, can we take a moment to appreciate how amazing you are? You’re building a business while raising a family – it’s by no means easy. But I know what you’re thinking: How can I realistically grow my business while putting money aside for savings?
Don’t worry, I’ve got you covered. Let’s chat about how you can manage both goals without feeling like you’re stuck in a never-ending juggling act.
🪻Think of Savings as Self-Care
You know how we’re always told to put on our oxygen masks first? Saving money works the same way. It’s a little act of self-care for your future self.
Start small – maybe it’s setting aside 5% of your monthly income. Even if you’re just putting a few dollars into a savings account, you’re creating a safety net for yourself and your family.
Pro tip: Automate your savings so you don’t even have to think about it. Let those dollars sneak into your savings while you’re busy being a boss!
🪻Budget Like a Boss
Budgeting doesn’t have to mean spreadsheets and headaches. It’s just about knowing where your money is going.
🌺Business Budget: Focus on the essentials – tools that save you time, investments that bring in clients, and subscriptions you actually use. Beware of monthly subscriptions – no matter how small – that suck money out of your bank account, for services you don’t really use.
🌺Home Budget: Cut back on little expenses that don’t bring you joy (goodbye, random app subscriptions!) and direct that money to savings instead. That weight loss app you’ve only used once in the past 3 months might be draining money out of your account without you even realizing it.
🪻Reinvest with Purpose
As your business grows, reinvesting profits is key. But here’s the trick: don’t pour every penny back into the business. Set a percentage aside for savings first, then reinvest the rest into the things that really matter – like marketing, equipment, or hiring that extra pair of hands you’ve been dreaming about.
🪻Diversify Your Income Streams
If there’s one thing we moms know, it’s multitasking. Why not let your income do the same? Create a digital product, like an ebook or a course, to generate passive income. Offer consulting or freelance services in your spare time. The more income streams you have, the easier it becomes to grow both your business and your savings.
🪻Celebrate Small Wins
Every time you reach a savings goal or hit a business milestone, celebrate! Small wins will keep you motivated and remind you why you’re working so hard. Plus, they’re a great excuse to treat yourself – without derailing your savings plan.
🪻Learn to Say No
As moms, we’re natural givers. But when it comes to spending – whether it’s personal or business-related, it’s okay to say no.Skip the unnecessary purchases (like that shiny new salad shredder you probably won’t use). Politely decline social obligations that strain your budget.
Nowadays, we have lots of kids’ parties held in expensive restaurants and play centers, with the expectation that everyone attending pays their own entrance fee, as well as for food and drinks. This can prove to be a major expense if you’re invited to 10 of your child’s friends’ birthday parties. If you genuinely can’t afford it, politely decline the invitation and send a gift instead. Every “no” brings you closer to your goals.
🪻As we draw to a close, growing your business while growing your savings isn’t about being perfect – it’s about being intentional. Small, consistent actions add up over time, just like those pennies in your piggy bank or those little wins in your business.
You’ve got this, Mommy. Here’s to building a thriving business and a solid financial foundation – because you deserve both!
Let me know – what’s one step you’re taking today to grow your savings? Share in the comments; I’d love to hear from you!
XOXO
Nobsy Francisca 🌻