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Paying Now and Planning Ahead: Tips to Make Smart Money Decisions as a Mom

Be a super mom by saving, budgeting and spending wisely for your children


How do you know if you’re making the best smart money decisions as a mom? How do you balance your budget while also trying to provide for your babies? Well, you’re a super mom who is super good at making super hard decisions. You’re not alone, though! To help guide the way, Rock Valley Credit Union has some tips to help you make smart financial decisions so you can focus on your kids and worry less about money – no matter where you’re at on your parenting journey.

Babies and Bills

From the moment your baby comes into the world, you already have bills to pay. Whether it’s hospital bills, diapers or daycare, the early stages of parenthood can rock your world – and your finances.

Before baby comes, it is smart to estimate your medical costs, what your income will be while you’re on maternity leave and develop a budget for your new arrival.

As for things the baby needs, here are ways to help you save:

  • Consider buying from consignment stores. Babies are babies for such a short time! Often, an item you need has only been used a few times before and will likely be in great shape. Bouncers, highchairs, strollers, and clothes are great items to buy used.
  • Take advantage of flash sales. You can stock up and save or think ahead for next sizes and buy with room to grow. Keep an eye on deals and never pay full price if you can avoid it!
  • Skip the diaper bag. Diaper bags are marked way up, when really that Jansport backpack you already own has the right size and pockets for all your adventures ahead!
  • DIY your nursery! Pinterest is the perfect place for a little inspiration. Plus, this gives you a head start on all the crafts you’ll do with your littles over the years.

Join the (Savings) Club

While you focus on your finances, it’s important to set your baby up for success, too. Opening a savings account in your child’s name helps protect their financial future. Before they can make their own decisions about money, you can start building their very own nest egg. Even small amounts deposited will add up over time. When they’re older, having an established savings or checking account can teach them to plan ahead and save, focus on goals and priorities, and illustrate the value of money.

It's easy, too! You can get started today by opening a savings account with RVCU. Click here to apply online.

Life — and Sports — are Expensive

It’s your child’s dream to join the traveling hockey league, and moms make dreams come true. But how do you pay for those dreams when they come with a hefty price tag? If you’re worried about paying for equipment, hotels for travel weekends, or life on the go, consider a personal loan from RVCU to get you through the season. The low interest option gives you cash quickly and peace of mind so you can get to cheering from the stands!

Oh, and did hockey season lead to an unexpected trip to the orthopedist? Personal loans are also a great option to pay for medical bills.

Ready to score a winning goal? Click here to apply for a personal loan with RVCU.

Empty Nester and College Bound

College costs a lot. And we mean A LOT. Once your bouncing bundle of joy comes into the world, you might think you have time to plan for the expense. But as they say, “Don’t blink.” Soon, you’ll be an empty nester with a big bill for college. Now is the time to start planning for everyone’s future.

Do you need help? We have mom’s back. When you partner with our investment services team, our wealth managers get to know you before offering financial advice or developing a financial plan. We take the time to learn about your hopes, dreams, and concerns. Together, we’ll encourage your investments to grow for years to come – helping to make your family’s financial dreams a reality. Learn more and schedule a free consultation with the Rock Valley Investment Services team today. Click here to learn more and schedule your visit.

Also, thank you Mom. We’d be lost without you.