10 Money Myths That All Mums Should Ignore

10 Money Myths That All Mums Should Ignore

Raising kids is tough, it’s messy, and it’s expensive! But here’s the thing: many of the things we think we “have to do” as mums are myths. In this post, we’ll debunk 10 common money myths for mums that can drain our bank accounts and leave us overwhelmed and stressed.

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Money Myths That All Mums Should Ignore

Mums, let’s get real for a minute. Raising kids is tough. It’s exhausting, it’s messy, and it’s expensive. But here’s the thing: many of the things we think we “have to do” as mums are myths. That’s right, myths. And the worst part? Believing these myths can drain our bank accounts and leave us overwhelmed and stressed. So, let’s debunk some of these money myths, shall we?


Myth #1: You need to have a perfect home to be a good hostess

Listen, mums, we all know that raising kids is messy. Toys on the floor, dishes in the sink, laundry piled up…the list goes on. But here’s the thing: your guests are coming to see you, not your house. So, don’t stress about having a spotless home. Instead, focus on making your guests feel welcome and comfortable. Offer them a drink, show them where the bathroom is, and let them know they can relax and make themselves at home. Trust me; they’ll appreciate your hospitality, messy house and all.


Myth #2: You can’t save money while raising a family

Sure, kids are expensive. But that doesn’t mean you can’t save money. Being mindful of your spending and setting financial goals can help you save money. Start by creating a budget and tracking your expenses. Look for ways to reduce your expenses, such as cutting back on eating out or cancelling subscription services you don’t use. And remember to find ways to increase your income, such as taking on a side hustle or asking for a raise. Every little bit helps.


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Myth #3: You need to buy new clothes for your children every season

Raise your hand if you’ve ever bought new clothes for your child, only to have them outgrow them before they even get a chance to wear them. Raises hand, Yeah, I’ve been there too! But here’s the thing: you don’t need to buy new clothes every season. Instead, consider shopping secondhand or swapping clothes with other families. Not only will you save money, but you’ll also reduce waste. And who knows, you might even score some cute outfits for your kids.


Myth #4: You can’t take a vacation with your family on a budget 

Vacations can be expensive. But that doesn’t mean you can’t take a trip with your family. Consider taking a road trip, camping, or exploring local attractions. Look for deals and discounts, and plan your trip well in advance to save money on flights, accommodations, and activities. And don’t forget to pack snacks and activities to keep your kids entertained on the trip. A little planning can go a long way.


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Myth #5: You need to buy expensive educational toys and programs for your children to succeed

We all want our kids to succeed. But here’s the thing: expensive educational toys and programs are not necessary for your child’s success. Children can learn and grow through everyday experiences and interactions, such as playing with friends, exploring the outdoors, and reading books. Focus on providing a loving and supportive environment for your children to thrive in. And who knows, you might even learn a thing or two from your kids along the way.


Myth #6: You need to buy organic everything for your family’s health 

We all want to provide our families with the healthiest options possible. However, buying everything organic can be expensive and may not be necessary. While it’s great to prioritise organic options for produce and meats known to have high levels of pesticides or antibiotics, it’s also important to consider alternatives like buying in-season produce or choosing frozen fruits and vegetables. And remember, a balanced diet with a variety of foods is key to a healthy lifestyle.


Myth #7: You need to throw Pinterest-worthy birthday parties for your children

We all love a good themed party, but let’s be honest, a lot of those Pinterest-worthy parties can be expensive and time-consuming. Instead of stressing about creating the perfect party, focus on what your child really wants: spending time with friends and family. Consider simple decorations, food options, and fun activities like games or a DIY craft station.  Remember, your child’s birthday isn’t about impressing others; it’s about celebrating their special day.


Money Myths That All Mums Should Ignore


Myth #8: You need to buy the latest and greatest technology for your children 

In today’s digital age, it can be tempting to want to provide our children with the latest and greatest technology. However, this can be a costly mistake. Instead, consider setting boundaries and limits on screen time and utilising free or low-cost educational apps and games. Don’t forget the value of non-tech activities like reading books, playing outside, and doing arts and crafts.


Myth #9: You need to enrol your child in expensive extracurricular activities for their success 

While extracurricular activities like sports, music, and art can be great for children’s development, they don’t need to break the bank. Look for free or low-cost options in your community, like community sports leagues or after-school programs. And remember, their extracurricular activities do not solely determine your child’s success. Encourage them to explore their interests and passions without putting unnecessary financial stress on your family.


Myth #10: You need to keep up with the Joneses to be a good parent

Let’s face it, we’ve all fallen into the comparison trap at some point. But trying to keep up with the Joneses can be exhausting and expensive. Instead, focus on what works for your family and your values. Remember, your children don’t need the latest gadgets or designer clothes to be happy and loved. They need your time, attention, and affection. So, let go of the need to keep up with others and focus on creating a happy and healthy home for your family.


So, there you have it, mums. Five money myths debunked. Don’t let these myths drain your bank account and overwhelm you. Instead, focus on what truly matters: creating a happy and healthy home for your family.


If you enjoyed this post, ‘Money Myths That All Mums Should Ignore’, then you will also enjoy my other blog posts on similar topics, check them out below:

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By |2024-03-17T14:42:42+00:00April 24, 2023|Family and Finances, Money Mindset, Save Money|

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About the Author:

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Money Coach and Content Creator, passionate about helping women break the payday-to-payday cycle and achieve their financial goals, through the power of intentional budgeting, saving and investing and side hustling. When I'm not talking about money you can find me spending time with my 3 boisterous boys.


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