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Budgeting for Working Moms: How To Balance Family and Financial Goals

May 13, 2025

Being a working mom means you wear many hats. You care for your family, manage your job, and try to find a little time for yourself. It’s a lot to juggle. In 2023 in Indiana, 68.9% of mothers with children under age 6 and 77.4% with children aged 6-17 had to work.[1] So, you’re not alone in balancing work and home.

One way to make it all feel more manageable is to create a clear budget. A smart budget helps you meet your family’s needs while working toward your financial goals. In this guide, you’ll learn how to build a budget that fits your busy life, along with simple tips for saving, investing, and staying on track.

Financial Planning for Working Moms

Financial planning can feel overwhelming when you're busy with work and raising kids. Between daily tasks and long to-do lists, it’s easy to put money matters on the back burner. But taking time to plan your finances can help you feel more in control. It can also reduce stress and give your family a brighter financial future.

Financial Challenges Working Moms Face

When money feels tight, remember that many working moms face similar challenges.

Countless employed mothers deal with:

Childcare costs that take up a big part of each paycheck.
Grocery bills that grow with each family member.
Medical expenses and health insurance.
Pressure to save for the future while covering today’s needs.

These challenges can make it hard to plan ahead. But with the right steps, you can create a budget that works, even when things change.

How To Create a Budget That Works for Your Needs

A budget helps you understand where your money goes and how to stay in control. You don’t have to be perfect — just be consistent.

Step 1: Know Your Income and Expenses

Start by writing down your total monthly income.

Include:

Paychecks
Child support or alimony
Side job income

Next, list your regular expenses:

Rent or mortgage
Childcare
Groceries
Utilities
Gas or transportation
Debt payments

To help keep track of how much you owe and plan your payments, use our loan balance calculator.

You might also like: Money 101: Traditional Budgeting vs Zero-Based Budgeting

Step 2: Use a Budget Plan

A budget plan can give you a starting point to guide your budgeting. There are several existing frameworks that people use. For example, the 70-10-10-10 rule can help you simplify your money management. So, what is the 70-10-10-10 budget rule?

With this rule, you allocate your income as follows:

70% for needs (housing, food, bills)
10% for savings
10% for giving or donations
10% for investing or paying off debt

This gives you a balanced approach without needing complex spreadsheets.

You might also like: How To Write a Budget Plan and Why You Should

Step 3: Set Financial Goals

What are you working toward?

Maybe you want to:

Save for a home or a family vacation.
Build an emergency fund.
Pay off credit cards.

When you have clear goals, it’s easier to stay motivated. Start small and build as you go.

More Tips on Budgeting for Working Moms

Small changes can lead to big results. Use these ideas to spend less, save more, and reach your money goals faster.

You might also like: Saving Money at Home: 15 Money Saving Tips to Cut Costs

Meal Plan to Save on Groceries

Food costs can add up fast, especially with a growing family. The Natural Resources Defense Council says the average family of four throws away about $2,275 in food each year.[2] When you plan your meals ahead of time, you waste less food and keep more money in your budget. This small habit can save you time and money.

Buy Second-Hand When Possible

Kids need a lot — clothes, shoes, toys, and gear. Buying used items can help you spend less without giving up quality. Try local resale shops or online marketplaces to stretch your budget further.

Use Automatic Transfers

Saving money is easier when it happens without effort. Set up automatic transfers from your checking to your savings each payday. This can help you build a habit without having to think about it.

Track Spending With Apps or Notebooks

It’s hard to save if you don’t know where your money goes. Write down what you spend or use a free app to keep track. Once you see your habits clearly, it’s easier to make changes and cut back.

Open a Money Market Account

If you want to earn interest but still need access to your savings, a money market account (MMA) can be a good choice. With an MMA, you can earn at higher rates than with a basic savings account. Plus, you get the flexibility to use your money when needed.

You might also like: Can You Add Money to a Money Market Account? | Centier Bank

Consider CDs or IRAs for the Future

For longer-term goals, Certificates of Deposits (CDs) and Individual Retirement Accounts (IRAs) can be smart options. These accounts are low-risk and help you build wealth over time. They're a solid step when you're ready to think ahead.

You might also like: What is a Certificate of Deposit and How Does it Work?

Start Simple and Stay Consistent With Centier by Your Side

Being a working mom is no easy task. You give your best every day. Budgeting may feel like one more thing on your list, but it can give you peace of mind. With a simple plan and small steps, you can take control of your finances and build the future you want for your family.

Our team can help you reach your goals with personal guidance and tools to support you along the way.

If you’re ready to build a plan that fits your life, book an appointment with Centier Bank today.

Sources:

[1] https://www.bls.gov/news.release/famee.nr0.htm

[2] https://sustainableamerica.org/blog/a-new-nrdc-study-shows-that-america-wastes-40-of-its-food/