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Money Saving Tips for Homemaker
Being a stay-at-home mom is a crucial and gratifying role, but it may also bring financial difficulties. Learning how to make ends meet on a single income may be difficult and could require additional planning and budgeting.
1 Crore Term Insurance @Rs.19/day***
To delay is to regret
You may not always be around to take care of your family. And that’s when a term plan ensures your family is well protected.
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Return of Premium (ROP) Option^
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17% Online Discount**
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Same Day Claim Processing#
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100% Claims guaranteed15
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0% GST on Premiums#^#
Please wait while we are calculating term insurance premium for 1 crore
:1800-266-9777
Saving Money as A Homemaker: Practical Tips and Strategies
Let us look at some practical suggestions and strategies for saving money as a stay-at-home mom. By putting these suggestions into action, you may make a big impact on your family's finances and attain greater financial security.
Fix A Monthly Budget
Creating a monthly budget is a crucial step in efficiently managing your finances. Create a budget that covers all of your fixed monthly expenses, such as bills, groceries, and other household costs. Sticking to a budget gives you more control over your finances and allows you to discover areas where you can cut back and save money.
Buy Insurance
Buying insurance is a smart financial decision for a stay-at-home mom. With HDFC Life Sanchay Plus, you can enjoy the benefits of a life insurance plan that provides guaranteed maturity benefits1 and regular income. It provides financial security for your loved ones in the event of an unforeseen event and ensures a consistent revenue stream to meet their requirements.
Save On Shopping
Being aware of your spending habits can result in big savings. While making any big purchases, look for bargains, discounts, and coupons. Utilise loyalty programs and cashback offer. To obtain the greatest bargains and compare prices wherever possible. You might also try purchasing things in bulk that you use frequently to save money in the long run.
Pay using Debit Card
Using debit card rather than credit card can help you stay on track with your budget and prevent overpaying. When you use debit card, you have limited amount of funds available, whereas credit cards offer additional spending limit. Thus, using debit card might help you be more conscious of your spending. You can also avoid credit card debt and the related interest costs by paying with cash.
Start A Side Hustle
Earning extra money through a side hustle can help your family's financial stability. To uncover prospective opportunities, consider your skills, hobbies, and interests. You may offer freelance writing, graphic designing, coaching, or even create a small online business. A side hustle allows you to monetize your skills and make money while fulfilling your duties as a stay-at-home mom.
Conclusion
These are some of the practical suggestions and approaches which can help you confidently negotiate the financial hurdles of being a stay-at-home mom. Prioritise your family's financial security, make long-term plans, and seek professional help when necessary. Remember that every modest action you take toward saving and financial empowerment will have a positive impact on the financial well-being of your family.
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Francis Rodrigues
Francis Rodrigues has a decade long experience in the insurance sector, and as SVP, E-Commerce and Digital Marketing, HDFC Life, manages the online sales channel, as well as digital and performance marketing. He has had hands-on experience in setting up sales channels and functional teams from scratch over a career spanning 2 decades.
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1. Provided all due premiums have been paid and the policy is in force.
HDFC Life Sanchay Plus (UIN: 101N134V26) is a non-participating, non-linked savings insurance plan. Life Insurance Coverage is available in this product.
@As per integrated annual report FY24-25, available on www.hdfclife.com. As of May 2025
#Provided we have received all the relevant and required documents and no further investigation is required. Claim settlement process would be completed within stipulated timelines once the claim request is approved
^ Available under Life & Life Plus plan options
***Online Premium for Life Option for HDFC Life Click 2 Protect Supreme(UIN:101N183V01), Male Life Assured, Non-Smoker, salaried, 20 years of age, Policy term of 25 years, Regular pay, Monthly frequency, inclusive of 15% online discount (applicable only for 1st year premium) & exclusive of taxes and levies as applicable. (Monthly Premium of 573/30=19).
**If a customer is a Salaried individual and has opted for a cover of INR 2 Cr with Limited pay, then the total discounts applicable shall be: 10% +7% = 17% discount on the first year premiums.
~Tax benefits of ₹ 54,600 (₹ 46,800 u/s 80C & ₹ 7,800 u/s 80D) is calculated at highest tax slab rate of 30% on life insurance premium u/s 80C of ₹ 1,50,000 and health premium (Critical illness rider) u/s 80D of ₹ 25,000. Tax benefits are subject to conditions under section 80C, 80D, 10(10D) as per Income Tax Act, 1961. Please consult your tax advisor for more information.
#^# Individual Life Insurance Policies issued on or subsequent to 22nd, September 2025, shall be exempt from GST under the provisions of the Goods and Services Tax, 2017.
15. HDFC Life Click 2 Protect Ultimate(UIN: 101N179V01) A Non-Linked, Non-Participating, Individual, Pure Risk Premium/Savings Life Insurance Plan. The policy must be in force on the date of death, with all premiums fully paid, except for the exclusion clauses mentioned in Part F of the policy document.
ARN: ED/07/23/3484
