Money Rehab with Nicole Lapin - How to Show Mom You Care on Mother's Day Without Breaking the Bank

Episode Date: May 9, 2023

Mother’s Day is right around the corner, and for those who are tight with their moms, this day is a big deal. But as much as we want to celebrate our moms, we also want to make sure we’re not straying from our spending plan. Today, Nicole shares five ways to do something special for mom, without breaking the bank.

One of the most stressful periods of my life was when I was in credit card debt. I got to a point where I just knew that I had to get it under control for my financial future and also for my mental health. We've all hit a point where we've realized it was time to make some serious money moves. So take control of your finances by using a Chime checking account with features like no maintenance fees, fee-free overdraft up to $200, or getting paid up to two days early with direct deposit. Learn more at Chime.com slash MNN. When you check out Chime, you'll see that you can overdraft up to $200 with no fees. If you're an OG listener, you know about my infamous $35 overdraft fee that

I got from buying a $7 latte and how I am still very fired up about it. If I had Chime back then, that wouldn't even be a story. Make your fall finances a little greener by working toward your financial goals with Chime. Open your account in just two minutes at Chime.com slash MNN. That's Chime.com slash MNN. Chime. Feels like progress. Banking services and debit card provided by the Bancorp Bank N.A. or Stride Bank N.A. Members FDIC. SpotMe eligibility requirements and overdraft limits apply. Boosts are available to eligible Chime members enrolled in SpotMe and are subject to monthly limits. Terms and conditions apply. Go to Chime.com slash disclosures for details.

I'm Nicole Lappin, the only financial expert you don't need a dictionary to understand. It's time for some money rehab. All right, money rehabbers, Mother's Day is right around the corner. It's this Sunday, May 14th. For those of you who are tight with your moms, this day is very importante. Also, if you have a parent or have a mama co-parent and your kiddo is too little to put something together for Mother's Day, surprise, Mother's Day coordinating is on you. But as much as we want to celebrate our moms today, we also want to make sure we're not straying too far from our spending plan. So here are five

ways you can do something special without breaking the bank. These are not your mama's savings tips. I had to. Number one, lean into Bed Bath & Beyond's fire sale. As you know from last week's episode on Money Rehab, Bed Bath & Beyond is closing its doors forever. This means there are some gigantic discounts and going out of business sales right now. On the Bed Bath & Beyond website, everything is 10 to 40% off. But if you can, try to visit a store IRL because in order to get something to your mom by Sunday at this point, you're probably going to have to pay for expedited shipping. And there's really no need to do that if you don't have to. Number two, buy gift cards at a discount. I've mentioned this on Money Rehab before. It's a quick way to get a few extra bucks.

If you have an unused gift card, you can sell it for a cash discount. Well, now you can also take advantage of the very same system on the flip side. If you haven't heard of this, there are several websites where folks sell their unused gift cards for cash at a slight loss. So for example, you might be able to pay 40 bucks cash for a $50 Target gift card that you could use toward a gift. That is free money and we love that. Number three, unite with your tribe. We know the golden rule of shopping is that discounts come to those folks who buy in bulk. So if you've been eyeing a necklace for mom, let's say,

or if your mom has been eyeing a necklace and has been dropping some not-so-subtle hints, coordinate with a couple friends that are going down the jewelry route for Mother's Day. Then see if the store can give you a bulk discount if you buy more than one thing. If your negotiation works, you can spread the discount love when you and your friends are settling up. Not to mention, if you lead the charge on buying bulk for your group, then you get added bonus points of helping your friends find the best deals, brownie points for you, ice for mom. Number four. Many stores offer Mother's Day sales on products that would be great gifts for mom. We know this. But you can also find discounts on activities through Groupon and Living Social. Hear me out on this. This could be a move that's

a double win if you book an activity to do with your mom where you make something that you can then re-gift, like a ceramics class or a flower arranging workshop, which is low-key very fun. I know that re-gifting sounds pretty savage, but thinking strategically about how you can get the most mileage for your money is the way to win the gifting game. Plus, it's all about quality time anyway. So who cares if you don't keep that ceramic dish? That's definitely not an ashtray, of course, that you made with mom. Father's Day is coming up too, just saying. Number five, buy something for yourself.

That's right. This could be a shop-portunity for you too. The trick is to take inventory of what's been on your to-buy list and then see if there's a buy one, get one free deal out there. For example, if you've been taken by the nice springtime weather and you've been wanting to test out your green thumb, see if there are BOGO deals on a raised bed, or if you struggle keeping even fake plants alive than one of those self-watering pots or really beautiful fake plants, then you can get one for yourself, one for mom, and you can compare notes

on whatever that gift is. She never has to know that you got it for free. For today's tip, you can take straight to the bank. Mother's Day can be so wonderful for so many moms, stepmoms out there, daughters, sons, but remember, it is a triggering holiday for some of your other friends who might not have a mom or is estranged from a mom or whose mom died or who is having trouble having a baby or who just lost a baby. So for those friends, make sure you gift them something too. Even if it's just a phone call to say what's up, a text, or hug. All of those gifts are free too. One of the most stressful periods of my life was when I was in credit card debt. I got to a point where I just knew that I had to get it under control for my

financial future and also for my mental health. We've all hit a point where we've realized it was time to make some serious money moves. So take control of your finances by using a Chime checking account with features like no maintenance fees, fee-free overdraft up to $200, or getting paid up to two days early with direct deposit. Learn more at Chime.com slash MNN. When you check out Chime, you'll see that you can overdraft up to $200 with no fees. If you're an OG listener, you know about my infamous $35 overdraft fee that I got from buying a $7 latte and how I am still very fired up about it. If I had Chime back then, that wouldn't even be a story. Make your fall finances a little greener by working toward your financial goals with Chime. Open your account in just two minutes at Chime.com slash MNN.

That's Chime.com slash MNN. Chime Chime.com slash MNN. Chime. Feels like progress. Banking services and debit card provided by the Bancorp Bank N.A. or Stride Bank N.A. Members FDIC. SpotMe eligibility requirements and overdraft limits apply. Boosts are available to eligible Chime members enrolled in SpotMe and are subject to monthly limits. Terms and conditions apply. Go to Chime.com slash disclosures for details. Money Rehab is a production of Money News Network. I'm your host, Nicole Lappin. Money Rehab's executive producer is Morgan Lavoie. Our researcher is Emily Holmes. Do you need some money rehab? And let's be honest, we all do. So email us your money questions, moneyrehab at moneynewsnetwork.com to potentially have your questions answered on the

show or even have a one-on-one intervention with me and follow us on Instagram at moneynews and TikTok at moneynewsnetwork for exclusive video content and lastly thank you no seriously thank you thank you for listening and for investing in yourself which is the most important investment you can make.