Surviving Financially as a Single Mom: Ways to Make Ends Meet
Parenting is one of the hardest, yet most rewarding jobs you will ever have. It’s even more demanding, however, when you’re a single mom trying to raise your kids the right way and still make ends meet. Unless you’re a single mom, it’s hard to understand the struggles that they face on a daily basis, especially financially. In this blog, you’ll find a few tips for surviving as a single mom and making ends meet.
Simplify Your Finances
When you’re down on your luck and worried about how you’re going to buy groceries for the week and still manage to pay your electric bill, check out some of the options for turning debt into one simple payment, several Americans have found this so helpful, especially during the COVID-19 Pandemic. Make sure that you check interest rates, penalties, and late fees before you sign on the dotted line. If you decide to consolidate your finances with a company like Braidwood Capital, make sure to be informed and ready. Make wise choices when figuring out your income and expenses, even things like gasoline or money you put away for savings needs to be factored in. It’s amazing how much you can save when you really write it all down and get organized.
Go Back to School
When it comes to making ends meet and making sure you and your children have social time and even a little money left over at the end of the week, going back to school might be your best option. Make sure that you check into scholarships, grants, and even student loans to help you get through college and on your way to a better life for you and the babies you love.
Find Affordable Housing
With rents the way they are, it’s hard to find something decent at a cheap price, but they are out there. There are many options out there, however, some to rent and some to purchase. If at all possible, it’s best to find a home that you can make your own. Rent is just paying someone else’s bills while it doesn’t help you in the slightest. If you can’t afford to buy a home, then make sure that the rent you find is affordable, yet in a safe neighborhood as well.
Don’t be Afraid to Ask for Help
There is no shame in asking for help as a single mom. While you might think it’s important to do it on your own, don’t let your pride get in the way of taking care of your family. Whether it’s public assistance, getting help from your family, or even asking for help from friends, you can do that until you get back on your feet and are in a good place again.
Create a Budget and Stick to It
Creating a budget is hard, no matter whether you’re a two-income family or a single mom. Sit down and create a budget that you can stick with. Cutting out items that are unnecessary, like stopping for a cup of coffee every morning before work, when you can easily make it cheaper at home, will save you more money than you might think in the end.
Pay Your Bills Ahead when Possible
While this might not be easy to do at the moment, when you have a little extra money, pay a bill ahead. For example, if you get a small windfall and pay your rent ahead for a couple of months, you’ll be less stressed and the money for rent can go towards paying down other bills you might owe.
These are just a few of the tips for making it financially as a single mom. While the days might look bleak right now, you’ll be back on top before you know it. Follow these tips until then to help you get out of the tight spot you find yourself in.