Home
>
Personal Finance
>
Single Mother and Learning how to Save

Single Mother and Learning how to Save

Saving may seem easier if you were saving for a new car, or a vacation however when it comes to saving in general it may prove to be more challenging because you may not necessarily feel you are receiving a reward from it. However saving pays off, especially as a single mother. All you need to do is simply spend less than you make each month.

You are going to want to establish a budget. First, make a list of all your monthly income. Next, list all your monthly expenses. This will show you how much money you have coming in each month and how much money you have going out.

Now circle your three largest expenses. For most of us, they usually are rent or mortgage, auto expenses, and food. Sometimes this could mean, selling your house and buying something smaller, or taking the bus opposed to spending more money and maintenance on your car. Your main goal is to get your expenses as minimal as possible even if it means giving up things you thought you could never live without.

People will find that by moving to a cheaper geographical area, an older apartment, and walking rather than driving will immediately free up hundreds of dollars per month. If you were working a second job, the amount of overtime you were putting in before or hours spent at a second job should start to decrease. The money saved from using new alternatives should go towards paying off debt.

Another great money saving tip is to cook and make lunch opposed to hitting the drive through or picking up a pizza for dinner. You can save hundreds of dollars by cooking.

Its easy to cook and can be fun too. Borrow cookbooks from friends or your local library. You'll be quickly amazed at how much there is to choose from, starting with breakfast all the way to dessert. Try to make about five meatless meals each week for dinner, but don't skimp out on the protein. Some good sources of protein are scrambled eggs, peanut butter on crackers or toast, cheese and fruit, yogurt, lentil chili, and bean quesadillas. It's important to eat healthy to stay healthy. Try using tuna, which is inexpensive and tasty. Eat it with bread or toss it on a fresh bed of salad greens and it becomes a quick main course lunch meal. Add some vegetable sticks and juice or water and your lunch is nutritionally complete and inexpensive.

Also, in order to save money on food, it is important to decide what you really need and what you can live without. Such as a latte on the way into work or brand name products. Coupons can be a great source to cut down costs. Cutting coupons can be a time consuming task so as a single working mother you should have allow your children to help if they are old enough to use scissors so you can multitask by spending time with your children and cutting costs.

Clothing is an important necessity however; where you buy it determines the cost. If your children are young you can get great deals at local garage sales, and thrift stores since they are bound to grow out of them in a short period of time. You can also buy furniture and household items here. You can find great deals at discount stores opposed to spending more money for a name brand shirt that is most likely made out of the same fabric. Also if you have other children in your family such as nieces and nephews ask for second hand clothes.

There are easy ways to reach your goals by cutting costs. Whatever that trade off is, whether it be trading in your car for a bus pass or giving up your house for a more cozy older home or apartment, cutting your food bill by cooking instead of getting take out, buying generic brands, and skipping out on treats you don't necessarily need you can save costs and reduce your debt. You can put all this saved money into a savings, pay off debt, or treat yourself and child to something special that you both deserve! Stay motivated and committed and you'll be debt free in no time!

Kathryn Spencer specializes in advising young mums how to make a budget and has long authored educational and support pieces for women and single mothers. Kathryn is a contributing author and editor to a variety of international and domestic web sites, and free newsletters. Kathryn lives in the southeastern United States with her two children Dylan and Kalie.

disinfecting cleaning services Highland Park ..

In The News:

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Microsoft warns Windows 10 users face serious security risks as 90% of ransomware attacks target unsupported systems. Learn why upgrading to Windows 11 is crucial.

Nike unveils Project Amplify, revolutionary motorized shoes developed with Dephy that add powered assistance to every step for runners and walkers.

Cybersecurity experts warn about one of the largest credential compilations ever found, urging users to check "Have I Been Pwned" and change passwords immediately.

Quick iPhone and Android battery optimization techniques help your device stay powered all day by turning off hidden features that secretly drain power in the background.

Kodiak Driver autonomous truck achieves perfect 98 safety score, matching top human fleets in groundbreaking AI evaluation by Nauto's VERA system.

New 401k catch-up contribution rules in 2026 will change taxes for high earners over 50. Learn how scammers exploit these changes and protect your retirement savings.

Kurt Knutsson's guide covers social media privacy protection through location settings, account privacy controls and two-factor authentication to prevent scams and data breaches.

Revolutionary retinal implant restores central vision in 80% of patients with advanced macular degeneration, offering hope where treatments once only slowed blindness.

Learn how to use passkeys on Windows and Mac computers without cameras or fingerprint readers. Discover secure authentication methods that replace passwords.

Tesla's FSD v14.1.2 update reintroduces Mad Max mode, enabling higher speeds and more frequent lane changes than the standard Hurry profile setting.

A phishing email scam targeting American Express customers shows how cybercriminals use fake urgent messages to steal personal and financial information.

Facebook's new Meta AI feature analyzes your camera roll photos to create polished collages automatically, but requires cloud processing and raises privacy concerns.

A New Jersey teenager filed a major lawsuit against AI/Robotics Venture Strategy 3 Ltd. over ClothOff, an AI tool that created fake nude images from her social media photos.

Microsoft reports Storm-2657 cybercriminals sent phishing emails to 6,000 addresses at 25 universities to steal payroll credentials and redirect funds.

Astronomers have discovered asteroid 2025 SC79, a skyscraper-sized space rock orbiting the sun in just 128 days. the second-fastest known.

The Fox News AI Newsletter delivers the latest developments form the world of artificial intelligence, including the technology's challenges and opportunities.

A cyberattack on SimonMed Imaging exposed personal information of 1.2 million patients, including medical records, financial details and identity papers.

Spotify's managed accounts for kids under 13 now available in at least seven countries, allowing parents to filter and block explicit content and songs.

Friendly text conversations about BBQs and social events can lead to WEEX gold trading scams that target older adults with fake investment opportunities.

California company Skyeports creates self-healing glass spheres from Moon regolith that generate solar power and support plant growth for sustainable lunar living.

Cleafy researchers discover fake VPN streaming app Mobdro Pro that installs Klopatra banking Trojan, giving attackers full control over Android devices.

Police departments across the U.S. and Canada are adopting virtual reality training to better prepare officers for high-pressure, real-world situations.

House Bill 469 would prevent AI systems from owning property, serving as executives, or gaining legal personhood in Ohio under Representative Thaddeus Claggett's proposal.

Public voter records expose retirees' personal details to election scammers who create targeted cons using names, addresses, and voting history data.

Single Mother and Learning how to Save

Personal Finance