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Whether it is the current national economy or your own personal financial situation, you are likely going to face difficult financial times at some point in your life. Knowing how to handle this ahead of time will protect you from potential financial ruin.
Being a single mother is no small task. Financial help and planning is important at every stage of life but as a single mom you need to now consider your children in your planning as well. A few key things to keep in mind are your job situation, daycare expenses, medical expenses and the cost of education.
You should always be willing and able to take on a second job to provide for your children. Always be on the lookout for a better job and keep your resume polished up in case you need to hand it out.
Daycare expenses can be very costly and finding a service that fits a single parent's budget can be hard. Shop around for the best rates or even talk to friends and relatives about helping out when they can.
Also have a little money set aside for emergency medical expenses and prescriptions. If you don't have medical insurance try and set some money aside in a savings account to use in this situation. It doesn't have to be much and anything is better than nothing when you are faced with medical bills.
And finally always, always, always be thinking about the future. Consider creating a college fund for your child/children as early as possible. Even if you can only put in five dollars a week it will add up in a few years and will come in very handy when you need to pay for tuition or books.
As a single mom your financial burden can be overwhelming at time. With our help, advice and guidance you will make it through these tough times