Single Moms are incredible. They have unlimited love to give to their children, endless dedication, and a commitment to ensuring that their kids get the best life possible – regardless of whether there’s another parent in their life or not. However, as amazing as it can be to be a single mom, in some cases, they also face a lot of challenges which can be difficult to overcome at first.
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For instance, one of the biggest challenges that any single mother will face is figuring out how to make ends meet on a single income. If you’re heading into 2020, worried that you’re not going to have enough cash to give your little one the life that they deserve, then the following tips could help.
1. Get Some Support
Managing on a single income isn’t easy. No matter how careful and frugal you might be, there’s always a chance that you could do with some extra help. Fortunately, benefits for single parents are available to lighten the load in some cases. You could check out options for reduced tax expenses when you’re paying the government each month as a single parent. There’s also the option to speak to a lawyer or a tax professional about your options too.
Although child maintenance or support isn’t technically a benefit, it is one way of reducing the stress that you feel when it comes to trying to manage all of your expenses on your own.
2. Cut Your Energy Costs
Cutting down on energy and utility costs might not be the most modern or unique tip for saving money that you’ve ever heard, but it’s still something that works wonders for a lot of parents. If you’re trying to cut costs for the year ahead, start by thinking about your yearly average cost for energy. Then, think about how you can save during the upcoming year. If you’re paying a ton for electricity each month, contact your electric company to find out if they have energy savings programs that can help you better manage the cost.
Each state has different options-even with the same provider.
3. Invest in Better Maintenance
Prevention is always better than a cure. That’s a lesson that you need to be aware of as a single mother looking to save more money. As tempting as it is to ignore a maintenance issue. The minute you notice a problem with your roof and gutters it’s important to get that fixed quickly and taking on credit to fix the issue now could potentially cost you a lot less in the long term than paying for the cost of major repairs that may occur in the future.
When you notice a problem that could come back to bite you in the form of things like major water damage or increased repair expenses in the future, it might be a good idea to bite the bullet and get rid of the issue as quickly as you can, you’ll thank yourself for it later.
Look for Opportunities to Earn More
In the past, earning extra cash as a single mom was practically impossible. It’s hard enough to find childcare options for your kiddo when you’re in your day job. If you wanted to work extra hours, then you would end up spending a fortune on babysitters as a result. However, the digital world has begun to change all that. Now you can do extra work from the comfort of your own home, while your kids are watching television or sleeping in bed.
There are plenty of companies online willing to pay you for things like writing blogs or dealing with emails on your behalf. If you don’t have any extra energy for more work every day, then you can also look for alternative ways to make cash by renting out your spare rooms in your home or giving people access to your driveway in exchange for a monthly fee.
Share Childcare
Finally, since childcare is one of the biggest expenses that most parents will face, consider reaching out to other people in your community to see whether you can share the load. If you have friends or family members with children, then you could all come up with a schedule where one of you will care for the other’s children one day out of the week.
While this strategy will mean that your house is overrun with kids one day of each week, it could also mean that you can save some much-needed money on looking after the kids for the rest of the week too. Or, you can do a nanny share which has become increasingly popular and would be easier on you and your nerves.
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