Budgeting Tips for the Single Mom



You don't need to know all about high finances to be able to create a workable budget and manage your money better.

Single moms have more responsibilities than most individuals, and usually less money to take care of them with.

Taking care of our kids is of paramount importance. But, in this tough economy it can be hard to manage especially by yourself.

Single moms can learn to make ends meet through the budgeting process.

Moms want what is best for their families. When you are left to go it alone, the task can become even more daunting.

But, it’s not impossible. Even single moms can care for their families, put money aside and not feel like they spend every waking moment putting out financial fires.

If you keep reading, you’ll find out a few tips that will be helpful to overcome your money issues.

We know that budgeting is a dirty word to most people.

What you might not know is that a budget can be your best friend once you understand how it all works and fits into your life.

Budgeting Tips for the Single Mom

Budgets are important for everyone. It doesn’t matter if you are a single parent or a two-parent household.

Knowing where the money starts and ends each month provides a basis for better planning.

1. Create a budget
– Begin by writing down all of the income that is coming into your home.

If you get regular child support payments or alimony, include that as well. All monies need to be accounted for.

Now, write down all of your expenses. You may need the assistance of your bank statement for this the first time around.

2. Define discretionary from necessary expenses – Your monthly utility, insurance and mortgage are necessary. Add those up.

Whatever you can do without are discretionary and can be evaluated and ultimately eliminated.

3. Pay bills as soon as they come in – When we wait, we are prone to spend the money on something else.

Stand strong and put the checks in the mail as soon as the bills come in if you have the money in your account.

If not, place checks in the envelope and mail them once your money hits the bank.

4. Set aside emergency fund money – Even if it is only twenty dollars a paycheck, putting aside money makes car problems and health emergencies easier to deal with financially.

Over time, it will add up if you remain diligent.

5. Find low cost or free ways to have fun – Life is not about just paying bills each month.

You want to enjoy it. Cutting money for entertainment doesn’t mean going without entertainment at all.

Search for ways to entertain the family without any money being spent.

6. Keep track of your expenses – For a month or two, you will watch all of your ATM withdrawals and other outlays of cash.

It is tedious but you’ll be surprised at things like how much you eat out or give in to impulse buying. Now you can control where the money goes.

Keeping track of your expenses may seem bothersome but it is worth it not only for the single mom but everyone who wants to improve their financial picture.

Learn more about budgets and managing your money when you read the rest of our information here about: How to Make a Budget and Save Money

It is one of the most important life skills you can learn as the sooner you take control of your finances, the sooner you can grow your fortune in life.

You can also get my free book download to help you learn how to save money on groceries:

Download free how to book >> Save money on Groceries



Here are a few more resources to help you budget better:

How to Budget- The Quick and Easy Guide to Making a Budget That Works (Volume 1)How to Budget- The Quick and Easy Guide to Making a Budget That Works (Volume 1)

How to Manage Your Money When You Don't Have AnyHow to Manage Your Money When You Don't Have Any

How to Budget: The Rich Mama Family Spending Plan (GirlMogul Guides)How to Budget: The Rich Mama Family Spending Plan (GirlMogul Guides)

How to Budget- The Quick and Easy Guide to Making a Budget That WorksHow to Budget- The Quick and Easy Guide to Making a Budget That Works

The Budget Kit: The Common Cents Money Management WorkbookThe Budget Kit: The Common Cents Money Management Workbook

How to Make a Budget: Get Out of Debt and Start Saving More MoneyHow to Make a Budget: Get Out of Debt and Start Saving More Money

How to Budget: Learn How to Make the Most of Your Money, Get out of Debt and Retire RichHow to Budget: Learn How to Make the Most of Your Money, Get out of Debt and Retire Rich

How to Manage Your Money When You Don't Have AnyHow to Manage Your Money When You Don't Have Any

How to Get Out of DebtHow to Get Out of Debt



What’s your weakness with money? How do you handle it – or can you think of any additional tips you can share with others if you don’t have a problem with money management in your life?

Share them below – and then share this blog post on Twitter or Facebook or wherever you feel it could help someone you know.

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Comments for Budgeting Tips for the Single Mom

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Not Just For Single Moms
by: Ruth Clark

Hi Helene,

Great tips and not just for single moms.

I found some that I could use and I have great-grands.

Thanks for a great article in hard times.


~*~*~*~*~*~

Hi Ruth,

I'm glad you enjoyed the article!

I have a lot of experience with frugal living - lol!

Even when the money is flowing in I'm still very conscious of good management and not letting the spending catch up with the money.

I have a lot of long-term strategies in place so that I can live on a small retirement income if I have to, it makes the future seem a lot more secure!

Have a good one!

- Helene

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