I’ve always been pretty good with money. From the time I was little I was never one to rush out and spend what little money I had. I’d save all my pennies until I had enough for what I really wanted and then I’d start saving for the next thing on my list. Now as a single parent sticking to my budget has become even more important. For most of us there is very little money left over at the end of the month. Saving can be a real challenge when there is nothing left to save. Bills have to be paid, you are constantly buying clothes for your ever growing children, you have to find a way to put food on the table, and just when you think you’re going to make it, the car breaks down. The expenses are never ending when you are single parent and money seems to get tighter and tighter as the months press on.
Keeping a budget allows you to see where your money is going, and if done right you may even have a little wiggle room at the end of the month. I always budget high. That way if you have a little money left over after your budget you can put it in savings. The more you build your savings now the easier things will be later. It gives you that extra cushion in case some unexpected expense creeps up this month. You don’t have to put away hundreds of dollars every month to build your savings, even just $5 or $10 from every paycheck will make a difference.
You may find it helpful to use coupons when you do your grocery shopping. I have often saved $50-$100 a month when using coupons. Couponing isn’t for everybody; it is time consuming and takes a fair amount of effort every month. Once you’ve established a couponing routine things do tend to speed up, but you have to be willing to put the work into it. For many of us single mothers, we don’t have a choice. We have to coupon because that is the only way we can make ends meet at the end of the month. You have to decide what is right for you and your family.
Budgeting can be a nightmare some months. The money seems to disappear right before your eyes, but before long budgeting with become second nature. It just takes a little practice sometimes.