Talking About Finances with Your Kids

My experience as a single parent has made me more determined than I think I would otherwise be to make sure my children have a good understanding of personal and household finances when they embark out on their own. I am a bit of a zealot when it comes to talking about the details of money management and I think since I grew up in one of those household where we could never talk about money—I want to make sure my children have more of an open, informed attitude about finances. The other day, one of my daughters and I … Continue reading →

Gearing up for Financial Risk

The most financial stable single parents I know tend to be pretty frugal people. I know in my own case, my frugality and care with my finances as a single parent have kept a roof over my family’s head and food on the table during some financially precarious times. Because we get so used to keeping a tight hold on the purse strings, it can be tough to let go a little and take some financial risks–make large purchases, invest money, diversify our finances, etc. It can take some of us some time to get used to the idea and … Continue reading →

Have Your Cake and Eat it Too (Watch Out for Too Much Depravation)

I was chatting recently with a friend who is facing some changes in her budget. This person is NOT a single parent, but I was able to draw on my experiences as a single parent to offer her some suggestions. We single parents can be an amazingly frugal bunch—but too much depravation can be depressing and disheartening. I have learned over my many years as a single parent that there are ways to be both frugal and experience life to the fullest! My personal philosophies on financial management and raising a family on one parent’s income are really built around … Continue reading →

Money Issues Can be a Trigger

It has been so long since I have NOT been a single parent, it is tough for me to remember whether money issues were a big deal for me or not. I think I worried less since there was more coming in, and two adults working to keep the coffers full. Many single parents that I have talked to confess that money issues are a HUGE trigger, if not the major trigger for stress and worry. While I have read many a book about “flow” and “letting go” and not clutching on to things like money, my experience as a … Continue reading →

Good Old-Fashioned Savings

Finances are one of those stressful topics that come up again and again for the average single parent. We struggle to make enough money and make what we do have stretch as far as it can. There are questions about insurance, education, and credit and all sorts of other financial concerns that pop up again and again. Even for those of us on the tightest budgets, there is something to be said for good, old-fashioned savings… I think that it doesn’t matter how little we make, we can still put some away in savings. I am not talking about living … Continue reading →

The Stress and Strain of Last-Minute Requests

I wrote yesterday about what a relief it can be as a single parent to get to a place where you’ve built up some practical reserves and are not just flying by the seat of your pants. However, since most of us are on extremely snug budgets, it might not take much to put a strain on all of our best-laid plans. In my world, my kids can be the biggest culprits for those last-minute requests. Despite the fact that I have tried to hammer into my kids’ heads that budgeting is key in our family and that if they … Continue reading →

Facing the Lower Income=Lower Self-Esteem Issue

One of the topics that come up again and again when I talk with other single parents is the way we all seem to wrestle with the one income/lower income issue and how it affects our own self-esteem, AND how we worry that it will affect our children’s. We tend to be concerned that if we aren’t able to give our children everything that “other kids” or “other families” have; or that if we aren’t able to live in the right neighborhood, go on vacations, etc.—our children will be at a disadvantage. This can be some heavy stuff and make … Continue reading →

Health Insurance and the Single Parent

I can just hear the groans now as I use those two words: Health Insurance. What issue is more controversial, more stressful, and more overwhelming for ANY family, if not health insurance? For single parents, getting adequate health insurance coverage for our kids and our families can be an incredible challenge and one of our big focuses as we look for adequate work and benefit packages… Years ago, when I was negotiating my divorce settlement, I remember health insurance was a big topic. My ex-husband and I spent some time and detail figuring out what was going to be fair … Continue reading →

Evaluating Government Assistance

A huge chunk of single parents who have custody of their children do not get child support. That is a fact. Even among those who do, many do not get nearly enough to help make those ends meet. While the word “welfare” carries with it a negative connotation, there are many government assistance programs that can benefit a single parent. You may not think of things like federal financial aid for school or Head Start programs as government assistance. There may also be community or city programs that you are able to access as a single parent that don’t have … Continue reading →

Single Parents and Budgeting—Don’t Give in to Peer Pressure

I suppose if I am going to be completely clear, I should say “peer pressure, family pressure, social pressure, and child pressure.” The fact is there is so much external pressure on us in a consumer-oriented capitalist society, that it can be incredibly hard for anyone to stick to a budget or financial plan—not just a single parent. But we single parents have the added challenge of feeling like we need to compete and compare with two-parent, two-income household, or our own household economic situation prior to our becoming single parents. It takes a great deal of strength and character … Continue reading →