Changes: Finances

As most single parent can attest to, finances needed a huge change when you become a single parent. I was definitely no different. Going from being single and only having to think about and worry about only myself to having a child that depended on me was a huge shock to my finances. I went from only worrying about paying bills and money for entertainment, to having to worry about bills, extremely expensive formula due to allergies, diapers, clothes, medicine, etc., etc. One thing that did help was the fact that I did save up some money for when I … Continue reading →

Money, Trust, and the Single Parent

Let’s face it, going through a separation, divorce, death, or other crisis on the road to single parenthood can create or contribute to some major trust issues for some of us single parents. I’m of the opinion that nowhere do those trust issues play out quite like they do when it comes to money and the single parent family. The realities of supporting a family and household on one income are one thing that we single parents have to learn to cope with–regardless of how we came to being single parents. However, if we’ve been through a rocky relationship and … Continue reading →

Child Support from the Ex-Spouse

I remember one October going with my best girlfriend to meet her ex-husband. The purpose of the meeting was to pick up the children but also for him to hand over to her a very late child support payment. After the kids transferred cars, he handed her an envelope and drove off. She was shocked that he paid but her hopes of getting some financial aid was dashed when she opened the envelope only to find half of a $20 bill. Although financial matters can be touchy, especialy among fighting couples going through a divorce, it is imperative you get … Continue reading →

Single Moms – Improving the Financial Picture

Most single moms will agree that the number one challenge has to do with money. Unfortunately, studies still show that while the gap of income between men and women is getting closer, men still make more money than women do for the same job. Going from a two-income family down to one, and being the individual who makes less can be tough. Obviously, some compromises have to be made and at first, you might feel discouraged and even defeated. Remember, just because things start out financially bumpy does not mean they have to remain that way. To boost your financial … Continue reading →

Government Grants for the Single Parent

Unfortunately, obtaining information about single parent grants can be challenging. As the number of single parents continues to rise, the need for assistance, specifically in raising the children also increases. For many single parents, trying to go it alone on a single home income can be stressful, which is why the government has developed a number of grants to help. The good news is that you can secure financial support by proving that you need it in the help of raising a child. Without a second income, offering a child all the good things of life is hard, which is … Continue reading →

Common Single Parenting Struggles

Single parents definitely have struggles unique to the situation. However, with the right attitude and a plan of action, the struggles can be minimized. I wanted to touch on some of the common areas that we as single parents tend to find challenging. Remember, we do have resources but the first step is identifying the struggles so the appropriate action can be taken. One of the most difficult areas for single parents has to do with finances. Obviously, going from a two-income home to just one really cuts into a budget. Now paying the mortgage, car payment, utilities, groceries, credit … Continue reading →

Financial Assistance for the Single Parent

One of the greatest concerns and challenges for most single parents has to do with finances. Often, a mother will find herself trying to start life over as a single parent with the responsibility of one or more children and little support from the ex-husband. Sad, but this scenario is far too real. Trying to work and balance a home life as a single mom can be more than trying in a number of aspects, especially financial. When you start adding up all the expenses in a single-parent home, you find that juggle budget can be hard. For instance, you … Continue reading →

Single Parenting and Financial Assistance

Ah, the life of the single parent – while being a single parent does not mean it is the end of the world; you should be realistic about the changes. This way, you can handle the differences that lie ahead for you and your children. In many instances, becoming a single parent is a good thing. While I do not advocate divorce, in cases of infidelity and abuse, being single can provide a newfound life of freedom, peace, and self-confidence. One of the major complaints heard from single parents has to do with finances. Depending on the situation, sometimes the … Continue reading →

Important Lessons on Money

Becoming a single parent usually means the purse strings are tightened. That does not mean you cannot enjoy wonderful things in life but going from a two to one-income family does present some challenges. Unfortunately, children think mom and dad are made out of money. Smaller children have no concept of what money is or where it comes from, just that if they want something, they beg mom or dad for it. According to some of the country’s leading child experts, a child should be taught the value of money as early as age three. In fact, these experts say … Continue reading →

Financial Tips for the Single Parent

If you have recently become a single parent, you will quickly discover that life has changed, particularly in the area of finances. While you typically find general information pertaining to budgeting, I wanted to get into some detailed issues that really need to be addressed. For starters, I strongly suggest you create a will and/or estate plan. This way, your wishes for the future would be known. Within both of these documents, you should outline what you want to happen, specific to financial security for your children. This means being able to secure your home and pass it on to … Continue reading →