Talk of economic woes and impending recession abound. I wrote the other day about considerations for a home business owner and an impending recession in the Home Business blog, but I started thinking how many single parents feel especially vulnerable when the economy gets rugged. Are you worrying about how your life, livelihood and family will be affected by a recession?
Rises in the prices of food and necessities, increased layoffs and job insecurity, rising health care rates and other daily expenses at the same time that income is dipping–all of these are the every day realities of how families are affected by hard economic times. For those of us who are single parents, we might be used to being frugal and living on tight budgets, but we also know well the precariousness our situations can withstand. Without a second income to fall back on, or taking into account a health crisis or having a cut back in child support, we may feel more at risk when the economy starts to flounder.
There is no denying that some single parent families can be more at risk during a recession. There are steps we can take to try to minimize our precariousness–building up a savings, diversifying our income, investments, finding ways to cut back on expenses and become more frugal, etc. But, that may not necessarily help to alleviate our worries. Even if worrying does not really “help” us prepare or weather the storms any better. With all this talk of recession, are you feeling more anxiety about your single parent family? Are you concerned about job security, rising prices, or financial insecurity? If you are able to hold back the fears and have some good advice for those of us who might be starting to worry, are you willing to share your tips and suggestions?