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 prioritizing. I cut out all of those things that are not necessities or things that we really enjoy and love. For example, we can live without cable television, but we do watch movies and DVDs. Frequent trips to the library to check out movies and even television series’ on DVD keep us from feeling deprived and it saves me nearly $700 a year.
My kids and I love to eat out at restaurants, but we definitely cannot afford to do it all the time. Going out to lunch is cheaper than going out to dinner and watching the beverages (or going to places where the refills are free or “bottomless”) can help cut back on expenses too. One of the things that has saved me hundreds of dollars over the years is developing a great pizza dough and pizza recipe. I can make plenty of pizzas from scratch when we get a pizza craving (which is usually about once a week) for a few dollars instead of paying for take-out. It costs me about $3 to get plenty of freshly-sliced good-quality pepperoni from my favorite local deli and good-quality cheese is more affordable than ordering out a ready-made pizza. Luxury, delicious food, plenty for everybody, and CHEAP.
As a single parent, your life does not have to be about deprivation—feeling left out, giving up and avoiding doing things that might cost money. With some creativity and prioritizing what makes you feel like you’re truly living life—you can let go of other expenses and still have the money for the things your family enjoys.
Also: Good Old-Fashioned Savings
and the Frugal Blog