Single parents always encounter money problems. Since they manage the home without a partner, they usually face the future a little scared and worried. Some resort to impulse buying, which does more harm than good.
In order to help you, single parent in managing your finances, here are some tips that would help make your life a little bit manageable.
1. Never resort to impulse buying; spend according to priorities. When you go out to shop, make a decision early on to buy only what is needed. Normally, food comes first, then home, then clothes, then education.
2. Buy from one shopping center to another. Doing this gives you greater leverage to find better deals. Buy your food stuff from thrift stores. Wait for discount offers when you want to buy clothes or furniture. The money you save may be used to defray other expenses.
3. Think of ways to save on transportation expenses. You would save a lot of money if you are relocating to a home near your kid’s school or your workplace. Take the public transport if your destination is accessible to it. Use the car only when necessary. Make the most of your trips if you use the car to save on fuel.
4. Do your leisure in public places. Public parks, libraries or museums are great money savers. Aside from the money you save, they provide healthy forms of entertainment.
5. Do wholesale shopping if you can. Buying in bulk can allow you big discounts. Buy items that would easily run out such as food and toiletries.