6 Financial Tips for Single Moms by Diane Johnson

There are more women in the workforce now than ever before in the history of the world. And there is no better time than now to take control of your finances by following these tips for single moms to stay financially fit.

 

1) Don’t tolerate dead beat dads

While you can’t make him want to pay child support, you can virtually assure that he pays it. Many states allow you to insist that child support payments be made to the court, instead of directly to you. This has the psychological advantage of making the payment feel more official, and dead-beat dads are much more likely to pay up.

 

2) Crack open the coupons

It might be the most entertaining task in the world, but the fact of the matter is that you can save a ton of money by clipping coupons and using them dutifully. Whenever you walk into a grocery store, look around the entry area to see if there are any current flyers; these often contain many of the best deals.

 

3) Only buy generic brands

Despite what you want to believe, generic-O’s taste exactly the same as Cheerios, and they cost a lot less. Don’t allow yourself to pay for flashy packaging or advertising campaigns. Stick with the generic brands, or even consider shopping at a local dollar store. You might be surprised what sorts of items you can find for prices you wouldn’t have thought possible.

 

4) Skip the Dry Cleaners

Let’s face it: expensive clothes require expensive cleaning procedures. Taking your clothes to the dry cleaners costs quite a bit more than washing them at home, so keep this in mind as you manage your wardrobe. It’s probably time to stop buying clothes that are dry clean only.

 

5) Pass on the soda and snacks

Having a soda here and there adds up, especially if you are buying them from a vending machine or restaurant. Start packing a water bottle with you. If you just have to have a soda, then buy it in bulk from a grocery store. The same with snacks. Homemade snacks are typically much healthier than store bought snacks and cost a lot less.

 

6) Buy Used

If you can stand it, buy your clothes at a second hand store. That new car you’ve been wanting? Buy a used one instead. Craigslist, Ebay, and Amazon have just become your best friends.

 

 

About the author: Diane Johnson graduated from the University of Utah with a degree in political science. When she's not traveling she enjoys writing articles about pell grants, reading books, and shopping.