Whether it’s the new year, a new job, a new baby or simply the right time to get your finances order, the process usually starts with setting some goals. The first step in the process of achieving your financial goals is to recognize what needs to be done to put yourself in the position you want to be in. Once you’ve identified those goals, you just need to figure out how to accomplish them.
TransUnion, one of the national credit reporting companies, recently asked people what type of financial goals they were looking to accomplish in the next year. Here are four of the most common answers and how you can achieve them if you, too, are looking to obtain financial health:
* Spend less on unnecessary expenses: The first step in cutting out unnecessary expenses is to determine your current spending habits to understand just how much disposable income you have so you can set a monthly budget and manage it wisely. TransUnion Plus is a new tool that allows you input all of your information about your bank accounts, loans and any other accounts that influence how you budget. By examining your spending habits during the past few months and inputting monthly payments and deposits using this tool, you can get a better idea about where you can possibly cut spending. To help stay on track, it is important to check your budget monthly to see how you are doing.
* Achieve healthier credit: Start by checking your score. This will give you a baseline, making it easier to track your progress. From there, check your credit reports frequently and look for any bad financial habits that may be keeping your score down, such as late payments or bloated credit card balances. Checking regularly can also help you minimize your exposure to identity theft and ensure your credit report accurately reflects your credit history. -If you discover information on your report that might not be accurate, you can find an online dispute form at TransUnion.com.
* Save more money: Once you’ve created your monthly budget, you can begin to identify ways to cut unnecessary expenses and save more. Sit down with your financial adviser to see what type of investments, such as a 401k, make sense with any money that’s left over. As you are reassessing your financial goals, review your investments to solidify your returns.
* Pay down existing debts: For most folks, paying down debts is the first step toward saving more, so the two often go hand in hand. Identify which debts carry the highest interest rates and focus on paying those off first. Attack credit card debt before you increase principal payments on “good” debt like students loans with low interest rates. As you’re setting your monthly budget, dedicate any money that’s left over to paying down your debts.
When you’re setting financial goals, it pays to develop a plan that you can execute and then have the discipline to stick to it. For more information about how you can achieve your financial goals and obtain budgeting tools, visit www.transunionplus.com.
Samantha A. Gregory is an author, consultant, and speaker. She’s a single-mom lifestyle, money, and parenting expert featured in The Washington Post, The New York Times, Essence Magazine, HuffPost, ABC News, and Mint.com.
Samantha founded the award-winning RichSingleMomma.com™, the first online magazine featuring personal finance, parenting, and personal development content and courses for single moms.
She aims to inspire women who are ready to thrive and not just survive in their single motherhood journey. Connect with her on Instagram @richsinglemomma.
Recovering from soul crushing heartache is difficult when you have a child depending on you. It’s challenging to grieve a failed relationship when you have to change diapers, pack lunches, go to play dates, and read bedtime stories. During the day you’re on auto-pilot, but when your sweet baby is sleeping you are wide awake with memories that haunt you. It can feel like there won’t ever be a time when the pain isn’t so tangible. It’s not easy but there are things that you can do to move yourself towards a sense of normalcy and healing:
PRAYER
Prayer is something that you can do at any time of the day. It does not have to be formal or long it just has to be earnest and followed by an ounce of faith. Talk to God when those moments of silence become overwhelming. Ask for healing, strength and guidance while you are driving, working or sitting alone. When you are done praying believe- even if it’s just a little bit- that your prayers will be answered. Pray (and cry) as often as needed.
FOCUS ON YOUR CHILD(REN)
It is easy to wallow in your grief and let feelings of powerlessness and rejection consume you. But children have a way of pulling you out of your own head and making you focus on them. You may even find yourself learning from your child as you become immersed in their world.
TAKE TIME FOR YOURSELF
Let’s be honest: too much time spent watching Disney Junior and singing ‘Wheels on the Bus’ will drive you crazy. Take a timeout and reenergize by doing something you enjoy. What happens to a phone with a low battery? The same thing that happens to burnt out mommies.
FORGIVE YOURSELF
This step is the hardest. It is easy to blame yourself for everything that went wrong. This kind of thinking is rarely ever helpful. Accept that you gave your best. The past is done and you are allowed to move on.
There is no definitive time line for the healing process. It takes the brain a while to recognize and accept new patterns so you will probably relapse into moments of despair and mourning. Continue to press forward as there is something greater on the other side of your pain. You can do it and you deserve it.
With Spring Break quickly approaching finding something to do with the children can be a task especially if your a single mother. This year I wanted to focus on spending a more meaningful time with my children and do more to take advantage of a free week in this amazing city of Atlanta that sits in a perfect spot in between South Carolina and Florida.
So I set myself up with a task of finding just that perfect thing to do that would not only shape them and be formative in their experience but was also agreeable with my current financial situation. Below you will find my simple but profound list of five things me and my children have experienced during the week of Spring Break at one time or another my prayer is that they will remember these times as adults and cherish as part of the cool experience of growing up with a single mother. Now, off I go to enjoy Spring break with my four beautiful children without breaking the bank.
1. Volunteer Your Time
As cliche’ as this may sound it really does pay off but “Volunteer your time” is the number one way to have a meaningful experience with your children. In today’s economy all companies are looking for volunteers and if you hit the right place you may even get to enjoy some free activities. Over the Christmas vacation I found this wonderful organization called Hands on Atlanta which is one of the largest community-based volunteer service organization in the United States. You can register for all kinds of events ranging from NBA basketball games, the Circus, food tasting and the list goes on and on. Once you sign up for an event you not only have the opportunity to volunteer and share that experience with your children you also get to join in the festivities for FREE what single mother can beat that?
2. Go Back to Basics
Go back to the basics. The world has become a busy place filled with technology and appointments we have forgotten about how we grew up. We grew up playing outside, going to the parks and enjoying the great outdoors. Buy some water guns, balloons and grab your children and burn that energy outside show them that we don’t need a lot of money to bring a little happiness to the scene.
3. Buy a City Pass
The most affordable way to see some of the top attractions in the city is to buy a city pass. City pass, is the original attractions discount provider, it allows you to see a variety of Atlanta (or other major city) within nine days at 40-70% discount. You even have the opportunity to skip the long lines something my kids fine to be really cool. Here is the link to the CityPass website: CityPass.com
4. Spend the day at the Beach
Atlanta is nestled right in between some of the World’s best beaches in either direction. Grab yourself a picnic basket, some Dollar Tree floats, a blanket and your wonderful kids, gas up the car and drive. I always try to leave in the middle of the night to give myself some mommy time before I encounter a day of fun in the sun. Your home may be near several beaches or attractions within driving distance. Get out, explore, and be pleasantly surprised at what you discover right in your own backyard.
5. Turn Your Home into a Vacation Spot
One of my favorite things to do sometimes is to just stay and enjoy my home one spring break me and the kids decided to just stay home for the week and then they came up with the great idea of turning our home into a vacation spot. Every day of the week one of my children took turns and gave us their version of one of the places they like to visit. My house went from Mexico to Spain in one week. My children decorated and even cooked, my oldest children tried their very best to make me some non alcoholic fruity beverage and we took pictures just like we were away. That was one on of our best Spring Breaks and I am looking forward to it this Spring Break.
Whatever you and your family decides to do for your Spring Break just remember it’s not about where you go or what you do its about that bonding time and giving your children that moment that they will cherish forever.
This year we went to Savannah and Tybee Island Georgia for Spring Break 2013. The drive from Atlanta was about 4 hours and the weather was great. We didn’t spend much time in Savannah because we wanted to get to Tybee Island to see the light house.
The lighthouse was closed when we got there but we still got to see it and the house in front. It was our first time every seeing a lighthouse so it was pretty cool.
The beach was nearby so we walked over to hang out for a while. The water was very cold of course but that didn’t stop my daughter from checking it out.
I got a few shots of the beach.
Kids on the beach
and the lighthouse in the distance.
After a long day we checked into the Springhill Suites for a restful night. We fell in love with this hotel. It was a little more than I normally spend but it was worth every penny. The only two issues were the strong smell of bleach in the lobby and the water pressure was not that good but otherwise everything was great.
We ate at Houlihan’s that was right next to the hotel. It was kind of late so I had the baked potato soup, my daughter has grilled salmon and mashed potatoes, and my son had his standard burger and fries. Everything was delicious and I highly recommend it.
Sorry no pictures of the food. It was so good I forgot…
Samantha A. Gregory is an author, consultant, and speaker. She’s a single-mom lifestyle, money, and parenting expert featured in The Washington Post, The New York Times, Essence Magazine, HuffPost, ABC News, and Mint.com.
Samantha founded the award-winning RichSingleMomma.com™, the first online magazine featuring personal finance, parenting, and personal development content and courses for single moms.
She aims to inspire women who are ready to thrive and not just survive in their single motherhood journey. Connect with her on Instagram @richsinglemomma.
Hi! Welcome to RichSingleMomma.com. I started this website almost a decade ago because I couldn't find any blogs back then that helped single moms with money. I was having some success in that area so I decided to share what I knew about side hustles, making extra money, and managing money. Read more...
* Achieve healthier credit: Start by checking your score. This will give you a baseline, making it easier to track your progress. From there, check your credit reports frequently and look for any bad financial habits that may be keeping your score down, such as late payments or bloated credit card balances. Checking regularly can also help you minimize your exposure to identity theft and ensure your credit report accurately reflects your credit history. -If you discover information on your report that might not be accurate, you can find an online dispute form at TransUnion.com.
