If you’re a single mother these days, then you probably don’t need anyone to tell you how hard it is to raise a child, or multiple children, and always make ends meet.  Often times, we rely on a combination of credit, extreme determination, and the grace of God to get us through.  Staying on top of your finances and following budgets can certainly be hard work among all the various other things you’ve got to worry about.  That’s why I’ve compiled this short list of tips that have helped me stay debt free, and on top of my financial obligations during times of serious struggle:

 Prepaid Cards

Prepaid debit or credit cards are some of the best options for those problem spenders out there that can’t seem to shake bad credit habits. Because you control how much goes into a prepaid card, there’s no risk of overspending or getting behind on payments.

They also offer the benefit of making you more away of how much you’ve got in your account and how much you’re spending on a day-to-day basis; checking your balance is usually as easy as logging in online via a computer or smart phone and makes for some very easy monitoring.

Getting a prepaid card is also extremely easy.  Just hop online and apply for a Green Dot credit card or a similarly helpful card that’s right for your needs.  In my personal finance journey I’ve found that these cards can truly help keep you out of debt and get you on the path to better spending habits in no time.

 Budgeting

I know it’s often hard to stay on track with budgets, but if you can create one and really stay adamant about following it, you’ll be saving more money than you realize.  Take the time to write down all of your expenditures over a two or three-week period, and then go back and look at that list.  You’ll probably be   appalled by the amount you’re spending on unnecessary items or items that you could do with less of.

Once you’ve got that information, you can start planning a monthly or weekly budget that only allows for the essentials, plus a small stipend for unexpected costs that pop up here and there.  This will save you tons in the long run if done properly, and is a great way to even start saving some money on the side for the future.

Credit Use

If you absolutely have to use credit cards, there are some important rules to follow for staying out of debt.  The biggest one is don’t use your card unless you absolutely have to.  I know it’s easy to pull out that little piece of plastic whenever you see a cute dress or something you feel like you really want, but in the end, it’s these impulse purchases that can kill your credit.  Also, try to keep your credit card count to one card if possible.

By opening multiple lines of credit you increase your risk of forgetting about payments or being late on others, which can be detrimental to your credit score.  This also brings us to the next point, which is make your payments on time and in full at all costs.  Missed or late payments not only damage your credit score, they will ultimately increase the amount you owe in accrued interest.  One or two late payments can lead to three or four, which can in turn snowball into a whole mess of debt.  Staying smart with your credit card(s) is probably the biggest tip to staying debt free in this harsh economy.

In using these three tips personally, I’ve gotten myself into much better spending habits and reduced my risk for debt substantially.

Although I still struggle in the day-to-day grind that is single motherhood, it’s nice to know there are others out there dealing with the same things and trying to improve all the while.  Hopefully these tips help you and your family through the times, and can potentially save you some extra cash in the end.

Samantha Gregory

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.