by RichSingleMomma.com | Sponsored by: The Blyssful Life Course & Community
I haven’t always been a Rich Single Momma. Honestly, I was anything but wealthy when I had my first child. I was broke with a poverty mindset and dealing with financial trauma.
I struggled to make ends meet, lived in subsidized housing, was on food stamps, and qualified for WIC even though I worked full-time.
I drove a series of used cars that let me down eventually.
I felt the intense burden of financial responsibility every single day. It was depressing if I thought about it too much, but I managed to survive to the best of my ability.
Child support barely dented my bills, so I knew that wasn’t a long-term solution. I had to face reality and make a decision about my financial future.
I could stay in my town, at my job, and in economic futility, or (more…)
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.
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A Decision to Change Your Life Forever
Getting through a crisis take a lot of mental and emotional energy. It can have a negative affect on your life if you let it, but you have options (free ones) to help you move past the mental and emotional turmoil. You can turn what looks like defeat into victory by making the decision to take a class that will change your life for you and your kids.
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.
“All the thoughts and dreams of people throughout history, and all you need’s this little card to borrow ’em for free!”
Other children of the ’90s might recognize this lyric from the classic tune “Library Card,” rapped by the cast of the cartoon show Arthur. It’s a silly song, but it’s a solid reminder that libraries can be amazing sources of entertainment and education. And unlike a credit or debit card, swiping a library card doesn’t cost a thing.
But exactly how much can you save by choosing your library card over a credit or debit card?
I recently overhauled my budget, and in the process, I decided to put my local library to the test. The exercise saved me nearly $700 per year in dodged subscription costs—money I now use to make $57 of extra student loan payments per month. Here’s how it worked.
Cutting Back on Entertainment Subscriptions
I’m decent at setting and following a budget. But there I was, facing another month where my family netted $0.
Specifically, I was bugged by how many frivolous entertainment subscriptions we had. I subscribed to a video streaming service here; my husband signed up for a premium account there. Although each account seemed affordable or even cheap, they added up.
Upon review, I realized that in the past year or two, we’ve paid for a number of entertainment subscriptions:
$12 per month for Hulu Plus
$9 per month for Netflix
$15 per month for Audible
$11 per month for online newspapers and magazines
$10 per month for Spotify Premium
We’d mindlessly signed on for $57 per month in subscription fees that added up to $684 per year.
Don’t get me wrong, I think entertainment subscriptions can be a savings-savvy alternative to pricier options like paying for cable or seeing movies in theaters. The problem wasn’t the subscriptions themselves—it was the mindless spending they reflected.
Finding Free Entertainment at My Local Library
I thought I could find better uses for that cash if I canceled those services. But I didn’t love the idea of quitting cold turkey.
My Audible subscription caught my eye first. It cost me $15 per month. But I already used the OverDrive app, available through my local library, to request, check out, and listen to audiobooks for free. So I killed my Audible subscription and gained an extra $15 per month right there.
I wondered if I could replicate those results for other subscriptions. I dove into my library’s digital catalog and quickly found out.
Magazines
My library partners with RBdigital (formerly Zinio) to offer a range of digital magazines. I used the service to replace a subscription to ESPN The Magazine ($2.50 per month) and found lots of other reading material worth browsing.
Newspapers
The New York Times digital pass that’s part of my library membership grants me access to New York Times apps and unlimited articles at NYTimes.com. That meant I could cut $8 per month from my budget and still support an outlet I love.
PressReader is another decent replacement for subscriptions to periodicals, and I can access it for free through my library.
TV and movies
I took the plunge and ended up canceling my $9-per-month Netflix membership of more than eight years. Now, my family accesses documentaries and movies through Kanopy and OverDrive, thanks to our library accounts.
For my 4-year-old daughter, Nickelodeon shows on Hoopla are all the rage, so I was able to cancel my subscription for Hulu Plus and save $12 per month.
Music
My library card granted me access to music streaming and downloads through Hoopla and Freegal. Bye-bye, $8 Spotify Premium fee.
In all, I found $57 worth of monthly fees to cut from our budget. My family easily saves $684 per year while enjoying much of the same entertainment and content we’ve always loved.
5 Tips for Getting the Most Out of Your Library Card
Like most budgeting decisions, trading in your subscriptions doesn’t come without sacrifice. I’ve learned a few tricks along the way to make the most of my library card.
Don’t Forget Analog Entertainment
My main goal in cutting costs was replacing my entertainment subscriptions. However, I can’t always find a decent digital replacement. In many cases, I request a physical copy of the book, movie, TV show, or music album and pick it up during my next library visit.
Get Comfortable with a Little Delay and Inconvenience
A huge benefit of paid subscriptions is instant, convenient access to any content you want on a particular platform.
With library services, there might be a limit on how much content you can check out or access at a time. You might get put on a waiting list for a book or movie as well. It can be an annoying adjustment, but remember that you’re saving money.
Find Other Cost-Saving Materials and Services
Some library districts offer free tutoring services as well as resources to help students study for the SAT or graduate placement exams.
I also found out that my library card gives me access to Lynda.com’s online educational training. This allowed us to replace a $29-per-month membership my husband had been using to brush up on his web development skills and brought our annual savings up to $713.
Take a look at some of the streaming services available with your library card. You might have access to free workout videos, which could replace a gym membership.
Watch Out for Late Fees
Of course, it’s important to watch out for library card fees. One of the reasons I prefer digital library content is that it’s automatically returned when the time is up, so I never get a late fee.
But I’ve racked up some significant late fees and replacement fines for physical items I didn’t return to the library in a timely manner. If you’re not careful, your library fine could wind up in collections and damage your credit.
If you do check out physical copies, get in the habit of keeping track of them and making regular trips to return them on time.
Know When to Keep a Subscription
Some library districts are well-funded and have great selections. Others, not so much. If your library’s pickings are slim, you might decide you’d rather keep your paid subscriptions. Even a big library district with awesome options won’t be able to offer you everything you could hope for.
Although my library offers a robust selection of services, I decided to keep a few subscriptions. My Amazon Prime membership offers tremendous value for its $99-per-year price, including access to free shipping and streaming services for music, movies, and TV shows. My husband loves podcasts and decided he wanted to keep his $5-per-month Stitcher subscription to support the platform.
Take the challenge to turn to your library card before your credit card, and you might be surprised by the savings. And remember: When you cut out monthly subscriptions, you’re saving money not just once, but also every month thereafter.
You can take your new cash flow even further by using it to pay down credit card debt—a smart option, considering the average credit cardholder owes over $4,000. Or you could look for other ways to build lasting wealth, such as saving for retirement or building a side hustle. Find more ideas on how to save money without depriving yourself at Credit.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.
In this day and age, I think we can all agree that a little side hustle never hurt anybody! When approached and undertaken in all the above-board ways, making a little extra family income on top of the main parental or guardian salaries can help to relax the purse strings a little bit and open the door some more family fun throughout the year.
As the saying goes, ‘every little helps’, and if you are dedicated and creative enough, there are dozens and dozens of side projects you can take part in that will help to make some extra cash. To help you get in the right frame of mind, here are five of the most popular family side hustles that are a great idea to get involved with.
Tech Consulting
If you or an older teen in your home has a higher than average understanding of technology, then why not offer your services for hire in the form of lessons and consulting sessions? This can be a small or large scale as you like. For example, there are always elderly neighbours who want to get to better grips with the internet. For a small fee, you can give them a beginner’s guide lesson to make it easier for them to socially network with their family in different locations.
Sell Produce
If you have a lot of land at your disposal, then why not start selling your own produce? Local, organic fruits and vegetables are more popular now than ever before. Lots of neighbors and families from further afield will love the opportunity to buy goods that have come from their own area.
Rental Service
If you have a second property that isn’t always in use, make the most out of it by making it available for holiday rental. There are plenty of online facilities that allow you to advertise your property and set a nightly rate, enabling tourists and visitors to book up instead of staying in a hotel or bed and breakfast. This is a simple and effective way to make extra cash.
Arts & Crafts
If someone in your family is particularly gifted in the arts and crafts department, then you should consider opening up a small side hustle business for things like homemade greetings cards, labels, small sketches, knitted/crochet items or whatever. These types of businesses are especially popular during the Christmas and other celebratory seasons and with secure and safe parcel delivery through ParcelBroker, your small business can be really professional.
Reselling Goods
If your household is the kind that always has extra and unused items in it, then you can swap those items for cash through websites like eBay and Amazon Marketplace. Keep in mind that one person’s trash is another person’s treasure, so rather than simply throwing away the items that you don’t want, see if they gain any interest on the online marketplace sites. It’s an easy way to add to your family’s income.
All it takes is a little thought and effort and you can find side hustles to make extra cash with and for the family.
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.
A life of luxury comes in all different forms. For some, it might mean having the biggest house on the block or the most exclusive credit cardin their wallet, and for others, a life of luxury might be more measured by the friends and family in their circle. No matter your definition of luxury, there are ways to add richness to your life regardless of the amount of money in your wallet.
Spending time with loved ones and continuously working on bettering yourself are just a few things that can make you feel like a million bucks, no matter what your current financial status is. Here are five ways to live a luxurious life without spending any money.
1. Budget Time With Your Family
Life is busy, and it can be easy to fall into a routine of early mornings and late hours with limited time in between. While it’s often easier said than done, make room to budget time in your schedule to spend with the ones you love most. Recognizing the love and support that you are surrounded by every day can be one of the most luxurious components of your life. Money might come and go, but the memories you make with your family will last a lifetime. The things you do in life means more when you are doing them with the ones you love.
2. You’re Worth More Than Your Bank Account
A number does not define you or anyone around you. I’m not at all suggesting that money isn’t a necessity in life, but it’s important to realize that the things you currently possess are worth more than anything. Let your life be defined by your contributions to your community, the positive impact that you have on those around you and the little things that make you extremely happy – and do more of those things.
3. Strive for Happiness
Take a step back and look at everything around you. Think about what truly makes you happy, and what, if anything, you’d like to change or cut back on. Life is a journey and part of that journey is making adjustments along the way to incorporate more of what brings you the most joy. Just remember that happiness will have a different meaning for everyone, so try to avoid comparing yours to the people around you. Whether you’ve been wanting to take on a new hobby, fuel your passion through a side hustle or even make a career change, I hope you’ll feel empowered to go after the things that drive happiness for you.
4. Prioritize Health
Health is one of the most important forms of wealth. Good health allows us to be physically and mentally able to set out to achieve our goals. When our schedules get full our health typically falls to the end of our priority list. A big part of living a luxurious life means feeling it too. Prioritize going to the gym, the doctor or even yoga classes if that’s what it takes for you to personally feel good. Perhaps even a morning run can give you the energy you need to kickstart your day and take on the world.
5. Plan
Having clear goals to work toward can help eliminate the feeling of uncertainty about your future. While no plan has to be set in stone, the one you create can help guide any tough decisions you might encounter in the future. Creating a plan can offer more insight into what’s really important to you, and you might even find that you have most of those things already. Part of luxurious living is having a rich mindset to go along with your everyday lifestyle.
6. Be a Go-Getter
It’s very unlikely that the things you want most in life will be handed to you – that’s what makes life fun! I believe happiness is the biggest luxury in life. No matter what you do or what you want most in life, be a go-getter and be proud of your achievements.
Rachel Dix-Kessler, Bio
Rachel Dix-Kessler is the Consumer Advocate of personal finance comparison website, finder.com. In her role of Consumer Advocate, she analyzes and reports on the spending and savings habits of Americans. Rachel is passionate about studying financial trends in order to provide actionable advice that encourages more people to talk about, and understand, their own personal finances.
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.
Affordable vacations can be difficult to plan. Maybe you have a dream destination, but you can’t quite save up enough for travel costs. Or maybe you can get yourself there, but you’d have to live on bread and water for the entire trip.
If your vacation expenses are just out of reach, a few adjustments can help you put aside more cash and reach your goal. Here are seven ways to save more for your upcoming vacation.
1. Start a Monthly Budget
If you don’t currently have a monthly budget, it might be time to take a hard look at your spending. Evaluate how much you spend each month on necessities like rent and discretionary purchases like movie tickets. Then, set a reduced monthly spending budget and put the money you save in your vacation fund.
Even after you take your trip, you might want to stick to your budget and keep saving.
2. Open a Bank Account
If your travel fund is mixed in with your general savings account or is simply a wad of cash under your mattress, you should open a dedicated savings account just for travel. It will be easier to put aside money specifically for vacation, and you’ll be less likely to dip into the fund for other expenses.
3. Stop Dining Out
Whether you prefer fancy dinners or fast food lunches, eating out is far more expensive than preparing your own food. Cook your meals at home, pack your lunches, and kick the money you save over to your vacation fund. It might hurt now, but you’ll feel better when you’re having a steak and cocktail by the beach.
4. Get a Side Hustle
If you need to boost your vacation savings quickly, a temporary side hustle can help get you there. You can drive for Lyft or Uber, rent out a room on Airbnb, or use your professional expertise for some freelance work. Just make sure to funnel your extra earnings directly to your vacation savings.
5. Sell Your Stuff
Spring is the perfect time to do some cleaning and sell your clutter. You can host a yard sale, take clothes to consignment shops, or list your unwanted stuff on eBay. If you value experiences more than things, let your old property help you get to your destination.
6. Ditch the Gym Membership
Ironically, hitting the gym to work on your beach body might be preventing you from getting to the beach. Cancelling an expensive gym membership will free up some extra funds for your vacation. You can still exercise outdoors, at a friend’s home gym, or make use of the thousands of free workout videos online. Before you do cancel, check your contract to make sure you won’t have to pay an exorbitant cancellation fee.
7. Get a Credit Card
With travel credit cards, your everyday purchases earn rewards that can be redeemed for airfare, hotel reservations, car rentals, and other common travel expenses. Many cards even have huge signup bonuses worth hundreds of dollars in travel redemptions. While you shouldn’t sign up for a credit card for a single vacation (especially if you have trouble managing debt), it’s worth a look if you’re already in the market for some new plastic.
Travel credit cards also frequently offer built-in benefits like car rental insurance, free foreign transactions, and trip cancellation coverage.
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...
