Single Mom Money Tips – Online Money Management

by | Sep 28, 2011


Bank online and view your statements regularly. I hate opening regular mail so email is very convenient and will likely get opened. So when my bank statement comes in the mail I just stare at it and toss it to the side.

This is why I advocate banking online because I can check my accounts, look at my statements, and practically solve problems (rare as they are) in real time.

Online banking also lets me see what I am spending my money on over a period of time. It is very convenient to download my account history to Excel or other account software.

Debit Card to Track Money
Use your debit card (not credit cards) to make all purchases. I rarely carry cash so if a person wants to rob me, well they are pretty much out of luck.

I only use my debit card because it helps me keep track of money spent. The debit card can also be used as a credit card for those times I need to rent a car or make purchases online.

It’s also convenient when I don’t want the money to come out of my account right away.

Single Mom Money Tips – Get a Deeper Education in Money

by | Sep 27, 2011


Find a money mentor, read books about finances, and begin to view money as a tool not a weapon.

If you are having problems with money (fears, overwhelming debt, overspending) you may need extra help.

This help can come in the form of a mentor, books, websites, and blogs. The first step is acknowledging that there is a problem.

Your thoughts about money are the problem and not you as a person. There may be changes that you have to make to have peace with money but do not become depressed because of it.

Taking a proactive approach is empowering and will likely help you through the process. There are many good websites and books to get you started such as ##

Single Mom Money Tips – Search Classified Ads for What You Need

by | Sep 26, 2011


Find the things you want and need on Craigslist, local classifieds, and Freecycle. It is not always necessary to buy the things you need new.

Some people feel better with warranties and such but if the item has worked for over a year with the original owner there is probably more life left.

Depending on your needs at the time a used item may be just the solution to the current problem.

Buying used is a good option if you need something now at a third of the price of what you can buy new. You can then save for the new item and purchase it in a couple of years.

Items for kids are normally built for a lot of wear and tear such as beds, dressers, clothes, and toys. If your child is rough you probably don’t want to buy new anyway.

Craigslist is top on my list for finding quality used items. I search there when I want or need something for much less than I’m willing to pay retail.

If you don’t have an active Craigslist community then your local classifieds may be the answer.

If you haven’t heard about it, you should subscribe to your local Freecycle list. It is a group of people who prefer not to fill the landfills with their stuff so they give it away, for free, to people who need it and are willing to pick it up.

People are giving away perfectly good stuff on these lists and it is very busy. You will likely find what you need or can simply request it in no time.

Single Mom Money Tips – Save for Vacation for 24 Months

Single Mom Money Tips – Save for Vacation for 24 Months

by | Sep 24, 2011


Start saving for your vacation two years ahead of time. You won’t have to spare any expense and are guaranteed to have a stress free time.

When I went to Disney World with my daughter I was able to get some good deals and have a really good time. But while I was there I looked at the luxury hotels and wished I had saved a little more money to splurge.

The trip was virtually worry and stress-free though. I didn’t have to worry about driving because we flew. I didn’t have to worry about transportation because the bus picked us up from the airport and we had shuttle service to the parks.

I got multi-day passes so we could visit the parks as often as we wanted to. Food was no problem because my daughter ate free and I didn’t eat much anyway. In short it was a very good trip because I was able to pay for all the things I wanted.

But if I had saved for a year or two the trip would have been even better. So save up your pennies, make extra money by selling stuff you don’t need, do freelance work, and look for discounts. You can have the trip of a lifetime because you planned for it in advance.

Another tip is to pay for things over time. Buy the plane ticket months in advance when you have the money. Reserve the room and send the money when you have the right amount.

Simply take each element of the trip and pay as you go so by the time the day comes you will have very little to worry about financially except spending money.

Single Mom Money Tips – Worry Less, Love More

by | Sep 23, 2011


Worry less about money and more about loving your life and your kids.

When bills and needs loom above your head it is hard to forget about money problems. If the rent or mortgage is late or the car note is about to be two months late the problem is very real and overwhelming.

I have been there and the stress almost strangled me. After a while I had to ask myself the question, “What is the worst thing that can happen?” If the worst thing wasn’t losing my kids or my life then it would be okay.

This mental shift did wonders for my stress level. If my car was taken or I got kicked out of my home I would be okay just as long I had my kids and my health.

I am a firm believer in starting over. Nothing is so insurmountable that simply beginning again is impossible. Learning to love my life, the way it is, with all it’s obstacles, problems and past issues is way better than stressing and complaining about things I cannot change (at the moment).

My kids, your kids grow up only once and you deserve to be there (in body and mind) for the entire wild ride. They won’t remember the money problems but they will remember stargazing or eating ice cream on a hot summer day.

Single Mom Money Tips – Check Your Credit Report

by | Sep 22, 2011


Get a free copy of your credit report each year. If you live in a state that gives a free credit report each year then get it. If you don’t go to freecreditreport.com and pick up yours.

Some banks offer credit reports but there may be a monthly monitoring fee after one month. Forget about that and just get the report if you are not trying to buy a house or car right now.

Monitoring your credit report can become obsessive after a while. A yearly review of your credit report is good enough for right now.

If you have a common first and last name you’ll want to be sure that there are no accounts that do not belong to you. The social security number is the key to your identity.

If you were married or had joint accounts before now check for accounts opened in your name but you didn’t authorize. You have the right to dispute any account or detail in your report that is inaccurate.

Get to know the Fair Credit Reporting Act. It can be a lifesaver.