Single Mom Money Tips: Get a Side Gig for Extra Money

by | Sep 7, 2011


Find a way to make extra money from your skills and talents.

I talk about this on my blog and now I am talking about it again. It is almost a sin to not have multiple streams of income. It doesn’t have to be consistent at first but enough to give you extra money for the special thing you want to do or have.

You don’t have to have an MBA to run a business but you do need something you are passionate about or just be able to see what people need/want and fill it.

Check out my blog for side hustle ideas.

Single Mom Money Tips – Set Up Direct Deposit for Child Support

by | Sep 6, 2011

Get child support payments direct deposited. There is nothing worse than waiting for a check to arrive in the mail from your ex.

It is often a hit or miss deal and the frustrations that build are not good for you or the kids.

If you are getting support through the state you should have that option. If you have an agreement with your ex insist on having the funds transferred to your account.

The money will be taken out automatically so you won’t have to worry about getting the funds on time. If you are not getting child support please find a way to get it.

For more information read my new ebook on the subject.

Single Mom Money Tips – Switch to a Credit Union

by | Sep 5, 2011

Join a Credit Union to avoid outrageous bank fees.  Banks are notorious for squeezing every nickel and dime out of people. There is a fee for everything from checks to account balances below a certain amount. Forget about all of that and join a credit union.

I know I sound like a commercial for credit unions but I know first hand how great they are. You get free checking and saving and your money will earn interest over time.

There may be a credit union available through your employer, your state, or your school. Join as soon as possible and rest easy that the money you deposit will start making money for you instead of disappearing because of the fees. (look for credit union website)

Single Mom Money Tips – Prepare for a Rainy Day

by | Sep 3, 2011

Have a savings plan to prepare for emergencies. Putting away money for a rainy day is very empowering (I’m speaking to myself here). As your money grows you begin to feel more secure in knowing you have the funds to take care of unexpected expenses.

It is hard to predict when an emergency will happen that will require a large chunk of cash. If you have money saved that is specifically for these times your stress level will go way down. You will not feel desperate and resort to uncharacteristic behaviors.

It is recommended that you have $1k-3k in savings. If you can manage to save at least $500 that is better than nothing. Open up a separate account for your rainy day fund. Use your tax refund, raises, or other windfall of cash to fund this account.

Single Mom Money Tips – Get the Kids Involved in the Process

by | Sep 2, 2011

Involve your kids in creating and maintaining a budget. They should know how the money is spent so that they can be more sensitive to money limitations.

The older they get the more money they will want. When you let them know where the money has to go they may be more sensitive to why they can’t have everything they need.

When they know approximately how much money is coming in and how much has to go out to maintain a life they will be more sensitive to your role as provider. This might encourage them to find ways to earn money on their own.

Sit down with the kids when you are creating the budget. It could be a weekly, monthly, or quarterly exercise. Realistically, the more frequently you talk about money the better.

Be sure to convey it in a positive way. If kids see or feel your negativity about money they will begin to see managing it as something to be avoided.

My daughter and I talk about money, spending, earning, saving, and giving. It’s all a part of life so I feel it’s important to discuss it. I make it a point to listen to the morning business report as well. This is all a part of educating my child about money.

Getting the kids involved in the spending plan process is a positive thing in their lives. They will keep the lessons you teach because it is practical and impacts their lives in a very real way.

Hard Times? Sometimes You Just Have to Speak Up

by | Sep 1, 2011

Something incredible just happened to me and I want to share it with you. I called a company I have an account with to cancel the service because I’m cutting expenses. Usually I try to do everything online because I honestly don’t want to talk to people at times. But there was no place to cancel the service online so I had to call the company.

The lady who took my call was very friendly and courteous. She listened to my problem then offered a solution. She asked me if I enjoyed the service, which I did, and then told me I could have it for half price. Yep! Half price! I would still get all the full-featured benefits and not have to lose anything.

The best part is I can still cancel anytime if I need to but this pricing is good for the next 12 months! I’m so happy about this I had to tell you. Sometimes you just have to pick up the phone and tell people the situation. More than likely people and companies will work with you.

So no matter how inconvenient or annoying you think the call will be, give people (and companies) a chance to come through for you.

In this climate of greed and self-service, there are still quite a few good companies out there that care about their customers.

Do you have any favorite companies? I am going to do a list in a post very soon and I’d like to include yours too.