Single Mommy Budgeting

I have always thought that budgeting was essential to everyone, but becoming a single mommy has made it even more important. Before I only had my needs to worry about now I have to think about the baby food, diapers, clothing, medical, and the babies future in addition to my expenses. Budgeting and finding ways to save money is more important than I had ever thought before.


Some Things to Help a Single Mommy Make a Budget, and Save Money:

1. Know exactly what is coming in to your home
       To begin a good budget you need to know where all of your money is coming from and how much it is. This could be child support, employment, side income, government help, etc. The only thing I would not include is BONUS money that may or may not come in.

2. Know All of Your Expenses
       Take time to write down your expenses for ever month. Some of these expenses may vary from month to month, but keep the amount as accurate as you can. In addition to your household bills you should include miscellaneous expenses such as; gas, fast food purchases, drink purchases, entertainment, etc. You can get an idea about your average spending by keeping track of all of your spending for a month. If you have items that you have to pay yearly you should divide that amount by 12, and put up that amount each year. This will help you avoid having to come up with one large lump sum.

3.Prepare Yourself For The Unexpected
      There is always going to be something unexpected come up, and we should try to be prepared for those situations. These unexpected things could be anything from car problems, to your child needing $10 for a school. Putting money away is important for everyone, but I am noticing that single parents have a lot of things come up. Preparing for the unexpected can be done by simply putting up a few dollars a month into a savings account or hid at home. Most place I read that you need at least six months of expenses put away, but most people cannot afford to do that. If you are one of those people, every small amount put up is helpful.


4. Cut Your Expenses to Save Money
         Now that you know what money is coming in, and what money is going out, you will be able to see what expenses can be cut out of your budget. Sometimes it takes us to be very critical of ourselves to cut things that we think we need. Begin by reducing your everyday spending on items that you can do without, then work your way up to the big items. There are many ways to cut your expenses, you just have to really decide that you want to stick to your budget and save money.

5. Live Within Your Means
        I see so many single parents trying to keep up with people that they know that have two incomes, most of us are not able to do that. Move if you can't afford you living arrangements, avoid big ticket purchases that you may not be able to pay for later, and avoid running up any debt that you may never pay off. This will help you a lot in the future, and you may be able to do a lot more once you get all of your finances in order.

This is just the basics of making a single mommy budget. Take these steps, and run with them. I was always worried about my future, but the kids future is so much more important than I had ever thought. Kids are expensive too, but worth every penny.



Helpful Articles:

How to Live Within Your Means


How to Save Money on Household Purchases


50 Real Ways to Save Money in Your Home

Save Money When You are Expecting