Money Advice for Single Parents

Retirement Savings Options for Stay at Home Parents

Life as a single parent is not easy. Your child is still going to need all of the same things that they would require if they had two parents present in their life. However, there is only one person there to provide this, while also giving the child the love and affection they need. With that in mind, in this blog post, we are going to take a look at some helpful money advice for single parents.

  1. Make sure your partner is paying their way – Of course, there are cases whereby people are single parents because they have lost a loved one. However, if you are a single parent because your other half has simply decided not to be involved, make sure you find a family lawyer who can help you make sure you get the money you are entitled to. If you do not think you can afford the services of a lawyer, there are flexible payment options out there, so don’t dismiss this without assessing your options. 
  2. Get things for free – Nowadays, most local areas have Facebook groups whereby people are looking to sell items. A lot of the items are available for free. You simply have to go and collect them. There are also plenty of free activities if you’re looking to do something with your child. 
  3. Put money away per month for gifts – There is no denying that Christmas can be an expensive time of the year for any family. A lot of parents feel like they are drowning in money problems when it gets to December, as they don’t know how they are going to be able to buy gifts for their child. The best thing to do is put away a small amount of money each month for birthdays and Christmas. 
  4. Make the most of money-saving apps – There are some great apps available today that can help you when it comes to saving money. These apps can assist with budget creation. They can also provide you with notifications regarding coupons and special offers. It’s a great way to make sure you do not miss out on any savings.
  5. Make the most of the benefits available to you – Depending on your income and where you live, there are going to be benefits available to you as a single parent. It’s important to look into these and make sure you get everything that you are entitled to. 
  6. Call up all of your suppliers – From your TV supplier to your utility company, give them a call and find out if there is a cheaper tariff that you are able to go on. You may be surprised by the options that suddenly become available to you once you state that you’re thinking of leaving.

Hopefully, you now feel more prepared to tackle the world as a single parent. We know that it can be incredibly difficult for single parents. However, we hope that the advice that has been provided will help you.

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