{"id":1980,"date":"2018-08-18T16:34:57","date_gmt":"2018-08-18T16:34:57","guid":{"rendered":"https:\/\/littleloans.co.za\/blog\/?p=1980"},"modified":"2018-07-27T16:21:45","modified_gmt":"2018-07-27T16:21:45","slug":"budget-save-money-single-parents","status":"publish","type":"post","link":"https:\/\/littleloans.co.za\/blog\/budget-save-money-single-parents\/","title":{"rendered":"How to Budget and Save Money for Single Parents"},"content":{"rendered":"

Just over 30 percent of South African children<\/a> live in two-parent households. About 4 percent are raised by single fathers while a whopping 39 percent are raised by single mothers.<\/p>\n

That’s a lot of single parents, right?<\/p>\n

If you’re one of them, you know how difficult raising a child on your own is. The financial strain can be physically and emotionally draining.<\/p>\n

But budgeting properly can help alleviate some of the pressure.<\/p>\n

Where, though, do you begin when budgeting for single parenthood?<\/p>\n

Let’s find out how to budget and save money as the head of a single-parent household.<\/p>\n

Stop Paying Your Bills Late<\/h2>\n

As a single parent, sometimes you don’t have money to spend on the necessities. So clothing, food, utilities, and bills might not always fit into your budget.<\/p>\n

But here’s the truth:<\/p>\n

You should always budget to pay your bills<\/strong>.<\/p>\n

If you and your children have nothing else, at least you’ll have shelter. Further still, paying your bills on time saves you money because you don’t get charged late fees.<\/p>\n

Thrift Household Items<\/h2>\n

There are many benefits to purchasing new furniture, decor, and clothing. You know you’re getting quality items that won’t fall apart on you.<\/p>\n

You, however, don’t have that luxury.<\/p>\n

Buying brand new items is only going to limit the amount of money you have to spend on your bills, utilities, and food.<\/p>\n

That said, find some local thrift shops and regularly use them.<\/p>\n

Say “No” Sometimes<\/h2>\n

Many single parents feel shame about their predicaments. They want to provide for their children but often don’t have the means to do so.<\/p>\n

Some single parents even become depressed. Single mothers, for instance, are much more likely to experience depression<\/a> than other parents. They’re plagued by mental health problems and often feel isolated.<\/p>\n

Which leads us to our next point:<\/p>\n

It’s okay to say “no” to your children<\/strong> if you can’t afford what they’re asking for.<\/p>\n

You haven’t failed as a parent just because you can’t buy your children new toys or clothes every month. You’d presumably give them everything they wanted if you could. But you don’t have the money.<\/p>\n

If you want to treat your children every now and then, budget for that treat as well. You could set aside a certain amount each week and use the money when the time comes.<\/p>\n

Create a Spending Plan and Stick to It<\/h2>\n

One of the toughest things about budgeting is creating a spending plan<\/a> and sticking to it. This is especially true when you can’t afford the bare necessities but still want to entertain your children.<\/p>\n

Start putting a spending plan together by sitting down and figuring out your expenses. Plan to set aside what you need each month and go from there.<\/p>\n

Ask yourself important questions such as:<\/p>\n