How to Save Money as a Single Parent
Set up a budget., Avoid taking on additional debt., Monitor your current spending., Look for ways to cut back., Save on child care expenses., Shop with lists., Buy discount clothing., Join a library for books and movies., Cut back on meals out.
Step-by-Step Guide
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Step 1: Set up a budget.
Use your income to determine how much you can spend and save every week or month. , You will not save money by opening new lines of credit.
Instead of getting new credit cards, work on paying off any debt you currently have. , Evaluate what you spend on bills, child care, insurance, food, clothes and transportation. , For example, switch to a cable plan that costs less, or cancel your gym membership and start walking. , Ask for help from relatives and friends before you spend money on babysitters.
Look for low cost child care referrals from your church, school and neighbors.
Keep all of your children in the same daycare center to take advantage of sibling discounts.
Use county and municipal resources for child care, if any are available.
You can also contact nonprofit organizations such as Child Care Aware for help in finding low cost child care. , When you go out for groceries, cleaning supplies or other household items, write a list of what you need before you go.
Clip coupons and compare prices.
Aim to bring your grocery budget down as much as you can. , You can spend less on clothes by accepting hand-me-downs from friends who have kids older than you.
Shop at second hand stores for yourself and your kids, or take advantage of seasonal sales and clearance racks.
Shop online.
You can find good deals on sites such as eBay, Amazon and Craigslist. , Instead of buying books and renting movies, get a membership at your local library, where you and your kids can borrow materials for free. , Cook at home instead of eating in restaurants. -
Step 2: Avoid taking on additional debt.
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Step 3: Monitor your current spending.
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Step 4: Look for ways to cut back.
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Step 5: Save on child care expenses.
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Step 6: Shop with lists.
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Step 7: Buy discount clothing.
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Step 8: Join a library for books and movies.
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Step 9: Cut back on meals out.
Detailed Guide
Use your income to determine how much you can spend and save every week or month. , You will not save money by opening new lines of credit.
Instead of getting new credit cards, work on paying off any debt you currently have. , Evaluate what you spend on bills, child care, insurance, food, clothes and transportation. , For example, switch to a cable plan that costs less, or cancel your gym membership and start walking. , Ask for help from relatives and friends before you spend money on babysitters.
Look for low cost child care referrals from your church, school and neighbors.
Keep all of your children in the same daycare center to take advantage of sibling discounts.
Use county and municipal resources for child care, if any are available.
You can also contact nonprofit organizations such as Child Care Aware for help in finding low cost child care. , When you go out for groceries, cleaning supplies or other household items, write a list of what you need before you go.
Clip coupons and compare prices.
Aim to bring your grocery budget down as much as you can. , You can spend less on clothes by accepting hand-me-downs from friends who have kids older than you.
Shop at second hand stores for yourself and your kids, or take advantage of seasonal sales and clearance racks.
Shop online.
You can find good deals on sites such as eBay, Amazon and Craigslist. , Instead of buying books and renting movies, get a membership at your local library, where you and your kids can borrow materials for free. , Cook at home instead of eating in restaurants.
About the Author
Heather Hughes
Heather Hughes has dedicated 3 years to mastering lifestyle and practical guides. As a content creator, Heather focuses on providing actionable tips and step-by-step guides.
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