Tips for Single Moms: Making It in a Bad Economy

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It has always been difficult to be a single mother, but the current economy is making it even more challenging. Trying to make it on a single income while raising one or more children is rough, even if you are getting child support. Unfortunately, many mothers don't even have this extra to help them out.

One great thing about single moms is that they tend to be particularly tenacious and are able to do what it takes in order to ensure a safe future for their children. Here are a few things you should consider if you are in this situation.

Set Up an Emergency Account

Being a single parent means having fewer friends and family to turn to if something goes wrong. You will need the security of an emergency account. No matter how much you have to scrimp and save, put money into this account each month.

Your emergency account should be separate from your other money, and for best results, have the bank pay into this account automatically when your paycheck comes in. Anything extra that you earn should also go into the emergency account until you have enough to live on for at least 3 months, though 6 is even better. While it might seem like a lot of cash to put away, imagine how secure you will feel if something happens and you lose your job or someone gets sick.

Cut Grocery Costs

This is an area that nearly everyone can cut back on. If you aren't down to oatmeal and rice, then you can cut back somewhere. Most people don't need to be nearly that extreme, but just keep in mind that apart from food and shelter, everything else is a luxury.

Clip coupons and use them on double or triple coupon day to ensure you get the best deal possible. If there is a great deal on something, buy extras right then. You can also save quite a bit of money simply by opting for store brand versions of things like milk, flour, eggs, etc. You won't notice the difference, but can save several dollars per shopping trip just by making this change.

Start a Little Something on the Side

Your main job doesn't have to be your main source of income. It's often difficult for single moms to work two jobs because of childcare costs. Also, if you want to actually see your children while they are still awake, a second job probably isn't feasible. That is, unless you work at home.

While you have to be careful not to fall for scams, there are opportunities to work from home. Transcription, writing and graphic design are just three areas where you can earn some extra cash after the kids are in bed. Every little bit helps, so even if you can only work an hour or two each evening, you'll have some extra money to put into your emergency account.

Do More Things for Free

Often, single parents feel that they need to make up for the absence of the other parent. Buying that special toy your son wants or investing in ballet lessons for your daughter might be a way you try to make up to your kids. However, while a few lessons might be good for kids, the best thing you can give them is yourself. Take the time to do things with them and watch how happy they are.

Doing things with them doesn't mean expensive movies or trips to Disneyland; you can do a lot for free. Take a bike ride together, hike through a nearby national park, or hit the library together. Look in your local paper's upcoming events section to find even more fun activities. Sometimes there will be free art classes, a concert in the park or face painting at a local venue. Parks and libraries often have demonstrations, activities and readings, which you can enjoy with your kids. And best of all? It's completely free!

Being a single mom is never easy, particularly when the economy is looking so bad. That doesn't mean you have to suffer, though. With a little planning and preparation, you can get through the recession and not just survive, but thrive.
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