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single mom vacation tips

6 Money Saving Single Mom Vacation Tips

single mom vacation tips

 

For single moms, saving up enough money to take a vacation with their kids can be a challenge when they’re working to support their household on just one income. While it’s important to create memories and escape the daily routine, often times single moms don’t have the extra money to spend on fun and travel. Below are a few tips we put together for single moms on how to provide great memories for their children while remaining on a budget.

Single Mom Vacation Tips

1. Savings Goals & Realistic Travel:

It has been my experience that when I save for a specific goal, I’m more successful. Instead of saving for a “vacation someday” try saving for a “3 day weekend trip to the beach two months from now.” Your children will most likely want to get away from home at least once this summer, so start looking into affordable vacation spot a few months in advance as prices are cheaper the further in advance you book. This gives you plenty of time to start putting money away for your much needed time away with your children.

2. Take Advantage of Online Deals:

In today’s digital world, getting deals on travel has never been easier. When it comes to places to stay you can take advantage of deals that are published by the multiple online or limited deal sites such as Groupon GetAways or Amazon Local. You can book a place to stay on AirBnB or you could partner up with another single mom to vacation together giving you a way to share the costs and have a little adult interaction while on vacation.

3. Create a Budget:

Figure out how much you will need to save towards taking a vacation, and have the money taken directly out of your paycheck and transferred into a separate savings account. I personally love using Mint.com for this, and the best part is, it’s free!

There are also a bunch of other savings apps that have popped up recently such as Digit that helps you save by taking out money based on your spending. Another free app is my app SupportPay, which helps you track the expenses around your children so you can easily see where your money is going and give you the information you need to reduce spending.

Websites and apps like these allow you to save for your vacation without having to think about it.  Be sure to check in on your accounts every so often though to make sure you are staying on budget so there are no surprises when you want to take your vacation.

4. Start a Change Jar:

Pinterest has some cute ideas to decorate change jars. Some people like to save all of their change, and some prefer to save dollar bills only. Figure out what works best for you, and make it a habit to set aside the extra cash every chance you get. To encourage your kids to get involved, make a game out of collecting extra change by setting goals or rules that cost money when broken. Setting family goals that your children can participate in is a great way to teach them the value of a dollar, and how to save for activities they want to participate in.

5. Give Something Up:

If you want to get really serious about saving for a vacation, giving up something for a month or two can really make your savings account balance grow quickly. You could give up eating out for a month, not going to the movies, not buying new clothes for one month, take a cable TV break, etc. Also, you can take advantage of the sharing economy by renting items you aren’t using or you could rent out your items and make some money on items sitting around the house.

Sell Unused or Unwanted Items:

If you’ve got a little spare time on your hands, spend a couple of hours and take a quick tour of your house, pulling out all the outgrown clothing, toys, electronics, and movies that you no longer need. There have recently been several apps that have launched that make it really easy to sell your items. For example, Letgo, thredUp, and Decluttr are apps that enable you to take a picture and quickly post your item for sale. Of course, you can always have a garage sale, this could make you money and help you meet your neighbors.

Being a single mom isn’t easy but with a little planning and some creative ways to save money or make a little extra, you can give your kids the vacation memories they want with the money you have.

The post 6 Money Saving Single Mom Vacation Tips appeared first on Divorced Moms.

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10 Easy Ways to Save Money After Divorce

10 Easy Ways to Save Money After Divorce

Let’s Make Your Life Financially Easier

The post 10 Easy Ways to Save Money After Divorce appeared first on Divorce Magazine.

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save money as a single mom

12 Ways to Save Money as a Single Mom

save money as a single mom

 

Raise your hand if you’re a single mom and you want to know how to save money. Budgeting can be expensive for two or more if you’re the only breadwinner.

It can be overwhelming to manage your funds, especially if you have no idea where to start. But the good news is that we have heard your prayers and we’ve got 12 tested ways to help you as a single parent save money.

How to Save Money as a Single Mom:

1. Sort your Bills

An enormous number of bills can be overwhelming to sort through if you let them pile up. It’s wise to organize your bills according to criteria so that you know the exact amount that you owe and to whom. Try and pay off each bill as they come so that you don’t get tied down with paying a bunch of them at once.

2. Recognize the Bad Egg

Remember that gym subscription that you really wanted and never used? Or that arts and crafts class that your child despises? Let’s face it, they’re a waste of money.

It’s very important to know the difference between something that adds value to your life and something that is just siphoning your money away for no good reason.

Sorting out the bad from the good, and closing accounts or ending subscriptions that you don’t lose can save you plenty of money in the long run.

3. Budgeting 101

Budgets? They’re boring but necessary. Keeping your monthly spending in check can be tough but its a great way to keep an eye on what you’re spending, as well as what you can cut down on.

You can start small with budgeting. It’s wise, to begin with, a weekly budget, and once you get a hold of it, monthly ones will be easy-peasy.

4. A Savings Account Saves the Day

Savings accounts don’t sound appealing because you only live once right? Wrong. With a child, you need to be able to prepare for a rainy day. You never know when you may have to splurge on a new uniform or an unexpected doctor’s visit.

Set aside an amount each month that you can afford to save and set up a direct deposit or standing order to transfer it into your savings. Within a few months, you’ll already have a sizeable amount you can rely on in times of crisis.

5. Paid Bills and Overdue Smiles

Have you been missing out on time with your kids because you’re too busy paying bills?

Mothers, don’t sleep on your bills. Rather pay them off immediately if you have the option as this will maintain a good credit record. It will also give you a sense of freedom and more quality time with your kids.

6. Don’t Borrow Liabilities

Loans become a necessity when you have growing expenses. As a single mother, there are responsibilities that you have to carry out and borrowing can be inevitable.

However, only borrow what you need and not what you want. If you can’t afford a new dress or a new coffee machine, don’t buy one until you can. Loans should only be for absolute necessities.

Make sure that you have read the small print and know all the terms and conditions about interest rates, deadlines and the source you are borrowing from.

7. Solo is your New Yolo

Joint ventures may have been a good idea but so is cutting ties when it no longer serves your purpose. Opting out from all joint ventures, such as joint bank accounts, with your ex should really boost your savings and leave you plenty of breathing room.

We know its hard to manage everything on your own, but it’s not impossible.

8. Low Prices Exist

As a buyer, you are obliged to pay whatever the price tag says. But you don’t have to pay the first price you see.

You can hack your growing spending in the craftiest of ways. Online platforms are amazing if you just take some time to see what’s on offer.

Using price comparison websites and doing research online can bring up all sorts of deals on the same or very similar products. See what’s out there before you commit to the first price.

9. Thrifts are Canny

Second-hand shops aren’t really for everyone – especially with the raving fascination for Gucci and Prada. However, stylish doesn’t have to mean expensive.

You would be amazed at the awesome clothes and other accessories you can find in thrift stores for you and your kids at hugely discounted prices. Once you go thrift, you never go back.

10. Meal Prep and Weekends In

Eating out is convenient and tempting, but cutting down on these little dinners out can save you loads of money. While cooking in and preparing meals can take a hefty amount of your time, it’s rewarding and you can be sure of what you and your kids are putting into your bodies.

Both your health and your purse will benefit.

11. Discounts and Coupons are Class

Discounts and coupons are a lifesaver when it comes to saving money as a single parent. Collecting them and being on the lookout for promo codes can be economical.

Keep an eye out for coupons in store, in magazines and online coupons to get discounted prices on groceries, clothing and even haircuts.

12. Honesty is the Best Policy

As an adult, it’s your job to provide for as well as discipline your kids Be vocal and firm about saying no to your kids. Explain the importance of savings to your child. The best way to save some cash is through communication and teamwork.

Final Reflection

Getting your finances in check as a single mother can be really tough at first. Whether you are a newly single mom or have been for a while, budgets and healthy finances are the new normal.

The most important way to start is by setting small goals, motivating yourself and not surrendering to temptation.

It will be hard but with trial and error, you definitely can and will rock the life of a money-savvy single mother with a little perseverance.

The post 12 Ways to Save Money as a Single Mom appeared first on Divorced Moms.

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