How To Survive Financially As A Single Mom
It takes a certain undefinable strength to be a single mom. They must do it all, balancing a full-time job – or a few of them – with being a full-time parent. Cooking, cleaning, helping with schoolwork, and housework — it’s all part of a single mom’s daily life. Unfortunately, many single moms struggle financially as well. The good news is there are many approaches to getting some significant single mom financial help. Here are some of the best ways you can get the financial help you need as a single mom right now.
Use This Guide To Get Single Mom Financial Help
Try To Refocus On Possible Solutions
Being a single mom can be overwhelming, and it’s easy to get stuck in the financial mindset that you will always be struggling just to get by. But by trying to change your mindset and buckling down, you can find the single mom financial help you need. You may not be in charge of what you’re making at this moment, but you need to stay calm and stay focused.
Part of achieving that is being honest with yourself. Think about past financial mistakes, learn from them, and see how you can make changes to prevent them in the future. Once you start changing your mindset, you can take your focus off the way the problem is making you feel, and more on how you can fix your financial problems and what help there is for you.
Make A Budget
Another way to find single mom financial help is to make a budget. If you don’t have a working budget, create it. If you have a budget, reevaluate it to make sure it still works for your finances. You won’t get a clear picture of your financial present and decide what kind of help you need without having a budget for your finances.
The good thing is making a budget isn’t difficult. Just write out all of your income sources and then write out all of your expenses for any given month. It may help to divide your expenses into needs – such as child care, mortgage, and food – and wants – such as entertainment and eating out. Add each up and see where you stand.
It’s also good to set some financial goals that are both big and small. Go down your list of “wants” and trim some things that are absolutely not necessary. Also add in a savings plan. Write out the goals you want to achieve in five, 10, or 15 years, such as paying off student debt, going on vacations, or buying a new home. Your budget will guide the way.
Look Into Assistance
Numerous federal and state programs are geared toward getting you single mom financial help. The WIC Program — Special Supplemental Nutrition Program for Women, Infants, and Children — covers the nutritional needs of single moms and their children by making healthy foods and healthcare more affordable.
WIC is just one of many options. The Temporary Assistance for Needy Families (TANF) program assists with the costs of child care and helps parents find employment. The Low Income Home Energy Assistance Program (LIHEAP) helps with home heating and cooling costs each month and may also cover small repairs to HVAC systems.
Manage Your Debt
Single moms may rely on credit cards or other financial support, but that means an increased amount of debt. Single mom financial help often comes from creating a manageable debt paydown plan so your debt doesn’t get too overwhelming and really derail your finances.
This could mean consolidating debt to avoid multiple interest rates or starting to pay off with the smallest debt amounts first – the snowball method – or starting with the highest debt totals with the highest interest rates – the avalanche method – and going from there with eliminating debt.
Land A Side Gig
If you have just a bit of extra time, an extra source of income may be easier to achieve than you may think. Babysitting or pet sitting pays very well, as does freelancing at home with writing, graphic design, executive assistant, or teaching gigs. The key is finding something that fits into your schedule and something that you can be passionate about.
Look Into A Car Title Loan
Even with assistance from federal programs or cutting back expenses, you may need more financial help. That’s where a car title loan comes in. Designed to help cover financial emergencies, a title loan may offer the single mom financial help that’s needed. By using your vehicle’s title as collateral at Carolina Title Loans, Inc., you may qualify for a loan of up to $15,000.
Head to our homepage and fill out the short title loan form. One of our loan representatives will then give you a call, answer your questions, go over the required items, and guide you through the rest of the easy car title loan process. They will also set up an appointment for you to meet with us either at the nearest Carolina title loan location or somewhere else to continue the process.
Survive Your Financial Hardships As A Single Mom
Hopefully, this guide has shown you that it is possible to survive your financial hardships and get the single mom financial help you need. So the next time you are struggling, you don’t have to do it alone! And if you want to get a car title loan to help you out, fill out the online form to get started on our simple process right now.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.