How To Financially Support Your Children As A Single Mom: My 7 steps
Being a single mom is very difficult, especially financially. I can’t stress enough how difficult it is to hold all that responsibility because usually, it takes two people to work full time to live comfortably.
As a single mom, you are statistically more likely to live in poverty than a married couple. Single men usually make more money than single moms. But, there are certain steps that single moms can follow to help them beat this statistic.
Steps To Financially Support Your Children As A Single Mom
Being a single mom can be a new adventure for you. It doesn’t have to be full of hardships. Yes, supporting and parenting your children financially will be difficult.
But, remember you are a strong woman and you are independent and can be successful in supporting your kids alone. I mean it is possible. You just need to keep your head high and believe in yourself. Think about the positive things in
life and how you, alone, will be the reason your children will grow up healthy and happy.
If that is what you want for your children, then let’s get to it. Here is my 7 step guide on how to financially support your children as a single mom.
Step 1: Get A Job
Yes, this one is quite obvious. If you don’t have a job, find one quickly. You need some kind of income to help support you and your children. I know how hard it is to find a job, especially one that you love and are happy doing it.
So, I recommend you find a temporary job first and be actively looking for the job of your dreams.
Do not accept a job that pays below minimum wage. Believe in yourself and trust your capabilities. Think about the job before accepting it and answer the following questions.
Will it be enough to put food on my table?
Will it also pay rent?
Will my children be able to live comfortably with this income?
Is it a good start?
Is it worth my time and effort?
If you can’t find a job that pays above minimum wage, you may have to find two jobs. I know it’s hard but everything is temporary until you can get back on your feet. This in the future will teach your children hard work and responsibility. So, use this difficult time in your life as a lesson for your children.
Step 2: Set A Budget
Sit down and take out a piece of paper and a calculator. It is time to calculate how much you can and will spend. Setting a budget is very important so you would not be surprised by how much you spent throughout the month.
Add all your expenses that you must pay every month now subtract that from your income. Think about how much you want to save every month and make sure that amount of money is saved every month.
If you spend too much on a certain product, you should minimize spending on other expenses and start living frugally. Cutting expenses is quite easy. Just think about things you can live without like memberships.
Do not spend more than your budget, that is the fact you should always have on your mind. Once you become financially stable, you can get those memberships back like a gym membership or an extracurricular class for your children.
Step 3: Look For Help
You will be surprised how much help a single mom can get from the government. You can instantly get a loan from the bank if you are a single mom and have a low income.
Not just that, but there are so many programs available to support children with single moms. The government and community are responsible to keep you and your children safe.
So, put your trust in them and they will not leave you in hunger. Here are a few programs that can help you and your children. There are many more, but these are the most common programs used by families in need, especially single moms.
- SNAP Food Stamps
Programs like these will pay for some types of food for families. Specifically, they help families buy healthy food to ensure they are getting the nutrition they need. Some provide an electronic card with a certain amount of money that allows you to buy certain types of food.
There are so many charities that provide food, clothes, and other supplies for children who have single moms. Sometimes they provide boxes full of things that satisfy basic needs and provide them for families in need. The only thing you need to do is search for them. You can ask a local church or community center.
● Christmas and Holidays Assistance
There are so many programs that help single moms like providing gifts and products needed for the holidays. Every child deserves a gift under the Christmas tree, these programs ensure that.
● Diaper Free Programs
Diapers are expensive. So looking for programs like these will help you tremendously. My newborn used about 13 diapers a day at first. At that rate, you would need more than 1 huge box of diapers a month.
There are programs that provide free formula, school supplies, subsidies for child care, and cheap cars. There are even jobs specifically for single moms who need jobs. Some are even online to help with childcare. There is a lot of help out there. Your job is to look for it!
Not only are there programs, but there are many articles online to help you raise your children. It is difficult coping with all the struggles that will arise because you have children but also have a job.
You might need help putting your children to sleep or keep your children busy while you work either full time or part-time side hustle. You just need to find which articles are suitable for you.
Step 4: Be Smart
When I say be smart, I mean you need to think ahead. You have no one else to look after you or your children. You need to calculate, you need to make hard decisions and you need to take care of your children.
Every choice you make will not only affect you but also your children’s lives. So, you need to make a smart choice, the best choice. Cut expenses when you need to, switch your children’s schools when you need to, save money for the things you need to, let loose when you can and keep thinking.
Also, put your savings in a secure place. The last thing you want is to lose well-earned money. You can place it in a bank account, in a safe, or in a hidden place. I strongly encourage placing in bank accounts because it is the most guaranteed, safe place for money.
Try to have a firm financial plan. In the beginning, try to save a lot of money until you can comfortably support yourself for six months. Afterward, you can save less and be less strict with yourself.
I say this because something might come up like sickness or you may lose your job. So, you may have to pay a lot of money or need a lot of money.
But, you shouldn’t worry because you should be prepared and have enough to get you and your children through those hard times.
Step 5: Set Short Financial Goals
Becoming financially stable is hard but possible. It could be very overwhelming so break it into small pieces. Set short-term financial goals. Think about how to provide the basic needs first.
Then think about how to pay rent. Then think about debts and other expenses. This will help you determine how much money you should save every month.
Try to postpone things like traveling or vacations because things similar to those are very expensive. So, try to postpone the fun until you are financially stable. After determining your short-term financial goals, set deadlines for each.
Knowing when you will cover certain expenses will help you plan for your long-term financial goals. Knowing your future will be more stable will help you pass this difficult period of time.
Also, by planning, you may be able to also plan a fun time. This would definitely bring hope and joy into your lives. You have to work hard first and you will see how your sweat and tears pay off.
Step 6: Set Long Financial Goals
After setting short-term goals, think about long-term goals. This includes your children’s future like going to college or your future like buying your dream house. Everyone has dreams in life.
Don’t ever give up on your dreams. So, add them to the long-term goals. If you want to open up your own business, this is the list you will place it on. Once you give up on your dreams, you lose motivation, determination, and hope.
That would be the worst thing that can happen to you because you would not be able to think straight and support the children in your life.
You are strong, independent, reliable, and beautiful. You are not different from any person in the world. No one is as capable as you of supporting yourself and your children in every possible way.
Follow the steps above to financially support your children and give them the love they deserve. This formula would create a happy family and a better future for you and your children.
Don’t give up!