When it feels like you are scraping the bottom of the money barrel every month, how can you possibly save anything? For a single mother, every penny counts. But it is also important to save money for a rainy day or those emergencies that always seem to pop up right when you don’t have the money to handle them. Here are a few more money-saving tips for single moms that might help you get on the right track:
Have a reason to spend. Ask yourself if you really need what you’re craving. You do? Then find a way to get it cheaper. If you do need a new sweater or coat, wait until you find one on clearance, or go to a thrift store. How much would you have paid on the impulse buy that particular day? Subtract how much you really spent from that and put the extra money in the bank.
Plan every purchase. Do you need to go grocery shopping? Plan ahead by looking at the week’s circulars and coupons. Buy only what you need, and don’t purchase anything on impulse. What is on your list is what you buy — period. Plan everything from the smallest purchase to the largest one, and sock away the money you save.
Never pay full price — ever. You can find great clothes at the thrift shop or the consignment store for a fraction of the price. Want designer duds? Shop at the designer outlet during their good sales right before the holidays. When you go out to dinner, make sure you have a coupon for the restaurant. Even if it’s a free soda, you’ve just saved about two dollars…and that adds up over time.
Make it last. When money is tight, it’s hard to replace things that are worn. You have no choice but to make it last. Give that outfit new life by changing the buttons and dressing it up. Don’t toss that ratty quilt — just give it a new top, made out of old linens and t-shirts you no longer wear. It’s what our ancestors did when there was little to go around and everything was made by hand. They made it last, and so can you.
Grab for freebies. If someone offers you something for free, accept it! A neighbor of mine had old t-shirts to give away, but they weren’t in my size. I took them anyway, and turned them into dust rags. Thanks to her, I haven’t purchased a dust rag or dish towel in over five years.
Every one of these tricks frees up a bit more money that can be put into the bank. The more careful you are, the more money you will accumulate. Use it only for emergencies, and enjoy the peace of mind!
