Birthday parties! Kids get so excited about a party just for them, they start planning and begging and dreaming long before the birthday month gets there. By the time their big day is almost over, they are already talking about the next birthday party and what cool things it might entail. It’s impossible not to be swept up into the magic of it all.

But getting caught up in that magic is exactly what leads parents to spend an enormous amount of money on all the birthday party trimmings for their children. Avoid that temptation, especially if you are a single mom on a tight budget. Instead of inflatable castles and pony rides, pony up something that your child will remember forever – a special day filled with so many good things that don’t cost a single dime.

• Free day at the pool. If your child’s birthday falls in the summertime, look for free days at the local pool. Take your child and several other children there to play. Pack sack lunches for everyone, and include a cupcake for the birthday baby.
• Scavenger hunt in the park! Ask the children to play scavenger and find a list of natural items, such as certain rocks, feathers, leaves, and the like. Whoever wins the hunt gets a homemade prize!
• Bonfire on the beach. Go digging for crabs, and then have a bonfire on the beach with your kid and their friends. Be sure to bring the things you need to have an old-fashioned crab boil! Then sit back and look at the vivid stars.
• Kitchen party. Ask your guests to bring one ingredient for the cake you will create, and then help the children put it all together. The good conversation and laughter will be memorable, and the cake will be made with plenty of love from everyone who came to the party.
• A community service party. If your kids are a bit older and understand the thrill of giving to others, celebrate by getting a group of their friends together and helping out at the shelter or neighborhood community center. Make it something the kids will always remember, and when you get home, bake their favorite dinner and of course, dessert with a candle.
• Movie night. Get friends together with their sleeping bags and homemade popcorn. Check out free movies from the library, set up the “campout” in front of the television, and make it a marathon.
• Ghost stories campfire. If you have the equipment to wander the woods, go camping! Take a few friends, be sure to pack the candles and lantern, and tell ghost stories around the campfire while you cook dinner over the flames. Talk about a birthday adventure your kids will never forget!

When tax time rolls around, many people are worried about whether they will have to pay even more of their hard-earned money. Single moms who need a financial boost shouldn’t have to worry about that, because if they fall in a lower income bracket, there are many things they can take advantage of that will not only give them a tax return, but will increase the amount of money they get back. Before you file taxes, keep in mind these tax breaks:

File as the Head of Household. If you were single on the last day of the year, if your children lived with you for the majority of the year, and if you contributed 50% or more to the household expenses and children’s needs, then you qualify as head of household. This allows you to take a higher standard deduction, and also means you pay slightly less in taxes than someone who is not the head of household.

Each qualifying child is an exemption, but keep in mind that only one parent can claim a child. Therefore, if you have joint custody, one would claim the child during the first year, then the other during the second year. In 2009 the basic exemption was 3500, which means the first 3500 dollars of your income would not be taxed. The more dependents you have, the more money you can potentially get back in a refund.

Each child under the age of 18 allows you to earn a child tax credit of 1,000 dollars, which is taken away from the amount of taxes you owe. The child tax credit is now standard on most tax-reporting forms, and the only thing you need to claim it is to declare your dependents.

The earned income tax credit was designed to give working families a break at tax time by giving a refund on a sliding scale, based on how much money a person makes. If you made too much money, you won’t qualify — but even if you made too little to owe taxes, you might still qualify for the earned income credit. The only way to know for sure is to check the IRS website or talk to a tax professional.

The child care credit is for those who have paid someone else to watch their children while they worked throughout the year. It applies to children who are under the age of 13, and you must have made some income during the year to qualify for it.

If you think you might qualify for any of these — and virtually all single moms do — then talk to your tax professional about what your next steps should be.

By now you have plenty of tips on how to save money, and you might have already started counting those pennies and stockpiling that extra cash. But if you still need a little push in the right savings direction, these additional tips will help. Remember: Start out with one or two of them, get comfortable with the way it feels, and then strive to do more. Saving money can be a major lifestyle change, and as with any big change, it takes time to grow accustomed to it.

• Get inspired! Wander around the web and find instances of families cutting corners, saving pennies, and making a savings out of what seems to be nothing. Look for sites that offer cheap recipes, homemade solutions, and inspirational tidbits to start counting your dimes!
• Team up with friends. Don’t hit that bistro for lunch and then worry about the prices. Pack sack lunches and go on a bike ride instead. Plan on a leisurely walk around the neighborhood, and don’t bring along the checkbook — there’s too much temptation afoot! When museums or zoos have freebie days, get together with your kids and take them. Have a blast for free and save the money you would have spent.
• Use direct deposit. Out of sight, out of mind. Have a small amount of cash taken out of your paycheck and sent to your savings account before the money ever touches your hand. That way, you know you will be saving money, and you will work with what you have.
• Rid your home of temptation. Magazines, shopping on the television or the internet, and other money-grabbers have to go. Throw the magazines in the trash, block the television channels that try to sell you something, and avoid sites on the internet that suck your time and money.
• Got a raise? An extra check here or there? Save it. The smallest amounts really do add up over time. That five dollar rebate check or that tiny refund you weren’t expecting will look nice in your savings account.
• Actually get that savings account. Many people will decide that getting a savings account is a hassle, or they worry about bad credit, and so avoid the savings account altogether. But this makes it very easy to spend the money you do save. If you absolutely cannot open up a savings account, spring for a safe deposit box or some other option that will keep the money safe, but out of your immediate reach. This will alleviate those tempting “gotta have it now” moments of impulsive purchasing.

Many single moms fall victim to investment scams every year. They are targeted because they really do often need the money, and they hope to provide a better life for their children. Investment scams prey on the hopes and dreams of those who have been handed a tough hand in life, and single moms seem to be a prime target for those who just want to take the money and run.

Here are a few tips to help you avoid investment scams:

Demand proven results. Start-up ventures, investing in something such as cattle or crops, or investment firms that don’t pony up information when you ask for it should all be avoided. If they can’t give you firm numbers and people outside their own little circle to contact, don’t give them a dime.

Too good to be true? Even if the investment banker does give you a list of names to contact, and even if those contacts say it’s the greatest thing ever, stay alert for those moments that just don’t add up. If it seems too good to be true, it probably is — and it’s probably been quite effective in luring people in, unfortuantely. That’s what happened to many celebrities when Bernie Madoff wound up losing all of their money while running a Ponzi scheme.

Keep it in confidence? No way. If any investment requires that you keep the plan in the utmost confidence, or requests confidentiality in any form or fashion, run far and fast. If you’ve ever noticed the spam emails that offer a great deal of money but ask you to keep it hush-hush, you know how this works. The fewer people you tell, the more people they can hit with the scam. Besides that, the aura of secrecy is alluring to some who want to believe they have hit the big jackpot, and don’t want to let anyone else in on the plan.

Never give out your account numbers. No investment company will ask for your pin numbers, so never give them out. If anyone asks for that, simply hang up the phone or close out the email. Reputable investment corporations will invite you into their office and handle everything in an above-board manner.

Do your research. A young, start-up company can be here today, gone tomorrow. Check into the company you are thinking about investing with. Do they have a track record that spans several decades? Have they weathered ups and downs in the investment business? You’ve found yourself a winner. But if the paint is still wet on their shingle, wait and see what others do before you throw your hard-earned money into it.

How did they contact you? Here’s the biggest red flag of all. Did they contact you out of the blue for this opportunity? Reputable investment corporations will let you come to them, not the other way around. If your name was purchased from a list or somehow found at random, it’s not coming from a legitimate business, so steer clear!

When money is very tight, sometimes even the simplest things are hard to come by — and then what do you do? Creative repurposing of household items is a great way to extend the life of the things you own, keep the materials from filling up your landfills, and best of all, you save money by not buying something new.

With a little creative thinking, just about anything in the home can be repurposed. Here are a few things that have worked for me — see if they might work for you, too.

• Hang on to those bread bags! The bags are well-sealed to protect the bread, and once you remove the bread, why throw away a good bag? Use it for small, soft items, just as you would use a ziploc sandwich bag. When I make a loaf of bread and have some left over, I cut it into slices and store them in the bread bag. Why not? That’s what it was for in the first place!
• Don’t throw away any containers. When you use up that cottage cheese, sour cream, or something else that comes in a container with a tight-sealing lid, wash it well and save it. The same goes for glass jars with screw-on lids. You can use them for storing leftovers or to hold the odds-and-ends of crafting. If you have some old labels lying around, you can use them to denote the new use, or you can simply write on most containers with a black marker.
• Do you have socks that have permanently lost their mates? Don’t throw them out! Use them as dust rags — just slip one over your hand, spray it lightly with water, and go to town on those dusty surfaces! You can also use them as bathtub soakers — fill them with oatmeal and a variety of spices or herbs that are good for your skin, tie them at the top, and drop them into the bathwater for a fragrant treat.
• Use the plastic cases from new bedding, sheets, pillowcases, and the like to use as clothing storage. My daughter received a large comforter for her birthday, and it came in a huge plastic zippered bag. The bag now holds her summer clothes, and slides neatly underneath her bed. When warm weather hits, her storage is right there at her fingertips.
• Save your old laundry containers and fill them with homemade laundry soap. You could also use the pails that kitty litter comes in to hold other household items. I took one of those pails, painted over it with a few coats of deep blue exterior paint, and now it serves nicely as an attractive mop bucket.

What can you repurpose around the home? Get creative with things you might not have considered as reusable, like those toilet paper rolls that can double as seedling starters, or the old t-shirt that would make a great cleaning rag. The options will save money in the long run!

Single moms often have to deal with financial hardships. Sometimes you might see that gorgeous dress or that perfect item you know your kids need, but you simply can’t afford the price on the tag. That’s when you make a decision: Do you walk away from it? Or do you learn to haggle the price?

Not everyone feels comfortable with haggling the price. But everything is for sale, as the old saying goes, and everything does have its price — but does it have to be that high? You might be surprised at what you can haggle down. It’s expected at yard sales and flea markets, and you might be good at doing it there, so why not expand your creativity to include things you might not expect?

Here are a few tips to help single moms get started:

Shop around. Don’t jump at the first thing you see, no matter how badly you want it right then. Go home and look online. See if you can find anything similar to the item on eBay or other online stores. Look for discounts and coupons. You might find something much cheaper than you expected.

If you do find something similar but it costs about the same, then you have room to haggle. Go back to the first place and tell them where you found it – can they offer a discount to earn your business? You might be surprised at how well that works, especially with clothing stores in competition with each other.

Stay true to your word. If you offered them your business for a discount and then you get it, go back and patronize that store as often as you can. The more they see you, the more they will realize your loyalty, and the better your chances of haggling something down in the future.

Comparison shop. If you need to have something done to your home, for instance, talk to the professionals and get quotes. The more quotes you get, the more likely you can haggle the price down. Call your first choice and tell them how much lower their competition bid — can they match the price?

Pay cash. Always pay cash when you haggle the price down, and be prepared to pay it right then. When a seller sees cash in your hand, they are much more likely to bring the price down, because they know you are serious — and they will get their money right away instead of waiting for your bank or credit card company to come through.

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!

How many times have you heard about the need for an emergency fund? It’s been mentioned several times on this blog, and you’ve probably heard a snippet of the same advice from every financial guru you have ever seen on television. It’s a fact that a savings account is a necessity for a rainy day — but how can you start one if you are living paycheck-to-paycheck?

When there is not enough money to go around, having a savings account is even more important. When you find yourself in a financial bind, sometimes you just can’t wait until that next paycheck — and then you find yourself dealing with a loan shark that charges impossible interest, or relying on the kindness of family and friends.

So start saving now, even if you think you can’t. Here are a few ways to put pennies into the bank until it adds up to a nice nest egg:

Compare before you decide. Are your kids dying to see that new movie? Compromise with a movie rental, and make your own popcorn at home. The cost of going to see a movie in a theater can run 40 or 50 dollars. The cost of a rental can be as little at 1.99, and the popcorn cost is about the same. You can save 30 bucks just by comparing your prices and making the wise choice. Then take that 30 dollars and put it in the bank!

Make your own. Do you normally go out to eat once a week? Put that money in a savings account instead and make a special meal at home. You can also purchase items at the store in bulk, and save more money in the long run. Choose to cook your meals at home from scratch and avoid convenience foods in order to save even more cash.

Ask for monetary gifts. When your birthday or Christmas rolls around, ask your friends and family to deposit money into your savings account instead of giving you a gift. Even if it’s five dollars, it eventually adds up, and they will be contributing to your peace of mind. As any single mom knows, that is a gift well spent!

Barter instead of buy. Join groups like Freecycle.org to give away or barter the things you no longer need. You can find furniture, books, kitchen necessities, and more if you take the time to look, and the money saved can go into the bank.

Count your change. Fifty cents here and there might not seem like much, but it does add up. Put your spare change into a jar and hide it away in the closet. When the jar is full, take it to the bank and let them count it for you. Then put the money into your account, and start keeping the jar all over again. You can accumulate a surprising amount of money this way.

Don’t give up! If it seems like you can’t put any money into the savings account, try to think of creative ways to make it work. You will soon have that emergency fund you need, and you will rest much easier at night, knowing that if something happens and you need the money, it’s right there waiting for you.

Sometimes the cost of heating and cooling your home can be what breaks your monthly budget. For a single mom, even the slightest “surprise” in the utility bill can mean the difference between paying it on time or having to juggle.

Don’t let utility costs compromise your chances of saving money or having plenty of food in the house — learn how to drive costs down with these handy tips:

• Bundle up! During the wintertime, wear layers of warm clothing. Dress your kids in a t-shirt and sweater, heavy jeans or pants, and two pair of socks. Knit caps on little heads will keep them even warmer. Fingerless gloves are “cool” and keep little hands warm while keeping plenty of mobility to play with their toys.
• Close off rooms. You probably don’t use every area in your house. Close off the rooms you don’t use by closing the doors or pinning heavy quilts over the door frames. This makes your heaters work less, and saves you money. If there are vents in the rooms you close off, make sure the vents are closed, so the warm air will circulate to the rooms where you really need it.
• Use lined curtains. Heavy curtains with liners inside will protect against the cold during the winter and will block out the heat of the sun in the summer. It’s a cheap way to keep the house comfortable!
• Use your oven in the winter, your crockpot in the summer. During the wintertime, cook hams and roasts that take a long time, and always opt for the oven. This will put more heat into the kitchen, and make for a toasty warm place for the kids to do their homework. During the summer, avoid the heat by using your crockpot to make your favorite dishes.
• Weatherstrip around windows and doors. Good, thick weatherstripping is available for a few dollars, but it will save much more than that on your heating and cooling bills.
• Use draft dodgers. Heavy “draft dodgers” filled with sand or even a rolled-up towel will work well along the bottom of doors, where air can easily creep in and out of the house. Though draft dodgers are popular during the winter, they can be used to keep cool air inside during the summertime.
• Use fans during the summer. If you can catch a cool breeze through the window, why not use a fan to pull it through? You can turn off the air conditioning and cool your entire house with a few strategically placed fans and open windows.

If you still need help lowering your utility bills, talk to your local cooperative or electric company about possible savings they might offer, or look into financial assistance programs for single mothers that might include utility help. You can make it work!

Let’s face it: Holiday gift-giving can be tough on single moms. When you’re struggling to make ends meet, giving gifts to familiy and friends might seem like an impossible proposition. But remember the saying that the best gifts are those that come from the heart? That’s absolutely true — and here are some frugal gift ideas to get you started.

A Paperback Book. A nice book can be purchased at a used bookstore for a few dollars, sometimes for just a few cents. You can even find brand-new books that have never been opened! Make a homemade bookmark out of a small wallet-sized picture of your kids, or get artsy and create something unique out of raffia and ribbon.

Coupon Books. Want to give something but all you can spare is time? Great! Give a coupon book promising certain things to the receiver. Offer to mow their lawn, cook dinner one night, or keep their kids while they go shopping. Sometimes the gift of time is the best of all.

Recipe Cards with Favorite Recipes. Pick up recipe cards at the thrift store for pennies, and write down your favorite recipes. Tie them all together with a pretty ribbon and include a batch of homemade cookies. It’s a gift that will last a lifetime, and could even lead to new recipe traditions.

Anything Homemade. One of my favorite gifts to receive — ever — was a simple pint jar of strawberry jelly. It was delicious, given from the heart, and reminded me of my friend every time I opened it. I was so sad when it was all gone! You can give homemade goods from your garden, packaged in a pretty basket you purchased for pennies at the thrift store. If you love to sew, create a scarf or cotton lining for a bread basket — again, for only pennies.

Dinner at your house and a heartfelt letter. Offer to make dinner, and then make a point of sitting down and catching up on everything you’ve missed. Before the dinner, write a heartfelt letter to your friend, and hand it to them as they walk out the door. They will cherish the time and the words.

Small gifts of fun. If you have a little bit of money to spend, use it for movie vouchers for a friend and their kids, or purchase a gift card online — you can usually get discounts for up to 50% off if you go to places like Restaurant.com. You can also find gently-used DVDs at your local movie rental store for a few dollars apiece. Offer to watch it together and maximize the gift by spending precious time with your friend!