For many single moms the idea of saving money is laughable. We barely make enough to make ends meet much less set some aside for use later. Believe it or not there is probably a few extra dollars in your budget that you don’t know about. There are changes you can make in your lifestyle and budget that will allow you to save more money on the necessities and therefore have more money left at the end of the month to put into a savings account.
Evaluate Bill Expenses
Look around your home and consider the bills which you currently have. Probably a phone bill, cable/internet, electric, water and rent/mortgage. You probably can’t do anything about the rent/mortgage payment but all the others can be adapted to save you money. We’ve all been told since we were children not to waste water and electricity- adopt these habits and teach your children the same. This will work to keep your utility bills under control. Are you paying $50 or more per month for a home phone line? Why not get a magic jack that only cost’s about $30 per year? Or bundle your phone, cable and internet into one reasonable monthly bill? These companies offer deals all the time because they want your business. Take advantage, and lower your monthly bill expenses.
Shop Smart
Groceries are one of those things that we must have. But there are ways to save money at the grocery store as well. First off, purchase store brands. They are just as good as the name brands but cost less. Take advantage of savings clubs and coupons, you might be surprised at how much you can save. Purchase larger packages of meat and other items so that you can split them into several meals. A family pack of pork chops may cost more by the sticker price than a pack of 3, but with 6 pork chops you can feed your family more than one meal. Larger packs usually break down to less per pound than small packs. Also, just because your children may love a specific kind of snack or lunch meal doesn’t mean you have to buy it all the time. Try to reserve high dollar treats as treats!
Many people tout the benefits of minimizing, and while at first it may seem that you are depriving yourself or being ridiculous by cutting out the movie channels on your cable program stop and consider just how often you watch every single one of those channels- there isn’t enough time in a day to watch them all. You can learn to live without them and save money along the way.
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