Would you like to save money, but it is difficult for you with only one income to support your family? When you have savings, even a hundred euros in an account, it gives you a safety net. In an emergency cash for single mothers, this allows you to cope immediately. The unexpected is the obsession of all those who support a family with a single income.
Raising children is expensive even with two salaries. So of course, when the household has to share a single income, it's even less obvious. You do not have a partner to help you bear the financial costs. So you no longer count the sacrifices you make for your children. But you shouldn't always sacrifice yourself.
We present some simple savings solutions that you can try and that will allow you to put some money in a savings account.
You take a cup of coffee at 1 euro 50 and you pay with a 2 euro coin? Put the remaining 50 cents in a piggy bank and don't spend it. If your next purchase of the day is 1.75 euros, pay with 2 euros and put the difference in the piggy bank. At the end of each month, you will have a small amount to put into your savings account. This can easily allow you to build up a savings of 150 euros per year, even with a single income.
Paying for a babysitter can be very expensive and many solo moms cannot afford it. If you do not have interested parents around you to set up this type of club, nothing prevents you from prospecting yourself. You could advertise in kindergarten, pediatrician or in children's play areas. See why not advertise on the Internet or in your local newspaper.
So if you have to go shopping, go to a date, or just need a little time for a nap or to see friends; you will have someone you can contact.
Let's just imagine that you use a babysitter 4 times a month for 2 hours each time. Let's say that the hourly rate of this baby sitter is 8 euros. At the end of the month, it will be 64 euros spent. If you have more than one child, you are likely to spend even more. This therefore represents 768 euros in the year which could be put into your savings account.
Even on promotion and with a discount coupon, buying brands can still be more expensive than the same private label item. So, before using your coupon, compare the price between the branded product and the distributor product. By purchasing the store brand, you can easily save tens of dollars each month.
Your children can have friends even if they don't have expensive smartphones or game consoles. One computer can be used by the whole family. Your friends may have cupboards full of designer clothes. But that shouldn't make you generate debt with credit cards to get the latest trend too. If you really want something that isn't a necessity, try buying a slightly older version. And put the difference in your savings account.
Having leisure and sharing it with your children is very important. And it is now perfectly recognized. But this quality time spent with children shouldn't cost you an arm and a leg. Remember that you only have one income. Subscribe to Netflix and the library, ride a bike or rollerblade ... Find free versions of what you enjoy doing with your kids. Use your imagination and get creative. When you realize how much money you can save, you will be amazed! And that will allow you to save.
To go further, read our budget / finance articles as well as our article on .emergency cash for single mothers
