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The single mom: keeping up your child’s standard of living

  • Posted on January 28, 2012 at 6:57 am

The single mom with children faces one of the most agonizing dilemmas that any of us can face. She often has to ask herself whether she should find a job outside the house and entrust the children to daycare or to a sitter. Alternatively, she asks herself whether she can find a business or profession where she can operate out of the house and be with the children all the time. The problem is, no parent feels comfortable leaving children in the care of a stranger all day and neither daycare nor a competent sitter is an adequate substitute for a parent. Most single mothers live on a low income, and because of their various preoccupations in the house and at work, they are often too frazzled to pay any attention to their personal finances. This is unfortunate because competent management of personal finances is one way in which they can ensure that their kids do not lack for anything. The other major factor that has now come into consideration is that the Internet has thrown up endless business and income opportunities, both part-time and full-time. These can go a long way in helping you to reach your goal of working out of the house while being with the kids. What a single mother should be doing is controlling her money by the use of systematic budgets. The idea is to relieve financial stress so that she knows exactly how much money is coming in and where it is being spent. This will enable her to identify wasteful expenditure and also figure out where she can improve the standards of living for her kids. For instance, she could stop impulse buying of branded soft drinks and make sure that the refrigerator at home is well stocked with discount generic bulk packs of soda. She has already saved money, and no expense, however small, should be spared this scrutiny. She can now begin to think of a Mediterranean cruise with the kids.