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For most single parents, you get faced with many responsibilities that need proper financial management. Also, there is just so much to do from work obligations, taking kids to school, making dinner, grocery shopping, and doing laundry. 

As if this isn’t enough, you might be going through a financial burden. Important financial decisions are so far the most critical role at that point. After all, failure to have proper money management can cost you all the fun stuff like visiting an amusement park with your kids. So, here are the critical financial decisions you should make as a single mom.

Understand Your Financial Situation

Know your finances and take control of them. Understand the amount coming in and how to spend it. Remember you should spend within your means and avoid spending more than you can’t afford. Knowing how much you have and how to use it makes you the driver of your financial decisions and not letting circumstances dictate on your behalf.

You’re able to allocate the right amount on groceries, fees, and other expenses. And you know where and when to say no. If you could get life insurance, it could help in dire situations. In case of a situation like a car accident, all you will need is a public adjuster to ensure you get the most out of your claim.

Pay Your Debts Off

If you have a huge loan that is overwhelming you, start paying it in small amounts. Ensure you owe no one money to be stress-free and concentrate on your work. Look for a debt elimination strategy that doesn’t put a strain on you. For example, you could state by listing the debts from the largest to the smallest, then start making small payments on each.

The goal is to eliminate things that could become stressful in the long run, like a debt.

Have A Way Of Increasing Your Earning

Providing for your kids and running the home can take up much of your time. It can make you unable to plan for a better future and leave you with no way of increasing your income. If you’re operating on a tight budget and it’s impossible to accomplish your financial goal, learning new ways of improving your marketable skills could help.

However, remember it might take you time before you can comfortably get to your earning potential. The aim is to get to a place where you have all the money you need for a comfortable life.

Have A Support System

Apart from moral support, it would be best if you had monetary support as well. Let your family and close friends know how they can help you navigate your financial situation as a single mom. 

For example, they could help babysit your kids since it can be expensive to hire someone to do it. This helps eliminate some of your financial burdens.


The above tips should help you in any financial decision as a single mom. Also, you should always control the finances, take responsibility for whatever you have, and protect it. Finally, if something isn’t within your financial resources, cut it off.

Better money management ensures a brighter future for your kids. And don’t forget to save for your retirement.


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Digital Product Creator at Kori at Home
Kori is a late diagnosed autistic/ADHD mom. She is currently located in Albany, NY where she is raising a neurodiverse family. Her older daughter is non-speaking autistic (and also has ADHD and Anxiety) and her youngest daughter is HSP/Gifted. A blogger, podcaster, writer, product creator, and coach; Kori shares autism family life- the highs, lows, messy, and real. Kori brings her own life experiences as an autistic woman combined with her adventures in momming to bring you the day-to-day of her life at home. Kori is on a mission to empower moms of autistic children to make informed parenting decisions with confidence and conviction.

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