Money Saving Ways For Single Moms And Dads

The most effective money saving ways is to slim down expenses. This can be carried out in many ways but the next are the ten best ways I discovered to do it:

1. Share and trade with friends, relatives and co-workers such things as children’s clothes, outgrown toys and baby requirements, etc. Bartering also is a great way of getting what you want and giving what you have. Examples of this could be: a friend can do haircuts and you can do resumes, or you will babysit and your friend is an excellent seamstress. Essentially, bartering is an exchange of products and services between various a person without money changing hands.

2. Do not be wasteful. The old saying ‘waste not, want not’ certainly applies when trying to live within a restricted income. This means using all leftovers, not taking away things just because you’re tired of them, and wearing things out. If your sofa is worn, make do with what you have. If it is really bad, buy second-hand or look in the free columns. Shop at second-hand or thrift shops and take the time to look around for the best deals in everything. Save those pennies that don’t seem to be worth anything. Added together they can make the gap between having a treat or not.

3. If you have a car, consider how to cut down the costs of operating your vehicle. Drive sensibly keeping in mind the cost of gas by planning your route and doing errands en route so other trips won’t have to be made. Invest in a small, economical car in place of one or more of the larger ones. Share your drive with other people as a way to help pay for the gas. Sometimes the price of owning a car is not feasible. If that is the situation, other transportation options like transit or bicycling maybe thought about.

4. Avoid debt. In order to help do this catalogue expenses daily to help you realize where your finances are going. In this manner you will be in a position to determine what can be done without and wasteful spending can be avoided. Another useful way is to make a listing of what is required before you buy groceries. This will control impulse buying. Avoid also using a charge card – it is the fastest way to slide into debt.

5. Take benefit of offers. Many utility services offer packaged deals which are commonly more cost-effective than buying individually. Basic package deals are likewise less expensive. This may encourage watching less television. Also, try for rebates and use coupons.

6. Don’t eat out. Taking your own lunch to work will save many dollars every week in comparison to going out for lunch on a daily basis. Restaurants and even fast food outlets are very expensive. Another savings can be to drink water instead of buying pop or coffee out. Even one cup of coffee a day will make sense over a month.

7. Smoking and drinking are other outlays that will kill even the most carefully designed budget.

8. Keep company with other frugal and thrifty-minded single moms and dads so as to stay away from being tempted to keep up or feel included. Those who are in the same financial position will have other ideas on how to reduce their expenses too. They will also increase the amount of people who will be interested in bartering and sharing.

9. Other savings within the home will be to only run your dishwasher and washer when there is a full load; invest in a low flow shower head, and purchase in bulk.

10. Do you need it or do you want it? When I was a single mother or father I discovered remembering the difference between the two saved me a lot of money. In almost all cases with a few days’ thought before a sale, most things were a want and not an absolute need.

I also discovered that it made it simpler when I involved my children in helping me with these money saving schemes. By encouraging them to share in the saving process, they learned to be thrifty too.

 

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