10 Easy Ways for Single Parents to Save Money

The following is a guest post. See the end of the article for author information.

In 2006, according to the US Census Bureau, there were approximately 14 million single parents in this country, and those parents are responsible for raising 21.6 million children. Eighty-three percent of single parents are mothers, and 30.3 percent of all single parents receive public assistance.

Child care subsidies and public health insurance can help with closing the gap between low income and what it takes to make ends meet. Not all low-income families receive the benefits for which they are financially eligible. Families who receive multiple work supports can lose assistance before they reach self-sufficiency. Single parents often struggle with buying basic necessities and paying bills and usually live paycheck to paycheck. Single parents often do not have any savings and are in debt. Here are 10 easy ways for single parents to save money:

1. Buy a Used Car. Buy or trade in your current car for a used car with a cheaper note. This will either eliminate your car note or save you $50 to $200 a month on your car payment.

2. Use Coupons. Buy whatever items are on sale or buy items with coupons. This can save you $50 to $300 a month. There have been instances where shoppers had a total bill of $200 and ended up paying $5 using coupons and buying items on sale.

3. Buy Generic. Buy everything generic: household items, clothing, prescriptions, toiletries, dry goods, canned goods, paper products, etc. This will save you on average $5 to $50 a month.

4. Buy Washable Clothes. Buy clothes that do not require dry cleaning. This will save you on average $50 to $150 a month.

5. Image. Do you own hair and nails and buy your makeup from a drugstore, such as CVS or Rite Aid. This will save you on average $40 to $100 a month.

6. Gas. Buy regular gas for your car unless the owner's manual suggests otherwise. Find the cheapest gas in your neighborhood to purchase. This will save you on average $.05 to $.20 per gallon.

7. Shop at Discount Stores. Buy household items in bulk, such as paper products, cleaning supplies at discount stores such as Target, Wal-Mart, Costco, etc. This will save you on average $5 to $50 a month.

8. Reduce expenses. Reduce or cancel your cable plan, cell phone or Internet service, or get the cheapest plan available. This can save you $20 to $100 a month.

9. Buy groceries at superstores. Buy your groceries at superstores or wholesale stores such as Wal-Mart, Costco, Sam's Club, etc. Buy nuts, grains, spices, legumes at wholesale or health food stores. This will save you $30 to $200 a month on processing costs charged at regular grocery stores.

10. Fun with Kids. Check your local library or newspaper to find free activities that you can do to with your kids. This can save anywhere from $5-$100 a month.

For more ways to save money visit www.stretcher.com or www.budgetdial.com

Harrine Freeman is the CEO of H.E. Freeman Enterprises, a credit repair and personal finance services company. She is a member of the American Association of Daily Money Managers, a credit repair expert and the author of, "How to Get Out of Debt: Get an ‘A’ Credit Rating for Free Using the System I’ve Used Successfully with Thousands of Clients.” For more information visit http://www.hefreemanenterprises.com.

Comments

[Blaine Moore]

#10 can save you a lot more than $100/mo, especially if you have more than one child!

[Beef]

I know there are cases where the significant other passes away or some couples that are just simply incompatible even after trying to save the marriage, but I just don't have any sympathy for single parents who just thought about sex and not what happens or can happen if you do….

How about these simple guidelines:
1) If you are not married, don’t have sex
2) If you can barely survive on your current salary, you probably shouldn’t have a baby, which means no sex
3) If you have one child from someone and he still won’t marry you or be committed, you probably shouldn’t have another kid, which means no sex
4) If your first child was a “mistake”, you should learn from that “mistake” and not do it again, which means no sex

[Anitra]

Beef: You're trying to close the barn door after the horse has run away. This advice was framed specifically for single parents, most (not all) of whom are smart enough not to have another kid if they are struggling to make ends meet. The others... well, they're not likely to be reading a blog on how to save money and live responsibly, are they?

[Jake]

8. Reduce expenses. Reduce or cancel your cable plan, cell phone or Internet service, or get the cheapest plan available. This can save you $20 to $100 a month.
-----------------------------

This could clearly save you way more than $100 a month. For example:
(1) Downgrade from typical digital cable to rabbit ears: $50 to $60 a month.
(2) Reduce A/C and heating expenses by playing with thermostat a bit -- at least 10% to 20% of your electrical bill, maybe $20/month would be typical.
(3) Eat out twice a week instead of three times a week -- save $60/mo for you and your kid.
(4) Pack yourself lunches for work two days a week instead of going to McDonalds -- save $40/month

There, you already saved nearly $200 a month and you're just getting started.

[beef]

Anitra - Good comment! I was just releasing some frustration!

[Tom]

Don't forget if you're disciplined enough with your spending, credit cards can save you some money too on particular products including gas!

[Susan]

The best way is to not become a single parent in the first place. Obviously this is impossible since your spouse could have died. But if it is your choice, for instance, you divorced your spouse because of "irreconcilible differences", your misfortune is deserved.

[beef]

Susan.... I likes u

[mysticaltyger]

Instead of articles trying to help people after they've severely screwed up (no pun intended), how about some articles on the high financial toll takes on divorce and out of wedlock births?

Anitra: the real case of the "horse leaving the barn" is the 1 out of 3 kids born out of wedlock in this country. Articles on the financial impact of having children out of wedlock are rarely seen in the mainstream media. Instead, the mainstream media just assumes 1 out of 3 kids being born out of wedlock and a 40% to 50% divorce rate is "normal" and inevitable.

[Anitra]

mysticaltyger: I agree with you. Our society doesn't encourage the thinking through of the consequences before one acts.

Divorce and its effect on children is a tricky thing. From everything I've seen and experienced, I'd say that it's emotionally easier for kids if their parents divorce early, rather than dragging out a long messy process or waiting for the kids to "grow up enough" before splitting ways. But it's certainly easier to get by financially in a household with two parents than with only one.

And unfortunately, divorced parents is a fact of life for over half of "Generation Y".

[Ryan]

I completely agree with Susan, Anitra, mystical, and beef. If you don't want to be a single parent, don't have a child out of wedlock. Problem solved.

[mysticaltyger]

Anitra: I'm not against the option to divorce per se. Divorce often is the lesser of two evils for everyone....but I am saying that I believe a fair number of marriages that end in divorce could be salvaged.

[bob morano]

first thing the single parents i know should do is stop smoking will save at least 50.00/month next is don't eat out at all and last don't use alchol or pills or weed.

[Single Momma Tiger Bites Back]

Well, I'm glad I didn't come upon this vile bunch of dictators in a dark ally. I'm sure they're just a joy in person.

Here's what I have to say. I am a single parent by choice. By "choice" I mean that I didn't get divorced, I've never been married, and I didn't get knocked up. I adopted a child as a single, hetrosexual female. I'm not on social assistance. I own a home. I have a good job that allows me a lot of flexibility in my hours and working from home and it when I brought my beautiful 4 year old home it took her off the tax payers purse. You can thank me later for that. I could have had a life of travel, nice cars, and expensive shoes, but I gave it up for love and I don't regret a second of it even though sometimes I have to deal with crap from people like you when I'm trying to find a way to save a little money for things like trips to Disney.

My mother always said if you can't say something nice, don't say anyting at all. She's been married for 56 years and raised 5 kids. I suggest you take her suggestion.

[ManDan]

Amen single momma tiger well spoken