Single Mother - My Choice


5 Ways to Save Money as a One Income Family

Money can make or break a person. Raising a family on your own is without a doubt one of the hardest tasks out there. Only having one income can really challenge a family because they are forced to think outside of the box when it comes to saving money.

Most people cut their spending by not eating out or cancelling the cable, but you already cut those ties long time ago. What are some ways you can save money as a one income family or just as a single mother? It's important to realize that saving money means that you do not spend it on unnecessary things. So, if you are out there "saving money" but spending it on items that you do not need, then you are not saving money, you are just spending unnecessarily.

1. Stop Using Credit Cards All Together

Stop Using Credit Cards All TogetherCredit cards can be a lifesaver, but they can also be a life drainer. A lot of families spend a good portion of their income on their credit card payments each month. It's like an ugly cycle that keeps repeating itself over and over again. Until you just get rid of the credit cards altogether, you will always be faced with the temptation to use them. In some instances, it's wise to have a credit card for emergencies, but only if you can handle the temptation of just keeping it to your wallet. When you look to cancel your credit cards, look at it as more of a financial investment for your future. You will no longer be bound to the credit cards and will invariably have more money upfront.

2. Know the Value of a Dollar

Know the Value of a DollarAs you have noticed, this is not your typical tip on how to save money. Most people know how they can save money through their budgets, but it's also about preventing unnecessary spending. In today's economy, tables have turned. The value of a dollar is more important than you might realize. When you are considering buying or paying for something, you must consider its true value. Sometimes the lowest price does not always equal the best product. The same goes the other way as well, just because something is expensive that does not mean it's worth it. That's why it is wise to investigate what you are putting your dollar into, so you know exactly what you are going to get out of it.

3. Do Things on Your own

Do Things on Your ownA great way to save money as a one income family is to actually start doing things on your own. Do you pay someone to walk your dog or to paint your shutters? Well, now might be a great time to start doing things on your own. A lot of people get into debt because they try to get all of these expensive repairs and modifications done and end up paying others for it.

4. Be Content With Your Life

Be Content With Your LifeJust because there is money in the bank, it does not mean you have to spend it. Today the mindset has become such that if you have money in the bank, then maybe try and use it somewhere. Unless you plan on paying off debt with it, then you really do not need to go blow it. Single mothers need to learn a good balance between what their children need and what their children want. Having the best tennis shoes out there does not determine anyone's self worth. One big secret to saving money is just being okay with your life. You do not always need the biggest house or the most luxurious car. If it gets the job done, then it should be good enough for you.

5. Develop Good Habits with Your Money

Checklist for buying habitsOne secret to saving the most money is to learn how to spend it in the first place. Money is usually hard earned, so why go spend it on something unnecessary. Create a checklist for your buying habits, to make sure it's something you really need. For example:

  • Do you need it?
  • Is it worth the money?
  • Do I have the cash to pay for it?

As a single mother, your kids will appreciate the value system you placed in them as young ones. Stick with your gut and spend money wisely and soon enough your children will also benefit from your wisdom.


There is always pressure to spend money that you just do not have. The key is to start your good money spending habits now, so that you do not have to deal with the repercussions later. When it comes to money, the repercussions can be immensely troubling.

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