Single Mothers Advice to Reducing Monthly Costs.
Being broke is a common thing to most people. This is usually due to not managing expenses well. Management of expenses is hard and even harder for a single parent.
In order to monitor spending it is advisable to calculate a person hourly paycheck. The calculations are done by comparing daily or hourly income with the expenses. It’s common for people to want to spend more than they earn. In order to avoid being broke it’s important to cut down expense. The following keys are essential to reduction of expenditure.
Writing down and numbering the things you use money on. Most people simply do not know where their money goes. Imagine having a kid and you cannot keep track of your own expenses. Kids may be a cause of trouble when shopping with them. Kids usually say they need things which they actually just want. If the parent is not careful he/she will end buying unnecessary things just because the kid ask. To avoid losing track of your expenditure. Write down each expense and assign a number depending on most essential to least essential. Also its advisable if your kid is grown old even to understand basic things write a shopping list with them. Parents should be strict that the kid knows that the shopping is only for the listed items.
Avoid going shopping when hungry. If you have a kid before leaving home feed them.
Ensure you benefit from complimentary products A single moms should all ears when it comes to charge less goods and service as they can merit from them. You do not have to buy every comic book the kid ask find free comic books in newspapers. A single parent should also seek other complimentary products such as discounts and loyalty points. Initially the result will be minimal but with time the result rises.
Ensure efficient usage of resources. Many people do not make the best use of the available resources. Kids are even more terrible when it comes to resources management. Both parties are guilty of switching on the house lighting during the day and causing water wastages. Causing the amount charged for water or electricity to go up. By avoiding misuse of resources you can cut down on the bills expenses. Make it a habit for both you and your kid to always close water taps and switch off house lighting bulbs and other electrical appliances when not in use.
Raising children is rewarding but it require patience and effort. The challenge is even harder for single parents. Ensuring that your kid has the basic need such as food, education, shelter and clothing is the first priority of any parent. By managing your expenses well you will even be able to cater for your kid crazy wants.
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