Single Mothers Advice to Reducing Monthly Costs.
Being broke is a common thing to most people. Resulting from careless buying of stuff. 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. To most people expenses exceed income. To prevent yourself from being tapped out it is crucial to reduce your expenditure. Some of the guidelines to help cut down expenses are.
Listing and ranking of expenses. Most people simply do not know where their money goes. Single parents have a hard time auditing their expenditures. Going shopping with a child can turn out to be disastrous. Most kid do not understand the difference between a want and a need. Kids takes advantage of the parent lack of attention to make them make impulse buying. To ensure you monitor your expenses. Write down each expense and assign a number depending on most essential to least essential. Parent are counseled to teach children to budget. Avoid buying items that are not on the list.
Do not go shopping on an empty stomach. If you have a kid before leaving home feed them.
Ensure you benefit from complimentary products As a single parent find out free things being offered and take advantage. Newspapers and magazines may offer comic books your child for free. A single parent should also seek other complimentary products such as discounts and loyalty points. This may seem insignificant at first but in the long run the impact is high.
Avoid wastages. Many people do not make the best use of the available resources. Children waste the large part of resources in comparison to adults. Both adults and kids will leave the light on during the day or leave tap water running. Causing the amount charged for water or electricity to go up. By efficient utilization of resources we can reduce the cost of utilities. Train yourself and your child to ensure that utilities are turn off when not in use.
Raising children is rewarding but it require patience and effort. This especially so if you are doing it all by yourself. All parents’ main responsibility is to give their children the basic needs which includes food, education, shelter and clothing. By managing your expenses well you will even be able to cater for your kid crazy wants.