How Do You Financially Make It Work As A Single Parent?
Being a single parent can come with extra financial responsibilities. It can make living a bit challenging yet also worth exploring a new beginning. So how to you meet your financial means to adapt to your new lifestyle?
Calculate Your Monthly Income + Child Support
Make An Itemized List of All Monthly Expenses
Based on Itemized List, separate into two categories: negotiables and non-negotiables
Does your Monthly Income cover the non-negotiable expenses?
If you can’t eliminate any of the non-negotiables, then how can you generate another source of income to make ends meet? Do you have a talent or creative ability to sell something online or offer professional services?
If one of the non-negotiables is childcare, is there another single parent who can help out in exchange for your expert services or can you split childcare fees by hiring a shared sitter? Or take turns watching each other’s kids for date night?
Are there any negotiables expenses that you can live without? Like salon services, cable television, ordering in food etc.
What negotiable would you like to keep each month as part of self-care? And, how will you be able to generate the income to cover your personal expenses that are pertinent to your overall health? A healthy parent = healthy children
Overwhelmed by the math? DM us to set up a consult today!
We help single parents to get back on track after a divorce to meet their financial means and allocate funds for leisurely spending to enjoy their new lifestyle.