Single mom families are often looking for ways to cut expenses. To spend less than they did last week, last month, or even last year. To cut corners, whether they want to save for something important, or their money just does not seem to be stretching as far as it used to.
If the former is the case, then they may be hoping to take their children on a small vacation, or they may need to buy a first bed for their youngest. For something desired or needed, the single mom will scrimp and save every penny to get what she wants.
If the reason is the latter, she may feel her family is in dire straights and wont long make it without cutting back. This may be happening because food prices go up, or the electric bill seems unusually high. Or maybe she lost hours at work.
Whatever the reason, the necessity to save on what she can is real. And she’ll do what it takes to get by. What are some ways a single mom might save on expenses?
- By getting the Shop Your Way rewards card at Kmart, if the store is frequented. This can be quite lucrative. Earn points for every dollar spent. On top of that, they send emails informing members about surprise points they’re eligible for. If you get a message indicating you’re eligible for $5 in points with a $15 purchases, and you need socks for two children, they’ll take $5 off your total purchase. There may be instances where the amount in points will have to be applied to the next purchase.
- Shop dollar stores for many products to save money. Check with the stores in the area to see which ones allow the use of coupons, and save even more. A bottle of shampoo after a $.25 coupon will only be $.75. That is a good deal. Cleaning products and many school supplies are worth buying at them, as well as other items. Things to steer clear of? Non-stick pans. And some of the food items may not be the best, but take advantage of full size products that are. Comparison shop with other stores for good price information.
- Shop yard sales, then thrift shops, before going to a retail store.
- Always have a list of what your family will need over the coming year, as well what your children still need for their next size up in clothing, shoes, etc. Keep this list in your purse.
- Walk or ride bikes wherever possible, and try to utilize the city bus for transportation savings.
- Trade what you can, utilizing online and offline venues. Online, there are sites for your area to give things away, then ask for needed items.
- Sell what you no longer need. Use that money to get what you do need, perhaps at a discounted price.
- Use clearance sales to get what you’ll need next year, rather than paying full price.
- Go in on the cost of shareable items with others. If you and three of your friends want a subscription to a magazine, or a copy of a particular book, go ahead and split the cost.
- Make use of leftovers. If they seem to turn into science experiments in the refrigerator, freeze them to utilize in casseroles or crock pot meals later in the month.
- If there are name brand items you must buy, clip coupons for them. Find the company online and sign up for their mailing list. They may send coupons sometimes. And don’t forget to check the weekend paper.
- Instead of providing all the food for get-togethers other than birthdays, make them pot-luck affairs.
- Rethink family entertainment. Would it be cheaper and just as worthwhile to stream Netflix than get cable? Go on a picnic instead of eating at a restaurant, and rent movies for viewing at home rather than spending money at the theater.
These ideas should get you thinking about other ways to save. Each mom and each family is different, so their money saving tactics will also be different. This is fine. Take your own needs, and the needs of your children, into consideration when making financial decisions. Notice the term ‘needs’ was used, not ‘wants’.