Strategies to Save Money as a Single Mum in 2020

**Collaborative post**

Single parents have a lot of unique challenges to face. You’re raising a new life on your own, and that’s not a small feat. Not only do you need to think about the example you’re setting each day, but you also need to plan carefully for the future, while making the most of the present. It’s no wonder that single mothers feel as though they’re stretched pretty thin. 

The good news is that if you are a single parent, there are steps that you can take to improve your money management in the year ahead. We’ve put together some top strategies that mums can use to make ends meet in 2020 to help you get started. 

Decide What Really Matters

Creating an effective spending strategy isn’t just about cutting your costs whenever possible. While it’s a good idea to get rid of extra expenses when you can, you also need to ensure that you’re spending cash on the things that matter – like insurance for your house, or life insurance to protect your kids as they’re growing up. 

Sometimes, figuring out what really matters will also highlight areas in your life where you need to be willing to spend more. For instance, if your home matters to you, then taking out a short term loan to fix the boiler before it breaks could make a lot of sense. Get your priorities straight before you start pinching pennies. If you ever get stuck with a broken down boiler, it would be vital for you to compare boiler quotes to make sure that you don’t go overboard and spend on unnecessary expenses.

Eat at Home

You don’t have to be a great chef to spend less money on food. Unfortunately, a lot of single mothers find that there’s just not enough time in the day to look after their kids, have a career, and cook nutritious meals at the same time. The good news is that there are a handful of great videos and articles online that can help you to figure out fun, and fast recipes to share with your kids. 

Once you find a few meals that turn into family favourite you can even make some of those foods in advance when you have a little spare time and put them in the freezer for later. The more easy meal options you have available, the more money you’ll save.

Explain things to your Kids

It’s hard to explain to very young children why you can’t afford to buy them everything that they want straight after payday. However, as your kids get a little older, they’ll also begin to learn about things like money and bills. With that in mind, don’t hide your finances from your kids. Explain why you need to spend certain amounts of cash on specific things – and what that means to them. 

The more you treat your children like adults, the more they’ll reward you by not throwing tantrums whenever they can’t have that extra bar of chocolate from the supermarket. Your kids may even be able to help you come up with new ideas on how to save. 

Become a Member

You need to be careful with membership cards these days, as some of them allow you to pay for products on credit and build up debt over time. However, there are also membership programmes available that only require you to enter your information and your email address so that you can gain rewards like money off and discounts on a regular basis. 

If you regularly shop with a specific company, consider checking out their website or looking online to see whether you can get a discount by joining their VIP club. You might need to deal with the occasional spam email, but it might be worth it if you save money overall. 

Let Go of One Luxury each Month

Finally, if you decide that managing your money means that you need to spend less on the little luxuries in your life, then it might be a good idea to get rid of one luxury at a time, rather than trying to give up on everything at once. Don’t just tell yourself that you can’t afford cinema nights with the kids anymore or your weekly pizza all at once.

Consider giving up one thing at a time, so you feel like you’re not missing out on too much. You could also find cheaper alternatives to replace your luxuries with. For instance, maybe you can all learn how to make your own pizza instead of ordering one to your home? You’ll save a lot this way, and have a healthier meal too.