Guidelines for Planning Expenses for Single Parents.
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.
To be able to manage expense well a person need to calculate their hourly paycheck. The calculations are done by comparing daily or hourly income with the expenses. To most people expenses exceed income. By removing unnecessary spending a person stop losing money. Some of the guidelines to help cut down expenses are.
Writing down and numbering the things you use money on. Majority of the people do not track their expense. Imagine having a kid and you cannot keep track of your own expenses. Shopping with your child can lead to problems. To a kid needs and wants are the same thing. 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. Develop a list all your expenses group them in order of the most important such as food to least important. Parent are counseled to teach children to budget. Make sure they understand that only the items on the list will be purchased.
Do not go shopping on an empty stomach. This will ensure they do not keep asking for snacks.
Take advantage of free stuff . 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. When shopping look for outlets having promotions such as discount and loyalty points. When starting the value may not be felt but as you continue you will begin getting value.
Ensure efficient usage of resources. Majority of the people waste resources. Children waste the large part of resources in comparison to adults. It is common to find a house bulb own even when there is sufficient sum lighting or find the sink overflowed whether by a kid or adult. This usually leads to have a high water or electricity bill. By efficient utilization of resources we can reduce the cost of utilities. Make it a routine to check that the all bulbs are turned off and all taps closed before leaving the house.
Raising children is rewarding but it require patience and effort. This especially so if you are doing it all by yourself. Ensuring that your kid has the basic need such as food, education, shelter and clothing is the first priority of any parent. Budgeting will enable a parent to be able a fulfill their child’s dream.