How Single Moms Can Save Money-5 Tips

When you’re a single mama, it goes without saying that you can’t forgo budgeting. And the most stressful part about money woes as a single mom is that you often can’t shake off that nervous feeling when it comes to your finances. After all, you have yourself and your little ones to support! But, the good thing is, there are simple tips for saving money that you can implement to alleviate your stress. With practice and discipline, you’ll be saving money in no time flat.

Tip 1 Stay Home For Dinner

It’s easy to fall into the habit of eating out on the regular as a single mom. But the harsh reality is, eating out costs add up quick. Try to interpret eating out as a treat. Not only will you enjoy it more, but it’s a simple trick to curb your spending, too. If the thought of eating at home more often sounds lame, trying mixing things up in the kitchen. And not only that, but take a stab at whipping up some of your favorite restaurant recipes at home! You’ll be surprised to discover just how much more affordable it is to feed your family at home the same delicious food you’d order/eat out. Check out some delicious restaurant recipes you can master at home here.

Tip 2 Limit the “Extras”

Everyone loves to look and feel their best, but when you choose to splurge on self-care, find ways to cut down on your spending by giving yourself a DIY pampering session. This will not only help you to cut back on spending, but it’s a great way to bond with your little ones, too. After all, who doesn’t love a mommy and me spa day at home!

Tip 3 Change counts—literally

Looking for tips for saving money that stand the test of time? Collecting your change is a proven saving money tip that really does work. And, you can even get the kiddos involved, too. You can use accounts like Chime where you can rollover spending automatically to a savings account, or keep it old school and collect all your change from daily purchases. Those coins add up, and get the kids involved in helping you roll it and avoid the Coinstar fees. And best of all, perhaps you can treat you and the kids to a meal out with all the change you’ve saved! (Just remember to swap it out for bills at the bank first! LOL)

Tip 4 Consider buying or selling clothing on ThredUp or Poshmark

Want to replenish your wardrobe with some new fashions? Consider selling gently used clothing you’ve got hanging to make room for newer clothing. This swap-out spending technique will save you money, and you can channel your female entrepreneurial spirit in the process! If the idea of buying clothing others have worn freaks you out, remember, people at stores try clothes on, and if you’re going to wash it before you wear it, what’s the difference? Trust us, no one will know the difference anyways—and you’ll look fabulous for way less than retail price!

Tip 5 This might be tricky, but learn and exercise the power of “no”

If you’re a people pleaser, this key tip for saving money might be easier said than done. And this doesn’t just go for saying “no” to your kids either. This means implementing the power of saying “no” into your daily mantra. It’s easy to get caught up in the nonchalant “yes, I’ll see you there” and “yes, we can go do that” but this is a slippery slope and recipe for disaster if you’re truly working towards saving money.

Cutting back on your spending is a conscious effort and takes practice. It won’t happen overnight, and it’s best to go in slowly as not to snap and go into a spending frenzy. But the power of saying no—even to your children—is one of the very best tips for saving money of all. It shows discipline, teaches your kids the value of money and spending by example, and above all, saves you from frivolous spending!

Are you a single mom that works really hard to save and get ahead financially?

Share you tips to save money with our single mom community. We’d love to hear them!