10 Ways Single Parents Can Save Money
According to the US Census Bureau, there are over 14 million single parents in the United States, and those single parents are responsible for raising more than 22 million children. More than 80% of single parents are mothers, and more than 30% percent of all single parents receive public assistance.
Single parents often struggle with buying basic necessities and paying bills, and usually live paycheck to paycheck. Single parents often do not have any savings and are in debt. Here are some ways that single parents can save money so they can make ends meet.
10 ways for single parents to save money:
1. Buy a Used Car:
Buy or trade in your current car for a used car with a cheaper note. This will either eliminate your car note or save you $50 to $200 a month on your car payment.
2. Use Coupons:
Buy whatever items are on sale or buy items with coupons. This can save you $50 to $300 a month. There have been instances where shoppers had a total bill of $200 and ended up paying $5 using coupons and buying items on sale.
3. Buy Generic:
Buy everything generic: household items, clothing, prescriptions, toiletries, dry goods, canned goods, paper products, etc. This will save you on average $5 to $50 a month.
Buy clothes that do not require dry cleaning. This will save you on average $50 to $150 a month.
5. Do you own hair and nails
and buy your makeup from a drugstore, such as CVS or Rite Aid. This will save you on average $40 to $100 a month.
6. Gas:
Buy regular gas for your car unless the owner’s manual suggests otherwise. Find the cheapest gas in your neighborhood to purchase. This will save you on average $.05 to $.20 per gallon.
7. Shop at Discount Stores:
Buy household items in bulk, such as paper products, cleaning supplies at discount stores such as Target, Wal-Mart, Costco, etc. This will save you on average $5 to $50 a month.
8. Reduce Expenses:
Reduce or cancel your cable plan, cell phone or Internet service, or get the cheapest plan available. This can save you $20 to $100 a month.
9. Buy Groceries at Superstores:
Buy your groceries at superstores or wholesale stores such as Wal-Mart, Costco, Sam’s Club, etc. Buy nuts, grains, spices, legumes at wholesale or health food stores. This will save you $30 to $200 a month on processing costs charged at regular grocery stores.
10. Fun with Kids:
Check your local library or newspaper to find free activities that you can do to with your kids. This can save anywhere from $5-$100 a month.