The Adventures of Single Parenting Personal Finance

November 20, 2007

Running a household as a single parent is no easy task. I don’t know from personal experience but I’m familiar with how challenging the parent role can be when there are two people participating. I can only imagine how difficult it must be to run a household on your own.

Single Parent’s Money
The most obvious personal finance challenge to a single parent is covering the costs with one income. They have to navigate alone the maze of insurance, college savings, health care costs, debt, budgeting, retirement savings, taxes, and more. 

Single Parent’s Life
Of course, life is about more than money so the next major concern is how do you find time to be involved in your kids lives and have a life of your own while still providing for them and keeping the household afloat? Single moms and dads face unique challenges that we can all learn from, which is why I’m pleased to introduce Tina, our resident expert on the topic.

New Perspective on Money
I wrote yesterday about my trouble with time over the holidays and mentioned a lady that would be helping out by contributing to the site.  Tina is a single mom that faces the challenges I’ve described above and will share her experiences with us in the upcoming weeks.

I write about money & life from a married dad’s perspective. Tina will add additional insight to the content you read here as she covers personal finance from the view point of a single mom.  I asked Tina to share her best and worst personal finance experiences to date:

My best financial moment was probably when I was first married and got my car paid off.  It was a celebration, because I got to quit a very depressing job and become a stay-at-home wife and mother. 

My worst financial moment was when I became a divorced mother of 2 going to school.  We had very little money, and I spent money we didn’t have to make up for “Daddy” jumping ship, and not being there for his kids, and to keep food on the table. I was going to school full-time, and taking care of 2 small children, while dealing with the limitations of cerebral palsy. Although working and going to school full time was not an option, I could have been more thrifty and not dug such a deep financial hole. I am continually paying for that lapse in judgment.

Something else I’m excited about in addition to a fresh and different perspective is that Tina and I share entrepreneurial interests. She left her day job to work from home so she could have a more flexible schedule and spend more time with her kids.  This is something I have been giving thought to and look forward to the insights Tina can offer into starting and running a home based business.

Welcome Tina
I’d like to thank Tina for agreeing to help me out over the coming holiday season and look forward to the insights she has to share.  I hope you all enjoy Tina’s contributions, if you have any questions for her just leave them in the comments or send them in the contact form.


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Ben Edwards, the founder of Money Smart Life, saved up enough to buy a Nintendo back when he was 12 years old. When he used the money to buy shares of Wal-Mart stock instead, he knew he wasn't like the other kids... His addiction to personal finance has paid off for his family and now he's helping you to afford the life that you want. Check him out on the web at Google Plus, Twitter and Facebook.

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2 Responses to The Adventures of Single Parenting Personal Finance

  • jo lane a single mum of 2 youing boys. one with special needs. I have been seperated for 2 years from my husband of nearly 10 years. we lived cairns.but i wanted and needed a fresh start for my boys and i, so i moved to clermont a small country town in queensland with my best friend so i could get back on my feet emotionally,physically and mentally. with her great support, i worked partime and helped her with her three young kids while she worked fulltime. then several months later is was time to stand on my own 2 feet and i moved to yeppoon a gorgeous costal town near rockhampton. My boys and i settled in very well. the school and the small amount of friends i made …My ex then decided he wanted the car back that was my child support from him and i needed the money to feed and clothe the boys. Especially with my oldest child, with hearing aides and new glasses prescriptions plus the travel costs for specialsists appointments etc was doing my head in and was starting to suffocate me… AFter 7n months and only a couple of months work which i was able to get to work inside my responsibilities as a single mother and with no family support and very limited friend support. I had to make the decision,,,as expensive it is to move and my kids and i loved was a place we could finally call home, i needed work. i understood the consequences of moving my 2 young boys from another school where they had made friends and grown to really love the town and my sons special support and special needs he requires in school…But i was guaranteed work in mackay and i had to think of outside the circle and cocentrate on my and my boys financial emotional and personal future…Iknew it was going to be hard but in the long run..i knew i would give them a better life where i was guaranteed employment….so as i have done that, now and with my ex husband as poor responsibilities he holds as a father, left me with a bad credit rating and debts , which i has since paid..But i now need a car.
    I HAVE PERMANENT WORK WITH THE POLICE AND CITIZEN YOUTH CENTRE and work 30 hours a week. I have very very limited family support and am wondering if you know where maybe someone may give me finance for a motor vechile, to get myself to work and my children to school and my eldest son to his specialsits appts and extra curricular activities. i am off to brisbane with my son to brisbane for the specialsits appts for 3 days, which im still waiting to hear from to see some of the transport will be paid for from the hospital. His no 1 specialist vcfs pediatrician only runs a clinic from the small amount i did have saved is now going towards that trip….

    all im asking for some advise to get help for finance for a car
    regards jo


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