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1 Become informed –Read as many articles as you can to find out about our national economy and its effect on the world’s economy. Reading one article a day or as little as 15 minutes a day can quickly paint a more accurate picture of what’s going on in our national economy. God instructs us to get an understanding in everything we do. So it is your obligation to become informed. A basic knowledge of economics is a foundational principle to understanding how and why it affects your household budget. Knowledge is power; so take some time to educate yourself with facts and truths to be able to better handle what life may throw at you – so you won’t be surprised, but prepared!
2 Write down a home budget – Although you may know and store your expenses in your head; now is the time to write them down on paper. Seeing your budget in writing will allow you to realize just how drastically your expenses have changed or increased over the last couple of years. More than likely you’ll realize that your spending habits, unfortunately, have not changed as much. This is where you stop denying and admit that you have some restructuring and reprioritizing to do.
3 Keep your receipts – Find a little envelope or buy a medium-sized plastic cosmetic bag. Label it Receipts. Place a pen and pencil inside of it, then place it in the glove compartment of your car or in your purse if you’d rather. Request a receipt for EVERYTHING you purchase from gas to groceries, convenience store, prescriptions, etc. and place it in the bag as soon as you make the purchase or get into your car. If your receipt does not detail your purchase and date, write it on the receipt yourself. At the end of the week take all the receipts and put them in categories and staple each stack. The category totals will later be added to your home budget sheet. Later, file your receipts away by the months. This way you’ll start having control of what’s coming in and what’s going out immediately.
4 Identify ways to cut your expenses – Once you begin collecting your receipts, you will probably be shocked at the way you actually spend your money. Collecting your receipts allows you to track your spending habits. When seeking to trim your expenses look for things like entertainment, eating out, snacks, clothing, hair and nail care, travel, video rental, entertainment, etc.. These are areas that single moms spend tons a money annually without even realizing they are. Saving this money over time can equal new furniture, a new car and something more tangible and significant for you or your family.
5 Give – The Word of God tells us to pay our tithes (10% of your income) to your church and it also encourages each of us to give freely to others. Ever wondered how some people could give such elaborate gifts and always seem to have more and more to give again and again and again? Well, it’s God’s principle of giving; give and it shall be given unto you, pressed down, shaken together and running over. Tithing should not be up for discussion. It is a direct order from the Word of God. If you do it cheerfully, unto the Lord, you’ll be blessed for your obedience. Everything you give over and above our tithe is your offering unto the Lord. This helps to maintain His kingdom work. The wonderful thing about giving is that it doesn’t have to be large or great, it should simply be done with a willing and joyful heart. You can bake a pie for someone, baby-sit a friend’s child one evening for free, buy a couple of grocery essentials for a family in need or bless a homeless street person with $5.00 for food. There are so many creative and inexpensive ways to give. Every last one of them will return blessings in your life and give you an inner sense of accomplishment and God’s love. Be led of the Lord in all you do, but try it, you’ll be delighted you did so!
6 Pay yourself – When money is tight as it often is in a single-parent home, paying oneself is often laughed at or thought to be impossible. However, paying yourself doesn’t mean saving half of everything you make. It simply means taking something out (even if it $20.00) of your paycheck and saving it for a later day. Did you realize that over a year’s time, $20.00 twice monthly could equal up to $480.00… WOW! When’s the last time you had $480.00 in the bank or anywhere that you could do whatever you wanted with? So, start somewhere, start small, start today… your nest egg is just waiting to be developed .
7 Plan to change your financial position – This is the most exciting strategy of all. Why? Because this is where you decide to redirect your thoughts from being a sad and single survivor to an overcomer - SinglySational Mom! Remember being SinglySational is an action, a state of mind that begins by thinking on a completely different level. The bible says that with God all things are possible if we believe. If you think as a sad, single mom you will never realize the many possibilities that lie within your reach. If you think as a SinglySational mom you realize that God has equipped you with the wisdom, strength, and the favor necessary for you to achieve great things. Everything you need is made available to you according to God’s promises; all you have to do is believe and receive it. So get up, think proactive, innovative, and creative. Maybe you’re thinking of continuing education or you may want to open a business, and start investing. This is where you decide to live the life you were always intended to.
Take these tips and be encouraged that your best financial days are ahead. Enter the future cautiously but fearlessly. Remember that in everything there is a season; therefore this tumultuous season will one day pass also. Instead, embrace the opportunity to regain control over your finances and take another step toward repositioning your life. So, no excuses mamas, lets get up and get about the business of turning up the sensationalism in your life. You are blessed among women and God has shown you an extra measure of strength and provision for your journey. Embrace it, trust it, receive it and run with it. Your best is yet to come!
Author:
Darla Ray is a budding entrepreneur with a passion for repositioning single mother families through education and entrepreneurial opportunities. She mentors single mothers in her local area by speaking to groups, blogging and providing resource referral services. She is a single mother of two and maintains a full-time position in an inter-national ministry. She is currently in the process of opening a transitional-home for single-mother families who desire education or entrepreneurial opportunity.
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