10 Easy Ways For Single Parents To Save Money

By | December 21, 2020

Based on the recent study by World health Organization (WHO), there were approximately 15 million single parents in the Philippines. These are combination of single moms and single dads statistics.

With the current condition of the country because of the COVID-19 corona virus disease, life has been really hard for many. And that statistics is just for one country. Can you imagine the number world wide?

Considering the downtrend of economy that the world is currently experiencing, many single parents were greatly affected. And especially those who have low income.

070 10 Easy Ways For Single Parents To Save Money

Support from the government and from the private sector seems not enough to ease the effect of this pandemic.

Child care subsidies and public health insurance can help with closing the gap between low income and what it takes to make ends meet. Not all low-income families receive the benefits for which they are financially eligible.

Families who receive multiple work supports can lose assistance before they reach self-sufficiency. 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 10 easy ways for single parents to save money:

1. Buy a second hand 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. Read more on 5 Ways To Save Money On Your Car’s Gasoline

2. Use coupons

Use coupons to buy whatever items are on sale or buy items with coupons. This can save you $50 to $100 a month. There have been instances where shoppers had a total bill of $200 and ended up paying $100 using coupons and buying items on sale.

3. Buy generic products

Buy everything generic: household items, clothing, prescriptions, toiletries, dry goods, canned goods, paper products, etc. This will save you on average $50 to $100 a month.

4. Buy washable clothes

Buy clothes that do not require dry cleaning. This will save you on average $50 to $100 a month.

5. Don’t go for expensive salon yet

Do you own hair and nails and buy your makeup from a drug store. This will save you on average $50 to $100 a month.

6. Gasoline consumption

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 $50 to $100 a month. But of course this will still depend on how heavily you use your car these days.

7. Shop at discount stores

Buy household items in bulk, such as paper products and cleaning supplies at discount stores. 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. You may 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 at home

Check online to find free activities that you can do to with your kids. This can save anywhere from $5-$100 a month.

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