Frugal Living Tips For Single Moms
Who hasn’t read articles on how to save money? We all know the frugal practices: earn extra money, budget, keep a spending journal, etc. We got it. We know how to be frugal.
But…
There are times, for some reason, your efforts to be frugal don’t seem to work as well as you think they should. Are you missing something?
Yes, you are, and it’s a frugal mindset.
If you’re new to frugal living, you’re likely focusing on things you feel you’re “giving up.” Emotionally, you’re attached/attracted to a lifestyle that, at best, was barely supporting you financially. Successful veterans will tell you it’s more about visualizing what your money can do for you and making it do just that; it’s setting and accomplishing goals, crossing finish lines.
Essentially, anything and everything you want out of life is a sort of competition. We need an “I’ve got what it takes to do this attitude.” And, it’s easier when you know there is indeed a finish line.
Hint: This isn’t just for single moms new to frugal living. Sometimes, no matter how experienced you are, being a single mom can be a challenge. Life might get to you and hijack your mindset.
Keep reading, and you’ll see what I’m talking about
Frugal Living Is A Lifestyle
Frugal living is about what you need today and want for the future.
Of course, you’ll need what, when, and how plans to transform those future wants into reality. And just to allay any suspicions that you’ll always need to be mirserly wants can become needs. But think about this: The rich don’t spend all their money on stuff haphazardly. They plan and save for what they will buy. They also calculate the price at which something becomes too pricey.
When it comes to money, everyone has two choices to spend or not to spend.
What do you want in your future? That should become your focus. More about that later.
Is It Living Frugally Or On The Cheap
Unfortunately, when you say “frugal,” some people think “cheap.” Don’t let them bother you.
If people have no plan for how their money will be used, they’ll likely spend all they have whenever they have any. That can certainly lead to the need to live most of the time cheaply. Also, people who live cheap rarely accumulate anything of value.
In contrast, as a frugal mom, single or not, you have a plan for your money–when and how to spend it. It’s called a budget,
A budget allows you to cut your living costs by eliminating frivolous spending. You get to save money you used to waste. (Saving now can get you through times when cash is short or be accumulated for future use.)
You’re also a savvy shopper. You take advantage of sales and use other money-saving tactics. (This often allows you to get value for your money).
Do not let what others think affect your success. You are not cheap. You’re smart. You’re frugal.
Don’t Sabotage Yourself
Every action starts with a thought. Be careful about what you think when it comes to spending money.
I’ll use a food analogy:
I know too many people that fail at diets because they dwell on the wrong things.
Desserts are known for their sugar content. And after a meal, almost everybody everyone wants dessert and more dessert. They dream about dessert.
A person on a diet shouldn’t dwell on how good another piece of cake will be, or another serving of ice cream won’t hurt. They follow through and consume it. Then, they justify having had more because “I can work it off tomorrow.”
“Tomorrow” gets here with its own temptations. Yesterday’s lapse is minimized or forgotten… Do this too often, and you’ve tanked the diet, maybe even put on some weight.
Let’s look at this from a frugal living perspective:
You go to the store for a planned purchase. (That’s your “meal.”) Then take some time to look around. You see all kinds of great stuff, maybe something you’ve been dreaming about. (Dessert?) But you haven’t planned for it, and you can’t afford it. Are you going to be a consumer? You’re setting yourself up for your frugal plan to fail. Are you going to tank your budget?
It doesn’t take long to build an overwhelming list of “I wants.” Stay focused. Conduct your business and leave. If you do see something that says “Buy me,” it’s still time to go.
When temptation is no longer in front of you, you can think about what that purchase would mean to your financial future. You can pull out your budget and determine how the cost would affect its effectiveness. You can decide if and where it fits in the goals you’re saving toward. (Budgets can be adjusted. You just need to make sure your tomorrows are covered.)
Pro tip: Don’t allow yourself to go into situations that will tempt you to lose sight of your goals. Stay focused.
Splurge Once In A While
Does splurging sound counterproductive? It doesn’t have to be. Splurges can be planned as a funded category with your budget.
All work and no play is not a healthy practice. Only when it gets to be too expensive or too frequent does splurging become a problem. You need to enjoy life, and as a mom, especially a single mom, there may not be too many people who think about giving you positive incentives to keep on going.
Splurge in moderation. Make time for it. Build it into your budget. (If it’s not a big ticket item, would something from your I want list qualify?) With a frugal mindset, you won’t overdo it.
Don’t Give In To The Children
I, like most people, love children. Mine are grown, but when they were little, their mindset was “give me, give me, give me.” That’s natural. Young children are dependent. To live, they need much of what we give them, so they generalize that in every aspect of life.
But…
There’s a difference between giving them what they need and giving in to all their wants. Give in to them too much, and you’ll destroy your budget. (Much the same as overindulging ourselves.) Also, parenting experts will tell you children need to hear “No” when appropriate (from an adult’s point of view.) You’ll be doing yourself and the children a service by teaching them they cannot NOW have everything they think they want just because it’s come to their attention.
If you are going to get ahead financially, you need to use restraint when giving into children’s “I wants.” You’ll also be teaching them restraint. And when the time comes for them to manage their own finances, restraint will be a beneficial habit.
That said: Occasionally, give them a splurge too. And, just as with yours, build it into your budget.
Stop Comparing Yourself To Others – Do The Right Thing
Comparing yourself to other people is counterproductive. We either get overly proud of ourselves or depressed.
For some reason, we feel the need to compare ourselves to others. Why? They have their life; you have yours. We need to focus on what we are doing. How are you doing in meeting the goals you have set for yourself?
Of course, you can learn from other single moms about how they handle their finances, but no life is a carbon copy of another. How are you doing at making your dreams come true? Evaluate everything in light of your own progress and only use tweaks that will help you do better.
Do spend time evaluating your progress. Do spend time brainstorming ways to move forward in accomplishing your goals faster/better. The more you own your frugal lifestyle, the better it will serve you.