Financial ability

narcosis75
narcosis75 Junior Member Junior Member
in Single Mothers
I'm 37 and thinking of having a child on my own. I have a good job and my own home. I was wondering how others manage financially with only one income and being on your own? Any budgeting advice out there?
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  • Anne72
    Anne72 Senior Member Senior Member
    As soon as I decided to do this on my own, I started living on the budget that I will need to be on when my little bit arrives. I put what I will pay for daycare into the bank every month and don't touch it. I've cut way back on ordering in dinner and other expenses. It has allowed me to save up quite a bit of money so I can then spend those savings on buying all the baby stuff likes cribs, car seats, etc.

    I also use my credit card for everything that I can (paying off in full each month) and am saving up the cash back. I should actually have almost a month's worth of daycare costs saved by the time s/he arrives. Of course, I've been trying for almost 2 years so lots of time for savings. Little Bit is now due in March 2013.
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