As a single mom, financial independence can be difficult to come by especially if you are still numb after having experiencing emotional abuse. It takes courage and perseverance to create a strong foundation for both you and your children. I am living proof it’s possible! Here are some strategies on how I found financial independence as a single mom:
It’s important to make purchases based on your values, goals and financial situation.
With this in mind, the information I provide here is for educational purposes only.
I am always here to help with 1:1 coaching 😊
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♡Renee
Creating and sticking to a plan that actually works is important for establishing financial independence. Make sure to include all expenses, such as groceries, transportation, childcare, etc. This will help you monitor your spending and ensure that you are not overspending on any particular item or service.
An emergency fund is essential in case of unforeseen circumstances like needing new tires or a car repair. Have a plan in place to save money each month and create a cushion of savings that can provide financial security in the event of an emergency. Life is full of unexpected expenses. Plan for the unexpected to reduce stress😊
If you have any outstanding debt, make sure to prioritize it and explore ways to reduce your debt burden. This includes understanding the loan amount, interest rate and amount you currently owe. Make a list of all debts so you have a clear understanding of what you owe. You can negotiate with creditors in the event you are in a predicament. As an AFC (Accredited Financial Counselor), I can certainly help you with that.
As a single mom, it can be hard to make ends meet on a single income. Consider exploring additional sources of revenue, such as freelancing or turning your hobby into an income-generating activity. There are many possibilities. I ended up getting reduced rent for being a Keyholder.
There are many programs and services available to single moms. Take advantage of the various benefits and resources that can help you become financially secure, such as housing assistance, utility assistance, education, and job training.
By taking steps to establish a strong financial future for yourself and your children, you can eventually achieve financial independence despite having experienced emotional abuse. With a spending plan and an emergency fund in place, you can begin to take control of your finances to create a strong foundation for yourself and your family.
From one mom to another, “You Got This!” I created a PDF of Healing Affirmations to help you heal. Want to heal emotionally, physically & mentally? The 11 Day Jumpstart has helped me lose weight, sleep better and eliminate anxiety medication. 💕
Remember, it’s never too late to start taking steps towards financial independence – all it takes is dedication, changing bad habits into good habits and perseverance. With the right attitude and support, you can achieve financial freedom as a single mom.
Your efforts will pay off! I never thought in my wildest dreams I would ever buy a house as a single mom and I did! I wish you the best in achieving your financial goals 💕
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