All they spend more than one takes in,

All single parents will encounter problems if
they don’t start budgeting and keep a firm grip on all their expenses. It’s
extremely simple to overspend and/or unbalance one’s budget, if one doesn’t
keep track of where all the money is put in and used on. Spending a couple of
months adding and saving receipts and calculating one’s total expenses is a very
good idea and a great start to have an idea where exactly the money is being expended
at and where all the money goes. Then, subtract one’s monthly total expenses
from the total monthly income. Because single parents are the sole breadwinner,
they can’t depend on any additional income. So, if they spend more than one
takes in, then there is a big problem. The skill one is trying to master is to
figure out where one can cut costs to not end up in debt. The easiest way to accomplish
this is by dividing one’s expenses into many essentials such as food, housing,
electricity and transportation, and non-essentials like eating out or gifts.
Look at the essential expenses and decide if there’s any way you can save money
in this section, such as limiting the amount of electronics in the house turn
on or using coupons/food stamps to save money on groceries. Meanwhile, look at
non-essentials that can be drastically reduced or just eliminated altogether, such
as limiting the amount one spends on a gift

 

Money gives many parents nowadays a very difficult time, but the
ones who are having the most difficult time are single mothers. The wage gap in
America based on a gender has created more poverty, and a larger lower class.
Roughly, 60 percent of the children who are living at a home with just a single
mother most of their lives are impoverished, in comparison with 11 percent of a
two-parent home. About ninety percent of all single parent homes are headed just
by females. The homes with a mother only family are at more risk of falling
into the poverty line in America due to the lower earning capacity. The lack of
a sufficient income has been identified by experts as the most important factor
of single parents falling in poverty. In 2012, an average income of a single
mother was about $25,000 annually and for a single father was about $36,000 annually.
Low income influences the health and future of the children indirectly through
a sequence of many different negative impacts on the family’s relationship and
parenting. This leads to single parents to undergo a variation of stressors
related to poverty. Reducing the wage gap among the genders and enhancing the
programs available to help those single parents in need can reduce the poverty
rate and provide the children with a better future.

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