It is possible to create a budget if you are a single parent. And, if you involve your children, they may even learn good spending habits in the process!

Review Financial Documents. If having life insurance is affordable for you, it could benefit your children during a time of need. Perhaps you could create a will, review your retirement accounts and update all beneficiary information where applicable in order to secure their future and give you peace of mind.

Control Spending While Having Fun. Consider creating a spending plan. If you aren’t sure how to start, enlist the help of someone who can offer you responsible advice about budgeting and finance. You may also want to talk to your children about the importance of a good budget. Go shopping at sales and clip coupons together. You could plan a ‘cheap date’ outing during which time all of you can take advantage of special events such as ‘Kids Eat Free’ meals or Family Days/Nights at local facilities. Your public library could offer access to free resources.

Shop With Cash. This may take some planning but consider if it would work for you. Try taking a calculator along with you on grocery trips and add the cost of each item as you put it in your cart This may help you eliminate unnecessary items.

Take Time To Do Things For Yourself. If possible, discuss issues with family members and trusted friends. Remember, taking time for yourself doesn’t necessarily mean you are being selfish. Also, think about finding an inexpensive hobby that could help you relieve stress. If you feel calm and centered, you may make better financial decisions regarding you and your children.

Save On Child Care. Consider the help of relatives, friends or other parents. Discuss if they would be willing to watch your children and try to come to an agreement about what you can afford to pay. If your child is a student, some schools offer inexpensive after-school programs.

Consider A New Career. Do you feel you need to update your job skills or foster new ones? Think about what you might like to do and contact an individual in that career field. Perhaps he/ she would be willing to meet with you, discuss their career and serve as a mentor.