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Single Mom Money Savers

Making Ends Meet Without Feeling Deprived

By Shannon McKelden

Many items commonly used by small children can be found at garage sales or on sites like eBay at a fraction of the cost of new. Motherhood Market is an online site where moms can buy used baby items. Selling your own no-longer-used items on sites such as this can put a little bit of money back in your pocket, as well.

And don't forget hand-me-downs. It's possible to save hundreds of dollars over the years by clothing your kids with the generous donations of friends or relatives.

Believe it or not, you can save money on health care expenses. Sember recommends setting up a flexible spending account with your employer. Money for this savings account is deducted from your paycheck before taxes. This reduces your tax bill along with making sure you have money set aside for unexpected doctor visits, prescription refills, and, in some cases, over-the-counter healthcare products. (There is also a flexible spending plan for childcare expenses.)

"If your ex has responsibility for medical costs, try to have doctors' offices bill him directly so you don't have to take the money out of your pocket and try to get reimbursed," says Sember.

What about those unexpected or long-term expenses? After all, cars break down and Baby will eventually want to go to college.

Sember suggests collecting coins and depositing them into your savings account once a month. "If you get a rebate, bank it," she adds. "Every time you have a tiny bit of money, stash it. Little bits do add up."

Want to see more?

• Single, Not Solo: Resources and Support for Moms When They Need It Most
• Single and Social: Navigating the Dating Trail
  With Little Ones
• Finding Elmo: Fill the Toy Box on a Budget
• Talk about it!

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