These days, no one wants any more financial problems. It's hard enough with a slumping economy and a work force frozen with fear. It's hard enough keeping your head above water praying you avoid any health problems or that your car doesn't break down. Many times, people fall prey to circumstances out of their control. Financial help is not easy to come by, so you have to take advantage of financial resources whenever you can.
Places to Go for Financial Help
If you are a single mom, there are websites where you can get financial help to get you through tough times. At the very least, you may qualify for help with some of your medical expenses or get some financial aid to help you through college so that you can look forward to a brighter future.
There are also several financial advice websites that offer free help for anyone (not just single moms) and will answer any questions you may have about what to do next.
Please see Resources below for links to some of these websites.
Things You Can Control
While there may be a lot that is out of your control, there is just as much that is within your sphere of influence. Budgeting, wise spending and making extra money are steps you can take to vastly improve your financial situation.
Budgeting is a simple but powerful concept. A budget is simply a spreadsheet (or notepad) in which you fill in your monthly expenses and your monthly income. The difference between them is your discretionary income or the money you have left over after paying all the bills. If you have discretionary income at the end of the month, then you are doing fine. If your discretionary income is a negative number, then you have some work to do.
You can cut back on your spending to make your budget look better. Expenses such as entertainment, dining out and cable TV (additional movie channels) can be cut so that your budget improves.
Unless you are physically disabled or have no transportation, there is no reason you cannot work a few extra hours a week to help pad your budget. Even in this economy, part-time jobs are available. Just working five to 10 hours extra per week could help you keep your budget looking positive. However, keep in mind that your health is important too, so do not overdo it!
Maintaining Your Credit Rating
Getting help from your bank can be a tremendous boost. Banks can help you consolidate high interest debt into something that is far more manageable. But before you can even think about getting financial help from a banking institution, you have to make sure your credit is clean. This means making your payments on time and doing whatever it takes to keep your credit in good standing. That effort alone could be the difference between staying in debt and breaking free in the future.
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