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5 Ways for Single Moms to Save Money

by Jenna Lang

Single moms are always looking for ways to save money, and for good reason – the more money you keep in your bank account, the more peace of mind you and your children have. It’s important to find ways to cut corners on the little things that perhaps you don’t think about too often, because those are usually where your biggest money drains are. Which of these options can help you save money?

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Madlynn is Kid of the Month

Cutting Grocery Costs without Cutting Nutrition

Simple, healthy, and affordable ways to weather the rising price of food

by Karen Collins, R.D., American Institute of Cancer Research

Grocery prices are projected to increase again in 2008 – that’s following 2007’s highest annual increase in 17 years. But surviving these tough economic times doesn’t have to mean sacrificing good nutrition. Some simple strategies can help you cut food costs and eat more healthfully, too.

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Using Insurance to Reduce Risk

econ4u.org

All Choices Involve Risk: There are no risk-free choices. Usually, the best way to reduce risk is to take action yourself. For example, to reduce health problems, eat right, get plenty of exercise, get enough sleep, don’t smoke, avoid drugs and so forth. But, since there is no way to avoid risk completely, a common approach is to buy insurance to help reduce the financial losses that can result from bad things that happen.
How Insurance Works: ...In the real world, the fee (premium) would have to be large enough to cover not only the losses but the cost of operating the business and earning a profit. And because things don’t always go according to plan, an insurance company needs to be prepared for unexpected costs. If 10 residents have their apartments robbed, the insurance company needs to have enough cash in reserve to pay them back, for instance...

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How to Save on Your Grocery Bill

A full cart doesn’t have to leave you with an empty wallet

by Kati Neville

Don’t buy non grocery items at the supermarket. Health and beauty goods are usually cheaper at mass-market retailers, like Target. And you’ll find the best deals on paper products at warehouse clubs.

Purchase oranges, onions, and potatoes in bags rather than individually. You’ll pay roughly half the price.

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Fix, Freeze, Feast

by Kati Neville and Lindsay Tkacsik

In addition to recipes they also have tips for organizing your shopping list, packaging meals and preventing freezer burn...

Are women paid less than men?

by Diana Furchtgott-Roth

One of the concerns of working women is the “pay gap” – the alleged payment to women of 78 cents for every dollar earned by a man. But there are more behind these numbers than first meets the eye, because women work different hours, major in different subjects, and choose different careers.

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Gut Decisions May Not Be Smart

by DEIRDRE VAN DYK

If you have ever struggled with a difficult decision — new job vs. new boyfriend, sports car vs. minivan, read the book vs. see the movie — you have likely also been offered a heap of decision-making wisdom. Make a list of pros and cons. Go with your gut. Sleep on it.

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5 lessons the rich can teach you

They don’t just have more money. They spend it, borrow it and save it in ways that might benefit you, too.

by Liz Pulliam Weston

... Studying the habits of this relatively large and growing group of affluent folks can teach us a lot. These people don't just have money; they treat it differently than people farther down the economic ladder.

The rich are indeed different
At least, so say various surveys of the affluent. Among the most notable differences:

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Saving money - you can do it

Strategies for saving more and spending less

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Banking news
 

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Single Moms - find here resources on financial aid, scholarships, help with basic needs, food, prescription drugs, health care, housing, legal info, and much more...

 

Financial Guide Through a Divorce

 

by Kelly Kennedy

Going through a divorce by all means is not easy. Even coming to the realization that you want a divorce or your partner wants to separate, can all be overwhelming. That’s just the beginning; divorces can get ugly when it comes to dividing all joint obligations. However it needs to be done, so here are some pointers to help solve any problems that may arise.

 

Cease All Financial Obligations

 

You must protect your financial interests in a divorce by ending all joint financial obligations. This includes everything from credit card accounts, mortgages, and jointly held loans. Either refinance the loans or sell the house or car. Sometimes people can work through the divorce and get what they want, but if you both want the same things, just sell them and move on.

 

If joint accounts are not yet closed, you are held legally responsible if your ex-spouse decides not to pay off any accounts left unpaid no matter what the divorce decree says. Don’t risk your credit from being destroyed or take the chance of getting kicked out of the credit market completely.

 

Don’t forget to consider each of your retirement accounts and stock options, if any.

 

Instead of going through the hassle of divorce lawyers, try using divorce mediation, which is a less adversarial process. Divorce mediation involves having the mediator get the two parties together to reach a fair agreement. If you do decide on this option be sure to still have the mediation agreement reviewed by a lawyer.

 

If you had any children together, and your ex-spouse is months behind or more in child-support payments, think about using a collection agency. Don’t feel you need to bear the financial burden all alone. If you paid more than one-third of the amount due, you’ve paid too much and need to contact a collection agency to settle the problem.

 

More on divorce mediation

 

Its good to hand over the mediators work to a lawyer to make sure everything is legally correct. However, there is a new spin on divorce mediation, which is termed “collaborative divorce.” With this, lawyers are involved from the beginning instead of being brought in afterwards. Its far less expensive than hiring a divorce lawyer to do all the work. Parties only pay about one-tenth and you both agree to make a settlement. It’s basically like a mediation settlement but with lawyers present. This field has grown to be four times larger than it was three years ago so it’s become an association called American Institute of Collaborative Professionals. Although divorce is not generally collaborative it has been effective but it’s not good for everyone, including individuals that were the weaker ones in the relationship and for those who were verbally or physically abused.

 

When Divorce leads you into Debt

 

If you thought divorce was going to be the best decision you made and ended up being left with a financial disaster, you aren’t alone. It happens all the time, but its best to get help right away. Above you were given tips, on what to do when going through a divorce but if you have been out of a divorce for some time and are now struggling to get by on one income you should consider your options. Depending on your income, if you are just making ends meet, then you should set yourself up a budget so you can cut out costs you don’t need to be spending things on, or consider looking for a different job that pays more.

 

If on the other hand, you are in debt and can’t seem to climb out, it’s recommended that you get professional assistance. America has been struggling with debt for far too long, and not taking the necessary steps that need to be taken to get out of debt. There are a vast number of solutions to eliminate debt such as doing it on your own, credit counseling, debt management programs, debt consolidation, or bankruptcy. Find the solution that’s best for you, get out of debt, and stay out which will make your life more enjoyable.

 

About Author:

Kelly Kennedy is the Communications Specialist for MindComet Corporation, a full service marketing agency for Fortune 500 companies and international conglomerates. Kelly specializes in public relations strategies focused on single mother's financial guidance. Kelly has been author to hundreds of articles focusing on single mother financial concerns. She also acts as a contributing author for a wide variety of websites and newsletters. Kelly holds a Bachelors degree in Marketing from the University of Central Florida.

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Top 8 Tips for Reducing Kids Screen Time This Summer

Reducing time spent in front of televisions and computers is one of the easiest ways to improve your family's health. Here are eight simple ways to limit screen time so you can help crank up your kids’ energy, re-charge their minds, and improve their health.

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What would you change?

Weekly Column, by Annette Bridges

Change -- some people dread it, and others can’t get enough. It may be much like the idiom, “One man’s trash is another man’s treasure.” When it comes to what we would alter or why we would make a modification, the answers vary because we all have different things we value, want, need and consider important.

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Being a Role Model

by Laurie Cesario-Overton

If I had to choose one sentence that would best describe what I feel parents need to learn, it would be this: Be your child's BEST ROLE MODEL in all the ways that truly count. Be your child's HERO. Whatever you do, do it for all the right reasons.

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How to Find the Best Car Loans for Single Moms

Financial Advice for Single Moms

The best car loans for single mothers might be just around the corner at your local car lot.

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3 Money Rules for Stay-at-Home Moms

As we all know, life is unpredictable. We lose jobs, get divorced and even become widowed...
Here are three steps stay-at-home parents should take to better manage their own and the family’s finances.

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You May Have Too Much Debt But You Also Have Options

How Life Works

If you feel like you're in over your head with personal debt, you're not alone. Millions of Americans have become overextended, many as a result of easy credit and the recessions. Credit cards, medical bills, personal loans and raising interest rates do not make a good financial mix.

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Could fat babies mean fat toddlers?

A new study from Harvard Medical School found that babies who gained weight quickly had a sharply higher risk of obesity. The study followed close to 600 babies and found those in the top quarter of weight for their length at 6 months had a 40 percent higher risk of obesity by age 3 than smaller babies.

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Crystal Bowersox - A Single Mom And A Real American Idol

Read how the amazing Crystal Bowersox. the runner-up of American Idol Season 9, handles fame and life as a single mom, raising her 17 month old son.

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5 Ways for Single Moms to Save Money

Single moms are always looking for ways to save money, and for good reason... It’s important to find ways to cut corners on the little things that perhaps you don’t think about too often, because those are usually where your biggest money drains are.

read more

Suze Orman's Recession Rescue Plan - helps you survive in times of financial crisis

OPRAH.com

Do you know what your family would do if you lost your job - or worse, your home? Financial expert Suze Orman is ready to help you devise a recession rescue plan to survive - and possibly thrive - during this deepening financial crisis...

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Your Just-in-Case Emergency Plan

by RealSimple

Who do you call if you can't make it home in time to meet the kids' bus? Who do you trust to take in your mail when you're on vacation? Who do you trust with the extra set of keys to your house?

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How to save $10,000

By Liz Pulliam Weston

If you were hoping for a list of small tweaks you could make in your spending to save $10,000 a year, sorry. The reality is that $10,000 is a lot of money. And saving big money usually means making big changes in the areas where we spend the most, such as: Housing, Transportation, Food.

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The Super, Sexy, Single Mom on a Budget

by Renee Rayles

A quick reference guide designed for the busy, single mom who has

little time to read while running the mom taxi, cooking dinner, helping with homework, and trying to fit in a date night every now and then.

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Single Mothers &
Male Role-Models / Mentors

Single mothers carry an enormous load of responsibility, especially those having sole and/or primary custody of minor children. They nourish, they nurture, they teach, they discipline, they shelter, they protect, and they provide… all without the assistance of another equally-invested adult.

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Mom's Obesity Raises Newborn's Heart Risk

from the National Institute of Health

The more obese a woman is when she becomes pregnant, the greater the likelihood that her newborn baby will have a congenital heart defect, a new study suggests. The finding raises concerns because 1 in 5 women are obese at the start of pregnancy in the United States.

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The 10-Ingredient Shopping Trip

By Tara Parker-Pope and Mark Bittman

... In his latest “How to Cook Everything” segment on the Today Show, New York Times food writer Mark Bittman makes it surprisingly easy to cook a week’s worth of dinners with just a 10-ingredient shopping trip.

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Your 5-minute guide to protecting your identity

20 steps to protect yourself from identity theft, and seven ways to clean up things if you become a victim.

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TheOnlineMom.com offers parents and consumers a guide to the top-rated, age-appropriate, kid-tested and parent-approved tech toys and gifts.

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Single Moms in the News

6 Best Celebrity Single Moms
Read about Halle Berry, Sandra Bullock, Michelle Williams, Reese Witherspoon, Kimora Lee Simmons, Mary-Louise Parker... read more

Diary of a Wimpy Kid: The Last Straw

by Jeff Kinney

For those wondering why tween boys don’t read very much, the answer is that more books aren’t like this...

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Money makeover: Single mom

Jacqui Sentmanat is trying to give her child the best of everything, but who's looking out for her financial future?

by Joe Light, Money Magazine staff reporter

(Money Magazine) -- When you're the single parent of an only child, you want only the best possible life for your kid. That's how Jacqui Sentmanat feels. But it's an expensive proposition.

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The best financial advice ever

Prince Charming isn't coming. Live like a college student.
Never co-sign a loan. Money experts like David Bach and readers like you share the best nuggets of wisdom they have ever received.

by Liz Pulliam Weston

... If you're not doing well financially, maybe you're finally ready to hear some advice that could make all the difference.

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Tips on How to Take Care of Yourself During a Global Crisis

by complaintsboard.com

During these last few months, the stress levels have been on the rise, from people struggling with finances, to the banking stresses, to the swine flu projected pandemic. There is a lot of uncertainty, a lot of unnecessary panic, and a lot of overall fear... For one thing, with the information overload that is being thrown in every which direction except straight leaves you wondering what is the truth, and what is not? ...

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Live well without going into debt by Donna Freedman

Living frugally (and debt-free) is a lot more fun than living with worry. I'll show you how you can enrich your life without breaking the bank.

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No More Money Stress!

...You have to remain positive..., because anxiety muddies your ability to think through problems clearly. Panic fuels rash decisions that could cost you much more in the long run than those made after careful deliberation.
If you've plunged into a financial funk, just take a deep, serenity-bestowing breath and follow these guides to regain control.

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