As a single mom of three, budgeting can be more than challenging. As a mom and breadwinner you want to be able to afford the basic necessities but provide the wants as well.

Being a one income family and having the sole responsibility for all your Expenses can make it difficult to stick to a budget. However, there are ways to tighten the reins and stick to a budget.

List your expenses

I’ve found that listing your expenses is one of the best ways to keep track of your money and a way to curb expenses.  There are many planners or calendars available some even specific to expenses. I personally use an Excel to keep track of all the money coming in and the money going out. It even contains sheets for my billers, payments and financial goals.

Track all your expenses no matter how big or small. This helps you to make sure you don’t miss any payments or deadlines and you can easily identify what you can eliminate from your budget when the belt needs tightening.

Focus on any outstanding payments or debts

In order to be financially healthy you have to be current on all your bills and payments. This also means that you have no outstanding debts so that you can budget your expenses carefully and have a little left over for savings.

The best way to tackle any outstanding charges or payments is to list them down and prioritize by payment date. It may take less spending on extras for a certain period of time but once you’re out of debt you’ll be able to freely spend without guilt.

Shop Smarter!

Shopping lists! Another helpful list to have. Going into any shopping establishment most importantly the grocery can be a temptation. Without a list you can find yourself picking up item after item and then be at the checkout counter with a basket full of unnecessary and costly purchases. Creating lists can help to avoid needless spending. Also consider deals and discounts but keep it to brands you sincerely use rather than buying items because they “look like a great deal”.

Don’t spend what you don’t have

When we expect money to come in, we have a tendency to earmark or spend it already. We can make allowance for the incoming money but make sure not to rely on it as payment for any major bills in case it falls through.

There are plenty of ways and tips to stick to a budget and enjoy a comfortable lifestyle. Check out more budget strategy tips here.

Have a financial goal

What is the next major purchase you have in mind? Having a goal helps to stick to a budget as you’ll find yourself setting aside extras to accomplish that goal. In that way you’ll also have made a proper investment whether it be a car, a major home appliance purchase and more.

Take advantage of affordable insurance solutions

The insurance marketplace offers so many solutions but if you find a good one you can in fact have affordable insurance that safeguards your family from unexpected future expenses. Protecting your family is an important investment as well.

Compromise is the key

As a single mom, it can be difficult to fulfill personal needs and wants for your kids on one budget. A healthy discussion with your family will help set expectations and also give everyone an avenue to share their thoughts, suggestions and feelings about your family’s budget.