Mom’s Guide For Adapting To Being A Single Parent

Last Updated on July 24, 2023 by Lori Pace

Being a mother is exciting and fulfilling, but it’s also incredibly challenging, especially when you’re doing it solo. Whether you were inseminated, adopted, or merely kicked your now insignificant other to the curb, you need to adapt to being a single parent. While you may have a difficult time ahead of you, it’s far from impossible. With some helpful advice, you shouldn’t have any problem getting used to single parenthood. Here’s a guide to help moms adapt to being a single parent.

Accept the Past and Move on With Your Life

One of the biggest hurdles single moms face is the past. Everyone’s past is different; we all make mistakes, and we wish things were different. You wish your ex-partner never cheated on you or that you didn’t make that one bad investment. But rather than focus on what could have or should have been, dwelling on the past isn’t going to help you. It’s just going to keep you from living in the moment and focusing on your future. What’s worse is that it can negatively impact your relationship with your children. It may not be the most pleasant thing, but facing the past means learning from your mistakes and ensuring history doesn’t repeat itself.

Prepare Your Children for the Future

It’s not something we want to think about, but there will be a time when your children are going to live life for themselves. Every mother wants to hold their child’s hand and be with them every step of the way. While you might not be able to do so directly, there are ways you can continue looking after your children with you being a single parent. The first method involves their college education. College is a big investment that can take years to pay off. What’s more, is that it’s not uncommon for people to struggle with their student loans because of the interest rates. So, you might be wondering how you can help your children pay for their degree program.

A great way to prepare your children for college is to open a 529 savings account. This is a special type of savings account that’s sponsored by your state. It functions similarly to a traditional savings account, except the money can only be used for educational purposes. On the flip side, there are several benefits that come with opening this account. For starters, the money you deposit is tax-deferred, which means no taxes are taken out. Second, you’re given the opportunity to save on your state and federal taxes, which can increase your chances of receiving a refund.

Another way you can prepare your children for the future is to apply for a life insurance policy. No one likes to dwell on death, but unfortunately, it will happen. While the thought of leaving your children on their own is heartbreaking, a life insurance policy can help you ensure they won’t struggle. The best policies to get are permanent and term life insurance. Permanent life insurance is a commonly purchased policy as it accrues value over time. If your children are still young, now’s the perfect time to buy. However, if you’re uncertain about your own feature and need life insurance immediately, then a term policy is your best option.

You’re given a set amount that depreciates in value the longer you have it. The amount you receive depends on your situation and how long the policy lasts. In some cases, the amount can be $10,000 while in others can be well over $1,000,000. Make sure to consult the insurance company for any questions you have.

Adopt a Frugal Lifestyle

The reason why many moms are so concerned about being a single parent is because of the financial aspect. Not only do you have to take care of your children, but you also need to pay for rent, bills, groceries, and debt payments. With only one income, even if you qualify for and utilize federal grant programs, paying for so many expenses can make saving money an unobtainable dream. However, it doesn’t have to be this way; all you need to do is switch up your lifestyle. More specifically, you need to start embracing frugality. Frugality, unfortunately, has somewhat of a negative reputation.

Those that are frugal are regarded as scrooge or cheap. But frugality isn’t about hoarding money and having the bare minimum; it’s about being smarter with your finances. Since you’re now a single mom, you can never be too careful with your money. Clipping coupons, scoring discounts, investing in DIY products, always meal plan, and do not deviate from your budget. These methods are how you can get the most bang for your buck.

Lori Pace
Lori Pace

Lori Pace is a single mother of three daughters ages 7 and under. As a working mom from home, she balances kids, work and two crazy dogs with humor and love. Follow Lori as she honestly gives tips and advice based on her own experiences as a single mom!