Breaking the Cycle: Financial Tips for Single Mums to Stop Living Paycheck to Paycheck
Breaking the Cycle: Financial Tips for Single Mums to Stop living paycheck to paycheck
Breaking the Cycle: Financial Tips for Single Mums to Stop Living Paycheck to Paycheck
The Introduction: A Real Understanding of Struggle
Being a single mum is like operating a business—your CEO, CFO, and everything in between, including kids, bills, and dinner on the table. The only difference is that, unlike business, there is no crew behind you to have your back. Every money decision, every unexpected expense, every dollar is do or die. With sme of these financial tips for single mums, you can create some breathing room within your budget.
The U.S. Census Bureau reports that more than 30% of households led by single mums are living below poverty levels, and many others are only one money breakdown away from crashing into financial ruin. The system is set up to make things tough, but too often, mums on their own are stuck in a cycle of scraping by each month by the skin of their teeth. What really grinds my gears about it though is the fact that most single mums are also looked down upon for this choice, as if we chose to raise kids on our own with no support. It’s a tough gig that’s 24/7. No one willingly signs up for this.
But here’s the reality: you’re not powerless. This post is not about how to make do—it’s about how to thrive. We’re going to break out of boilerplate budget talk and into real, outside-the-box financial moves that allow you to save, make money, and grow riches like a financial giant.
It’s time to move out of defense mode on your money and into offense mode. It’s time to get started.
Chapter 1: Change Your Mindset About Money
Stop Acting Poor—Begin Acting Like A CEO
One of the most important money changes you can make is not numerical—it’s mind-based. Many mums on their own remain stuck in what amounts to mere survival mode, constantly reacting to money challenges but never planning for what’s next.
Rachel Rodgers, founder of We Should All Be Millionaires, shares a key teaching: “Stop acting broke.” It’s not spending lavishly that matters—it’s making choices out of power, rather than scarcity.
Example: Instead of saying, “I can’t afford that,” begin asking, “How can I afford that?” Such a shift in mind puts your focus on solutions—whether that’s negotiating a bill, making money on the side, or coming up with a money-saving scheme that’s out of the box. This slight shift in thinking has made a massive impact on my own life and is probably one of my biggets financial tips for single mums. I no longer say I can’t afford something. Instead, I work backward. I work out exactly how much the thing will cost first, then figure out how much I need to save per month towards it, and work out how long it’ll take me to save for it. Suddenly, I can afford most things. While I won’t get them straight away, I now know I’m saving towards them.
Why is this so important when it doesnt actually have anything to do with money? SImple. Being a single parent generally means if you cant affrd it, your kids dont have it. Thats not awalys an option. Its touch, I get it, but sometimes we have absoloutly no choice but to make it work, to find a awa. We have to cause if we dont, who will?
Grow A Money Mindset
Tori Dunlap of Her First $100K reminds us that your money situation is temporary, but your money schooling is forever. The more you learn, the more power you gain.
- Read one money book every month. Start with titles like I Will Teach You to Be Rich by Ramit Sethi.
- Subscribe to financial coaches on TikTok, YouTube, or Instagram (Tori Dunlap, Rachel Rodgers, and Tiffany Aliche are great options).
- Educate your children on money. Even if money is strained, set them up for success by teaching them how to save and budget early.
Make Financial Wins A Habit
Power Tip: Create a “money wins” notebook or digital doc. Every time you make a good financial move—saved $10, said no to an unnecessary buy, or brought home extra income—log it there. After a while, you’ll learn to have faith in your money control, rather than letting money control your life.
Section 2: Create A Realistic and Detailed Budget (And A Twist!)
Budget Like A Rich Person (The 80/20 Rule of Expenses)
All budget advice is about cutting everything out—but that’s what poor people do. Rich people have a smart spending rule of thumb:
- 80% of your income goes to necessities & indulgences (rent, groceries, utilities, self-care).
- 20% will forever go to your future (savings, investments, debt repayment).
How is that possible? By saving money first, you begin building financial safety—beyond merely making ends meet.
Its important to remember here, however, that try as yu might, 20% is not always possible. If your really struggling, try aiming for even 5% of your income twards savings. Saving an extra $50 per month doesnt seem like much and almost seems pointless, but it adds up.
Power Tip: Try using the “round-up” trick—every time you buy anything, round up to the next dollar and save that amount of money. (Apps like Acorns do this automatically.)
Segregate Your Budget into “Fun” and “Serious” Money
If you take everything that’s enjoyable out of your budget, you’ll crash and splurge afterwards. Try this instead of a stern budget:
- “Fun money” (10-15% of income): Self-treatments, guilty pleasures, guilt-free extravagances.
- “Serious money” (85-90% of income): Basics, saving, investments.
This will keep you motivated without letting your fortune evaporate.
Section 3: Strange & Non-Traditional Ways to Cut Back on Expenses
I cant stand when Im loolking for tips to save money and its alwasy the same ” cut back on coffee, drive less, dont order takeawy” etc. Ok I get it, but give me something new.
1. The “Nothing New” Challenge
Vow to buy nothing new for one month (except necessities & food).
- Ask friends or borrow first, then buy. Need that gadget or fancy outfit? Ask your buddy.
- Find a “Buy Nothing” group. These Facebook groups connect people to share things without spending money.
- Learn how to sew or make home repairs to save money on replacements.
Power Tip: Search for your local “Freecycle” groups—people give away good-quality items they no longer need.
2. The Grocery Hack: Shop Backwards
Most people buy things first, meal planning second. Try doing it backward!
- Shop your pantry first- can you buy a couple of top up ingrediants and make a meal with what you have on hand?
- Shop first in the clearance section—look for bargains.
- Plan your meals around what’s affordable.
- Use Google to search recipes with what’s on hand.
Power Tip: International grocery markets often have fresh produce 30-50% lower-priced compared to big chain stores!
3. Monetize Activities You Already Do
- Make money while you stroll. Apps like Sweatcoin pay you for your walk.
- Make your receipts pay off. Use apps like Fetch Rewards or Receipt Hog to redeem your receipts for gift cards.
- Earn money off your clicks. Apps like Nielsen Mobile Panel will pay for your internet browsing habits.
Section 4: Become a Finance Powerhouse
Saving Is Good. Making Money? Life-Changing!
1. Build More Dough by Applying “Time Stacking”
Free time? You don’t have free time on your hands—there are money-earning habits that can be incorporated into your life.
Examples:
- Pleasant school runs? Pick up DoorDash on your school run home.
- TV fans? Sell your handcrafted goods on Etsy while watching.
- Homebodies? Sell virtual products from home.
Power Tip: Check out SideHustleStack.co—it lists options that can scale to make money on your terms.
2. Create “Money Machines” (a.k.a. Passive Streams of Cash)
Wealthy individuals don’t work more—they make money while they sleep!
- Offer printable products (budget sheets, planners) on Etsy.
- Publish on Amazon KDP.
- Rent out your second room on Airbnb only on weekends.
Section 5: Build Emergency Funds Even on a Lean Budget
1. The “Invisible Money” Trick
If out of sight, out of mind. Create a hidden money-saving bank account and automate deposits.
Power Tip: Use top-yield savings accounts like Marcus by Goldman Sachs so your money makes money while waiting there.
2. The “Savings Bingo” Challenge
Make saving fun! Create random amounts of money on a bingo card ($5 to $50). Every seven days, take one spot and save that amount of money.
Conclusion: Your Sparkle of Finance Starts Today
Single motherhood is tough—but financial success is within your power. The trick? Small daily changes that create big results.
Follow-Up Actions:
✔ Comment below: What is your biggest money challenge? We’ll knock it out together!
✔ Try one new tip within this guide today.
✔ Create a mini-finance goal (save $10 this week, start your side hustles).
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