BOSTON (CBS) — The family starts as a couple, you’ve got a couple of children and then you divorce. Over 40 percent of early marriages end in divorce until their 8th anniversary.
Approximately 35 percent of kids are living in a home with one parent, that is 25 million kids. According to the U.S. Census Bureau there are 10 million single moms and two million single dads and as one parent you will have to reevaluate your targets.
It would be easy to take the high road here and start to talk things about all you will need to do but if you are living paycheck to pay or get credit card debt then then you can’t commit to saving and investing yet. Let’s start with the fundamentals here.
The goals that are Frequent:
- Getting from debt
- Conserve for an emergency fund
- Save for retirement so you don’t have to reside with the kids
- Deliver the kids to school just in case you have to live with them
Getting out of cash. Put together a strategy and if have to get any help from Consumer Credit Counseling. Debt will not let you accomplish your other targets.
Save not simple to change your life style however, you might have to do things to have.
Save for retirement: Should you see this was rated by me on goal until college savings. There’s absolutely no financial aid or scholarships available. A gift is the financial independence in retirement. I really do know how hard it’s to save for retirement but even smaller amounts may benefit you in retirement.
Sending the children this isn’t an easy feat for one parent. Community colleges and State schools might help it become more affordable. There’s financial aid on the market and work analysis programs for the youngsters. Two years at the community school and then off to UMASS is still a good workable strategy.
source http://www.californiacoastparent.com/financial-goals-for-families-single-parent-with-children/
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