Easy Money Saving Techniques For Single Parents

September 3, 2021 | Peyton Sawyer

money saving techniques for single parents

One of the most important things you can do as a single parent is finding money saving techniques to help you stretch your dollar. Whether it’s setting up a budget, buying from your local farmer’s market, or using an online installment loan when your savings aren’t enough, they should lead you to a more secure financial situation.

Best Money Saving Techniques When Raising Kids Alone

Start With A Budget

This is the foundation that money saving techniques are built on. Without a budget, you end up wandering through your earnings unsure of where your money needs to go or even where it is going.

At the least, create a budget that allocates:

  • 50% of your income for needs.
  • 30% of your income for wants.
  • 20% of your income for savings.

You should always set up your needs first, and then do what you can to make the rest fit in these categories. If you find that your needs exceed 50% of your income, try to find a way to reduce them or to increase your income, or (as a last resort) use funds from the other categories.

Find out: How to budget with a part-time job.

Become A Couponing Guru

Of all the money saving techniques, this one might be the most seamless. You don’t need to become a super couponer to reap the rewards of couponing.

If you have access to a local newspaper, scan through and snag any coupons that you might use.

Otherwise, stores like Target and Dollar General do a fantastic job of letting you add coupons to a digital account that you can use at the register. The key is to use coupons for things you buy and not to buy things simply because you have a coupon.

Start small, and then look into more advanced couponing techniques if you get comfortable with them.

buy in bulk

Shop In Bulk

Shopping in bulk goes hand in hand with couponing. Children can go through a lot of food or products in a short amount of time, so buying in bulk allows you to get a quantity you need at a lower long-term cost.

This is one of the money-saving techniques that may be harder to implement, but it pays off over time. You shouldn’t break your budget to buy in bulk but find opportunities to and maybe save up so you can be more capable of doing it.

Check Out Your Local Farmer’s Market

Rarely do these money saving techniques double down as recreational experiences, but shopping at your local farmer’s market can save you money and provide enrichment for your family.

A lot of the time vendors will have the same products for sale at different prices, so try to circle through once before committing to a price.

You can also save more if you go on hot days or stormy days, since fewer people will be around, and prices might be more discounted. Slipping in 30 minutes before they close is another easy way to snag a good deal. Vendors would rather walk away with cash than cart products home.

Cut Down Your Daycare Costs

Turn to your local government to see if there is any assistance available for reducing your daycare costs. Money saving techniques sometimes require you to reach out, and that is okay.

Another way to bring the cost of daycare down is by reevaluating your working situation. Working from home, even part-time, can save you plenty down the road.

What To Do When Savings Are Not Enough

Sometimes these money-saving techniques are not enough to cover you in an emergency. However, you still have plenty of options, one of which can be an online installment loan.

single dad playing with kids needs loan

What Is An Online Installment Loan?

Online installment loans Wisconsin let you borrow a specific amount of money that you then repay over a period of time. At Wisconsin Auto Title Loans, Inc. we offer two different forms of installment loans:

The first is title loans, which require a lien-free title to your vehicle as collateral, but they may allow you to borrow more money, up to $15,000. If you do not need to borrow that much or do not have an eligible vehicle you can still request a signature installment loan. With this type of installment loan, the maximum amount you can borrow is $1,500.

How To Get An Online Installment Loan Fast And Easy

The first step would be to decide whether you want to pursue an auto title loan or a signature installment loan, once you have that figured out the rest is simple.

Simply call us at 800-514-2274 or use our convenient online inquiry form on Wisconsin Auto Title Loans, Inc. to get your personal information to us as quickly as possible.

If you send a form in, you’ll get a call from one of our loan associates, or they will directly speak to you if you call.

They will confirm the information you have given and make sure you bring the necessary documents and vehicle for a title loan or only the documents needed for a signature installment loan to complete the process. They will also schedule an appointment with you.

You can meet our loan associate at a location of your choice or at one of the Wisconsin Auto Title Loans, Inc. locations. Either way, the associate will review the required items and determine the amount that you qualify for.

If everything is in order, you should be able to get your loan on the same day or the following business day.

Start Utilizing These Money Saving Techniques

You should take advantage of these money saving techniques every day. But even when the money runs too tight and cash is simply not enough to cover urgent expenses, you can still use an online installment loan.

Submit an online form today with Wisconsin Auto Title Loans, Inc. to learn more about your options and get the help you need when you needed.