A Single Mother's Path to Financial Freedom

As a single mother, I, like many other women, face enormous stress in terms of finances, health and physical well being of myself and my children. Like many women in the United States, our time is scattered among busy work schedules and caring for children alone, often without much support from family or friends.

More than any other stressor in our lives, single mothers report they worry more about their finances than they do any other face of their lives. Without feeling financially stable, single mothers can push themselves into realm of not only emotional sickness but physical sickness from the extent of worry. I know because I am not an exception to this finding.

One of the key goals for many single mothers is the dream of sending children off to college. Setting a goal to make this financial dream come true for your children is only part of the step towards creating financial stability. Often, without a dream or a goal, single mothers can become haphazard with their finances and often lose their way at learning how to cut corners on finances and reach an attainable goal.

With my personal dream, as a single mother, to send my son to college, I first began by consolidating and resolving my credit card debt. Even if I only had $5.00 to my name, I worked diligently to send in a payment to the credit card companies, continuously focusing on my ultimate life goal.

Once I was able to move from an out of control debt and credit card situation, I then moved into the realm of savings. As a single mother, I am often living paycheck to paycheck. For this reason, I devised a plan in which to have a specific dollar amount transferred to a bank that is located out of my immediate town, giving me less access to withdraw the funds for pleasure. In restricting my access to funds, to some extent, I was able to slowly build a savings and continued to focus on my goal of sending my son to college.