Being a father is surely one of the biggest joys in your life, but it doesn’t come without its fair share of trials and tribulations.
Being a dad when you’re sharing the responsibilities with a partner can certainly be challenging, but when you are going it alone, there are even more hurdles to contend with.
Finances are one of the biggest concerns that a single father faces. Kids are expensive and it can be extremely difficult try to extend a single income to the max.
If your financial situation is keeping you up at night, take a deep breath and try putting some of these money saving tactics into effect.
1. Accept Hand-Me-Downs: When it comes to kids, clothing is a huge expense. Spills, potty training, falls and tears mean that they require a pretty big supply of clothing – not to mention the fact that they grow so quickly and are constantly needing bigger or different sizes.
A great way to save money is to accept hand-me-downs. If you have siblings or friends who have children that are older than yours, ask if they wouldn’t mind passing the clothing they’ve grown out of down to your kids.
Second-hand stores are also increasing in popularity and number, offering great options, very affordable prices and even have online counterparts for ease of use.
2. Buy Second Hand Toys: To young kids, a new toy is a new toy; it doesn’t matter if it has been used by a previous owner. Shop for second-hand toys at thrift stores and at online bidding sites.
You can find great savings, and the toys you will find will likely be good as new.
3. Pay Bills Online: This is a tip that can benefit anyone, but as a single dad, it can particularly benefit you. Paying your bills online can actually save you money. Many utility companies and lenders offer discounts when you make an online payment, and these savings can really add up.
By searching on a site like DepositAccounts, one can find the most affordable bank rates available to them as well as read from a plethora of blogs on everything from frugality methods to proper credit card usage.
4. Do Your Own Repairs: When your car or an appliance breaks down, instead of paying someone else to fix it, try fixing it yourself. You don’t have to be a super handy man; you just have to be willing to learn from a variety of online and printed resources readily available.
Thanks to unlimited information found all over the web, a single father can research how to repair tons of things on his own, including cars and appliances.
YouTube is a fantastic resource for how-to videos that provide step-by-step instructions that will really walk anyone through the entire repair process. Becoming your own handyman and mechanic can save you tons of cash.
5. Look for Specials: You will be amazed to find how many discounts you can find for your kids. Retailers, restaurants and even kid-friendly activity centers, such as museums, often offer special prices.
Go out to eat at restaurants that offer a ‘kids eat free’ promotion, which can save you a great deal of money on groceries. Take the kids to the museum or a fun center on free or discounted days. Check coupons to see when retailers are offering special discounts on certain items.
With these simple tips, you can effectively save a great deal of money as a single dad. Put these tactics into practice and you will be able to extend your single salary much farther than you ever thought possible.
Dave Landry Jr. is a personal finance manager and small business owner living in Southern California with his two young daughters. Dave has a passion for writing blogs and creating infographics on all-things finance, specializing in frugality, savings, investing, debt management, accounting and asset management. He hopes this blog will help all of the single fathers out there save a little extra cash.