8 Financial πŸ’° Tips for Single Mothers πŸ‘©β€πŸ‘§β€πŸ‘¦ to save Money πŸ’Έ ...


Do you need some ways to save money as a single mom?Being a single mother is a sensitive issue especially when it comes to handling your personal finances correctly. Balancing the emotional and financial aspects of your life all at once can be an incredibly difficult feat when the task is suddenly thrust onto you with the departure of your significant other. Luckily, there are a lot of systems in place to ensure that you don’t just fall through the cracks and that both yourself and your child have the adequate financial safety. Here are some terrific financial tips for single mothers.

1. Cut down on Your Taxable Income

There are a ton of opportunities for tax exemptions when you’re a single mom supporting dependents and this is one of the best ways to save money as a single mom. You want to make sure that you take full advantage of these tax exemptions - which are established in the first place to help out - so that you have the most money left over to support the needs and education of your children. The IRS lists out a number of things that count as personal exemptions that will allow you the yearly adjusted amount for each one of those exemptions that apply to you.

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